Blend Labs reports Q3 adjusted EPS (9c), consensus (9c)

Reports Q3 revenue $40.6M, consensus $40.26M. “Blend’s third quarter results demonstrate the continued strength of our business model and the promise of our long-term vision. We delivered $40.6 million in total company revenue, well within the range we provided during our September Investor Day, driven in part by double-digit year-over-year growth in our consumer banking business revenue. Our mortgage business once again outperformed the broader origination market as our customers continue to utilize our cost-saving product add-ons. Finally, we achieved another material reduction in our cash burn as we inflect towards our ultimate goal of non-GAAP profitability,” said Nima Ghamsari, Head of Blend.