Reading the tape
NYSE: BLND
Blend Labs, Inc.
Technology · Software - Application
Market Cap
$388.40M
52w High
$4.49
52w Low
$1.33
P/E
-55.02
Volume
2.61M
Outstanding Shares
253.86M
Price vs Fundamentals
Why The Stock Is Moving
Likely multiple compressionModerate confidence
Note: The most recent financial data is over 3 months old. Metrics shown may not reflect the latest reporting period.
1Y Price: -53.07%Revenue (TTM): -11.22%FCF (TTM): 99.65%P/S: 33rd pct
What changed
The stock fell 53.07% over the last year. Revenue declined 11.22% over the trailing twelve months. Operating margin moved from -35.5% to -16.86%. Free cash flow grew 99.65% over the trailing twelve months.
What the market seems to be pricing
Visible fundamentals weakened far less than the stock price. The market appears to be discounting durability, risk, or trust rather than just the latest reported numbers.
What would invalidate this read
This read changes if operating margin (currently -16.86%) continues to decline, or if revenue growth turns negative. The bull case requires the business to hold its current trajectory.
Company profile
Blend Labs, Inc. provides cloud-based software platform solutions for financial services firms in the United States.
CEONima Ghamsari
SectorTechnology
IndustrySoftware - Application
Employees540
IPO dateJul 16, 2021
Valuation
Forward P/E—
EV/EBITDA-52.83
Enterprise value$904.6M
Stock splits
No stock splits recorded for this ticker.
Profitability & growth
Revenue growth-21.83%
Gross margin73.74%▲31.97%vs FY2024
Operating margin-16.86%▲44.63%vs FY2024
ROE22.26%▼74.71%vs FY2024
Analyst consensus
RatingBuy
Target price$2.00▲30.72%
7
Buy
5
Hold
0
Sell
Analyst ratings tend to be lagging indicators. Use as one signal among many.
Earnings
Full quarter-by-quarter history of actuals vs estimates. Switch into compare mode to inspect one metric year-over-year.
Next report
May 7, 2026
Q2 FY26 · EPS est $0.02 · Revenue est $30.02M
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