Company: BLND
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001855747-25-000069
Chunk: 363

Company: Blend Labs, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 363
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 to redemption value1,527 — — — — — (1,527)— — (1,527)Issuance of Series A redeemable convertible preferred stock, net of issuance costs— 150 130,784 — — — — — — Issuance of the Warrant in connection with the Series A redeemable convertible preferred stock— — — — — 9,111 — — 9,111 Accretion of Series A redeemable convertible preferred stock to redemption value— — 2,661 — — (2,661)— — (2,661)Net loss(14)— — — — (19,407)(19,407)Balances as of June 30, 2024    $49,169 150 $133,445 254,207 $2 $1,335,928 $304 $(1,381,705)$(45,471)

See accompanying notes to condensed consolidated financial statements

4

Blend Labs, Inc.

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

Six Months Ended June 30,20252024Operating activitiesNet loss$(16,057)$(40,084)Less: Net (loss) income from discontinued operations(5,801)(176)Loss from continuing operations(10,256)(39,908)Adjustments to reconcile net loss to net cash used in operating activities:Stock-based compensation13,61015,342Depreciation and amortization1,047628Amortization of deferred contract costs746519Amortization of debt discount and issuance costs—690Amortization of operating lease right-of-use assets1991,451Gain on investment in equity securities—(4,417)Loss on extinguishment of debt—5,476Other(316)(303)Changes in operating assets and liabilities:Trade and other receivables(364)3,223Prepaid expenses and other assets, current and non-current(1,262)2,883Deferred contract costs, non-current(531)433Accounts payable(419)(1,503)Deferred revenue12,73411,848Accrued compensation(684)(2,433)Operating lease liabilities(1,921)(1,897)Other liabilities, current and non-current2,2101,657Net cash provided by (used in) operating