Filing Flows › Blend Labs (BLND) › Q1 2026
Blend Labs (BLND) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Blend Labs (BLND) reported revenue of $30.8M for the first quarter 2026 (Q1 2026), +15% from a year earlier and -2% from the quarter before. Operating margin was -16.4%, net loss $8.0M (26.1% of revenue).
Blend Labs, Q1 2026: revenue $30.8M (+15% year over year), operating margin -16.4%, net loss $8.0M, operating cash flow $7.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $30.8M | -2% | +15% |
| Operating profit | −$5.1M | — | — |
| Net earnings | −$8.0M | — | — |
| Operating cash flow | $7.4M | +378% | -63% |
| Free cash flow | $6.2M | — | -61% |
What changed
Revenue was $30.8M in Q1 2026, up 15% year over year and down 2% from the previous quarter. Mortgage Suite was the largest line at 56% of revenue. Mortgage Suite added $2.6M year over year (up 18%), 64% of the total change.
Gross margin was 75.8%, up 5.0 points from Q1 2025. Operating costs exceeded revenue by $5.1M, an operating margin of -16.4%. Operating expenses grew 5% against revenue growth of 15%. The fastest-growing cost line was Research & development (+20%). The quarter ended with a net loss of $8.0M, wider than the previous quarter's $2.5M loss.
Operating cash flow was $7.4M (down 63% year over year). Non-cash charges added back $1.3M of depreciation and amortization and $6.8M of share-based compensation. Working capital and other items added $7.3M. Capital expenditures of $1.1M left free cash flow of $6.2M.
Questions
What was Blend Labs' revenue in the first quarter 2026?
Blend Labs (BLND) reported revenue of $30.8M for the first quarter 2026 (Q1 2026), +15% from a year earlier and -2% from the quarter before.
Was Blend Labs profitable in the first quarter 2026?
Operating loss was $5.1M (-16.4% of revenue) and net loss $8.0M.
Source: Blend Labs 10-Q on SEC EDGAR.