Filing Flows

Filing Flows › Companies › Blend Labs › Cash flow

Blend Labs cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$94K in Q3 2026 · $13.4M over twelve months

Operating cash flow$863K
Capital spending−$769K
Free cash flow+$94K

Analysis

In Q3 2026, Blend Labs generated $863K of operating cash flow and spent $769K on capital projects, leaving free cash flow of $94K. That is $5.9M more than in Q3 2025 (−$5.8M).

Over the twelve months to Sep 30, 2026, operating cash flow was $17.7M; the largest uses were buybacks ($53.0M), taxes on employees’ shares ($5.3M), capital spending ($4.3M); besides operations, cash came from other investing ($2.4M), shares issued ($243K); the cash balance fell by $42.2M.

Operating cash flow was $863K against net income of −$1.9M. The largest differences: stock-based pay +$6.0M, prepaid and other assets −$5.3M, deferred revenue −$4.4M.

Free cash flow

Blend Labs: free cash flow by quarterBlend Labs: free cash flow by quarter−$7.1MQ4 2024$15.8MQ1 2025−$10.1MQ2 2025−$5.8MQ3 2025−$21KQ4 2025$6.2MQ1 2026$7.1MQ2 2026$94KQ3 2026
Operating cash flow less capital spending.
Blend Labs: operating cash flow against capital spendingBlend Labs: operating cash flow against capital spendingOperating cash flowCapital spending−$4.6M$2.5MQ4 2024$20.1M$4.3MQ1 2025−$6.5M$3.6MQ2 2025−$3.6M$2.1MQ3 2025$1.5M$1.6MQ4 2025$7.4M$1.1MQ1 2026$7.9M$825KQ2 2026$863K$769KQ3 2026
Latest (Q3 2026): Operating cash flow $863K, Capital spending $769K.

Capital allocation, year by year

Blend Labs: where the cash came from (up) and went (down), by fiscal yearBlend Labs: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksFY2021: Operating cash flow −$128MFY2021: Net borrowing $219MFY2021: Shares issued $702MFY2021: Capital spending −$1.9MFY2021: Acquisitions −$400MFY2021: Buybacks −$131K$921MFY2021FY2022: Operating cash flow −$190MFY2022: Shares issued $2.2MFY2022: Capital spending −$2.1M$2.2MFY2022FY2023: Operating cash flow −$128MFY2023: Net borrowing −$85.1MFY2023: Shares issued $268KFY2023: Capital spending −$35K$268KFY2023FY2024: Operating cash flow −$13.0MFY2024: Net borrowing −$144MFY2024: Shares issued $132MFY2024: Asset sales $9.1MFY2024: Capital spending −$9.7M$142MFY2024FY2025: Operating cash flow $11.5MFY2025: Shares issued $132MFY2025: Capital spending −$11.6MFY2025: Buybacks −$24.9M$144MFY2025
Over these 5 years operating cash flow totalled −$447M; the largest uses were operating cash flow ($459M) and acquisitions ($400M). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$44.2M
Debtnone
Net cash$44.2M

Blend Labs funds itself: free cash flow was $13.4M over the last twelve months, with $44.2M of cash and investments and no debt on the balance sheet.

Where the cash came from and went

Blend Labs: sources (+) and uses (−) of cash, Q3 2026Blend Labs: sources (+) and uses (−) of cash, Q3 2026Cash drawn (+) / kept (−)$2.6MOther investing−$1.4MTaxes on employees’ shares−$1.3MOperating cash flow$863KCapital spending−$769KExchange rates−$7K
Blend Labs: sources (+) and uses (−) of cash, TTM to Q3 2026Blend Labs: sources (+) and uses (−) of cash, TTM to Q3 2026Buybacks−$53.0MCash drawn (+) / kept (−)$42.2MOperating cash flow$17.7MTaxes on employees’ shares−$5.3MCapital spending−$4.3MOther investing$2.4MShares issued$243KExchange rates−$31K

From profit to cash

Blend Labs: net income to operating cash flow, Q3 2026Blend Labs: net income to operating cash flow, Q3 2026Net income−$1.9MDepreciation & amortization$1.6MStock-based pay$6.0MOther non-cash$54KReceivables$3.9MPayables$761KEmployee-related liabilities$2.0MDeferred revenue−$4.4MPrepaid and other assets−$5.3MOther liabilities−$842KOperating cash flow$863K
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingBuybacksShares issuedCash drawn (+) / kept (−)Free cash flow
Q3 2026$863K−$769K——$2.6M$94K
Q2 2026$7.9M−$825K−$20.4M—$14.1M$7.1M
Q1 2026$7.4M−$1.1M−$16.8M$131M$7.6M$6.2M
Q4 2025$1.5M−$1.6M−$15.7M$147K$17.8M−$21K
Q3 2025−$3.6M−$2.1M−$5.0M$712K−$17.7M−$5.8M
Q2 2025−$6.5M−$3.6M−$1.6M$430K$20.9M−$10.1M
Q1 2025$20.1M−$4.3M−$2.6M$131M−$18.4M$15.8M
Q4 2024−$4.6M−$2.5M—$789K$12.8M−$7.1M

Blend Labs: income statement and cash flow

Blend Labs, Q3 2026: revenue $32.9M (+0.7% year over year), operating margin -8.0%. The chart follows the revenue to costs, profit and cash.

Blend Labs: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.