Blend Labs at canaccord growth conference: ai underwriting gains traction

Blend Labs (BLND) highlighted its profitable and expanding business at Canaccord Genuity's 46th Annual Growth Conference despite a weak mortgage market. Chief Executive Nima Ghamsari introduced the AI underwriting product Autopilot which is gaining traction despite higher interest rates impacting refinancing demand. The company reported Q2 2025 results beating revenue and net operating income expectations.

Autopilot reduces cycle time by about three days and lifts conversion rates from 59% to 72% at a major client. Though the stock has dropped 28% in a week and over 52% year-to-date, management remains optimistic about Autopilot's potential to contribute 10-15% incremental revenue growth in 2027. Blend is also expanding into HELOCs, personal loans, and deposit accounts.

The company aims to become one of the top 1% agentic AI adopters with Blend 3.0 initiative, which has resulted in a 3x increase in engineering throughput year over year. Despite macro challenges due to high rates, Blend sees a shift in the industry toward AI-assisted underwriting to meet investor expectations.