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

Whereas the mortgage business has been shrinking, Mix says it has been constructing its market share, processing 23.2 p.c 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 12 months as income exceeded steering the corporate offered in posting an $81.4 million fourth-quarter loss.

Mix reported a $66.2 million first-quarter internet loss Tuesday, down 9 p.c from the $72.4 million internet loss the identical time a 12 months in the past.

At $37.3 million, income beat the $33 million to $35 million projected in March however represented a 48 p.c decline from a 12 months in the past. Trying forward, Mix executives stated they count on second-quarter income of $39.5 million to $41 million.