Blend Labs, Inc Q3 Loss Increases, misses estimates

Blend Labs, Inc (..) announced Loss for its third quarter that increased from the same period last year and missed the Street estimates.

The company's earnings totaled -$133.97 million, or -$0.57 per share. This compares with -$76.93 million, or -$0.38 per share, in last year's third quarter.

Excluding items, Blend Labs, Inc reported adjusted earnings of -$42.76 million or -$0.91 per share for the period.

Analysts on average had expected the company to earn -$0.17 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 38.2% to $55.35 million from $89.57 million last year.

Blend Labs, Inc earnings at a glance (GAAP) :

-Earnings (Q3): -$133.97 Mln. vs. -$76.93 Mln. last year.
-EPS (Q3): -$0.57 vs. -$0.38 last year.
-Analyst Estimate: -$0.17
-Revenue (Q3): $55.35 Mln vs. $89.57 Mln last year.

Full year revenue guidance: $235 - $240 Mln

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