Blend Labs reports Q4 adjusted EPS 0c, consensus 1c

Reports Q4 revenue $41.4M, consensus $41.39M. “2024 was a pivotal year for Blend. In Q4, we brought on several new customers, including PHH Mortgage and a top 10 U.S. bank,” said Nima Ghamsari, Head of Blend. “We achieved 42% annual revenue growth in our Consumer Banking business, reinforcing its promise as an emerging growth driver. At the same time, we made significant strides in simplifying Blend and sharpening our focus on a pure software model. We expanded high margin partnerships in homeowners insurance and income verification, and are now finalizing a similar approach in title insurance. These efforts have led us to our most profitable quarter yet, and sets us up to fully focus on our core mission–delivering frictionless origination software for our customers.”