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BLND Price Correlated With Financials For Blend Labs

Free historical financial statements for Blend Labs Inc.. See how revenue, income, cash flow, and balance sheet financials have changed over 4 quarters since 2021. Compare with BLND stock chart to see long term trends.

BLND Stock Compared to Quarterly

BLND Income Statement

Revenue, Net:71524000
Revenue Per Share:0.3105
Cost of Goods & Services Sold:42655000
Gross Profit:28869000
Selling, General & Admin Expense:37102000
Research & Development Expense:35106000
Total Operating Expenses:98617000
Operating Income:-75215000
Income Taxes:-2797000
Net Income:-73546000
Earnings Per Share, Basic:-0.32
Shares Outstanding, Basic Avg:230329000

BLND Cash Flow

Operating Activities Net Income:
Depreciation, Depletion & Amortization:4601000
Net Cash from Operations:-45842000
Net Cash from Operations Per Share:-0.199
Net Cash from Financing Activities:1081000
Property, Plant & Equipment Purchases:268000
Net Cash from Investing Activities:-683000
Net Change in Cash & Equivalents:-45416000

BLND Balance Sheet

Cash and Cash Equivalents:173024000
Total Current Assets:560826000
Property, Plant & Equipment, Net:5895000
Total Assets:1054430000
Accounts Payable:2116000
Total Short-Term Liabilities:54041000
Total Liabilities:290379000
COMPANY PROFILE
Description of Business and Basis of Presentation Description of Business

Blend Labs, Inc. (the “Company,” “Blend,” “we,” “us,” or “our”) was incorporated on April 17, 2012. The Company offers a cloud-based software platform for financial services firms that is designed to power the end-to-end consumer journey for banking products. The Company’s solutions make the journey from application to close fast, simple, and transparent for consumers, while helping financial services firms increase productivity, deepen customer relationships, and deliver exceptional consumer experiences.

On June 30, 2021, the Company acquired a 90.1% interest in Title365, an underwritten title insurance agency engaged in selling title insurance policies and escrow services throughout the United States. Integrating Title365 with the Company’s software platform enables financial services firms to automate title commitments and streamline communication with consumers and settlement teams, enabling the customers to accelerate the title, settlement, and closing process at scale for mortgages, home equity lines of credit, and home equity loans.

Basis of Presentation, Principles of Consolidation, and Use of Estimates

The accompanying unaudited condensed consolidated balance sheets as of March 31, 2022 and December 31, 2021, the unaudited condensed consolidated statements of operations and comprehensive loss for the three months ended March 31, 2022 and 2021, the unaudited condensed consolidated statements of redeemable noncontrolling interest and stockholders’ equity for the three months ended March 31, 2022 and 2021, and the unaudited condensed consolidated statements of cash flows for the three months ended March 31, 2022 and 2021 reflect all adjustments that are of a normal, recurring nature and that are considered necessary for a fair presentation of the results for the periods shown in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and the applicable rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”) for interim financial reporting periods. Accordingly, certain information and footnote disclosures have been condensed or omitted that would ordinarily be required under U.S. GAAP for complete financial statements. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021.

The accompanying unaudited condensed consolidated financial statements include the accounts of Blend Labs, Inc. and its subsidiaries in which the Company holds a controlling financial interest. Noncontrolling interest represents the minority stockholder’s share of the net income and equity in a consolidated subsidiary. All intercompany balances and transactions have been eliminated in consolidation.

The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make, on an ongoing basis, estimates and assumptions that affect the amounts reported in the consolidated financial statements and the notes thereto. Actual results may differ from those estimates. Such estimates include, but are not limited to, estimates of variable consideration, estimates of standalone selling prices of performance obligations in customer contracts with multiple performance obligations, evaluation of contingencies, evaluation of collectability of accounts receivable, determination of reserves for title and escrow losses, determination of period of benefit for deferred contract costs, determination of the incremental borrowing rates used in calculations of lease liabilities, determination of fair value of stock-based compensation, determination of fair value of warrants, valuation of deferred tax assets, valuation of acquired intangible assets, valuation of the redeemable noncontrolling interest,

Data imported from Blend Labs Inc. SEC filings. Check original filings before making any investment decision.