Blend Labs Q4 revenue $42.8M, FY2022 rev $235.2M; President resigns; guides Q1 rev $33-35M

Blend Labs, Inc.

Q4 GAAP loss from operations $75.2M; non-GAAP loss $43.1M; FY2022 GAAP loss $746.2M.
Blend Platform segment Q4 rev $29.5M (-19% YoY); Consumer Banking & Marketplace rev $13.2M (+109% YoY).
Title365 segment Q4 rev $13.3M (-70% YoY) reflecting decline in refinance volume.
President Tim Mayopoulos resigned March 13, 2023; will remain as director; unvested equity cancelled.
Q1 2023 guidance: consolidated rev $33-35M, non-GAAP net operating loss $37-39M; over 780 positions eliminated.

item 2.02 item 5.02 item 7.01 item 9.01

Executive movements

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Departed

Timothy Mayopoulos

President

BLND · Blend Labs, Inc.

Effective: 2023-03-13
Filed: March 16, 2023, 7:59 PM ET

On March 13, 2023, Mr. Mayopoulos resigned as President of the Company, effective immediately, to pursue other professional opportunities.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Blend Labs, Inc. reported the fourth fiscal quarter and the full fiscal year ended December 31, 2022 results: revenue Consolidated 2022 revenue of $235.2 million, 4Q22 revenue of $42.8 million. Guidance reaffirmed.

Period: the fourth fiscal quarter and the full fiscal year ended December 31, 2022
Revenue: Consolidated 2022 revenue of $235.2 million, 4Q22 revenue of $42.8 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Blend Labs, Inc. (the “Company” or “Blend”) issued a press release announcing its financial results for the fourth fiscal quarter and the full fiscal year ended December 31, 2022.

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Executive change SEC 8-K Item 5.02 confidence 1.0

Timothy Mayopoulos resigned as President at Blend Labs, Inc..

Action: resigned
Role: President

Exact text from the filing

On March 13, 2023, Mr. Mayopoulos resigned as President of the Company, effective immediately, to pursue other professional opportunities.

View on SEC.gov

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Blend Labs, Inc. filing history →

Source: SEC EDGAR

accession 0001855747-23-000015

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