NOVATO, Calif. (AP) — NOVATO, Calif. (AP) — Blend Labs Inc. (BLND) on Tuesday reported a loss of $2.6 million in its fourth quarter.
The Novato, California-based company said it had a loss of 3 cents per share. Earnings, adjusted for stock option expense and amortization costs, were less than 1 cent on a per-share basis.
The cloud-based platform for financial companies posted revenue of $32.4 million in the period.
For the year, the company reported that its loss narrowed to $6.9 million, or 10 cents per share. Revenue was reported as $123.5 million.
For the current quarter ending in March, Blend Labs said it expects revenue in the range of $28.5 million to $30 million.
In the final minutes of trading on Tuesday, the company’s shares hit $1.61. A year ago, they were trading at $3.19.
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