NYSE$BLND
Blend Labs Inc. · Q1 2024 earnings
Q1 2024 earnings · · Investor relations
Briefing
Blend's Q1 2024 financial performance was reported, with revenue meeting guidance and operating loss outperforming targets.
Blend Labs, Inc. announced its Q1 2024 financial results, highlighting revenue of $34.9 million, composed of Blend Platform segment revenue of $23.8 million and Title segment revenue of $11.1 million. The company improved its cash burn, resulting in unlevered free cash flow for the quarter of $(1.3) million.
- Received a $150 million investment from Haveli Investments, marking the beginning of a new chapter for Blend and the establishment of a long-term partnership.
- Paid down the full balance of the term loan, eliminating interest and servicing costs.
- GAAP net operating loss significantly decreased compared to the same period last year.
- Made significant progress on important customer deployments, including going live with Michigan Schools and Government Credit Union.
Headline financials
Revenue & EPS history
Blend · Revenue · Quarterly
$34.9M
Revenue by segment
Blend · $28.6M total across 3 segments · Q3 2023
- Mortgage Suite$20.3M—70.9%
- Consumer Banking Suite$6.2M—21.6%
- Professional Services$2.14M+147.1%7.5%
Forward guidance
Blend is providing guidance for the second quarter of 2024 as follows: Blend Platform Segment Revenue $27.0 – $30.0, Title Revenue $10.5 – $11.5, Blend Labs, Inc. Consolidated Revenue $37.5 – $41.5, Non-GAAP Net Operating Loss ($10.5) – ($7.5)
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q1 2024
+1.6%
Avg return
Earnings day
+0.4%
Avg return
5 days after
-7.0%
Avg return
30 days after
50%
12 / 24 earnings
Positive
+40.1%
Q1 2023
Best reaction
-37.9%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +1.9% | -11.9% | +0.6% | |
| Q4 2025 | +11.8% | -9.8% | -12.9% | |
| Q3 2025 | -7.5% | -6.8% | -3.4% | |
| Q1 2025 | +7.3% | +9.7% | +13.7% | |
| Q4 2024 | -10.8% | -11.4% | +1.4% | |
| Q3 2024 | +16.8% | +25.0% | +40.8% | |
| Q2 2024 | +23.6% | +40.8% | +25.8% | |
| Q1 2024 | +15.4% | +16.2% | +10.4% | |
| Q4 2023 | +7.7% | +24.5% | -3.1% | |
| Q3 2023 | -3.5% | -14.8% | +12.7% | |
| Q2 2023 | +13.5% | +7.1% | -11.9% | |
| Q1 2023 | +40.1% | +36.8% | +46.3% | |
| Q4 2022 | -37.9% | -32.7% | -48.2% | |
| Q3 2022 | +11.8% | +16.6% | -33.7% | |
| Q2 2022 | +16.8% | +2.0% | +1.6% | |
| Q1 2022 | +27.3% | +18.0% | +2.8% | |
| Q4 2019 | -20.3% | -17.3% | -28.4% | |
| Q4 2021 | -20.3% | -17.3% | -28.4% | |
| Q3 2020 | -5.6% | -8.6% | -40.8% | |
| Q3 2021 | -16.7% | -16.5% | -47.2% | |
| Q4 2020 | -8.7% | -8.7% | -16.0% | |
| Q2 2020 | -8.7% | -8.7% | -16.0% | |
| Q1 2021 | -8.7% | -8.7% | -16.0% | |
| Q2 2021 | -7.4% | -13.1% | -17.4% | |
| Q1 2020 | — | — | — |
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