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Earnings transcript
Read the complete earnings call transcript.
BLND
Blend Labs, Inc.
$1.69
-0.02
(-1.17%)
| Exchange: | NYSE |
| Market Cap: | 409.177M |
| Shares Outstanding: | 219.594M |
Delayed data
About The Company
| Sector: | Technology | |||||
| Industry: | Software – Application | |||||
| CEO: | Nima Ghamsari | |||||
| Full Time Employees: | 540 | |||||
| Address: |
| |||||
| Website: | https://blend.com |
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: Blend Platform and Title365. It offers a wide array of white-label solutions catering to diverse consumer financial needs, such as home mortgages, home equity loans and lines of credit, vehicle financing, personal loans, credit cards, and deposit account management. Additionally, Blend Labs supplies a specialized suite of tools designed to streamline the entire homeownership process for individuals, covering aspects like loan closing, income validation for mortgages, property insurance, and real estate services. The firm also conducts title examination processes for insurance policies, manages escrow, handles closing and settlement services, and performs various trustee duties, alongside delivering expert professional and advisory services. Its clientele encompasses a broad spectrum of financial entities, including banks, credit unions, financial technology firms, and independent mortgage providers.
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Revenue Segmentation
EPS
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Earnings Call
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Key takeaways
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Login — it's freeIncome Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 156,846 | 162,019 | 123,585 |
| Gross Profit | 81,135 | 90,544 | 91,167 |
| EBITDA | -143,214 | -31,744 | 2,941 |
| Operating Income | -156,222 | -49,620 | -20,864 |
| Net Income | -185,320 | -49,604 | -8,055 |
(* All numbers are in thousands)
Balance Sheet
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Total Assets | 206,065 | 178,012 | 170,045 |
| Total Liabilities | 179,118 | 181,993 | 41,102 |
| Total Stockholders Equity | -19,243 | -56,356 | -30,552 |
| Total Debt | 149,695 | 3,832 | 0 |
| Cash and Cash Equivalents | 30,962 | 42,243 | 43,578 |
(* All numbers are in thousands)
Cash Flow Statement
| Year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating Cash Flow | -127,621 | -13,044 | 14,398 |
| Capital Expenditure | -587 | -9,844 | -11,593 |
| Free Cash Flow | -128,208 | -22,888 | 2,805 |
| Net Income | -179,879 | -43,419 | -25,966 |
| Net Change in Cash | -91,304 | 11,284 | 0 |
(* All numbers are in thousands)
Analyst Estimates
| Fiscal Year | 2028 | Full Access | Full Access | Full Access | Full Access |
|---|---|---|---|---|---|
| Estimated Revenue (Low) | 168,150.664 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (High) | 168,154.001 | Full Access | Full Access | Full Access | Full Access |
| Estimated Revenue (Avg) | 168,152.333 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Low) | -96,363.684 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (High) | -96,361.772 | Full Access | Full Access | Full Access | Full Access |
| Estimated Ebitda (Avg) | -96,362.728 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Low) | 35,429.402 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (High) | 37,112.570 | Full Access | Full Access | Full Access | Full Access |
| Estimated Net Income (Avg) | 36,270.986 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Low) | 130,186.073 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (High) | 130,188.656 | Full Access | Full Access | Full Access | Full Access |
| Estimated SGA Expense (Avg) | 130,187.365 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Avg) | 0.140 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (High) | 0.140 | Full Access | Full Access | Full Access | Full Access |
| Estimated EPS (Low) | 0.140 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated Revenue) | 3 | Full Access | Full Access | Full Access | Full Access |
| Number of Analysts (Estimated EPS) | 1 | Full Access | Full Access | Full Access | Full Access |
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Current Key Metrics
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Intrinsic Value Calculator
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Common questions about BLND valuation
Is Blend Labs, Inc. (BLND) overvalued or undervalued right now?
MARKETSnap estimates intrinsic value for Blend Labs, Inc. (BLND) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.
Is BLND a buy, hold, or sell for long-term investors?
MARKETSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether BLND trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.
What is BLND’s P/E ratio?
You can see BLND’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.
How is intrinsic value calculated for BLND?
MARKETSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MARKETSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.
Is BLND a good long-term investment?
Whether BLND fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MARKETSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.
BLND
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Daily snapshot
-1.17
Trading Metrics:
| Open: | 1.68 | Previous Close: | 1.71 | |
| Day Low: | 1.63 | Day High: | 1.76 | |
| Year Low: | 1.18 | Year High: | 4.49 | |
| Price Avg 50: | 1.57 | Price Avg 200: | 2.58 | |
| Volume: | 2.157M | Average Volume: | 4.38M |
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