Blend Labs, Inc. reported its financial results for the second quarter of 2025, revealing a total revenue of $31.5 million, a 10% increase from $28.7 million in the same period last year. The company's software platform revenue rose to $29.4 million, up from $26.5 million, while professional services revenue slightly decreased to $2.1 million from $2.2 million. Despite the revenue growth, Blend Labs recorded a net loss of $6.6 million, an improvement from the $19.4 million loss reported in the prior year. The loss per share attributable to common stockholders was $0.04, compared to $0.09 in the previous year.
The company’s financial performance reflects significant operational changes, including a strategic decision to exit its title insurance business, which has been classified as discontinued operations. This move is part of a broader strategy to focus on its core software platform and expand its partner ecosystem. The divestiture is expected to close later in the fiscal year, and the company recorded a $2.0 million impairment charge related to the write-off of intangible assets associated with this segment.
In terms of operational metrics, Blend Labs reported a gross profit of $23.3 million for the quarter, resulting in a gross margin of 74%, up from 71% a year earlier. The company has also made strides in managing its operating expenses, which decreased by 16% to $27.9 million, down from $33.4 million in the prior year. This reduction was driven by lower research and development costs, which fell by 43% to $7.3 million, and a 23% decrease in sales and marketing expenses to $7.0 million.
As of June 30, 2025, Blend Labs had cash and cash equivalents of $36.5 million and marketable securities totaling $51.8 million, providing a solid liquidity position. The company has also initiated a share repurchase program, with $20.9 million remaining available for future buybacks. Looking ahead, Blend Labs anticipates continued revenue growth driven by increased transaction volumes on its platform, although it remains cautious about the impact of macroeconomic factors such as interest rates and housing market conditions on its business.
About Blend Labs, Inc.
About 10-Q Filings
A 10-Q form is an important financial report that public companies in the United States must submit every three months. It gives a clear picture of a company's financial health and recent performance.
Key points about the 10-Q:
- Frequency: Companies file it three times a year, covering the first three quarters. The fourth quarter is covered in a more comprehensive annual report.
-
Content: It includes:
- Financial statements showing the company's current financial position
- Updates from management on the performance and projections of the business
- Information about potential risks the company faces
- Details on how the company is run internally
- Deadline: Must be filed within 40 or 45 days after the quarter ends, depending on the size of the company.
Our Methodology
AssetRoom is committed to providing timely summaries of news from public companies. We use AI to generate these summaries quickly, but they are not reviewed by human experts.
Our method:
- Data Collection: We continuously monitor for new filings (currently limited to US-listed stocks).
- AI-Powered Analysis: Our advanced AI system processes each filing, identifying key information and extracting relevant data.
- Summary Generation: The AI creates a concise, easy-to-understand summary of the filing, highlighting the most important points.
- Publication: The summary is immediately published on our platform, allowing users instant access to the latest information.
- Email users: We distribute round-up emails according to our users preferences, keeping them in the loop with the companies they follow.
Feedback & Corrections
Spot an error or have a suggestion? Contact us.