(BLND) Blend Labs - Overview

Sector: Technology | Industry: Software - Application | Exchange: NYSE (USA) | Market Cap: 383m USD | Total Return: -57.9% in 12m

Mortgage Software, Consumer Lending, Banking Platform, Loan Automation
Total Rating 14
Safety 35
Buy Signal -0.08
Software - Application
Industry Rotation: +0.2
Market Cap: 383M
Avg Turnover: 5.01M
Risk 3d forecast
Volatility91.9%
VaR 5th Pctl14.9%
VaR vs Median-1.71%
Reward TTM
Sharpe Ratio-0.96
Rel. Str. IBD2.7
Rel. Str. Peer Group8.9
Character TTM
Beta1.291
Beta Downside1.183
Hurst Exponent0.520
Drawdowns 3y
Max DD74.21%
CAGR/Max DD0.26
CAGR/Mean DD0.73
EPS (Earnings per Share) EPS (Earnings per Share) of BLND over the last years for every Quarter: "2021-03": 0.0218, "2021-06": -0.51, "2021-09": -0.13, "2021-12": -0.19, "2022-03": -0.19, "2022-06": -0.19, "2022-09": -0.19, "2022-12": -0.21, "2023-03": -0.15, "2023-06": -0.09, "2023-09": -0.09, "2023-12": -0.09, "2024-03": -0.06, "2024-06": -0.02, "2024-09": 0.006, "2024-12": -0.0253, "2025-03": 0.0079, "2025-06": -0.03, "2025-09": 0.0207, "2025-12": 0.0254, "2026-03": 0.017,
Last SUE: 0.21
Qual. Beats: 0
Revenue Revenue of BLND over the last years for every Quarter: 2021-03: 31.875, 2021-06: 32.062, 2021-09: 89.568, 2021-12: 80.99, 2022-03: 71.524, 2022-06: 65.539, 2022-09: 55.353, 2022-12: 42.785, 2023-03: 37.336, 2023-06: 42.815, 2023-09: 40.591, 2023-12: 36.104, 2024-03: 23.84, 2024-06: 28.696, 2024-09: 45.184, 2024-12: 41.408, 2025-03: 26.77, 2025-06: 31.523, 2025-09: 32.86, 2025-12: 32.432, 2026-03: 30.843,
Rev. CAGR: -9.32%
Rev. Trend: -81.1%
Last SUE: 0.21
Qual. Beats: 0

Warnings

High Debt/EBITDA (23.3) with thin interest coverage (1.3)

High Debt while negative Cash Flow

Altman Z'' -15.00 < 1.0 - financial distress zone

Tailwinds

No distinct edge detected

Description: BLND Blend Labs

Blend Labs, Inc. operates a cloud-based software-as-a-service (SaaS) platform designed to digitize the consumer lending and deposit account lifecycle for financial institutions. The company’s architecture, centered around the Blend Builder platform, allows banks and credit unions to automate underwriting tasks, verify borrower income, and integrate third-party data via APIs. By modularizing workflows for mortgages, vehicle loans, and credit cards, the technology aims to reduce manual intervention and shorten loan origination cycles.

The company operates within the application software sector, specifically targeting the digital transformation of legacy banking infrastructure. A key component of this business model is the integration of AI and decisioning engines to streamline regulatory compliance and data collection. Investors often monitor loan origination volumes as a primary macro driver for demand in this specific fintech vertical. For a deeper look at the underlying fundamentals, ValueRay provides additional data points.

Headquartered in Novato, California, Blend Labs serves a diverse client base including traditional banks, credit unions, and non-bank mortgage lenders across the United States, Mexico, and India. The platform’s suite extends beyond core lending to include professional consulting and support services to assist firms with digital migration.

