BLNDBlend Labs, Inc.
Services-Computer Programming, Data Processing, Etc.
- Revenue
- $124M
- 6.8% YoY
- Operating margin
- -17.6%
- 58% YoY
- EBITDA
- −$18M
- 61% YoY
- Market cap
- —
- Employees
- —
- Net debt / EBITDA
- —
- −$23M net debt
- AI in 10-K
- —
Red flags 2 of 9
- TSR below peersClear—3+ of last 5 years
- High CEO pay despite TSRClear—Median CEO pay ≥ $15M and TSR flag
- Active 13DClear0 filingsActive-intent 13D in 18 months
- Net insider sellingClear$0 netNet sales over $10M in 12 months
- Earnings not backed by cashClear—Cash flow under 80% of net income
- Dilutive SBCFired23% of revenueOver 10% of revenue
- Payouts exceed cash flowFired216% of cash flowBuybacks + dividends over cash flow
- Goodwill-heavyClear0% of assetsOver 40% of assets
- Shareholder dissentClear—Any vote under 80% support
Financials
| Metric | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | YoY |
|---|---|---|---|---|---|---|
| Revenue | $234M | $235M | $110M | $116M | $124M | 6.8% |
| Operating income | −$197M | −$746M | −$144M | −$49M | −$22M | 56% |
| Net income | −$170M | −$720M | −$179M | −$43M | −$7M | 84% |
| Operating cash flow | −$128M | −$190M | −$128M | −$13M | $12M | 188% |
| Capex | $2M | $2M | $35K | $10M | $12M | 19% |
| Stock-based comp | $71M | $110M | $46M | $28M | $29M | 3.6% |
| Buybacks | — | — | $0 | $0 | $25M |
Deal filings
None.
13D filers
None on file.
Insider trading
No open-market trades in the last 12 months.
Pay vs performance
No pay-versus-performance disclosure yet.