Blend Labs, Inc. (BLND) is focused on the development of a cloud banking portfolio to drive the customer’s journey for any banking product. The company’s technology is utilized by financial services business providers for increased productivity and the acquisition of more clients.
The price of BLND stock during the regular trading on February 2, 2022, was $8.52 with a slight decline of 0.58%. At last check in the pre-market, the stock further went down by 8.33%.
BLND: Events and Happenings
On February 2, 2022, BLND reported about the filing of statements of changes in the beneficial ownership. On January 4, 2022, BLND announced the participation of its Executive management Needham Growth Conference on January 10, 2022. On December 8, 2021, BLND reported about the adoption of Blend Close by approximately 125 lenders. Blend Close is the company’s online mortgage and home equity products closing solution.
On December 3, 2021, BLND updated about its management’s participation at UBS Global TMT Conference on December 6, 2021. On November 22, 2021, BLND announced its Executive presentation at KBW Innovation in Finance Conference on December 7, 2021. On November 19, 2021, BLND announced its Executive’s participation at Wells Fargo TMT Summit on December 2, 2021.
On November 17, 2021, the company announced the expansion of its ties with Paramount Residential Mortgage Group, Inc. Both the companies agreed to bring effective experiences to homeowner’s insurance, mortgage origination, closing, and income verification. On November 11, 2021, BLND updated about the participation of its management at the CITI FinTech Conference on November 18, 2021.
BLND: Key Financials
On November 10, 2021, BLND released its financial results for the third quarter ended September 30, 2021. Some of the key features are as follows.
Revenue
Total revenue in Q3 2021 was $89.5 million compared to $27.8 million in the same period of 2020. The company beat the estimated revenue by $3.35 million.
EPS
Basic and diluted net loss per share in Q3 2021 was $76.3 million or $0.38 versus $15.2 million or $0.38 in the same period of 2020. The company missed the estimated EPS by $0.02.
Conclusion
BLND stock is down performing for the past six months period due to various reasons one being the pandemic-related slow economic activity. The company’s stock showed a declining trend in the pre-market session today as the company reported the recent SEC filing. The financial experts are attributing the declining trend to the recent SEC filings by the company.
