Blend Labs, Inc. provides cloud-based software platform solutions for financial services firms in the United States. It operates in two segments, Blend Platform and Title365. The company offers a suite of white-label products for mortgages, home equity loans and lines of credit, vehicle loans, personal loans, credit cards, and deposit accounts. It also provides a suite of mortgage products that facilitates homeownership journey for consumers comprising close, income verification for mortgage, homeowners insurance, and realty. In addition, the company offers title search procedures for title insurance policies, escrow, and other closing and settlement services, as well as other trustee services; and professional and consulting services. It serves banks, credit unions, financial technology companies, and non-bank mortgage lenders. Blend Labs, Inc. was incorporated in 2012 and is headquartered in San Francisco, California.

Blend Labs, Inc.

Financial providers — from large banks, fintechs, and credit unions to community and independent mortgage banks — use our platform to transform consumer banking experiences and streamline workflows for their teams. From the moment a consumer starts an application for a deposit account or loan to the moment they digitally sign the final documents, our composable platform streamlines the process. Visit blend.com to learn more.

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Canapi Ventures

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Emergence

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Tiger Global Management

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Ballistic Ventures

Blend

Faster relationship onboarding, happier customers, boosted revenue: This is the Shopping Cart effect. ️

Watch this 1-minute demo 🎬 to see how we're simplifying banking, together. https://ow.ly/xjBb50QyWTf

Calling all retail #banking leaders! We're thrilled to be back at Consumer Bankers Association CBA Live, the industry's premier event, taking place March 25-27 in National Harbor, MD.

For 15 years, #CBALive has connected top minds and sparked innovation. This year is no different! Join us at booth #218 for the opportunity to:
1️⃣ Meet our executive team & discuss your unique challenges
2️⃣ Discover our latest solutions designed to help you thrive in today's market
3️⃣ Engage in thought-provoking conversations with industry experts

Don't miss this chance to connect with the people and ideas shaping the future of the industry. See you at booth #218! https://www.cbalive.info/

Blend customers reported $913.52 in average cost savings 💲 per loan—a $274 increase over 2022 levels—driven by product #automation and streamlined application flows. 

Amidst ongoing compression in #financial industry margins, these savings are driving real benefits to Blend customers.

Learn more about how Blend’s Mortgage Suite technology drives tangible #ROI here: https://ow.ly/l4tT50QxkwS

Now available! Our latest shopping cart feature 🛒 , which helps consumers and bankers originate multiple #deposit products in the time it takes to open a single account.

Learn how to boost customer satisfaction and your bottom line: https://ow.ly/yorl50QxkmS

	Dec '19	Dec '20	Dec '21	Dec '22	Dec '23
revenue	50.67M -	96.03M 89.51%	234.50M 144.19%	235.20M 0.30%	156.85M 33.31%
cost of revenue	19.55M -	34.29M 75.42%	118.51M 245.61%	145.55M 22.82%	75.71M 47.98%
gross profit	31.12M -	61.74M 98.37%	115.99M 87.87%	89.65M 22.71%	81.14M 9.50%
selling and marketing expenses	37.66M -	51.42M 36.54%	84.08M 63.51%	85.25M 1.39%	60.13M 29.46%
general and administrative expenses	26.59M -	30.11M 13.23%	128.80M 327.80%	139.12M 8.01%	70.69M 49.19%
selling general and administrative expenses	64.25M -	81.53M 26.89%	212.88M 161.11%	224.37M 5.40%	130.82M 41.69%
research and development expenses	48.60M -	55.50M 14.21%	92.22M 66.15%	138.09M 49.75%	81.59M 40.92%
other expenses	283K -	700K 147.35%	8.14M 1,062.29%	8.41M 3.38%	7.25M 13.83%
cost and expenses	132.39M -	171.32M 29.40%	431.74M 152.01%	516.42M 19.62%	288.12M 44.21%
operating expenses	112.85M -	137.03M 21.43%	313.23M 128.58%	370.87M 18.40%	212.41M 42.73%
interest expense			11.28M -	24.79M 119.79%	30.81M 24.29%
ebitda	-76.67M -	-71.30M 7.01%	-182.94M 156.58%	-261.89M 43.16%	-125.51M 52.07%
operating income	-81.72M -	-75.29M 7.87%	-197.24M 161.97%	-281.22M 42.58%	-131.27M 53.32%
depreciation and amortization	5.05M -	3.99M 20.88%	14.31M 258.30%	19.33M 35.12%	5.76M 70.20%
total other income expenses net	283K -	700K 147.35%	-10.79M 1,640.86%	-484.83M 4,394.98%	-48.51M 89.99%
income before tax	-81.44M -	-74.59M 8.41%	-208.03M 178.89%	-766.05M 268.24%	-179.78M 76.53%
income tax expense	13K -	26K 100%	-38.89M 149,661.54%	-2.24M 94.24%	94K 104.19%
net income	-81.45M -	-74.62M 8.39%	-169.14M 126.68%	-763.81M 351.58%	-185.32M 75.74%
weighted average shs out	219.59M -	219.59M 0%	131.99M 39.90%	234.16M 77.41%	245.21M 4.72%
weighted average shs out dil	219.59M -	219.59M 0%	131.99M 39.90%	234.16M 77.41%	245.21M 4.72%
eps	-0.37 -	-0.34 8.11%	-1.28 276.47%	-3.26 154.69%	-0.76 76.69%
epsdiluted	-0.37 -	-0.34 8.11%	-1.28 276.47%	-3.26 154.69%	-0.76 76.69%

COM:BLEND

Blend

Last Close

5.07

21/11 20:19

Market Cap

565.94M

Beta: -

Volume Today

4.68M

Avg: -

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