Operator

Hello, everyone. Thank you for joining us, and welcome to Blend Labs First Quarter 2026 Earnings Call. [Operator Instructions]

I would now like to hand the conference over to management for prepared remarks. Please go ahead.

Meg Nunnally
Head of Investor Relations

Good afternoon, and welcome to Blend's financial results conference call for the first quarter of 2026. I'm Meg Nunnally, Blend's Head of Investor Relations. Joining me today is Nima Ghamsari, our Co-Founder and Head of Blend; and Jason Ream, our Head of Finance and Administration.

Before we start today's call, I'd like to note that we refer to certain non-GAAP measures, which are reconciled to GAAP measures in today's earnings release and in the appendix of our supplemental slides.

Non-GAAP measures are not intended to be a substitute for GAAP results. Unless otherwise stated, all financial measures we'll discuss today, including our profitability, refer to non-GAAP.

Also, certain statements made during today's conference call regarding Blend and its operations, in particular, our guidance for the second quarter of 2026, other commentary regarding 2026 and our expectations about markets, our strategic investments, product development plans and operational targets may be considered forward-looking statements under federal securities laws.

We caution you that forward-looking statements involve substantial risks and uncertainties and a number of factors, many of which are beyond the company's