Blend Labs, Inc. ( (BLND) ) has released its Q2 earnings. Here is a breakdown of the information Blend Labs, Inc. presented to its investors.
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Blend Labs, Inc. is a prominent platform in the digital banking solutions sector, offering services to a range of financial institutions including banks, fintechs, and mortgage banks. The company recently reported its second quarter 2025 financial results, marking its fourth consecutive quarter of year-over-year revenue growth and achieving a record in remaining performance obligations.
In the second quarter of 2025, Blend Labs reported a total revenue of $31.5 million, reflecting a 10% increase from the previous year. The company also improved its GAAP loss from operations to $4.6 million, a significant reduction from the $13.1 million loss in the same period last year. Notably, Blend achieved non-GAAP profitability for the fourth consecutive quarter, with a non-GAAP operating income of $4.7 million.
Key highlights from the report include the acceleration of sales momentum with 23 new or expanded deals, doubling the number from the first quarter. This growth was driven by new customer acquisitions and expanded product offerings. Additionally, Blend ended the quarter with a record $190.4 million in remaining performance obligations, bolstered by a $50 million renewal and expansion deal.
Looking ahead, Blend Labs’ management remains optimistic about future growth opportunities, particularly as they continue to simplify their operations by transitioning to a higher-margin partnership model with the sale of Title365. The company anticipates a slight increase in U.S. mortgage originations in the third quarter of 2025, with expectations for continued strategic growth and operational efficiency.