8-K
filed May 8, 2024, 7:59 PM ET
ticker BLND
CIK 0001855747
earnings
confidence high
sentiment positive
materiality 0.85
Blend Q1 revenue $34.9M; beats operating loss target; repays debt with $150M Haveli investment
Blend Labs, Inc.
2024-Q1 EPS reported
-$0.09
revenue$34,947,000
- GAAP net loss $0.09/share vs $0.28 YoY; non-GAAP loss $0.06/share vs $0.15.
- Consumer Banking Suite revenue up 29% YoY to $6.7M; Mortgage Suite down 15% to $15.1M.
- Free cash flow improved to $(5.8)M from $(47.0)M YoY; unlevered FCF $(1.3)M.
- Repaid $140M term loan in April using proceeds from $150M Haveli convertible preferred equity investment.
- Q2 2024 guidance: consolidated revenue $37.5-$41.5M; non-GAAP net operating loss $(10.5)-$(7.5)M.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 1.0
Blend Labs, Inc. reported first fiscal quarter ended March 31, 2024 results: revenue $34.9 million, net income $0.09, EPS $0.09.
- Period
- first fiscal quarter ended March 31, 2024
- Revenue
- $34.9 million
- Net income
- $0.09
- EPS
- $0.09
- Result
- reported results
Exact text from the filing
Total company revenue in 1Q24 was $34.9 million
View on SEC.gov
Earnings Releases
SEC 8-K Item 2.02
confidence 0.9
Blend Labs, Inc. updated its second quarter of 2024 guidance (reaffirmed).
- Period
- second quarter of 2024
- Guidance
- reaffirmed
- Result
- guidance update
Exact text from the filing
Blend is providing guidance for the second quarter of 2024 as follows: $ in millions Q2 2024 Guidance Blend Platform Segment Revenue $27.0 – $30.0 Title Revenue $10.5 – $11.5 Blend Labs, Inc. Consolidated Revenue $37.5 – $41.5 Non-GAAP Net Operating Loss ($10.5) – ($7.5)
View on SEC.gov
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