secwatch.observer — SEC 8-K summary
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Issuer:     Blend Labs, Inc. (BLND)
CIK:        0001855747
Form:       8-K
Filed at:   2023-08-09T23:59:59+00:00
Accession:  0001855747-23-000052
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 2.05, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1855747/000185574723000052/0001855747-23-000052-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1855747/000185574723000052/blnd-20230809.htm
  HTML page:      https://secwatch.observer/filing/0001855747-23-000052

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