secwatch.observer — SEC 8-K summary
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Issuer:     Blend Labs, Inc. (BLND)
CIK:        0001855747
Form:       8-K
Filed at:   2022-05-12T23:59:59+00:00
Accession:  0001855747-22-000032
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Blend Q1 rev $71.5M (+124% YoY); GAAP op loss $69.7M; reaffirms FY22 guidance
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- Revenue $71.5M (+124% YoY) includes $38.7M from Title365; Blend Platform revenue $32.8M (+3% YoY).
- GAAP loss from operations $69.7M vs $27.2M in Q1 2021; non-GAAP op loss $39.5M.
- Consumer Banking & Marketplace revenue $7.2M (+55% YoY); Mortgage Banking $24.5M (-7% vs 44% industry decline).
- Reaffirmed FY22 consolidated revenue guidance $230-250M; expects US mortgage originations down ~41% (prior ~35%).
- Added 8 new customers (total 351); cash & securities $499.4M, debt $225.0M; revolver undrawn.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1855747/000185574722000032/0001855747-22-000032-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1855747/000185574722000032/blnd-20220512.htm
  HTML page:      https://secwatch.observer/filing/0001855747-22-000032

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer