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How BLEND LABS, INC. makes its money

Start with a dollar of revenue and follow what the filing says remains.

revenueBranching filed flows with values and percentages directly labeled. Missing filing concepts are omitted rather than estimated.Revenue$124M · 100%Cost of revenue$32.4M · 26%Gross profit$91.2M · 74%Operating income−$21.7M · −18%Income before tax−$878000 · −1%Income tax$249000 · 0%Net income−$6.8M · −6%As of 2025-12-31 · 1 SEC filing sourceBuy Like Buffett · buylikebuffett.com

Honest partial: the filing did not provide a normalized tag for Research and development, Selling, general and administrative; those components are omitted, not plugged.

Table alternative
Filed lineValue% of revenueSource
$124M100%
  • 10-K · FY 2025Filing detailsAccession 0001855747-26-000016 · filed Mar 16, 2026
Cost of revenue$32.4M26%
  • 10-K · FY 2025Filing detailsAccession 0001855747-26-000016 · filed Mar 16, 2026
$91.2M74%
  • 10-K · FY 2025Filing detailsAccession 0001855747-26-000016 · filed Mar 16, 2026
−$21.7M−18%
  • 10-K · FY 2025Filing detailsAccession 0001855747-26-000016 · filed Mar 16, 2026
Income before tax−$878000−1%
  • 10-K · FY 2025Filing detailsAccession 0001855747-26-000016 · filed Mar 16, 2026
Income tax$2490000%
  • 10-K · FY 2025Filing detailsAccession 0001855747-26-000016 · filed Mar 16, 2026
−$6.8M−6%
  • 10-K · FY 2025Filing detailsAccession 0001855747-26-000016 · filed Mar 16, 2026
Source:
  • 10-K · FY 2025Filing detailsAccession 0001855747-26-000016 · filed Mar 16, 2026
· event Dec 31, 2025 · retrieved Oct 16, 2026 · annual-row source set
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