secwatch.observer — SEC 8-K summary
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Issuer:     Blend Labs, Inc. (BLND)
CIK:        0001855747
Form:       8-K
Filed at:   2022-11-10T23:59:59+00:00
Accession:  0001855747-22-000067
Event type: earnings
Sentiment:  negative
Materiality: 0.85
Item codes: 2.02, 2.05, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Blend Labs reports Q3 2022 revenue $55.4M, GAAP loss $129.9M; third layoff of 2022 cuts 100 jobs (6.4% workforce)
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- Q3 revenue $55.4M; Blend Platform $36.1M (+3% YoY), Title365 $19.3M (-65% YoY).
- GAAP loss from operations $129.9M including $57.9M non-cash impairment of Title365 intangible assets/goodwill.
- Third workforce reduction in 2022 eliminates ~100 positions (~6.4% of workforce); estimated $2.8M charges.
- Non-GAAP loss from operations $37.1M vs $21.1M in prior year.
- FY 2022 revenue guidance narrowed to $235-240M, reflecting 56% decline in mortgage volume.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1855747/000185574722000067/0001855747-22-000067-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1855747/000185574722000067/blnd-20221109.htm
  HTML page:      https://secwatch.observer/filing/0001855747-22-000067

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