BLND - Blend Labs GAAP EPS of -$0.57 revenue of $55.35M

• Blend Labs press release ( NYSE: BLND ): Q3 GAAP EPS of -$0.57.
• Revenue of $55.35M (-38.2% Y/Y).
• As of September 30, 2022, Blend had cash, cash equivalents, and marketable securities totaling $400.8 million, with total debt outstanding of $225.0 million in the form of the Company’s five-year term loan.
• Outlook: FY 2022 revenue range of $235 million to $240 million.
• "We are narrowing the range of consolidated revenue, reflecting the strength of our performance amidst the expected reduced industry mortgage volumes. Full year guidance now reflects 56% yearly decline in full year mortgage volumes from 2021 to 2022 as projected by the Mortgage Bankers Association, compared to 41% projected decline as of last quarter," the company said.

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