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Blend Reports Second Quarter 2021 Financial Results SAN FRANCISCO , Aug. 19 , 2021 -- Blend Labs , Inc. ( NYSE : BLND ) , a leader in cloud banking software , today announced financial results for the second quarter ended June 30 , 2021 . Second Quarter Financial Highlights • Revenue of $ 32.1 million , up $ 10.1 million , or 46 % year - over - year Loss from operations of $ 39.6 million , compared with $ 20.8 million in the prior year Non - GAAP loss from operations of $ 26.3 million , compared with $ 16.4 million in the prior year Total banking transaction volume of over 520,000 , up 51 % year - over - year " In the second quarter we continued to expand our customer base and grow within existing customers , closed a large acquisition that will accelerate the advancement of our platform , and executed a successful IPO with strong investor interest and support , ” said Nima Ghamsari , co- founder and head of Blend . “ Today's consumers are looking for proactive financial services experiences that are on par with the rest of their digital lives , and I'm confident we can help our customers exceed these evolving expectations as we innovate together . " Second Quarter Business Highlights • • We closed our acquisition of Title365 and integration work is well underway We now serve 32 of the top 100 U.S. financial services firms by assets under management , up from 31 at the end of 2020 , and 28 of the top 100 U.S. non - bank mortgage lenders , up from 24 at the end of 2020 Customer wins include Mr. Cooper , a top - 15 U.S. mortgage lender ( mortgage , title , and close ) , KeyBank , a top - 20 U.S. bank ( mortgage ) , Bilt Technologies ( credit card ) , and BECU , one of the nation's largest credit unions ( consumer banking suite ) We deepened relationships with large existing customers , including Utah Community Credit Union ( consumer banking suite ) , Fairway Independent Mortgage , a top - 10 U.S. mortgage lender ( mortgage ) , and BMO Harris Bank , a top - 25 U.S. bank ( personal loans ) " Blend's performance reflects a continued increase in banking transactions from our customers as our platform gains more traction across the financial services industry , ” said Marc Greenberg , head of finance at Blend . “ We remain on track for a strong 2021 as we continue focusing on onboarding new customers to our platform , driving adoption of new Blend products , and progressing on the migration of Title365 customers to Blend Title . " FY2021 Guidance • Revenue is expected to be in the range of $ 226- $ 232 million • Pro forma revenue , which includes the contribution of Title365 as if the acquisition was completed on December 31 , 2020 , is expected to be in the range of $ 365- $ 371 million