Blend Labs Q1 2023 Earnings Report

Blend Labs EPS Results

• Actual EPS: -$0.23
• Consensus EPS: -$0.25
• Beat/Miss: Beat by +$0.02
• One Year Ago EPS: N/A

Blend Labs Revenue Results

• Actual Revenue: $37.34 million
• Expected Revenue: $33.76 million
• Beat/Miss: Beat by +$3.58 million
• YoY Revenue Growth: N/A

Blend Labs Announcement Details

• Quarter: Q1 2023
• Date: 5/9/2023
• Time: N/A

Blend Labs (NYSE:BLND) engages in the provision of cloud-based software platform solutions for financial services firms in the United States. It operates in two segments, Blend Platform and Title365. The company's Blend Builder Platform offers a suite of products that powers digital-first consumer journeys for mortgages, home equity loans and lines of credit, vehicle loans, personal loans, credit cards, and deposit accounts; and offers mortgage products to facilitate the homeownership journey for consumers comprising close, income verification for mortgage, homeowners' insurance, and realty. It also offers verification components to automate confirmation tasks that are needed to underwrite a loan or approve the opening of a new deposit account; decisioning components to reduce the need for human intervention by automatically applying business rules throughout an application workflow configured by a financial services firm; workflow intelligence components to manage data collection and automate tasks throughout the loan origination process; and marketplace components to enable consumers to shop for products and services presented at the precise moment of need during an application for a loan. In addition, the company, through its subsidiary, offers title search procedures for title insurance policies, escrow, and other closing and settlement services, as well as other trustee services; and provides professional and consulting services. It serves banks, credit unions, fintechs, and non-bank mortgage lenders. The company was incorporated in 2012 and is headquartered in San Francisco, California.