In tandem with its Q2 2025 earnings release, Blend Labs, Inc. announced that Jason Ream will join as the company’s Head of Finance and Administration.
Ream, who has over 25 years of experience as a financial and operating leader in technology and software, previously served as the CFO of two public companies, SailPoint Technologies Holdings, Inc. and SolarWinds Corporation, as well as two private companies, Mitratech Holdings Inc. and Relativity ODA LLC.
Before joining Blend, Ream was a Senior Managing Director at Haveli Investments.
“I’m honored to join Blend at such a pivotal moment in its growth and profitability journey,” shared Jason Ream. “I’ve long admired Blend’s impact on the banking and lending ecosystem, and I’m committed to helping drive sustainable growth, operational discipline, and long-term value for our customers and stakeholders.”
Nima Ghamsari, co-founder and head of Blend, shared that Ream will be instrumental as the company evolves into “a durable, long-term platform partner for the industry.”
Ream is replacing Amir Jafari, who served as head of finance and administration and will stay on for a transition period to ensure continuity.
“I want to thank Amir for his contributions,” Ghamsari said in a release. “He took on the hard work of navigating the company through a challenging period and has set us on the path towards a brighter future. We wish him great success in his future endeavors.”
Earnings stats
Blend reported second-quarter 2025 revenue of $31.5 million, up 10% from a year earlier. Software platform revenue rose 11% year over year, driven by a 43% jump in its Consumer Banking Suite, while mortgage suite revenue dipped 3% to $18.0 million.
Q2’s revenue was an improvement from Q1 2025’s performance of $26.8 million, as the company continues to execute a software-first business model.
The San Francisco-based digital banking software provider posted a GAAP loss from operations of $4.6 million, narrowing from $13.1 million last year, and recorded a non-GAAP operating profit for the fourth straight quarter.
Blend signed 23 new or expanded deals in the quarter, more than double from Q1, including three independent mortgage banks. Of the new and expanded deals, 18 included consumer banking or home equity products.
Blend ended June with a record $190.4 million in remaining performance obligations, boosted by a $50 million renewal signed early in the quarter.
Building on last quarter’s announcement to exit the title business and sell its title platform Title365, which it had acquired in 2021 from Mr. Cooper for $422 million, Blend’s Q2 2025 earnings release confirmed the sale of Title365 to Covius.
Moving into the third quarter, Blend expects U.S. mortgage originations to be slightly higher than in Q2 2025, projecting a market size of 1.16 million to 1.26 million units based on customer application volume and macroeconomic data.
The company anticipates a seasonal slowdown in the fourth quarter, with volume between 1.13 million and 1.23 million units, and expects total revenue between $31.5 million and $33.5 million.
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