Company: BLND
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001855747-25-000041
Chunk: 489

Company: Blend Labs, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 489
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— (1,258)— (3,806)— — (3,806)Stock-based compensation— — — 8,707 — — 8,707 Unrealized loss on investments in marketable securities— — — — (104)— (104)Foreign currency translation gain— — — — 9 — 9 Accretion of redeemable noncontrolling interest to redemption value1,461 — — (1,461)— — (1,461)Net income (loss)5 — — — — (20,668)(20,668)Balances as of March 31, 2024    $47,656 252,319 $2 $1,326,187 $346 $(1,362,298)$(35,763)

See accompanying notes to condensed consolidated financial statements

4

Blend Labs, Inc.

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

Three Months Ended March 31,20252024Operating activitiesNet loss$(9,412)$(20,663)Less: Net (loss) income from discontinued operations(2,803)46Loss from continuing operations(6,609)(20,709)Adjustments to reconcile net loss to net cash used in operating activities:Stock-based compensation6,0488,045Depreciation and amortization407316Amortization of deferred contract costs315266Amortization of debt discount and issuance costs—520Amortization of operating lease right-of-use assets77737Gain on investment in equity securities—(4,417)Other(138)(195)Changes in operating assets and liabilities:Trade and other receivables3,9061,155Prepaid expenses and other assets, current and non-current389853Deferred contract costs, non-current(353)256Accounts payable1,046(351)Deferred revenue13,25412,556Accrued compensation511(734)Operating lease liabilities(947)(946)Other liabilities, current and non-current2,179(379)Net cash provided by (used in) operating activities - continuing operations20,085(3,027)Net cash provided by (used in) operating activities - discontinued operations305(841)Net cash provided by (used in) operating activities20,390(3,868)Investing activitiesPurchases of marketable securities(11,