Blend Labs(US:BLND)2025-05-08 20:47Financial Performance - Blend Labs achieved $1 million in non-GAAP net operating income, marking the third consecutive quarter of profitability[6] - Revenue reached $26.8 million, exceeding the midpoint of guidance[6] - The company delivered $15.5 million of free cash flow, resulting in a 58% free cash flow margin[6] Revenue Breakdown - Consumer Banking Suite revenue increased to $9.6 million in Q1 2025[9] - Mortgage Suite revenue decreased to $14.6 million in Q1 2025[10] - Total Software Platform revenue increased by 12% year-over-year, reaching $24.26 million in Q1 2025[34] Efficiency and Cost Management - Non-GAAP operating expenses significantly reduced year over year, with FY 2025E projected between $85 million and $90 million[22, 25] - General & Administrative expenses decreased to $6.7 million in Q1 2025[23] - Research & Development expenses decreased to $5.6 million in Q1 2025[23] Mortgage Suite Economics - Mortgage Suite economic value per funded loan increased to $93 in Q1 2025[13] - Near-term economic value per funded loan is expected to generate contribution margin of 90%+[17]