Blend Labs, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 07, 2023 at 04:16 pm EST
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Blend Labs, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 11.95 million compared to USD 25.38 million a year ago. Revenue was USD 40.59 million compared to USD 55.35 million a year ago. Net loss was USD 41.76 million compared to USD 126.13 million a year ago.
For the nine months, sales was USD 37.07 million compared to USD 96.27 million a year ago. Revenue was USD 120.74 million compared to USD 192.42 million a year ago. Net loss was USD 148.41 million compared to USD 639.6 million 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. 
