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Jun 30, 2021
Blend Q2 2021 Earnings Report
Blend's financial results for the second quarter of 2021 were reported, highlighting revenue growth and strategic acquisitions.
Key Takeaways
Blend Labs reported a 46% year-over-year increase in revenue to $32.1 million for Q2 2021. The company closed its acquisition of Title365 and is integrating it into its platform. Blend also expanded its customer base, now serving 32 of the top 100 U.S. financial services firms by assets under management.
Revenue increased by 46% year-over-year, reaching $32.1 million.
Loss from operations was $39.6 million, compared to $20.8 million in the prior year.
Acquisition of Title365 was completed, with integration underway.
Total banking transaction volume increased by 51% year-over-year, exceeding 520,000.
Blend
Blend
Forward Guidance
Blend expects revenue to be in the range of $226-$232 million for FY2021. Pro forma revenue, including Title365 as if the acquisition was completed on December 31, 2020, is expected to be in the range of $365-$371 million.