BLND - Blend Labs Inc. (BLND) Q1 2024 Earnings Call Transcript
2024-05-08 21:37:05 ET
Blend Labs, Inc. (BLND)
Q1 2024 Earnings Conference Call
May 8, 2024 4:30 PM ET
Company Participants
Winnie Ling – Head-Legal and People
Nima Ghamsari – Co-Founder and Head-Blend
Amir Jafari – Head-Finance and Administration
Bryan Michaleski – Investor Relations Lead
Conference Call Participants
Dylan Becker – William Blair
David Unger – Wells Fargo
Ryan Tomasello – KBW
Joseph Vafi – Canaccord Genuity
Seth Gilbert – UBS
Presentation
Winnie Ling
Good afternoon, and welcome to Blend’s First Quarter 2024 Earnings Conference Call. My name is Winnie Ling and I’m Head of Legal and People for the company. Joining us today are Nima Ghamsari, Co-Founder and Head of Blend; and Amir Jafari, our Head of Finance and Administration. After Nima and Amir delivered their prepared remarks, we will open up the call for questions moderated by our Investor Relations Lead, Bryan Michaleski.
You can find the supplemental slides on our Investor Relations webpage at investor.blend.com. During the call, we’ll refer to certain non-GAAP measures, which are reconciled to GAAP results in today’s earnings release and in the appendix to our supplemental slides. Non-GAAP measures are not intended to be a substitute for GAAP results.
Also, certain statements made during today’s conference call regarding Blend and its operations, in particular, its guidance for the second quarter of 2024, may be considered forward-looking statements under Federal Securities Laws. The Company cautions you that forward-looking statements involve substantial risks and uncertainties and a number of factors, many of which are beyond the company’s control could cause actual results events or circumstances to differ materially from those described in these statements.
Please see the risk factors we’ve identified in our most recent 10-K, 10-Qs and other SEC filings. We’re not undertaking any commitment to update these statements if conditions change except as required by law.
With that said, I’ll now turn the call over to Nima.
Nima Ghamsari
Thank you, Winnie, and good afternoon, everyone. Amir and I have a lot to share today given the company’s recent strategic announcement, as well as several important business highlights since our last earnings call.
We’ll first discuss the investment we received from Haveli last week, which involved $150 million capital infusion, as well as the beginning of a partnership that will deliver value across our business and most importantly, to our customers. This has several strategic outcomes for us, including the elimination of interest costs and the improvement of our balance sheet, which for the first time as a public company is debt free....
Blend Labs, Inc. (BLND) Q1 2024 Earnings Call Transcript