Blend Labs Q1 platform revenue $26.8M, beats consensus; first positive free cash flow

Blend Labs, Inc.

2026-Q1 EPS reported -$0.06 vs consensus $0.01 ▼ miss (-781.8%)

Platform revenue $26.8M (+12% YoY) above guidance midpoint; Consumer Banking Suite revenue up 45% to $9.6M.
GAAP operating loss narrowed to $7.7M from $21.2M YoY; non-GAAP operating income $1.0M (4% margin).
First-ever positive free cash flow $15.5M; cash & securities $109.8M, no debt.
Record Q1 signings; total RPO $158.1M (+70% YoY).
Exclusive process initiated to sell Title365 title insurance business; aligns with software-first strategy.

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