Blend Labs Inc

Blend Labs Inc

BLND · NYSE · Technology / Software - Application

1.07USD+0.00 (0.00%)

Price History

Full chart

Market Stats

Previous Close1.07
Open1.06
Day Range1.04 – 1.10
52-Week Range1.06 – 3.86
Volume826.25K
Market Cap253.07M
P/E (TTM)0.00
Forward P/E55.87
EPS-0.07
Dividend Yield0.00%
Beta1.09
50-Day Avg1.57
200-Day Avg1.90

About

Blend Labs, Inc. provides a cloud-based software platform for financial services firms in the United States, India, and Mexico. The company offers a suite of products that powers digital-first consumer journeys for mortgages, home equity loans and lines of credit, vehicle loans, rapid home lending, personal loans, credit cards, and deposit accounts; and a suite of add-on products that offers to enhance consumers' journeys to homeownership, such as close, income verification for mortgage and home equity lines of credit, and home equity loans. It also provides Blend Builder to configure or build custom workflows from a pre-built set of components; verification components to automate confirmation tasks that are needed to underwrite a loan or approve the opening of a new deposit account; decisioning components to reduce the need for human intervention by automatically applying business rules throughout an application workflow configured by a financial services firm; AI capabilities; and workflow intelligence components to manage data collection and automate tasks throughout the loan origination process. In addition, the company offers application programming interfaces, which integrate the capabilities of technology, data, and service providers into software platform, as well as support services, professional and consulting services. It serves banks, credit unions, fintechs, and other non-bank mortgage lenders. The company was incorporated in 2012 and is headquartered in Novato, California.

Company Details

  • SectorTechnology
  • IndustrySoftware - Application
  • CEOMr. Nima Ghamsari
  • Employees419
  • Headquarters7250 Redwood Blvd., Novato, CA, United States, 94945, USA
  • Websitehttps://www.blend.com

Leadership

  • Mr. Nima GhamsariCo-Founder, Chairman, CEO & Head of Blend · b. 1986
  • Mr. Jason ReamHead of Finance & Administration · b. 1972
  • Mr. Srinivasan VenkatramaniHead of Product, Technology & Customer Operations · b. 1978
  • Ms. Meg NunnallyHead of Investor Relations
  • Ms. Winnie LingHead of Legal & People · b. 1986
  • Ms. Reva RaoHead of Digital Transformation for Credit Unions
  • Mr. Matt ThomsonHead of Revenue · b. 1971

Financials

Income Statement

Currency: USD2019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Revenue50.67M96.03M234.50M235.20M156.85M162.02M123.58M
Growth (%)-+89.51%+144.19%+0.30%-33.31%+3.30%-23.72%
Cost of Revenue19.55M34.29M118.51M145.55M75.71M71.47M32.42M
Gross Profit31.12M61.74M115.99M89.65M81.14M90.54M91.17M
Gross Margin61.42%64.29%49.46%38.12%51.73%55.88%73.77%
Operating Expense112.85M137.03M313.23M835.83M237.36M140.16M112.03M
Operating Income-81.72M-75.29M-197.24M-746.18M-156.22M-49.62M-20.86M
Operating Margin-161.28%-78.40%-84.11%-317.25%-99.60%-30.63%-16.88%
EBITDA-76.67M-68.24M-182.94M-726.85M-143.21M-31.74M2.94M
EBITDA Margin-151.32%-71.07%-78.01%-309.03%-91.31%-19.59%2.38%
Net Income-81.45M-74.62M-171.34M-768.61M-185.32M-49.60M-8.05M
Net Income Margin-160.75%-77.70%-73.07%-326.79%-118.15%-30.62%-6.52%
R&D48.60M55.50M92.22M138.09M81.59M46.09M32.84M
R&D as % of Total Revenue95.91%57.80%39.33%58.71%52.02%28.45%26.58%
Interest Expense283.00K700.00K11.28M24.79M30.81M6.75M0
Interest Expense % of Total Revenue0.56%0.73%4.81%10.54%19.64%4.16%0.00%

Balance Sheet

Currency: USD2019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Assets161.30M215.75M1.11B432.76M206.06M178.01M170.04M
Total Liabilities26.33M52.41M301.89M268.84M179.12M181.99M200.60M
Total Equity134.97M163.34M774.64M123.17M-19.24M-56.36M-30.55M
Cash22.65M41.09M213.08M124.20M30.96M42.24M43.58M
Total Debt-16.58M232.31M231.98M149.69M3.83M160.97M
Net Debt-22.65M-24.51M19.22M107.78M118.73M-38.41M117.39M

