SAN FRANCISCO (AP) — SAN FRANCISCO (AP) — Blend Labs Inc. (BLND) on Thursday reported a loss of $82.7 million in its fourth quarter.
On a per-share basis, the San Francisco-based company said it had a loss of 35 cents. Losses, adjusted for stock option expense and restructuring costs, were 21 cents per share.
The cloud-based platform for financial companies posted revenue of $42.8 million in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $44.6 million.
For the year, the company reported that its loss widened to $768.6 million, or $3.28 per share. Revenue was reported as $235.2 million.
For the current quarter ending in March, Blend Labs said it expects revenue in the range of $33 million to $35 million.
In the final minutes of trading on Thursday, the company's shares hit $1.47. A year ago, they were trading at $6.53.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BLND at https://www.zacks.com/ap/BLND