Blend Labs(US:BLND)2025-11-06 21:30Financial Performance - Total revenue and non-GAAP operating income for Q3 2025 exceeded guidance[6] - Consumer Banking Suite revenue increased by 34% year-over-year[7] - Non-GAAP operating expenses reflect cost discipline[17] - Q4 2025 total revenue is expected to be between $31 million and $32.5 million, representing a year-over-year increase of 5% at the midpoint[26] - Non-GAAP net income from continuing operations was $5560 thousand for Q3 2025, compared to a loss of $631 thousand in GAAP[35] Revenue Breakdown - Consumer Banking Suite revenue was $12724 thousand in Q3 2025, a 34% increase year-over-year[29] - Mortgage Suite revenue was $17735 thousand in Q3 2025, an 18% decrease year-over-year[29] - Total Software Platform revenue was $30459 thousand in Q3 2025, a 2% decrease year-over-year[29] Market Position - Blend's funded loans as a percentage of HMDA mortgage originations is estimated to be 16-18% in 2025[23] - The company's market share has decreased since 2023 due to churn notices received primarily in 2023 and 2024[24] - Added or expanded 14 customer relationships this quarter, with pipeline up approximately 60% year-over-year[6]