Blend Labs Inc
NYSE:BLND
Income Statement
Earnings Waterfall
Blend Labs Inc
Income Statement
Blend Labs Inc
| Dec-2020 | Mar-2021 | Jun-2021 | Sep-2021 | Dec-2021 | Mar-2022 | Jun-2022 | Sep-2022 | Dec-2022 | Mar-2023 | Jun-2023 | Sep-2023 | Dec-2023 | Mar-2024 | Jun-2024 | Sep-2024 | Dec-2024 | Mar-2025 | Jun-2025 | Sep-2025 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | |||||||||||||||||||||
| Interest Expense |
0
|
0
|
0
|
6
|
11
|
17
|
23
|
23
|
25
|
27
|
29
|
31
|
31
|
28
|
22
|
0
|
7
|
0
|
0
|
0
|
|
| Revenue |
96
N/A
|
112
+17%
|
122
+9%
|
184
+50%
|
235
+27%
|
274
+17%
|
308
+12%
|
273
-11%
|
235
-14%
|
201
-15%
|
178
-11%
|
164
-8%
|
157
-4%
|
154
-2%
|
152
-2%
|
157
+3%
|
162
+3%
|
154
-5%
|
145
-6%
|
133
-9%
|
|
| Gross Profit | |||||||||||||||||||||
| Cost of Revenue |
(34)
|
(38)
|
(41)
|
(81)
|
(119)
|
(150)
|
(178)
|
(163)
|
(146)
|
(124)
|
(103)
|
(88)
|
(76)
|
(71)
|
(71)
|
(71)
|
(71)
|
(62)
|
(52)
|
(41)
|
|
| Gross Profit |
62
N/A
|
75
+21%
|
81
+9%
|
103
+27%
|
116
+13%
|
124
+7%
|
129
+4%
|
110
-15%
|
90
-19%
|
77
-15%
|
75
-2%
|
76
+1%
|
81
+7%
|
83
+3%
|
82
-2%
|
86
+5%
|
91
+6%
|
91
+1%
|
93
+2%
|
91
-2%
|
|
| Operating Income | |||||||||||||||||||||
| Operating Expenses |
(137)
|
(154)
|
(179)
|
(256)
|
(313)
|
(364)
|
(403)
|
(379)
|
(371)
|
(337)
|
(296)
|
(258)
|
(212)
|
(186)
|
(163)
|
(147)
|
(133)
|
(120)
|
(113)
|
(110)
|
|
| Selling, General & Administrative |
(82)
|
(93)
|
(112)
|
(173)
|
(213)
|
(241)
|
(262)
|
(233)
|
(224)
|
(203)
|
(180)
|
(158)
|
(131)
|
(117)
|
(103)
|
(96)
|
(87)
|
(81)
|
(80)
|
(77)
|
|
| Research & Development |
(56)
|
(61)
|
(67)
|
(79)
|
(92)
|
(110)
|
(125)
|
(134)
|
(138)
|
(129)
|
(116)
|
(100)
|
(82)
|
(70)
|
(60)
|
(52)
|
(46)
|
(39)
|
(34)
|
(32)
|
|
| Depreciation & Amortization |
0
|
0
|
0
|
(4)
|
(8)
|
(12)
|
(16)
|
(12)
|
(8)
|
(4)
|
(0)
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
| Operating Income |
(75)
N/A
|
(79)
-5%
|
(98)
-24%
|
(153)
-56%
|
(197)
-29%
|
(240)
-22%
|
(273)
-14%
|
(269)
+2%
|
(281)
-5%
|
(260)
+7%
|
(221)
+15%
|
(182)
+18%
|
(131)
+28%
|
(103)
+22%
|
(82)
+21%
|
(62)
+24%
|
(42)
+32%
|
(29)
+31%
|
(20)
+30%
|
(18)
+11%
|
|
| Pre-Tax Income | |||||||||||||||||||||
| Interest Income Expense |
0
|
0
|
0
|
(6)
|
(11)
|
(17)
|
(23)
|
(23)
|
(25)
|
(27)
|
(29)
|
(31)
|
(31)
|
(28)
|
(20)
|
(11)
|
3
|
2
|
2
|
17
|
|
| Non-Reccuring Items |
0
|
0
|
0
|
0
|
0
|
0
|
(398)
|
(462)
|
(465)
|
(478)
|
(82)
|
(27)
|
(25)
|
(13)
|
(17)
|
(5)
|
(4)
|
(4)
|
(3)
|
(6)
|
|
| Total Other Income |
1
|
1
|
0
|
0
|
1
|
0
|
0
|
3
|
5
|
8
|
11
|
10
|
7
|
10
|
7
|
4
|
0
|
2
|
8
|
9
|
|
| Pre-Tax Income |
(75)
N/A
|
(79)
-6%
|
(98)
-24%
|
(159)
-62%
|
(208)
-31%
|
(256)
-23%
|
(694)
-171%
|
(751)
-8%
|
(766)
-2%
|
(757)
+1%
|
(321)
+58%
|
(230)
+28%
|
(180)
+22%
|
(134)
+25%
|
(112)
+16%
|
(73)
+35%
|
(43)
+41%
|
(29)
+32%
|
(13)
+54%
|
2
N/A
|
|
| Net Income | |||||||||||||||||||||
| Tax Provision |
0
|
(0)
|
45
|
45
|
39
|
42
|
(4)
|
(3)
|
2
|
(1)
|
(1)
|
(1)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
|
| Income from Continuing Operations |
(75)
|
(79)
|
(52)
|
(114)
|
(169)
|
(214)
|
(697)
|
(754)
|
(764)
|
(758)
|
(322)
|
(231)
|
(180)
|
(134)
|
(112)
|
(73)
|
(43)
|
(29)
|
(14)
|
1
|
|
| Income to Minority Interest |
0
|
0
|
0
|
(1)
|
(1)
|
(2)
|
(3)
|
(4)
|
(5)
|
(5)
|
(5)
|
(5)
|
(5)
|
(6)
|
(8)
|
(13)
|
(17)
|
0
|
(11)
|
0
|
|
| Net Income (Common) |
(75)
N/A
|
(73)
+2%
|
(52)
+28%
|
(114)
-118%
|
(171)
-50%
|
(224)
-31%
|
(702)
-214%
|
(759)
-8%
|
(769)
-1%
|
(763)
+1%
|
(327)
+57%
|
(236)
+28%
|
(185)
+22%
|
(140)
+24%
|
(121)
+14%
|
(86)
+29%
|
(60)
+29%
|
(53)
+12%
|
(40)
+24%
|
(24)
+40%
|
|
| EPS (Diluted) |
-0.34
N/A
|
-0.32
+6%
|
-0.23
+28%
|
-0.57
-148%
|
-0.75
-32%
|
-0.97
-29%
|
-3.01
-210%
|
-3.22
-7%
|
-3.28
-2%
|
-3.15
+4%
|
-1.33
+58%
|
-0.95
+29%
|
-0.76
+20%
|
-0.58
+24%
|
-0.49
+16%
|
-0.34
+31%
|
-0.24
+29%
|
-0.2
+17%
|
-0.15
+25%
|
-0.09
+40%
|
|