Headlines to Watch Out For
  • Mortgage origination volume fluctuations directly impact core platform transaction revenue
  • Shift toward high-margin software subscriptions stabilizes long-term recurring revenue growth
  • Elevated interest rate environment reduces consumer demand for home refinancing products
  • Adoption of AI-driven automation tools enhances mortgage lender operational efficiency
  • Expansion into non-mortgage banking products diversifies revenue away from housing cycles
Piotroski VR‑10 (Strict) 2.5
Net Income: -5.62m TTM > 0 and > 6% of Revenue
FCF/TA: -0.06 > 0.02 and ΔFCF/TA -5.33 > 1.0
NWC/Revenue: 31.29% < 20% (prev 57.62%; Δ -26.33% < -1%)
CFO/TA -0.01 > 3% & CFO -1.53m > Net Income -5.62m
Net Debt (126.2m) to EBITDA (5.41m): 23.33 < 3
Current Ratio: 1.78 > 1.5 & < 3
Outstanding Shares: last quarter (255.6m) vs 12m ago -1.24% < -2%
Gross Margin: 74.87% > 18% (prev 0.63%; Δ 7.42k% > 0.5%)
Asset Turnover: 73.05% > 50% (prev 75.46%; Δ -2.41% > 0%)
Interest Coverage Ratio: 1.30 > 6 (EBITDA TTM 5.41m / Interest Expense TTM 1.00m)
Altman Z'' -15.00
A: 0.25 (Total Current Assets 91.4m - Total Current Liabilities 51.5m) / Total Assets 161.3m
B: -8.68 (Retained Earnings -1.40b / Total Assets 161.3m)
C: 0.01 (EBIT TTM 1.30m / Avg Total Assets 174.8m)
D: -6.44 (Book Value of Equity -1.40b / Total Liabilities 217.2m)
Altman-Z'' Score: -33.39 = D
Beneish M -2.21
DSRI: 1.75 (Receivables 21.2m/13.5m, Revenue 127.7m/142.1m)
GMI: 0.85 (GM 74.87% / 63.37%)
AQI: 1.73 (AQ_t 0.29 / AQ_t-1 0.17)
SGI: 0.90 (Revenue 127.7m / 142.1m)
TATA: -0.03 (NI -5.62m - CFO -1.53m) / TA 161.3m)
Beneish M-Score: -2.21 (Cap -4..+1) = BB
What is the price of BLND shares? As of May 22, 2026, the stock is trading at USD 1.53 with a total of 4,723,038 shares traded.
Over the past week, the price has changed by +4.79%, over one month by -4.97%, over three months by -10.00% and over the past year by -57.85%.
Is BLND a buy, sell or hold? Blend Labs has received a consensus analysts rating of 4.14. Therefore, it is recommended to buy BLND.
  • StrongBuy: 3
  • Buy: 2
  • Hold: 2
  • Sell: 0
  • StrongSell: 0
What are the forecasts/targets for the BLND price?
Analysts Target Price 3.6 134%
Blend Labs (BLND) - Fundamental Data Overview as of 20 May 2026
P/E Forward = 19.7239
P/S = 2.9984
P/B = 2.0038
Revenue TTM = 127.7m USD
EBIT TTM = 1.30m USD
EBITDA TTM = 5.41m USD
Long Term Debt = 1.48m USD (from capitalLeaseObligations, last fiscal year)
Short Term Debt = 254k USD (from shortTermDebt, last quarter)
Debt = 165.6m USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 126.2m USD (from netDebt column, last quarter)
Enterprise Value = 487.2m USD (382.5m + Debt 165.6m - CCE 61.0m)
Interest Coverage Ratio = 1.30 (Ebit TTM 1.30m / Interest Expense TTM 1.00m)
EV/FCF = -50.49x (Enterprise Value 487.2m / FCF TTM -9.65m)
FCF Yield = -1.98% (FCF TTM -9.65m / Enterprise Value 487.2m)
FCF Margin = -7.56% (FCF TTM -9.65m / Revenue TTM 127.7m)
Net Margin = -4.40% (Net Income TTM -5.62m / Revenue TTM 127.7m)
Gross Margin = 74.87% ((Revenue TTM 127.7m - Cost of Revenue TTM 32.1m) / Revenue TTM)
Gross Margin QoQ = 75.75% (prev 75.38%)
Tobins Q-Ratio = 3.02 (Enterprise Value 487.2m / Total Assets 161.3m)
Interest Expense / Debt = 0.61% (Interest Expense 1.00m / Debt 165.6m)
Taxrate = 21.0% (US default 21%)
NOPAT = 1.03m (EBIT 1.30m * (1 - 21.00%))
Current Ratio = 1.78 (Total Current Assets 91.4m / Total Current Liabilities 51.5m)
 Debt / Equity = -2.96 (negative equity) (Debt 165.6m / totalStockholderEquity, last quarter -55.9m)
 Debt / EBITDA = 23.33 (Net Debt 126.2m / EBITDA 5.41m)
 Debt / FCF = -13.08 (negative FCF - burning cash) (Net Debt 126.2m / FCF TTM -9.65m)
 Total Stockholder Equity = 45.9m (last 4 quarters mean from totalStockholderEquity)
RoA = -3.22% (Net Income -5.62m / Total Assets 161.3m)
RoE = -12.24% (Net Income TTM -5.62m / Total Stockholder Equity 45.9m)
RoCE = 2.75% (EBIT 1.30m / Capital Employed (Equity 45.9m + L.T.Debt 1.48m))
RoIC = -4.71% (NOPAT 1.03m / Invested Capital -21.8m)
WACC = 7.49% (E(382.5m)/V(548.1m) * Re(10.52%) + D(165.6m)/V(548.1m) * Rd(0.61%) * (1-Tc(0.21)))
Discount Rate = 10.52% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 64.44 | Cagr: 1.24%
 [DCF] Fair Price = unknown (Cash Flow -9.65m)
 EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.21 | # QB: 0
Revenue Correlation: -81.05 | Revenue CAGR: -9.32% | SUE: 0.21 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.02 | Chg30d=N/A | Revisions=-33% | Analysts=4
EPS next Quarter (2026-09-30): EPS=0.02 | Chg30d=N/A | Revisions=-20% | Analysts=5
EPS current Year (2026-12-31): EPS=0.06 | Chg30d=-24.32% | Revisions=-25% | GrowthEPS=-23.0% | GrowthRev=+6.6%
EPS next Year (2027-12-31): EPS=0.10 | Chg30d=-16.39% | Revisions=-33% | GrowthEPS=+82.1% | GrowthRev=+12.2%
[Analyst] Revisions Ratio: -33%