Group 1 - Blend Labs (BLND) has shown a year-to-date return of 31.8%, outperforming the Computer and Technology sector's average return of 13.4% [4] - The Zacks Consensus Estimate for BLND's full-year earnings has increased by 29.9% over the past 90 days, indicating improving analyst sentiment [4] - Blend Labs is ranked 2 (Buy) in the Zacks Rank system, which highlights stocks expected to outperform the market in the near term [3] Group 2 - Blend Labs is part of the Internet - Software industry, which includes 141 companies, and it currently ranks 95 in the Zacks Industry Rank [6] - The average return for stocks in the Internet - Software industry this year is 10.5%, indicating that BLND is performing better than its peers in this industry [6] - Another stock in the same sector, OneSpan (OSPN), has a year-to-date return of 39.7% and also holds a Zacks Rank of 2 (Buy) [5]

Group 1 - Blend Labs (BLND) is currently outperforming the Computer and Technology sector with a year-to-date return of 60.8%, compared to the sector's average return of 23.8% [4] - The Zacks Rank for Blend Labs is 2 (Buy), indicating a positive outlook based on earnings estimates and revisions, with a 29.9% increase in the consensus estimate for full-year earnings over the past three months [3] - Blend Labs is part of the Internet - Software industry, which has an average year-to-date return of 16.8%, further highlighting BLND's strong performance [6] Group 2 - OneSpan (OSPN), another stock in the Computer and Technology sector, has also shown strong performance with a year-to-date return of 48.8% and a Zacks Rank of 2 (Buy) [4][5] - The consensus EPS estimate for OneSpan has increased by 5.6% over the past three months, indicating positive analyst sentiment [5] - Both Blend Labs and OneSpan are expected to maintain their solid performance in the Computer and Technology sector [7]

Blend Labs, Inc (NYSE:BLND) Q2 2024 Results Conference Call August 8, 2024 4:30 PM ET Company Participants Winnie Ling - Head-Legal and People Nima Ghamsari - Co-Founder and Head-Blend Amir Jafari - Head-Finance and Administration Bryan Michaleski - Investor Relations Lead Conference Call Participants Dylan Becker - William Blair Joseph Vafi - Canaccord Genuity Ryan Tomasello - KBW David Unger - Wells Fargo Winnie Ling Good afternoon, and welcome to Blend's Second Quarter 2024 Earnings Conference Call. My ...

Market Performance - U.S. stocks showed mixed trading results, with the Nasdaq Composite gaining over 50 points, while the Dow decreased by 0.05% to 39,426.08 and the S&P 500 rose by 0.30% to 5,335.46 [1] - Information technology shares increased by 0.6%, while industrials shares fell by 0.3% [1] Notable Stock Movements - Doximity, Inc. shares surged 36% to $35.02 after reporting better-than-expected first-quarter financial results and issuing FY24 revenue guidance above estimates [2] - Iteris, Inc. shares rose 63% to $6.99 following the announcement of its acquisition by Almaviva for $335 million [2] - Blend Labs, Inc. shares increased by 19% to $3.2050 after reporting better-than-expected second-quarter financial results and receiving an upgrade from William Blair [2] Declining Stocks - AN2 Therapeutics, Inc. shares plummeted 60% to $1.0650 after announcing the discontinuation of its EBO-301 study due to disappointing Phase 2 results [3] - Vicinity Motor Corp. shares fell 64% to $0.1091 ahead of its upcoming financial results release [3] - Meta Materials Inc. shares dropped 44% to $1.16 after disclosing the cessation of operations and filing for Chapter 7 bankruptcy [3] Commodity Prices - Oil prices increased by 0.9% to $76.85, while gold rose by 0.2% to $2,467.20 [4] - Silver prices decreased by 0.3% to $27.515, and copper prices increased by 0.7% to $3.9865 [4] International Markets - European shares closed higher, with the eurozone's STOXX 600 rising by 0.57% and Germany's DAX increasing by 0.24% [4] - Asian markets had mixed results, with Japan's Nikkei 225 gaining 0.56% and Hong Kong's Hang Seng Index rising by 1.17%, while China's Shanghai Composite Index fell by 0.27% [5]

Blend Labs (BLND) came out with a quarterly loss of $0.02 per share versus the Zacks Consensus Estimate of a loss of $0.05. This compares to loss of $0.09 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 60%. A quarter ago, it was expected that this cloudbased platform for financial companies would post a loss of $0.08 per share when it actually produced a loss of $0.06, delivering a surprise of 25%. Over the last four quarter ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For transition period from to Commission File Number 001-40599 BLEND LABS, INC. (Exact name of registrant as specified in its charter) Delaware 45-5211045 (State or other jurisdiction of inc ...

