secwatch.observer — SEC 8-K summary
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Issuer:     Blend Labs, Inc. (BLND)
CIK:        0001855747
Form:       8-K
Filed at:   2023-05-09T23:59:59+00:00
Accession:  0001855747-23-000039
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Blend Labs Q1 revenue $37.3M beats guidance; GAAP EPS -$0.28; principal accounting officer changes
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- Q1 revenue $37.3M (Platform $24.7M, Title $12.6M) vs. guidance $33-35M; GAAP operating loss $61.4M, non-GAAP $30.7M.
- GAAP net loss per share ($0.28) improved from ($0.32) in Q1 2022; non-GAAP EPS ($0.15) vs ($0.20).
- Mortgage market share rose to 23.2% in H2 2022 from 14.5% in H2 2021; Navy Federal selected Blend for deposit accounts.
- Principal accounting officer Manish Gupta stepped down, effective immediately; replaced by Amir Jafari (Head of Finance).
- Q2 2023 guidance: consolidated revenue $39.5-41.0M, non-GAAP net operating loss $25-26.5M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1855747/000185574723000039/0001855747-23-000039-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1855747/000185574723000039/blnd-20230504.htm
  HTML page:      https://secwatch.observer/filing/0001855747-23-000039

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