Quarterly ResultMay 7, 2026, 04:03 PM
Blend Labs Q1 Revenue $30.8M, Non-GAAP Operating Income $4.1M
AI Summary
Blend Labs, Inc. announced its first quarter 2026 financial results, with total revenue of $30.8 million and non-GAAP operating income of $4.1 million, both exceeding guidance. The company also repurchased 11.2 million shares for $18.6 million and expanded 15 customer relationships.
Key Highlights
- Total revenue increased 15% year-over-year to $30.8 million, exceeding guidance.
- Non-GAAP operating income rose to $4.1 million from $0.7 million, above guidance.
- Non-GAAP gross profit margin improved to 80% from 73% in Q1 2025.
- Repurchased 11.2 million shares for $18.6 million, with $31.4 million remaining on authorization.
- Added or expanded 15 customer relationships; pipeline up over 40% year-over-year.
- Q2 2026 revenue guidance set between $32.0 million and $34.0 million.
- Q2 2026 non-GAAP operating income guidance between $5.5 million and $6.5 million.