Company: BLND
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001855747-25-000069
Chunk: 395

Company: Blend Labs, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 395
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 18,208 Early exercised options subject to repurchase— 2 Non-plan Co-Founder and Head of Blend options20,194 26,057 Unvested restricted stock units11,456 18,270 Unvested performance stock awards(1)8,435 5,500 Series G Warrant598 598 Haveli Warrant11,111 11,111 Series A redeemable convertible preferred stock46,154 46,154 Total anti-dilutive securities114,262 125,900 ____________(1) Performance conditions were not satisfied for the unvested performance stock awards as of June 30, 2025.

25

Blend Labs, Inc.Notes to Condensed Consolidated Financial Statements(Unaudited)

15. Segment Information

The Company’s CODM is the chief executive officer. The Company’s operating segments are defined in a manner consistent with how the Company manages its operations and how the CODM evaluates the results and allocates the Company’s resources. During the first quarter of 2025, the Company classified the results of its previously reported Title segment as discontinued operations in its unaudited condensed consolidated statement of operations. Refer to Note 16, Held for sale and Discontinued Operations, for additional details. As a result, the Company now operates in a single operating segment and a single reportable segment. The CODM assesses the segment performance by using net loss from continuing operations as a measure of segment profitability. The CODM uses revenue and net loss from continuing operations for purposes of making operating decisions, allocation of resources, and evaluation of financial performance, primarily by monitoring actual to budget results as well as by reviewing year-over-year performance.The CODM also reviews significant segment expenses for the single reportable segment. Significant segment expenses include cost of revenue, research and development expenses, sales and marketing expenses, and general and administrative expenses, all of which are presented in our unaudited condensed consolidated statements of operations and comprehensive income (loss). Other segment items include restructuring expenses, interest expense, other income (expense), net and income tax (expense) benefit, which are also presented in our unaudited condensed consolidated statements of operations and comprehensive income (loss).The Company does not evaluate performance or allocate resources based on segment assets, and therefore, such information is not presented.The Company’s reported measure of segment profit or loss is as follows:Three Months Ended June 30,Six Months Ended June 30,2025202420252024(In thousands)(