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Blend Labs: Q1 Earnings Snapshot

May 12, 2022 GMT

SAN FRANCISCO (AP) _ Blend Labs Inc. (BLND) on Thursday reported a loss of $73.5 million in its first quarter.

On a per-share basis, the San Francisco-based company said it had a loss of 32 cents. Losses, adjusted for one-time gains and costs, were 19 cents per share.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 17 cents per share.

The cloud-based platform for financial companies posted revenue of $71.5 million in the period, surpassing Street forecasts. Four analysts surveyed by Zacks expected $64.4 million.

Blend Labs expects full-year revenue in the range of $230 million to $250 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BLND at https://www.zacks.com/ap/BLND