Blend Labs (BLND) Cost of Revenue (2020 - 2026)
Blend Labs' Cost of Revenue was $8.95 million in Q2 2026, up 8.2% from $8.27 million a year earlier and up 19.7% from the prior quarter.
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Analysis
Blend Labs (BLND) Cost of Revenue (2020 - 2026) Analysis & Trends
On a trailing twelve-month basis, Blend Labs' Cost of Revenue was $33.12 million through Jun 30, 2026, up 1.9% year-over-year; for FY2025, it came in at $32.42 million, down 0.4% from FY2024.
- Cost of Revenue has now declined for three consecutive years, with a five-year compound annual growth rate of -1.1% (FY2020 to FY2025).
- In earlier years, Cost of Revenue was $32.54 million in FY2024 (-1.7%), $33.09 million in FY2023 (-77.3%), $145.55 million in FY2022 (+22.8%) and $118.51 million in FY2021 (+245.6%).
- The Q2 2026 figure marks the highest quarterly Cost of Revenue since Q3 2023.
- Compared with a year earlier, Cost of Revenue was higher in three of the last seven quarters, with an average decline of 6.6%.
- The best year-over-year quarter for Cost of Revenue over five years was Q4 2021 (growth of 424.2%); the worst was Q1 2024 (a decline of 63.7%).
- Per Business Quant data, BLND's Cost of Revenue in the three quarters before Q2 2026 was $7.48 million (Q1 2026), $8.27 million (Q4 2025) and $8.42 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Coinbase Global | 48.27 Bn | 5.08 Bn | - | - |
| 2 | PayPal Holdings | 45.51 Bn | 3.74 Bn | - | - |
| 3 | Block | 44.67 Bn | 15.93 Bn | 3.17 Bn | 3.45 Bn |
| 4 | Iren | 31.78 Bn | 19.37 Bn | 103.89 Mn | 33.34 Mn |
| 5 | Corpay | 25.91 Bn | 16.11 Bn | - | - |
| 6 | Fiserv | 23.59 Bn | 20.29 Bn | 2.90 Bn | 2.40 Bn |
| 7 | Global Payments | 20.83 Bn | -735.18 Mn | 2.03 Bn | 1.29 Bn |
| 8 | Bitmine Immersion Technologies | 15.23 Bn | 12.61 Bn | 40.81 Mn | 5.73 Mn |
| 9 | Guidewire Software | 12.47 Bn | 9.03 Bn | 269.68 Mn | 141.41 Mn |
| 10 | Blend Labs | 241.24 Mn | -9.75 Mn | 24.89 Mn | 8.95 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 8.95 Mn |
| Mar 31, 2026 | 7.48 Mn |
| Dec 31, 2025 | 8.27 Mn |
| Sep 30, 2025 | 8.42 Mn |
| Jun 30, 2025 | 8.27 Mn |
| Mar 31, 2025 | 7.85 Mn |
| Dec 31, 2024 | 7.78 Mn |
| Sep 30, 2024 | 8.60 Mn |
| Jun 30, 2024 | 8.36 Mn |
| Mar 31, 2024 | 7.80 Mn |
| Dec 31, 2023 | -26.24 Mn |
| Sep 30, 2023 | 18.53 Mn |
| Jun 30, 2023 | 19.32 Mn |
| Mar 31, 2023 | 21.48 Mn |
| Dec 31, 2022 | 28.38 Mn |
| Sep 30, 2022 | 34.24 Mn |
| Jun 30, 2022 | 40.27 Mn |
| Mar 31, 2022 | 42.66 Mn |
| Dec 31, 2021 | 46.05 Mn |
| Sep 30, 2021 | 49.24 Mn |
API Access
Blend Labs Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=BLND&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "BLND", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=BLND&period=max&api_key=YOUR_API_KEY");
const data = await res.json();