Cash Flow

Currency: USD2019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Operating Cash Flow-58.94M-65.01M-127.50M-190.42M-127.62M-13.04M11.51M
Investing Cash Flow-65.51M-7.92M-633.91M99.43M127.31M45.40M18.54M
Financing Cash Flow132.67M90.76M933.57M2.22M-90.96M-21.06M-32.59M
Capital Expenditure620.00K1.32M1.89M2.07M587.00K9.84M11.59M
Free Cash Flow-59.56M-66.33M-129.39M-192.49M-128.21M-22.89M-81.00K
Dividends Paid--218.66M----
FCF to OCF101.05%102.03%101.48%101.09%100.46%175.47%-0.70%
Dividend Paid to FCF---168.99%----

Earnings

Report DateMar 31, 2020Mar 31, 2021Jun 2, 2021Aug 19, 2021Nov 10, 2021Mar 31, 2022May 12, 2022Aug 15, 2022Nov 10, 2022Mar 16, 2023May 9, 2023Aug 9, 2023Nov 7, 2023Mar 14, 2024May 8, 2024Aug 8, 2024Nov 6, 2024Feb 27, 2025May 8, 2025Aug 7, 2025Nov 6, 2025Mar 12, 2026May 7, 2026Aug 6, 2026Nov 5, 2026
EPS Estimate0.000.000.02-0.07-0.11-0.19-0.18-0.19-0.17-0.16-0.18-0.13-0.09-0.09-0.07-0.04-0.020.01-0.01-0.010.010.000.01-0.01-0.02
EPS Actual-0.21-0.200.02-0.51-0.13-0.19-0.20-0.19-0.19-0.21-0.15-0.09-0.09-0.09-0.06-0.020.01-0.030.01-0.030.020.030.02-0.02-
Surprise--9.00%-628.57%-18.18%0.00%-11.11%0.00%-11.76%-31.25%16.67%30.77%0.00%0.00%14.29%50.00%150.00%-353.00%200.00%-200.00%100.00%568.42%100.00%-100.00%-
Timing---After-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hoursAfter-hours-After-hoursAfter-hoursAfter-hours-After-hoursAfter-hoursAfter-hours

Key Statistics & Ratios

Market Cap253.07M
Enterprise Value222.07M
Trailing P/E0.00
Forward P/E55.87
Price / Sales1.95
Price / Book2.00
EPS-0.07
Book Value-0.314
Revenue (TTM)129.79M
Gross Profit (TTM)97.06M
EBITDA-14.48M
Profit Margin0.02%
Operating Margin-4.65%
Return on Equity2.11%
Return on Assets-5.66%
Shares Outstanding233.26M
Shares Float188.23M
Beta1.09
Dividend Yield0.00%
Dividend Rate0.00
Payout Ratio0.00%

Analyst Ratings

Buy
Based on 7 analystsTarget 2.96
  • Strong Buy
    3
  • Buy
    2
  • Hold
    2

Ownership Breakdown

Institutions
70.49%
Insiders
9.99%
Retail / Other
19.52%

Top Institutional Holders

  • Haveli Investment Management LLC
    18.69M7.90%
  • BlackRock Inc
    16.29M6.89%
  • Cypress Point Investment Management, LP
    14.30M6.05%
  • Capricorn Fund Managers Ltd
    11.31M4.78%
  • Vanguard Capital Management, LLC
    9.65M4.08%
  • Vanguard Portfolio Management, LLC
    6.70M2.83%
  • Whitebark Investors
    6.34M2.68%
  • State Street Corp
    6.30M2.66%
  • Citadel Advisors Llc
    5.06M2.14%
  • Geode Capital Management, LLC
    4.84M2.05%
  • Emergence GP Partners, LLC
    4.24M1.79%
  • Millennium Management LLC
    3.49M1.48%
  • Divisadero Street Capital Management, LP
    3.18M1.34%
  • The Goldman Sachs Group Inc
    2.60M1.10%
  • Irenic Capital Management LP
    2.20M0.93%
  • Jacobs Levy Equity Management, Inc.
    2.17M0.92%

Top Fund Holders

  • Vanguard MStar Total Stk Mkt Idx Invest
    5.88M2.49%
  • iShares Russell 2000 ETF
    4.87M2.06%
  • Vanguard Information Technology ETF
    4.24M1.79%
  • Fidelity Small Cap Index
    2.01M0.85%