Blend Labs Inc. reported third quarter 2025 revenue of $32.9 million, a decrease of 1.0% compared to the third quarter of 2024. Software platform revenue was $30.5 million, down 2.0% year-over-year, while professional services revenue rose 18.0% to $2.4 million. GAAP gross profit margin was 74%, unchanged from the prior year, and non-GAAP gross profit margin increased to 78% from 75%. The company reported a GAAP operating loss of $4.9 million, an improvement from a loss of $11.3 million in the third quarter of 2024. Non-GAAP operating income was $4.6 million, up from $0.3 million a year earlier. GAAP diluted net income per share attributable to common stockholders was $0.02, compared to a loss of $0.02 in the prior year, while non-GAAP diluted net income per share was $0.00, compared to a loss of $0.01. Blend signed 14 new or expanded customer relationships during the quarter, including a seven-figure expansion with a top 20 bank and a major renewal and expansion with a consumer banking customer across six product lines. For the fourth quarter of 2025, Blend expects total revenue between $31.0 million and $32.5 million and non-GAAP net operating income between $2.5 million and $3.5 million.