Blend Labs(US:BLND)2025-02-27 21:42Financial Performance Highlights - Blend Labs achieved revenue of $41.4 million in Q4 2024, exceeding guidance and demonstrating year-over-year growth despite challenging economic conditions[6] - Non-GAAP net operating income reached $5.2 million with a margin of 13% in Q4 2024, driven by business simplification[6] - The company's free cash flow improved by $13.6 million year-over-year[20] Revenue Analysis - Consumer Banking Suite revenue grew by 48% year-over-year[6, 7] - Consumer Banking Suite revenue reached $9.5 million in Q4 2024[8] - Mortgage Suite revenue was $18.2 million in Q4 2024[10] - Total revenue increased by 15% year-over-year, reaching $41.408 million in Q4 2024[29] Margin and Expense Management - Blend Platform gross margins remained steady at 75% in Q4 2024[15, 16] - Non-GAAP operating expenses were significantly reduced year-over-year[17] - Non-GAAP sales and marketing expenses decreased to $5.5 million in Q4 2024[18] Guidance - Blend expects U S aggregate industry mortgage originations to be between 800,000 and 900,000 units for Q1 2025[25] - Blend Platform segment revenue is projected to be $25.0 million to $27.0 million for Q1 2025[26] - The company anticipates Consumer Banking Suite revenue to increase from 35% to 40% CAGR between FY23 and FY26[26]