Blend Labs announced Q1 2026 financial results ahead of guidance with revenue of $30.8 million up 15% year-over-year and non-GAAP operating income of $4.1 million.
Key takeaways
Total revenue $30.8M, up 15% from Q1 2025, exceeding guidance high end.
Software platform revenue $28.0M, up 15% YoY; professional services $2.9M vs $2.5M.
GAAP gross margin 76% (up from 71%); non-GAAP 80% (up from 73%).
Non-GAAP operating income $4.1M vs $0.7M in Q1 2025; GAAP loss narrowed to $5.1M.
Repurchased 11.2M shares for $18.6M; $31.4M remaining on authorization.
Q2 2026 guidance: revenue $32-34M, non-GAAP operating income $5.5-6.5M.