Blend Labs, Inc.BLNDEarnings & Financial Report
GU Energy Labs is a company based in Berkeley, California, that produces sports nutrition products, most notably energy gels. Often consumed during endurance events, the gels are designed to be quickly and easily digested during any type of activity. Other products include energy chews, drink mixes, hydration tablets, stroopwafels and a Roctane line that includes an energy drink mix, protein recovery drink mix, gel, and capsules. The company was founded in 1994 by Bill Vaughan, who began crea...
Revenue
$28.7M
Gross Profit
$20.3M
Operating Profit
$-13.1M
Net Profit
$-19.4M
Gross Margin
70.9%
Operating Margin
-45.5%
Net Margin
-67.6%
YoY Growth
-33.0%
EPS
$-0.09
Blend Labs, Inc. Q2 FY2024 Financial Summary
Blend Labs, Inc. reported revenue of $28.7M (down 33.0% YoY) for Q2 FY2024, with a net profit of $-19.4M (up 52.9% YoY) (-67.6% margin). Cost of goods sold was $8.4M, operating expenses totaled $33.4M.
Key Financial Metrics
| Total Revenue | $28.7M |
|---|---|
| Net Profit | $-19.4M |
| Gross Margin | 70.9% |
| Operating Margin | -45.5% |
| Report Period | Q2 FY2024 |
Revenue Breakdown
Blend Labs, Inc. Q2 FY2024 revenue of $28.7M breaks down across 3 segments, led by Mortgage Suite at $18.5M (64.3% of total).
| Segment | Revenue | % of Total |
|---|---|---|
| Mortgage Suite | $18.5M | 64.3% |
| Consumer Banking Suite | $8.0M | 28.0% |
| Professional Services | $2.2M | 7.7% |
Blend Labs, Inc. Revenue by Segment — Quarterly Trend
Blend Labs, Inc. revenue by segment across the last 4 reported quarters, showing how each business line (such as Mortgage Suite and Consumer Banking Suite) has evolved quarter over quarter.
| Segment | Q4 FY2025 | Q3 FY2025 | Q2 FY2025 | Q1 FY2025 |
|---|---|---|---|---|
| Mortgage Suite | $18.9M | $17.7M | $18.0M | $14.6M |
| Consumer Banking Suite | $11.4M | $12.7M | $11.4M | $9.6M |
| Professional Services | $2.1M | $2.4M | $2.1M | $2.5M |
Blend Labs, Inc. Annual Revenue by Year
Blend Labs, Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $123.6M).
| Year | Annual Revenue |
|---|---|
| 2025 | $123.6M |
| 2024 | $115.8M |
| 2023 | $109.5M |
| 2022 | $235.2M |
Blend Labs, Inc. Quarterly Revenue & Net Profit History
Blend Labs, Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $32.4M | +7.6% | $-2.5M | -7.8% |
| Q3 FY2025 | $32.7M | -1.2% | $12.1M | 37.0% |
| Q2 FY2025 | $31.6M | +10.2% | $-6.8M | -21.6% |
| Q1 FY2025 | $26.8M | +12.6% | $-9.5M | -35.5% |
| Q4 FY2024 | $30.1M | +369.1% | $-825.0K | -2.7% |
| Q3 FY2024 | $33.1M | -18.4% | $-2.4M | -7.4% |
| Q2 FY2024 | $28.7M | -33.0% | $-19.4M | -67.6% |
| Q1 FY2024 | $23.8M | -36.1% | $-20.7M | -86.7% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $23.8M | $28.7M | $33.1M | $30.1M | $26.8M | $31.6M | $32.7M | $32.4M |
| YoY Growth | -36.1% | -33.0% | -18.4% | 369.1% | 12.6% | 10.2% | -1.2% | 7.6% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $201.8M | $185.4M | $186.1M | $178.1M | $187.5M | $182.2M | $188.6M | $170.0M |
| Liabilities | $189.9M | $48.3M | $47.5M | $40.4M | $58.8M | $55.0M | $47.2M | $41.0M |
| Equity | $-35.8M | $-45.5M | $-49.6M | $-56.4M | $-17.2M | $-23.1M | $-13.4M | $-30.5M |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $-3.9M | $-6.7M | $2.1M | $-4.6M | $20.1M | $-6.5M | $-3.6M | $1.5M |