Short answer
Blend Labs, Inc. (BLND) filed its Q1 2026 10-Q quarterly report on May 7, 2026 for the quarter ended Mar 31, 2026. Quarterly revenue was $31M (up 15.2% year over year) with net income of −$8M.
Q1 2026 key financials · XBRL
- Revenue
- $31M
- +15.2% YoY
- Net income
- −$8M
- +12.8% YoY
- Operating margin
- -16.4%
- Gross margin
- 75.8%
- EPS (diluted)
- −$0.05
Source: XBRL data from the Blend Labs, Inc. (BLND) Q1 2026 10-Q on SEC EDGAR. USD.
Blend Labs, Inc. Q1 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- First-quarter 2026 mortgage transactions decreased sequentially, primarily from seasonal purchase-market trends
- Mortgage origination volumes exposed to Federal Reserve policy, tariffs, trade relations, and potential economic downturn
- Title segment divested March 1, 2026, with results presented as discontinued operations
- Strategic shift toward platform-first operations and partner ecosystem expansion
Risk Factors
- Mortgage and financial-services demand risk, heightened by increased tariffs, adverse trade relations, and economic uncertainty
- Interest-rate risk, with higher rates reducing mortgage borrowing, refinancing, platform transactions, and revenue
- Customer concentration risk, with top five customers representing 39% of 2025 revenue
- Financial reporting compliance risk, with two identified material weaknesses in internal control over financial reporting
- Profitability risk, with accumulated deficit of $1,399.8 million as of March 31, 2026
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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