Blend Labs, Inc. ( (BLND) ) has released its Q3 earnings. Here is a breakdown of the information Blend Labs, Inc. presented to its investors.
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Blend Labs, Inc. is a prominent origination platform specializing in digital banking solutions, catering to a diverse range of financial providers including large banks, fintechs, and credit unions. The company is known for transforming banking experiences through its innovative platform.
In its third quarter of 2025 financial results, Blend Labs reported revenue and non-GAAP operating income that surpassed the mid-point of its guidance. The company also highlighted a significant year-over-year increase in non-GAAP operating income and the addition or expansion of 14 customer relationships, with a notable increase in its pipeline.
The financial performance for the third quarter showed a slight decline in total revenue to $32.9 million, a 1% decrease compared to the previous year. Software platform revenue decreased by 2%, while professional services revenue saw an 18% increase. The company achieved a non-GAAP gross profit margin of 78%, an improvement from the previous year’s 75%. Additionally, Blend reported a GAAP operating loss of $4.9 million, a significant improvement from the $11.3 million loss in the same quarter of 2024.
Looking ahead, Blend Labs is projecting fourth-quarter revenue between $31.0 million and $32.5 million, with non-GAAP net operating income expected to range from $2.5 million to $3.5 million. The company remains optimistic about its growth prospects, driven by a favorable macroeconomic environment and its own strategic momentum.
Overall, Blend Labs is poised for continued progress, with management expressing excitement about the business’s trajectory amid improving economic conditions and strategic expansions.