Blend Labs (BLND) Operating Expenses (2020 - 2026)
Blend Labs (BLND) posted Operating Expenses of $26.5 million for Q2 2026, down 6.91% on a QoQ basis from $28.4 million in Q1 2026, and down 6.11% year-over-year from $28.2 million in Q2 2025.
Analysis
Blend Labs (BLND) Operating Expenses (2020 - 2026) Analysis & Trends
Blend Labs has reported Operating Expenses for 7 years, with the latest figure at $26.5 million in Q2 2026.
- On a quarterly basis, Operating Expenses fell 6.11% year-over-year to $26.5 million in Q2 2026; TTM through Jun 2026 was $112.7 million, a 3.31% decrease from a year earlier, with the FY2025 full-year figure at $112.9 million, down 14.51% from the prior year.
- Operating Expenses was $26.5 million for Q2 2026 at Blend Labs, down from $28.4 million in the prior quarter.
- The five-year high for Operating Expenses was $496.7 million in Q2 2022, with the low at $24.3 million in Q4 2023.
- Average Operating Expenses over 5 years is $75.3 million, with a median of $34.6 million recorded in 2024.
- The sharpest annual moves came in 2022 and 2023: Operating Expenses jumped 737.07% in 2022, then tumbled 87.88% in 2023.
- Over 5 years, Operating Expenses stood at $89.6 million in 2022, then slumped by 72.87% to $24.3 million in 2023, then climbed by 5.38% to $25.6 million in 2024, then grew by 10.04% to $28.2 million in 2025, then slipped by 6.11% to $26.5 million in 2026.
- The last three Operating Expenses figures came in at $26.5 million (Q2 2026), $28.4 million (Q1 2026), and $28.2 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Upstart Holdings | 2.73 Bn | 2.28 Bn | 303.39 Mn | 350.07 Mn |
| 2 | Pagaya Technologies | 1.92 Bn | 1.72 Bn | 168.33 Mn | 281.24 Mn |
| 3 | Qfin Holdings | 1.10 Bn | 108.74 Mn | - | 354.54 Mn |
| 4 | FinVolution | 856.70 Mn | -70.30 Mn | - | -423.57 Mn |
| 5 | X Financial | 432.29 Mn | -136.02 Mn | 84.09 Mn | 117.70 Mn |
| 6 | Open Lending | 371.20 Mn | 186.25 Mn | 15.64 Mn | 16.27 Mn |
| 7 | Blend Labs | 361.86 Mn | 317.00 Mn | 24.89 Mn | 26.46 Mn |
| 8 | LexinFintech Holdings | 294.80 Mn | 294.80 Mn | 73.06 Mn | -88.58 Mn |
| 9 | Antalpha Platform Holding | 85.61 Mn | -804.10 Mn | 11.94 Mn | 37.28 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 26.46 Mn |
| Mar 31, 2026 | 28.43 Mn |
| Dec 31, 2025 | 28.18 Mn |
| Sep 30, 2025 | 29.63 Mn |
| Jun 30, 2025 | 28.18 Mn |
| Mar 31, 2025 | 26.98 Mn |
| Dec 31, 2024 | 25.61 Mn |
| Sep 30, 2024 | 35.78 Mn |
| Jun 30, 2024 | 33.41 Mn |
| Mar 31, 2024 | 37.26 Mn |
| Dec 31, 2023 | 24.30 Mn |
| Sep 30, 2023 | 58.26 Mn |
| Jun 30, 2023 | 60.21 Mn |
| Mar 31, 2023 | 77.29 Mn |
| Dec 31, 2022 | 89.56 Mn |
| Sep 30, 2022 | 150.97 Mn |
| Jun 30, 2022 | 496.68 Mn |
| Mar 31, 2022 | 98.62 Mn |
| Dec 31, 2021 | 94.81 Mn |
| Sep 30, 2021 | 110.86 Mn |