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was incorporated in 2012 and is headquartered in San Francisco, California. It serves banks, credit unions, financial technology companies, and non-bank mortgage lenders.

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In addition, the company, through its subsidiary, offers title search procedures for title insurance policies, escrow, and other closing and settlement services, as well as other trustee services and provides professional and consulting services.

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It also offers verification components to automate confirmation tasks that are needed to underwrite a loan or approve the opening of a new deposit account decisioning components to reduce the need for human intervention by automatically applying business rules throughout an application workflow configured by a financial services firm workflow intelligence components to manage data collection and automate tasks throughout the loan origination process and marketplace components to enable consumers to shop for products and services presented at the precise moment of need during an application for a loan. The company’s Blend Builder Platform offers a suite of products that powers digital-first consumer journeys for mortgages, home equity loans and lines of credit, vehicle loans, personal loans, credit cards, and deposit accounts and offers mortgage products to facilitate the homeownership journey for consumers comprising close, income verification for mortgage, homeowners’ insurance, and realty. It operates in two segments, Blend Platform and Title365.

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engages in the provision of cloud-based software platform solutions for financial services firms in the United States. To read this article on click here.Blend Labs, Inc. Click to get this free reportīlend Labs, Inc.

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Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term. Shares of Blend Labs have returned +17.8% over the past month versus the Zacks S&P 500 composite's +2.4% change. View all Key Company Metrics for Blend Labs here> Gross Profit- Blend Platform: $22.14 million compared to the $16.72 million average estimate based on four analysts. Total Blend Platform Revenue: $30.33 million versus $27.37 million estimated by four analysts on average.īlend Platform Revenue- Mortgage Banking: $22.27 million compared to the $19.43 million average estimate based on two analysts.īlend Platform Revenue- Consumer Banking and Marketplace: $5.84 million versus the two-analyst average estimate of $6.54 million. Here is how Blend Labs performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts: While investors closely watch year-over-year changes in headline numbers - revenue and earnings - and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.Īs these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.

Blend, which builds software for mortgage applications and other banking functions, plans to eliminate 340 positions across the company, equivalent to around 28 of its domestic workforce. With the consensus EPS estimate being -$0.13, the EPS surprise was +30.77%. San Francisco-based Blend Labs is conducting its fourth round of layoffs since April, the mortgage technology company said in a regulatory filing. The reported revenue represents a surprise of +7.08% over the Zacks Consensus Estimate of $39.98 million. EPS of -$0.09 for the same period compares to -$0.19 a year ago. Blend Labs (BLND) reported $42.82 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 34.7%.