---
schema_version: "secwatch.filing_event.v1"
accession: "0001855747-24-000049"
form_type: "8-K"
ticker: "BLND"
cik: "0001855747"
company_name: "Blend Labs, Inc."
filed_at: "2024-05-08T23:59:59+00:00"
generated_at: "2026-06-02T13:17:00.276538+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Blend Q1 revenue $34.9M; beats operating loss target; repays debt with $150M Haveli investment

## Summary
- 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.

## SEC filing metadata
- accession: 0001855747-24-000049
- form_type: 8-K
- ticker: BLND
- cik: 0001855747
- company_name: Blend Labs, Inc.
- filed_at: 2024-05-08T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1855747/000185574724000049/0001855747-24-000049-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1855747/000185574724000049/blnd-20240508.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001855747-24-000049
- JSON: https://secwatch.observer/filing/0001855747-24-000049.json
- Plain text: https://secwatch.observer/filing/0001855747-24-000049.txt

## Key facts
- Earnings Releases
  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
  source text: Total company revenue in 1Q24 was $34.9 million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1855747/000185574724000049/0001855747-24-000049-index.htm
- Earnings Releases
  Blend Labs, Inc. updated its second quarter of 2024 guidance (reaffirmed).
  - Period: second quarter of 2024
  - Guidance: reaffirmed
  - Result: guidance update
  source text: 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)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1855747/000185574724000049/0001855747-24-000049-index.htm

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