Blend Labs, Inc. [Rocket]

Overview

Blend Labs, Inc.

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Recent News + Filings (All items)

Date Filed	Type	Description
10/12/2023	4	Form 4 - Statement of changes in beneficial ownership of securities:
10/03/2023	4	Ghamsari Nima (Head of Blend) has filed a Form 4 on Blend Labs, Inc.
09/29/2023	144	Form 144 - Report of proposed sale of securities:
08/25/2023	4	Ling Winnie (Head of Legal) has filed a Form 4 on Blend Labs, Inc.
08/25/2023	4	Jafari Amir (Head of Finance and Admin.) has filed a Form 4 on Blend Labs, Inc.
08/25/2023	4	Ghamsari Nima (Head of Blend) has filed a Form 4 on Blend Labs, Inc.
08/25/2023	8-K	Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements...

Revenue Mix by Segment

Financial Summary (All financials)

In millions, except per share items	Dec-31-22	Dec-31-21	Dec-31-20	Dec-31-19
Revenues	235.2	234.5	96.0	50.7
Revenue growth	0.3%	144.2%	89.5%
Cost of goods sold	154.0	126.6	34.3	19.5
Gross profit	81.2	107.9	61.7	31.1
Gross margin	34.5%	46.0%	64.3%	61.4%
Sales and marketing	85.2	84.1	51.4	37.7
Research and development	138.1	92.2	55.5	48.6
General and administrative	139.1	128.8	30.1	26.6
EBITA	-272.8	-188.0	-72.4	-81.7
EBITA margin	-116.0%	-80.2%	-75.4%	-161.3%
Amortization of intangibles	8.4	9.2	2.9
EBIT	-281.2	-197.2	-75.3	-81.7
EBIT margin	-119.6%	-84.1%	-78.4%	-161.3%
Pre-tax income	-766.1	-208.0	-74.6	-81.4
Income taxes	-2.2	-38.9	0.0	0.0
Tax rate	0.3%	18.7%
Net income	-768.6	-171.3	-74.6	-81.5
Net margin	-326.8%	-73.1%	-77.7%	-160.7%

Diluted EPS	($3.28)	($1.30)	($1.89)	($2.49)
Shares outstanding (diluted)	234.2	132.0	39.4	32.8

EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.