Blend Labs, Inc. (BLND) is one of the leading developers of a cloud-based banking portfolio to drive the client’s journey for multiple banking products. Its technology is utilized by financial services business providers to enhance their productivity and acquisition of additional customers.
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BLND stock price during the regular trading of March 31, 2022, was $5.70 with a decrease of 5.32%. Its price further nosedived as of the writing in the premarket session of April 1, 2022, by 17.5%.
BLND: Key Financials
BLND issued fourth-quarter consolidated financials on March 31, 2022, for the three months of 2021 ended on December 31, 2021. Some important updates are mentioned below.
The company posted total revenues of $81.0 million during Q4 2021, in comparison to $30.6 million for the corresponding quarter in 2020. Its revenue represented a remarkable $50.4 million gain YoY.
Net loss per share basic and diluted for Q4 2021 was $71.5 million or $0.32 per share corresponding to $15.9 million or $0.30 per share in the corresponding fourth quarter of 2020. The company’s net loss inclined considerably YoY.
BLND: Events and Happenings
On January 4, 2022, BLND updated its top management’s presence at the Needham Growth Conference held on January 10, 2022. On December 3, 2021, BLND reported its Executive management’s presentation at the UBS Global TMT Conference held on December 6, 2021. On November 19, 2021, BLND stated that its Executive management participated in the Wells Fargo TMT Summit held on December 2, 2021.
On November 17, 2021, BLND informed the press regarding the growth of its relations with Paramount Residential Mortgage Group, Inc. Both companies decided to bring impactful experiences to owner’s insurance, mortgage origination, and income verification. Paramount Group is a privately held mortgage banker and residential home lender. PRMG is also taking benefit of the company’s LO Toolkit and real estate agent mobile app.
The stock price of BLND dropped by almost $15 in the past year (approximately 72%) as the emergence of variants of COVID-19 and the worsening situation. Its price nosedived further in Friday’s premarket as BLND reported Q4 2021 financials as it did not meet the financial experts’ expectations.