Blend Labs Q2 revenue beats estimates on new customer deals
Blend Labs Q2 revenue beats estimates on new customer deals
Overview
US digital banking software firm's Q2 revenue rose 7% yr/yr, beating analyst expectations
Non-GAAP operating income exceeded the high end of company guidance
Company repurchased 11 mln shares for $18.2 mln in Q2
Outlook
Blend Labs sees Q3 2026 revenue between $31.5 mln and $33.5 mln
Company expects Q3 2026 non-GAAP operating income of $3.5 mln to $4.5 mln
Blend says market conditions remain challenging but aims to re-accelerate growth in 2027
Result Drivers
NEW CUSTOMER DEALS - Co added or expanded 14 customer relationships in Q2, including 6 deals for Autopilot
AUTOPILOT LAUNCH - Commercial launch of Autopilot product on July 1 with six lenders signed on
Company press release: ID:nBw4WjpH9a
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Beat | $33.84 mln | $33.08 mln (6 Analysts) |
Q2 Net Loss |
| $1.48 mln |
|
Q2 Gross Profit |
| $24.89 mln |
|
Q2 Income from operations |
| -$1.58 mln |
|
Q2 Pretax Loss |
| $1.36 mln |
|
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the software peer group is "buy"
Wall Street's median 12-month price target for Blend Labs, Inc. is $4.00, about 99% above its August 5 closing price of $2.01
The stock recently traded at 25 times the next 12-month earnings vs. a P/E of 16 three months ago
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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)