Blend Labs Expects Q2 Blend Platform Segment Revenue Of $27M-$30M, Title Revenue Of $10.5M-$11.5M
Portfolio Pulse from Benzinga Newsdesk
Blend Labs provided guidance for Q2, expecting Blend Platform Segment Revenue to be between $27M-$30M and Title Revenue between $10.5M-$11.5M. The guidance is based on an estimated 935,000 - 1,025,000 U.S. aggregate industry mortgage originations for 2Q24. Additionally, Blend anticipates a Non-GAAP Net Operating Loss of ($10.5) – ($7.5) million.
May 08, 2024 | 9:29 pm
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Blend Labs expects Q2 Blend Platform Segment Revenue of $27M-$30M and Title Revenue of $10.5M-$11.5M, with a Non-GAAP Net Operating Loss of ($10.5) – ($7.5) million.
The guidance provided by Blend Labs indicates a clear revenue target for the upcoming quarter, which could influence investor sentiment. However, the anticipated Non-GAAP Net Operating Loss suggests financial challenges. The mixed nature of this guidance (positive revenue outlook against a backdrop of operational losses) is likely to result in a neutral short-term impact on the stock price, as investors weigh the potential for growth against the current losses.
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