Short answer
Blend Labs, Inc. (BLND) filed its Q3 2025 10-Q quarterly report on Nov 6, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $33M (down 27.3% year over year) with net income of $13M.
Q3 2025 key financials · XBRL
- Revenue
- $33M
- −27.3% YoY · +4.2% QoQ
- Net income
- $13M
- +612.6% YoY · +288.6% QoQ
- Operating margin
- -14.9%
- Gross margin
- 74.4%
- EPS (diluted)
- −$0.07
- −133.3% YoY
Source: XBRL data from the Blend Labs, Inc. (BLND) Q3 2025 10-Q on SEC EDGAR. USD.
Blend Labs, Inc. Q3 2025 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Mortgage transactions decreased sequentially in Q3 2025 due primarily to seasonal trends
- Title operations exited; title insurance business sale expected to close later in fiscal 2025
- Q4 2025 industry mortgage originations expected largely in line with Q3 2025 volumes
- Mortgage activity exposed to Federal Reserve policy, tariffs, trade relations, and economic downturn risks
Risk Factors
- Market and mortgage exposure: higher interest rates reduced mortgage and refinance activity, lowering platform transactions and revenue
- Customer concentration: top five Blend Platform customers generated 33.0% of 2024 segment revenue
- Title365 divestiture: 2025 revenue loss may not be recouped on the expected timeline or at all
- Profitability risk: accumulated deficit reached $1,388.3 million as of September 30, 2025
- Regulatory exposure: customer regulators may require termination or limitation of relationships with Blend
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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