Previous Close | 3.4200 |
Open | 3.4200 |
Bid | 3.3200 x 900 |
Ask | 3.3300 x 1300 |
Day's Range | 3.2686 - 3.4700 |
52 Week Range | 2.1700 - 20.3500 |
Volume | |
Avg. Volume | 2,364,030 |
Market Cap | 778.654M |
Beta (5Y Monthly) | N/A |
PE Ratio (TTM) | N/A |
EPS (TTM) | -1.2220 |
Earnings Date | Aug 15, 2022 |
Forward Dividend & Yield | N/A (N/A) |
Ex-Dividend Date | N/A |
1y Target Est | 3.67 |
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San Francisco-based Blend Labs Inc. cut 220 positions this month, the company’s second layoff this year that in total cut 25% of its workforce. Blend’s latest layoff affects about 140 employees and the elimination of 80 vacant positions, Blend said in an Aug. 15 SEC filing. This month’s layoff shed staff in its title operations as well as general and administrative functions — the same areas hit by an April layoff that cut about 200 employees.
Shares of Blend Labs (NYSE: BLND) charged sharply higher Tuesday, gaining as much as 38.4%. For the second quarter, Blend Labs generated revenue of $65.5 million, up an eye-catching 104% year over year. Blend Labs took a non-cash impairment charge of $391.8 million on its intangible assets and goodwill to adjust the fair value of its Title365 segment.
My name is Crystal Sumner, head of legal, compliance and risk for the company. With me today are Nima Ghamsari, co-founder and head of Blend; Tim Mayopoulos, president; and Marc Greenberg, head of finance. After Nima and Marc deliver their prepared remarks, the team will take questions.