First Quarter 2024 Outlook
Blend is providing guidance for the first quarter of 2024 as follows:
$ in millions | |
Q1 2024 Guidance | |
Blend Platform Segment Revenue | $22.0 – $24.0 |
Title Revenue | $10.5 – $11.5 |
Blend Labs, Inc. Consolidated Revenue | $32.5 – $35.5 |
Non-GAAP Net Operating Loss | ($14.0) – ($12.0) |
Blend's 1Q24 guidance reflects an internally estimated 800,000 - 875,000 U.S. aggregate industry mortgage originations in 1Q24.
Note that economic conditions, including those affecting the levels of real estate and mortgage activity, as well as the financial condition of some of our financial customers, remain highly uncertain.
We have not provided the forward-looking GAAP equivalent to our non-GAAP Net Operating Loss outlook or a GAAP reconciliation as a result of the uncertainty regarding, and the potential variability of, stock-based compensation, which is affected by our hiring and retention needs and future prices of our stock, and non-recurring, infrequent or unusual items.