Want to see BLND full AI Analyst Report?
Blend Labs (BLND) AI Stock Analysis
Blend Labs
(NYSE:BLND)
BLND scores as moderate overall, driven primarily by improving financial performance (positive operating and free cash flow, strong gross margins, and no debt) but constrained by negative equity and ongoing net losses. Technicals add pressure because the stock remains below key longer-term moving averages despite neutral momentum. The latest earnings call supports the score with strong operational execution and pipeline progress, but guidance points to near-term revenue headwinds from a materially weaker mortgage market.
Blend Labs (BLND) vs. SPDR S&P 500 ETF (SPY)
- Market Cap
- $229.45M
- Dividend Yield
- ―
- Average Volume (3M)
- 1.96M
- Price to Earnings (P/E)
- -7.1
- Beta (1Y)
- 1.01
- Revenue Growth
- -1.96%
- EPS Growth
- -36.75%
- Country
- US
- Employees
- 419
- Sector
- Technology
- Sector Strength
- 61
- Industry
- Software - Application
Blend Labs Business Overview & Revenue Model
Company Description
Established in 2012 and headquartered in San Francisco, California, Blend Labs, Inc. provides cloud-hosted software platforms tailored for financial institutions across the United States. The company's operations are divided into two key divisions: B...
How the Company Makes Money
Blend primarily generates revenue by selling access to its software platform to financial institutions, typically through SaaS-style arrangements that may include subscription/platform fees and usage-based or transaction-based fees tied to loan origi...
Blend Labs Earnings Call Summary
The call was operationally strong, with record sales activity, accelerating Autopilot adoption, significant product launches, solid profitability, strong cash liquidity, and a growing 2027 pipeline. However, these achievements were offset by a materially worsening mortgage market, expected Q4 revenue and margin declines, weak industry volume expectations through 2027, and a historical decline in trailing EVPFL. Overall, the number and strength of business execution highlights outweighed the macro-driven challenges, while management acknowledged that growth will depend on converting the Autopilot and Rapid pipeline rather than receiving help from the market.
Q3-2026 Updates
Positive Updates
Negative Updates
Company Guidance
For the fourth quarter, management expects market volume to be between 850 thousand to 910 thousand units, down 28% to 33% year over year; total revenue to be between $27.7 million and $29.7 million, a decline of approximately 8% to 15% year over year; mortgage suite revenue to be down 23% to 28% year over year; economic value per funded loan of approximately $86 to $87, up from $81 in the third quarter; consumer banking suite revenue growth of between positive 2% and positive 10%; and non GAAP operating income of between $2.3 million and $3.3 million, implying a non GAAP operating margin at the midpoint approximately 10%. The fourth quarter outlook includes only Autopilot revenue under contracts signed today, and none of the pipeline described is included. For 2027, management expects first quarter industry volume to be down around 30% year over year, at least as steep as the fourth quarter, full-year industry volume to be down high single digits to low double digits compared with 2026, with most of the year over year decline in the first half, and full-year EVPFL to be up mid single digit percentages year over year, with more upside than downside to the estimates.
Blend Labs Financial Statement Overview
Summary
Fundamentals are improving but still mixed. Revenue is $130.0M TTM with modest growth (~3.8%) and strong gross margin (~74%), while operating cash flow ($24.4M) and free cash flow ($19.6M) are positive. Offsetting this, the company remains unprofitable (net margin about -15%) and stockholders’ equity is negative (-$76.6M), which is a meaningful balance-sheet risk despite $0 total debt.
