← Blend Labs, Inc.
| Annual Trend | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | $50.7m |
$96.0m
+89.51%
|
$234.5m
+144.19%
|
$235.2m
+0.30%
|
$156.8m
-33.31%
|
$162.0m
+3.30%
|
$123.6m
-23.72%
|
$129.8m
+5.02%
|
|
| Total cost of revenue | $19.5m |
$34.3m
+75.42%
|
$118.5m
+245.61%
|
$145.6m
+22.82%
|
$75.7m
-47.98%
|
$71.5m
-5.59%
|
$32.4m
-54.64%
|
— | |
| Gross profit | $31.1m |
$61.7m
+98.37%
|
$116.0m
+87.87%
|
$89.7m
-22.71%
|
$81.1m
-9.50%
|
$90.5m
+11.60%
|
$91.2m
+0.69%
|
$97.1m
+6.46%
|
|
| Research and development | $48.6m | $55.5m | $92.2m | $138.1m | $81.6m | $46.1m | $32.8m | $35.6m | |
| Sales and marketing | $37.7m | $51.4m | $84.1m | $85.2m | $60.1m | $36.0m | $29.1m | — | |
| General and administrative | $26.6m | $30.1m | $128.8m | $139.1m | $70.7m | $50.6m | $50.1m | $48.4m | |
| Restructuring | — | $0 | $0 | $15.3m | $24.9m | $7.5m | $871k | $790k | |
| Total operating expenses | $112.8m | $137.0m | $313.2m | $835.8m | $237.4m | $140.2m | $112.9m | $111.8m | |
| Loss from operations | ($81.7m) |
($75.3m)
+7.87%
|
($197.2m)
-161.97%
|
($746.2m)
-278.31%
|
($156.2m)
+79.06%
|
($49.6m)
+68.24%
|
($21.7m)
+56.20%
|
— | |
| Interest expense | $0 | $0 | ($11.3m) | ($24.8m) | ($30.8m) | ($6.7m) | $0 | $0 | |
| Other income (expense), net | $283k | $700k | $493k | $4.9m | $7.2m | $13.1m | $20.9m | $18.2m | |
| Loss before income taxes | ($81.4m) | ($74.6m) | ($208.0m) | ($766.1m) | ($179.8m) | ($43.3m) | ($878k) | — | |
| Income tax expense | ($13k) | ($26k) | $38.9m | $2.2m | ($94k) | ($109k) | ($249k) | $360k | |
| Net loss | ($81.5m) | ($74.6m) | ($169.1m) | ($763.8m) | ($179.9m) | ($43.4m) | ($7.0m) | — | |
| Net loss attributable to Blend Labs, Inc. | ($81.5m) | ($74.6m) | ($169.9m) | ($720.2m) | ($178.7m) | ($43.3m) | ($6.8m) | — | |
| Net loss attributable to Blend Labs, Inc. common stockholders, basic | ($81.5m) | ($171.3m) | ($74.6m) | ($768.6m) | ($185.3m) | ($60.5m) | ($25.9m) | — | |
| Net loss attributable to Blend Labs, Inc. common stockholders, diluted | ($81.5m) | ($171.3m) | ($74.6m) | ($768.6m) | ($185.3m) | ($60.5m) | ($25.9m) | — | |
| Net loss per share attributable to Blend Labs, Inc. common stockholders, basic (in dollars per share) | ($2) | ($2) | ($1) | ($3) | ($1) | ($0) | ($0) | — | |
| Net loss per share attributable to Blend Labs, Inc. common stockholders, diluted (in dollars per share) | ($2) | ($2) | ($1) | ($3) | ($1) | ($0) | ($0) | — | |
| Less: Net loss attributable to noncontrolling interest included in discontinued operations | — | — | — | — | $1.2m | $74k | $182k | — | |
| Continuing operations, basic (in dollars per share) | — | — | — | — | ($0.69) | ($0.21) | ($0.07) | — | |
| Continuing operations, diluted (in dollars per share) | — | — | — | — | ($0.69) | ($0.21) | ($0.07) | — | |
| Discontinuing operations, basic (in dollars per share) | — | — | — | — | ($0.07) | ($0.03) | ($0.03) | — | |
| Discontinuing operations, diluted (in dollars per share) | — | — | — | — | ($0.07) | ($0.03) | ($0.03) | — | |
| Basic (in shares) | $32.8m | $39.4m | $132.0m | $234.2m | $245.2m | $253.9m | $258.9m | $253.3m | |
| Diluted (in shares) | $32.8m | $39.4m | $132.0m | $234.2m | $245.2m | $253.9m | $258.9m | $253.3m | |
| Loss from continuing operations | — | — | — | — | ($167.5m) | ($42.8m) | ($1.1m) | — | |
| Loss from discontinued operations (Note 16) | — | — | — | — | ($12.4m) | ($659k) | ($5.9m) | — | |
| Less: Accretion of redeemable noncontrolling interest to redemption value from discontinued operations | — | — | — | — | ($6.6m) | ($6.3m) | ($1.3m) | — | |
| Less: Accretion of Series A redeemable convertible preferred stock to redemption value | $0 | $0 | ($1.4m) | ($48.4m) | ($6.6m) | ($10.9m) | ($17.8m) | — | |
| Unrealized (loss) gain on marketable securities | $143k | ($98k) | ($794k) | ($135k) | $1.0m | $87k | ($100k) | — | |
| Foreign currency translation gain | $0 | $0 | ($9k) | $235k | $119k | $74k | $95k | — | |
| Comprehensive loss | ($81.3m) | ($74.7m) | ($169.9m) | ($763.7m) | ($178.7m) | ($43.3m) | ($7.0m) | — | |
| Less: Comprehensive loss attributable to noncontrolling interest included in discontinued operations | $0 | $0 | ($771k) | $43.6m | $1.2m | $74k | $182k | — | |
| Comprehensive loss attributable to Blend Labs, Inc. | ($81.3m) | ($74.7m) | ($170.7m) | ($720.1m) | ($177.5m) | ($43.2m) | ($6.8m) | — |