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Blend Trims Q1 Loss as $37.3M in Revenue Beats Guidance | Inman

Whereas the mortgage trade has been shrinking, Mix says it has been constructing its market share, processing 23.2 % of mortgages originated in H2 2022.

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Lending software program and title insurance coverage supplier Mix Labs Inc. trimmed its losses through the three months of the yr as income exceeded steerage the corporate offered in posting an $81.4 million fourth-quarter loss.

Mix reported a $66.2 million first-quarter web loss Tuesday, down 9 % from the $72.4 million web loss the identical time a yr in the past.

At $37.3 million, income beat the $33 million to $35 million projected in March however represented a 48 % decline from a yr in the past. Trying forward, Mix executives stated they anticipate second-quarter income of $39.5 million to $41 million.