Blend Labs Q4 revenue $36.1M; operating loss narrows to $21.9M; guides Q1 revenue $32.5-35.5M

Blend Labs, Inc.

Q4 revenue $36.1M (Platform $25.9M, Title $10.2M); Consumer Banking Suite +15% YoY to $6.4M.
GAAP loss from ops $21.9M vs $75.2M YoY; Non-GAAP loss $13.1M vs $43.1M; net loss per share $0.13.
Full year 2023 revenue $156.8M; GAAP loss from ops $156.2M vs $746.2M; cash and securities $144.2M.
Q1 2024 guidance: consolidated revenue $32.5-35.5M; non-GAAP net operating loss ($14.0)-($12.0)M.
Signed multi-year consumer banking deal with Citizens Bank; mortgage suite economic value per funded loan $91.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Blend Labs, Inc. reported financial results for the fourth fiscal quarter and the full fiscal year ended December 31, 2023.

Period: the fourth fiscal quarter and the full fiscal year ended December 31, 2023
Result: reported results

Exact text from the filing

On March 14, 2024 , 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, 2023.

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Source: SEC EDGAR

accession 0001855747-24-000014

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