Blend Labs BLND Ratios & Valuation
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 74.9%+2.3pp | 73.8%+1.9pp | 73.4%— | 73.3%— | 72.6%— | |
| Operating margin | -14.7%+15.2pp | -17.6%+24.6pp | -17.7%— | -22.5%— | -30%— | |
| Net margin | -4.2%+22.9pp | -5.5%+31.9pp | -4.2%— | -16.1%— | -27.1%— | |
| Efficiency | ||||||
| Asset turnover | 0.7×+0.1× | 0.7×+0.1× | 0.6×— | 0.7×— | 0.6×— | |
| Liquidity | ||||||
| Current ratio | 1.8×-0.6× | 2.5×-0.9× | 2.5×-0.7× | 2.4×-1.0× | 2.4×-1.3× | |
| Per Share | ||||||
| Book value per share | -$0.22-230% | -$0.12+47.0% | -$0.05+74.4% | -$0.09+50.5% | -$0.07+53.5% | |
| Valuation | ||||||
| Market capitalization | $392.23M-52.3% | $789.63M-26.7% | $946.53M-0.7% | $868.64M+45.8% | $869.87M+6.2% | |
| Price / sales | 3.1×-3.8× | 6.4×-2.9× | 7.8×— | 7.1×— | 7.3×— |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- What are Blend Labs's profit margins?
- Blend Labs (BLND) runs a 74.9% gross margin and a -14.7% operating margin, with a -4.2% net margin.
- Where do Blend Labs's ratios come from?
- Every ratio is computed from Blend Labs's SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.