Blend Announces Second Quarter 2024 Financial Results Meets Revenue Guidance and Outperforms Operating Loss Target in Second Quarter 2024 August 8, 2024 SAN FRANCISCO -- Blend Labs, Inc. (NYSE:BLND), the leading platform for digital banking solutions, today announced its second quarter 2024 financial results. "The second quarter marked another strong quarter for Blend, as we signed several important deals with new customers across mortgage and consumer banking," said Nima Ghamsari, Head of Blend. "Despite c ...

Momentum investing is all about the idea of following a stock's recent trend, which can be in either direction. In the 'long' context, investors will essentially be "buying high, but hoping to sell even higher." And for investors following this methodology, taking advantage of trends in a stock's price is key; once a stock establishes a course, it is more than likely to continue moving in that direction. The goal is that once a stock heads down a fixed path, it will lead to timely and profitable trades. A g ...

Financial Data and Key Metrics Changes - Total company revenues in Q1 2024 were $34.9 million, near the high end of guidance, with platform revenue at $23.8 million [33] - Non-GAAP gross profit was $18.3 million, with gross margins for the Blend platform segment at 68% [37] - Unlevered free cash flow was negative $1.3 million, a significant improvement from the previous quarter [19][67] Business Line Data and Key Metrics Changes - Mortgage suite revenue was $15.1 million, in line with expectations for the seasonally low first quarter [33] - Consumer banking products revenue grew 29% year-over-year to $6.7 million [62] - Title revenue was $11.1 million, with non-GAAP Title margins increasing to 19% [63] Market Data and Key Metrics Changes - Market share for the company was reported at 21.2%, an increase of 140 basis points from previous reports [34] - The pipeline for new mortgage customers grew to 35 opportunities, up from 30 last quarter [11] - The company’s remaining performance obligations (RPO) increased to $93 million, up from $43.9 million year-over-year [66] Company Strategy and Development Direction - The company received a $150 million strategic investment from Haveli, enhancing financial flexibility and eliminating interest costs [8][17] - Focus on expanding product offerings to credit unions and smaller banks, which are historically underserved by technology providers [104] - Plans to invest in both product development and go-to-market strategies to capitalize on consumer opportunities [80] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company’s ability to achieve positive cash flow generation sooner than previously planned due to the elimination of debt [20][30] - The company is well-prepared to take advantage of market recovery when it occurs, particularly in the mortgage sector [31] - Management highlighted the importance of focusing on customer needs and delivering value through technology [104] Other Important Information - The company is now debt-free, which is expected to save approximately $18 million in annualized interest expense [20] - The company is committed to achieving non-GAAP operating profitability by the end of the year [41][57] - The company is seeing strong early traction in its consumer banking business, with a growing pipeline of opportunities [62][54] Q&A Session Summary Question: What does the capital injection enable the company to utilize those savings towards? - The capital allows for increased investment in the platform and mortgage products, as well as enhancing go-to-market efforts [80] Question: How is the company thinking about the opportunity in consumer banking? - The company is seeing early indications of momentum and is focused on delivering a digital-first experience to customers [83] Question: Can you elaborate on the operational best practices planned for the partnership? - The focus will be on ensuring efficient deployment and leveraging internal capabilities to enhance customer solutions [86] Question: What is the expected shape for the rest of the year based on internal forecasts? - The company is focused on controllable factors and is seeing strong execution, with a healthy mortgage pipeline [90] Question: What types of deals are being executed in consumer banking? - Deals often involve replacing lightweight legacy systems with more robust solutions that enhance efficiency and customer experience [114]

For the quarter ended March 2024, Blend Labs (BLND) reported revenue of $34.95 million, down 6.4% over the same period last year. EPS came in at -$0.06, compared to -$0.15 in the year-ago quarter.The reported revenue represents a surprise of +2.97% over the Zacks Consensus Estimate of $33.94 million. With the consensus EPS estimate being -$0.08, the EPS surprise was +25.00%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine ...