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Blend Labs (BLND)
NYSE:BLND
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Earnings Data
Report Date
Mar 13, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
<$0.01Last Year’s EPS
-$0.07Same Quarter Last Year
Strong Buy
Based on 6 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2024
|% Change Since: 13.99%
|Next Earnings Date:Mar 13, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a positive sentiment overall, driven by the achievement of profitability, strong growth in the Consumer Banking segment, and strategic partnerships aimed at enhancing profitability. The challenges noted, such as the decline in Title margins and cautious outlook for mortgage originations, are acknowledged but do not overshadow the positive momentum in the company's strategic initiatives and financial performance.Company Guidance
During Blend's Q3 2024 earnings call, significant guidance for the fourth quarter was discussed, focusing on sustained profitability and strategic partnerships. The company's total revenue for Q3 was $45.2 million, with Platform revenue at $33.1 million, showing a 16% year-over-year increase. Consumer Banking revenue grew by 54%, surpassing the 35% growth target, while Mortgage Suite revenue rose by 6% year-over-year. Blend achieved its first positive non-GAAP operating income quarter, with a gross profit of $26.3 million and software gross margins of 80%. The company anticipates Q4 Platform revenue between $29 million and $31 million and total revenue between $39.5 million and $42.5 million. These projections reflect strategic moves like the partnership with Covered Insurance Solutions, expected to simplify operations and enhance profitability. As Blend advances, it maintains a strong pipeline and aims for continued momentum in both Mortgage and Consumer Banking segments, despite macroeconomic challenges.First Positive Non-GAAP Operating Income Quarter
This quarter marks Blend's first positive non-GAAP operating income as a public company, achieved a full quarter ahead of target.
Consumer Banking Growth
The Consumer Banking segment grew over 50% compared to the same time last year, surpassing the previously shared growth target of 35%.
Record Remaining Performance Obligations (RPO)
RPO reached $107.4 million, marking a 82% increase compared to the same period last year, setting a record for Blend.
Strategic Partnership in Homeowners Insurance
Blend's insurance operations were sold to Covered Insurance Solutions, leading to expected profitability improvements starting in Q4 2024.
Increase in Economic Value Per Funded Loan
Economic value per funded loan increased by approximately $13 year-over-year, reaching $99.
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BLND Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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BLND Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $3.86 | $4.44 | +15.03% |
| Aug 08, 2024 | $2.69 | $3.30 | +22.68% |
| May 08, 2024 | $2.36 | $2.78 | +17.80% |
| Mar 14, 2024 | $2.35 | $2.81 | +19.57% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Blend Labs (BLND) report earnings?
Blend Labs (BLND) is schdueled to report earning on Mar 13, 2025, TBA Not Confirmed.
What is Blend Labs (BLND) earnings time?
Blend Labs (BLND) earnings time is at Mar 13, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is BLND EPS forecast?
BLND EPS forecast for the fiscal quarter 2024 (Q4) is <$0.01.
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