Company: BLND
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001855747-25-000069
Chunk: 450

Company: Blend Labs, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 450
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 Months Ended June 30,Six Months Ended June 30,2025202420252024(in thousands)Revenue$9,249 $11,784 $17,963 $22,891 Cost of revenue8,171 10,447 17,072 19,455 Operating expenses:Sales and marketing329 366 666 826 General and administrative1,414 1,148 3,098 2,730 Impairment of intangible asset2,000 — 2,000 Restructuring483 93 1,155 104 (Loss) income from operations(3,148)(270)(6,028)(224)Other income (expense), net150 41 227 41 Net (loss) income before income taxes(2,998)(229)(5,801)(183)Income tax (expense) benefit— 7 — 7 Net (loss) income from discontinued operations$(2,998)$(222)$(5,801)$(176)

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

17. Subsequent Events

One Big Beautiful BillOn July 4, 2025, the President signed H.R. 1, the “One Big Beautiful Bill Act,” into law. The legislation includes several changes to federal tax law that generally allow for more favorable deductibility of certain business expenses beginning in 2025, including the restoration of immediate expensing of domestic R&D expenditures, reinstatement of 100% bonus depreciation, and more favorable rules for determining the limitation on business interest expense. As the law was enacted after our June 30, 2025 balance sheet date, its effects are not reflected in the accompanying condensed consolidated financial statements. The Company is currently evaluating the impact on future periods.

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ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion and analysis of our financial condition and results of operations should be read in conjunction with our unaudited condensed consolidated financial statements and the related notes appearing elsewhere in this Quarterly Report on Form 10-Q and in our audited consolidated financial statements included in our Annual Report on Form 10-K for the year ended December 31, 2024. This discussion contains forward-looking statements that involve risks and uncertainties. Factors that could cause or contribute to such differences include those identified below and those discussed in the section titled “Risk Factors”