NYSE$BLND
Blend Labs Inc. · Q4 2024 earnings
Q4 2024 earnings · · After market close · Investor relations
Briefing
Blend Labs, Inc. announced its fourth quarter and full year 2024 financial results, welcoming major new customers and achieving strong revenue despite a difficult macro environment.
Blend Labs, Inc. reported a strong fourth quarter in 2024, with total revenue increasing 15% year-over-year to $41.4 million. The company achieved non-GAAP income from operations of $5.2 million, significantly surpassing guidance, and saw a 48% annual revenue growth in its Consumer Banking business.
- Total revenue for Q4 2024 was $41.4 million, a 15% increase year-over-year.
- Non-GAAP income from operations reached $5.2 million, exceeding guidance.
- Consumer Banking Suite revenue grew by 48% year-over-year to $9.5 million.
- GAAP diluted net loss per share was $0.03, an improvement from $0.13 in Q4 2023.
Headline financials
Revenue & EPS history
Blend · Revenue · Quarterly
$41.4M
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
For Q1 2025, Blend expects Blend Platform Segment Revenue to be between $25.0 million and $27.0 million, and Non-GAAP Net Operating Income to be between -$1.0 million and $1.0 million. For the full year 2025, Consumer Banking Suite Revenue 2023 to 2026 CAGR is expected to increase from 35% to 40%.
Tailwinds
- Expected continued growth in Consumer Banking Suite revenue, with CAGR increasing from 35% to 40% for 2023-2026.
- Focus on core mission of delivering frictionless origination software.
- Expansion of high-margin partnerships in homeowners insurance and income verification.
- Finalizing similar approach in title insurance.
- Strategic partnerships and platform expansion are expected to positively impact market size.
Headwinds
- U.S. aggregate industry mortgage originations are expected to be lower in 1Q25 relative to 4Q24.
- Mortgage market size is projected to be between 800,000 and 900,000 units for 1Q25.
- Economic conditions, including real estate and mortgage activity levels, remain highly uncertain.
- Financial condition of some financial customers remains highly uncertain.
- Uncertainty and potential variability of stock-based compensation and internal use software development costs may impact GAAP reconciliation.
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 Q4 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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