NOVATO, Calif. (AP) 鈥� NOVATO, Calif. (AP) 鈥� Blend Labs Inc. (BLND) on Thursday reported a loss of $8 million in its first quarter.
On a per-share basis, the Novato, California-based company said it had a loss of 5 cents. Earnings, adjusted for stock option expense and to account for discontinued operations, were less than 1 cent on a per-share basis.
The cloud-based platform for financial companies posted revenue of $30.8 million in the period.
For the current quarter ending in June, Blend Labs said it expects revenue in the range of $32 million to $34 million.
In the final minutes of trading on Thursday, the company’s shares hit $1.62. A year ago, they were trading at $3.29.
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