**Blend Labs Reports Financial Results for Fiscal Year 2025**
Blend Labs, Inc. (NYSE: BLND), a company focused on transforming the financial services industry, reported its financial results for the fiscal year ended December 31, 2025. The company's total revenue reached $123.6 million, an increase of 7% compared to $115.8 million in 2024. This growth was primarily driven by a 34% increase in Consumer Banking Suite revenue, which rose to $45.2 million, while Mortgage Suite revenue decreased by 6% to $69.2 million. Professional services revenue also saw a slight increase of 3%, reaching $9.1 million.
The company's cost of revenue remained relatively stable at $32.4 million in 2025, compared to $32.5 million in the previous year. As a result, Blend Labs reported a gross profit of $91.2 million, representing a gross margin of 74%, compared to a gross profit of $83.2 million and a 72% gross margin in 2024. Operating expenses decreased by 15% to $112.9 million, driven by reductions in research and development and sales and marketing expenses, partially offset by an increase in general and administrative expenses. The company's net loss from continuing operations was $(1.1) million, a significant improvement compared to the $(42.8) million loss in 2024.
Strategic developments for Blend Labs in 2025 included the decision to exit the title business, classifying it as a discontinued operation, and the subsequent sale of substantially all assets and liabilities of the title insurance business to Covius Services, LLC, which was completed in March 2026. This strategic shift aims to transform Blend into a platform-first company, expanding its partner ecosystem. The company also continued its focus on cost efficiency, implementing workforce reduction plans and optimizing its facilities footprint. As of December 31, 2025, Blend Labs had 419 employees.
Looking ahead, Blend Labs' board of directors authorized a new share repurchase program for up to $50.0 million of the company's Class A common stock in March 2026. The company anticipates that its existing cash, cash equivalents, and marketable securities, along with cash collections from customers, will be sufficient to meet its working capital and capital expenditure needs for at least the next 12 months. However, the company acknowledges that its future capital requirements will depend on various factors, including continued customer growth, research and development spending, and market adoption of its platform.
About Blend Labs, Inc.
Blend Labs, Inc. provides a cloud-based digital origination platform and suite of software products that streamline consumer banking experiences and back-office workflows for financial services firms. Its offerings support mortgages, home equity, vehicle loans, personal loans, credit cards, and deposit accounts. Serving banks, credit unions, fintechs, and mortgage lenders primarily in the U.S., Blend integrates extensive technology and data partners to enhance efficiency, compliance, and consumer engagement through a scalable, modular SaaS model.
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