Blend Labs, Q3 2026 Earnings Call Transcript

Blend’s third-quarter sales were its strongest in more than three years, with 26 new deals and expansions, while revenue reached $32.9 million and non-GAAP operating income exceeded guidance. Mortgage demand weakened sharply as rates rose, and management expects industry volume to remain under pressure into 2027. The company is counting on Autopilot adoption and deployment of its Rapid products to lift revenue per funded loan and support growth despite a soft market. Autopilot was contracted by 10 customers, with a pipeline that could add $5 million in 2027 revenue from deals targeted for closure in Q4; large lenders’ governance and procurement processes may delay conversions. Management forecasts 2027 industry volume down high single digits to low double digits, but expects trailing-12-month revenue per funded loan to rise from Q4 and anticipates mid-single-digit growth for that measure in 2027.