Blend Labs (BLND) Operating Margin (2020 - 2026)
Blend Labs (BLND) recorded quarterly Operating Margin of 16.41% in Q1 2026, down 48.5% quarter-over-quarter from 11.05% in Q4 2025, and up 1332.0% on a YoY basis from 1.15% in Q1 2025.
Blend Labs (BLND) Operating Margin (2020 - 2026) Analysis & Trends
Blend Labs' Operating Margin history runs 7 years deep, the most recent figure standing at 16.41% for Q1 2026.
- In Q1 2026, Operating Margin rose 1332.0% year-over-year to 16.41%; the TTM figure through Mar 2026 stood at 14.75% (up 1523.0% YoY), while the FY2025 annual figure was 17.59%, up 2461.0% from the prior year.
- Operating Margin was 16.41% for Q1 2026 at Blend Labs, down from 11.05% in the prior quarter.
- In the past five years, Operating Margin ranged from a high of 82.67% in Q4 2023 to a low of 719.29% in Q2 2022.
- Historically, Operating Margin has averaged 103.07% across 5 years, with a median of 45.54% in 2024.
- The sharpest annual moves came in 2022 and 2023: Operating Margin tumbled 59567 bps in 2022, then surged 63352 bps in 2023.
- A 5-year view of Operating Margin shows it stood at 175.66% in 2022, then surged by 147 bps to 82.67% in 2023, then tumbled by 113 bps to 10.86% in 2024, then retreated by 2 bps to 11.05% in 2025, then sank by 48 bps to 16.41% in 2026.
- The last three Operating Margin figures came in at 16.41% (Q1 2026), 11.05% (Q4 2025), and 16.35% (Q3 2025), per Business Quant data.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 257.53 Bn | 239.56 Bn | 8.16 Bn | 28.69% |
| 2 | Full Truck Alliance | 171.61 Bn | 169.06 Bn | - | - |
| 3 | Salesforce | 152.15 Bn | 140.31 Bn | 8.56 Bn | 21.08% |
| 4 | Uber Technologies | 144.45 Bn | 143.41 Bn | 11.88 Bn | 14.56% |
| 5 | Shopify | 144.09 Bn | 138.34 Bn | 1.55 Bn | 12.05% |
| 6 | ServiceNow | 110.55 Bn | 105.37 Bn | 2.83 Bn | 13.34% |
| 7 | Cadence Design Systems | 106.32 Bn | 104.91 Bn | 1.26 Bn | 29.26% |
| 8 | Adobe | 97.77 Bn | 90.88 Bn | 5.73 Bn | 37.79% |
| 9 | Automatic Data Processing | 93.39 Bn | 90.16 Bn | 2.87 Bn | -22.99% |
| 10 | Blend Labs | 433.29 Mn | 374.29 Mn | 23.37 Mn | -16.41% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -16.41% |
| Dec 31, 2025 | -11.05% |
| Sep 30, 2025 | -16.35% |
| Jun 30, 2025 | -15.26% |
| Mar 31, 2025 | -29.73% |
| Dec 31, 2024 | -10.86% |
| Sep 30, 2024 | -34.08% |
| Jun 30, 2024 | -45.54% |
| Mar 31, 2024 | -89.01% |
| Dec 31, 2023 | 82.67% |
| Sep 30, 2023 | -89.18% |
| Jun 30, 2023 | -85.77% |
| Mar 31, 2023 | -164.55% |
| Dec 31, 2022 | -175.66% |
| Sep 30, 2022 | -234.60% |
| Jun 30, 2022 | -719.29% |
| Mar 31, 2022 | -97.52% |
| Dec 31, 2021 | -73.92% |
| Sep 30, 2021 | -78.75% |
| Jun 30, 2021 | -123.62% |