Income Statement
44NeutralBalance Sheet
28NegativeCash Flow
67Positive| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 130.02M | 123.58M | 162.02M | 156.85M | 235.20M | 234.50M |
| Gross Profit | 96.45M | 91.17M | 90.54M | 81.14M | 89.65M | 115.99M |
| EBITDA | -6.37M | 2.94M | -31.74M | -143.21M | -726.85M | -182.94M |
| Net Income | -20.07M | -8.05M | -49.60M | -185.32M | -768.61M | -171.34M |
Balance Sheet | ||||||
| Total Assets | 143.81M | 170.04M | 178.01M | 206.06M | 432.76M | 1.11B |
| Cash, Cash Equivalents and Short-Term Investments | 44.16M | 68.32M | 98.48M | 136.92M | 354.15M | 547.23M |
| Total Debt | 0 | 160.97M | 3.83M | 149.69M | 231.98M | 232.31M |
| Total Liabilities | 46.11M | 200.60M | 181.99M | 179.12M | 268.84M | 301.89M |
| Stockholders Equity | -76.58M | -30.55M | -56.36M | -19.24M | 123.17M | 774.64M |
Cash Flow | ||||||
| Free Cash Flow | 19.56M | -81.00K | -22.89M | -128.21M | -192.49M | -129.39M |
| Operating Cash Flow | 24.39M | 11.51M | -13.04M | -127.62M | -190.42M | -127.50M |
| Investing Cash Flow | -1.27M | 18.54M | 45.40M | 127.31M | 99.43M | -633.91M |
| Financing Cash Flow | -17.56M | -32.59M | -21.06M | -90.96M | 2.22M | 933.57M |
Blend Labs Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For BLND, the sentiment is Negative. The current price of 0.98 is below the 20-day moving average (MA) of 1.08, below the 50-day MA of 1.19, and below the 200-day MA of 1.57, indicating a bearish trend. The MACD of -0.00 indicates Negative momentum. The RSI at 40.30 is Neutral, neither overbought nor oversold. The STOCH value of 48.86 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for BLND.
Blend Labs Risk Analysis
Blend Labs disclosed 67 risk factors in its most recent earnings report. Blend Labs reported the most risks in the "Finance & Corporate" category.
Latest Risks Added
0 New RisksBlend Labs Peers Comparison
Overall Rating
IDN72Outperform
EGAN71Outperform
NTWK70Outperform
MITK60Neutral- BLND52Neutral
AWRE44Neutral
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| IDN | 72Outperform | $41.34M | 13.50 | 15.02% | ― | 16.70% | ― |
| EGAN | 71Outperform | $150.61M | 21.08 | 10.76% | ― | -0.71% | -77.65% |
| NTWK | 70Outperform | $77.57M | 25.87 | 7.84% | ― | 12.53% | -0.08% |
| Sector * | 61Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
| MITK | 60Neutral | $777.91M | 34.40 | 9.35% | ― | 11.10% | 47.69% |
| BLND | 52Neutral | $232.66M | -7.12 | 117.72% | ― | -1.96% | -36.75% |
| AWRE | 44Neutral | $21.22M | -2.52 | -36.87% | ― | -9.81% | -45.08% |
* Technology Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| BLND | Blend Labs, Inc. | 0.98 | -2.02 | -67.23% | |
| AWRE | Aware Inc. | 0.97 | -1.56 | -61.66% | |
| EGAN | eGain Corporation | 5.95 | -9.23 | -60.79% | |
| IDN | Intellicheck Mobilisia | 2.04 | -2.48 | -54.87% | |
| MITK | Mitek Systems | 17.24 | 7.93 | 85.18% | |
| NTWK | Netsol | 6.49 | 2.39 | 58.29% |
Blend Labs Corporate Events
Blend Reports Third-Quarter 2026 Results and Strong Sales Momentum
PositiveOn November 5, 2026, Blend announced its third-quarter 2026 financial results. The company reported revenue of $32.9 million, up 1% year over year, while its GAAP operating loss narrowed to $2.6 million and non-GAAP operating income rose to $4.9 mill...
Blend Labs Appoints New Principal Accounting Officer
PositiveOn September 18, 2026, Blend Labs, Inc.’s board appointed Lina Rivas as Head of Accounting and principal accounting officer, effective September 21, 2026, while Jason Ream will continue as principal financial officer. Rivas brings extensive acc...
Blend Labs Announces Principal Accounting Officer Resignation
NeutralOn August 5, 2026, Blend Labs, Inc. disclosed that Oxana Tkach, its Head of Accounting and Financial Planning and Analysis and principal accounting officer, had resigned from her role, effective on or around August 31, 2026, to pursue another opportu...
Blend Labs Posts Q2 Revenue Growth and Share Buybacks
PositiveOn August 6, 2026, Blend Labs reported second-quarter 2026 revenue of $33.8 million, up 7% year-over-year, with software platform revenue rising to $31.4 million and professional services revenue reaching $2.4 million. GAAP gross margin held at 74%,...
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.
Date of analysis: Nov 06, 2026