Blend Labs (BLND) Gross Margin (2020 - 2026)
Blend Labs (BLND) recorded quarterly Gross Margin of 75.75% in Q1 2026, little changed quarter-over-quarter from 75.68% in Q4 2025, and up 498.0% on a YoY basis from 12.67% in Q1 2025.
Blend Labs (BLND) Gross Margin (2020 - 2026) Analysis & Trends
Blend Labs' Gross Margin history runs 7 years deep, the most recent figure standing at 75.75% for Q1 2026.
- In Q1 2026, Gross Margin rose 498.0% year-over-year to 75.75%; the TTM figure through Mar 2026 stood at 74.88% (up 232.0% YoY), while the FY2025 annual figure was 73.77%, up 188.0% from the prior year.
- Gross Margin was 75.75% for Q1 2026 at Blend Labs, roughly flat from 75.68% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 75.75% in Q1 2026 to a low of 134.46% in Q4 2023.
- Historically, Gross Margin has averaged 48.51% across 5 years, with a median of 67.29% in 2024.
- The sharpest annual moves came in 2023 and 2024: Gross Margin plunged 16813 bps in 2023, then soared 20862 bps in 2024.
- A 5-year view of Gross Margin shows it stood at 33.67% in 2022, then sank by 499 bps to 134.46% in 2023, then soared by 155 bps to 74.16% in 2024, then climbed by 2 bps to 75.68% in 2025, then advanced by 0 bps to 75.75% in 2026.
- The last three Gross Margin figures came in at 75.75% (Q1 2026), 75.68% (Q4 2025), and 74.26% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 238.14 Bn | 220.17 Bn | 8.16 Bn | 72.98% |
| 2 | Full Truck Alliance | 166.83 Bn | 164.28 Bn | - | - |
| 3 | Uber Technologies | 150.36 Bn | 149.32 Bn | 11.88 Bn | 89.96% |
| 4 | Shopify | 147.75 Bn | 142.01 Bn | 1.55 Bn | 48.77% |
| 5 | Salesforce | 140.39 Bn | 128.55 Bn | 8.56 Bn | 76.92% |
| 6 | Cadence Design Systems | 105.73 Bn | 104.32 Bn | 1.26 Bn | 85.65% |
| 7 | ServiceNow | 105.42 Bn | 100.24 Bn | 2.83 Bn | 75.07% |
| 8 | Automatic Data Processing | 89.57 Bn | 86.34 Bn | 2.87 Bn | 48.28% |
| 9 | Adobe | 85.05 Bn | 78.16 Bn | 5.90 Bn | 89.20% |
| 10 | Blend Labs | 458.86 Mn | 399.85 Mn | 23.37 Mn | 75.75% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 75.75% |
| Dec 31, 2025 | 75.68% |
| Sep 30, 2025 | 74.26% |
| Jun 30, 2025 | 73.84% |
| Mar 31, 2025 | 70.78% |
| Dec 31, 2024 | 74.16% |
| Sep 30, 2024 | 74.01% |
| Jun 30, 2024 | 70.88% |
| Mar 31, 2024 | 67.29% |
| Dec 31, 2023 | -134.46% |
| Sep 30, 2023 | 54.35% |
| Jun 30, 2023 | 54.87% |
| Mar 31, 2023 | 42.46% |
| Dec 31, 2022 | 33.67% |
| Sep 30, 2022 | 38.14% |
| Jun 30, 2022 | 38.55% |
| Mar 31, 2022 | 40.36% |
| Dec 31, 2021 | 43.15% |
| Sep 30, 2021 | 45.02% |
| Jun 30, 2021 | 61.45% |