Blend Labs Sees Q4 Blend Platform Revenue $25M-$30M; Title Revenue $9.5M-$10.5M; Consolidated Revenue $34.5M-$40.5M Vs $40.19M Est.
Portfolio Pulse from Benzinga Newsdesk
Blend Labs has provided its Q4 2023 guidance, expecting Blend Platform Revenue to be between $25M-$30M, Title Revenue between $9.5M-$10.5M, and Consolidated Revenue between $34.5M-$40.5M. This is lower than the estimated $40.19M. The company anticipates a 5% YoY decline in mortgage volumes from 4Q22 to 4Q23. Economic conditions and levels of real estate and mortgage activity remain uncertain.
November 08, 2023 | 1:28 am
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NEGATIVE IMPACT
Blend Labs' Q4 2023 revenue guidance is lower than estimates, with a projected 5% YoY decline in mortgage volumes. This could negatively impact the company's stock price in the short term.
Blend Labs' lower than expected revenue guidance for Q4 2023 and the projected decline in mortgage volumes indicate potential financial challenges for the company. This could lead to a decrease in investor confidence and a potential drop in the company's stock price in the short term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100