Blend Labs, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 10, 2023 at 01:35 am IST
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Blend Labs, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 12.48 million compared to USD 31.94 million a year ago. Revenue was USD 42.82 million compared to USD 65.54 million a year ago. Net loss was USD 41.23 million compared to USD 441.37 million a year ago. Basic loss per share from continuing operations was USD 0.18 compared to USD 2.06 a year ago.
For the six months, sales was USD 25.12 million compared to USD 70.89 million a year ago. Revenue was USD 80.15 million compared to USD 137.06 million a year ago. Net loss was USD 106.65 million compared to USD 513.48 million a year ago. Basic loss per share from continuing operations was USD 0.45 compared to USD 2.38 a year ago.
Blend Labs, Inc. provides a cloud-based software platform and a suite of products for financial providers to transform consumer banking experiences and streamline workflows for their teams. The Company operates through two segments: Blend Platform, and Title. The Blend Platform segment comprises a suite of products that power the entire origination process from back-end workflows to consumer experience. The Blend Platform segment also includes a software platform, called Blend Builder Platform, which offers a set of low-code, drag-and-drop design tools, modular components, and integrations to allow its customers to create and deploy their own new product offerings. The Title segment comprises a suite of title products and services, such as instant title and other title search options, insurance solutions, closing and settlement services, including mobile signing and e-sign capabilities, and various post-closing solutions, such as disbursement and recording handling.
BLEND LABS, INC. 
