Blend Labs Q1 revenue rises 15%, beats analyst estimates

Blend Labs

07/05/2026 21:12

Overview

US digital banking platform's Q1 revenue rose 15%, beating analyst expectations

Non-GAAP operating income improved to $4.1 mln from $0.7 mln a year earlier

Company repurchased 11.2 mln shares for $18.6 mln in Q1

Outlook

Blend Labs sees Q2 2026 revenue between $32 mln and $34 mln

Company expects Q2 2026 non-GAAP operating income of $5.5 mln to $6.5 mln

Company anticipates growth acceleration in 2027 driven by internal transformation and Autopilot platform

Result Drivers

SOFTWARE PLATFORM GROWTH - Software platform revenue rose 15% year-over-year, contributing to overall revenue growth

CUSTOMER EXPANSION - Co added or expanded 15 customer relationships in Q1 and reported a pipeline up more than 40% year-over-year

Company press release: ID:nBw61zZcJa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$30.84 mln
$29.53 mln (6 Analysts)
Q1 Net Loss
$8.05 mln
Q1 Gross Profit
$23.37 mln
Q1 Loss from operations
$5.06 mln
Q1 Loss before income taxes
-$5.02 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

The average consensus recommendation for the software peer group is "buy"

Wall Street's median 12-month price target for Blend Labs Inc is $4.00, about 150% above its May 6 closing price of $1.60

The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 31 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)