---
schema_version: "secwatch.filing_event.v1"
accession: "0001855747-23-000052"
form_type: "8-K"
ticker: "BLND"
cik: "0001855747"
company_name: "Blend Labs, Inc."
filed_at: "2023-08-09T23:59:59+00:00"
generated_at: "2026-06-11T23:27:18.752859+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Blend Labs Q2 revenue $42.8M beats guidance; cuts 150 jobs (~19% of workforce)

## Summary
- GAAP net loss per share $0.18 vs $2.06 YoY; non-GAAP net loss per share $0.09 vs $0.19.
- Platform revenue $30.3M; Mortgage Suite revenue $22.3M (-17% YoY) vs market decline of 37%.
- Consumer Banking Suite revenue $5.8M (+27% YoY); software gross margin 81% (non-GAAP).
- Workforce reduction of ~150 positions (19% of onshore staff) with ~$7.2M charges; annualized savings ~$33M.
- Q3 2023 guidance: consolidated revenue $38-42M; non-GAAP net operating loss $15.5-17.5M.

## SEC filing metadata
- accession: 0001855747-23-000052
- form_type: 8-K
- ticker: BLND
- cik: 0001855747
- company_name: Blend Labs, Inc.
- filed_at: 2023-08-09T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 2.05, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1855747/000185574723000052/0001855747-23-000052-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1855747/000185574723000052/blnd-20230809.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001855747-23-000052
- JSON: https://secwatch.observer/filing/0001855747-23-000052.json
- Plain text: https://secwatch.observer/filing/0001855747-23-000052.txt

## Key facts
- Earnings Releases
  Blend Labs, Inc. reported second quarter ended June 30, 2023 results: revenue Total company revenue was $42.8 million, EPS GAAP net loss per share attributable to common stockholders was $0.18. Guidance reaffirmed.
  - Period: second quarter ended June 30, 2023
  - Revenue: Total company revenue was $42.8 million
  - EPS: GAAP net loss per share attributable to common stockholders was $0.18
  - Guidance: reaffirmed
  - Result: reported results
  source text: our customers. Therefore, we believe we are in a strong position to deliver on our long-term goals.” Second Quarter 2023 Financial Highlights Revenue • Total company revenue was $42.8 million, composed of Platform revenue of $30.3 million and Title revenue of $12.5 million. • Within the Platform segment, Mortgage Banking Suite revenue declined by 17% year-over-year,
  evidence_url: https://www.sec.gov/Archives/edgar/data/1855747/000185574723000052/0001855747-23-000052-index.htm
- Earnings Releases
  Blend Labs, Inc. reported third quarter of 2023 results: revenue $38.0 - 42.0. Guidance initiated.
  - Period: third quarter of 2023
  - Revenue: $38.0 - 42.0
  - Guidance: initiated
  - Result: guidance update
  source text: Blend is providing guidance for the third quarter of 2023 as follows: $ in millions Q3 2023 Guidance Blend Platform Revenue $27.0 - 30.0 Title Revenue $11.0 - 12.0 Blend Labs, Inc. Consolidated Revenue $38.0 - 42.0 Non-GAAP Net Operating Loss $17.5 - 15.5
  evidence_url: https://www.sec.gov/Archives/edgar/data/1855747/000185574723000052/0001855747-23-000052-index.htm
- Executive change
  Oxana Tkach was appointed as Controller and principal accounting officer at Blend Labs, Inc..
  - Action: appointed
  - Role: Controller and principal accounting officer
  source text: On August 9, 2023, the Board of Directors of Blend approved the appointment of Oxana Tkach as the Company’s Controller and principal accounting officer.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1855747/000185574723000052/0001855747-23-000052-index.htm
- Restructurings & Charges
  Blend Labs, Inc. announced a restructuring with charges of approximately $7.2 million affecting title operations, corporate operations in research and development, sales and marketing, and general and administrative functions (approximately 150 current positions, or approximately 19% of the Company’s current onshore workforce).
  - Type: restructuring
  - Charge: approximately $7.2 million
  - Affected area: title operations, corporate operations in research and development, sales and marketing, and general and administrative functions
  - Headcount: approximately 150 current positions, or approximately 19% of the Company’s current onshore workforce
  source text: The August 2023 Plan further streamlines the Company’s title operations, as well as its corporate operations in research and development, sales and marketing, and general and administrative functions. The August 2023 Plan includes the elimination of approximately 150 current positions, or approximately 19% of the Company’s current onshore workforce, and approximately 20 vacancies across the Company. The Company estimates that it will incur approximately $7.2 million in charges in connection with the August 2023 Plan
  evidence_url: https://www.sec.gov/Archives/edgar/data/1855747/000185574723000052/0001855747-23-000052-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.