secwatch.observer — SEC 8-K summary
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Issuer:     Blend Labs, Inc. (BLND)
CIK:        0001855747
Form:       8-K
Filed at:   2024-08-08T23:59:59+00:00
Accession:  0001855747-24-000069
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Blend Q2 revenue $40.5M, beats operating loss target; Consumer Banking rev $8.0M (+37% YoY); approves $25M buyback
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- Total Q2 revenue $40.5M inline with guidance; Blend Platform $28.7M (Mortgage -17% to $18.5M, Consumer Banking +37% to $8.0M).
- GAAP operating loss narrowed to $13.3M from $36.7M; non-GAAP operating loss $5.6M from $17.9M.
- Cash and marketable securities $119.9M, no debt after term loan repaid; free cash flow $(8.5)M vs $(34.6)M.
- Board authorized first-ever $25M share repurchase program.
- Q3 2024 guidance: consolidated revenue $39.5-$43.5M; non-GAAP net operating loss $(7.0)-$(4.0)M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1855747/000185574724000069/0001855747-24-000069-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1855747/000185574724000069/blnd-20240807.htm
  HTML page:      https://secwatch.observer/filing/0001855747-24-000069

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