Company: BLND
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001855747-25-000017
Chunk: 65

Company: Blend Labs, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 8
Chunk 65
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 Refer to Note 13, Restructuring, and Note 16, Strategic Partnership and Sale of Insurance Business, for details.As of December 31, 2024, maturities of operating lease liabilities were as follows:(In thousands)2025$3,224 2026270 2027225 2028236 2029236 Thereafter59 Total lease payments4,250 Less: imputed interest(418)Total operating lease liabilities$3,832 

8. Commitments and Contingencies

Purchase CommitmentsThe Company has future minimum purchase obligations under arrangements with third parties who provide hosting infrastructure services, cloud services, and software as a service (“SaaS”) solutions to support our business operations.

103

Blend Labs, Inc.Notes to Consolidated Financial Statements

The future non-cancelable purchase obligations, which were not recognized on the Company’s consolidated balance sheet as of December 31, 2024, were as follows:Year ending December 31,(In thousands)2025$8,235 20263,151 202781 202817 202916 Total$11,500 ContingenciesFrom time to time and in the normal course of business, the Company may be subject to various legal matters, such as threatened or pending claims or proceedings. The litigation contingencies, if realized, could have a material negative impact on the Company’s financial condition, results of operations, and cash flows. The Company recognizes a provision for litigation losses when a contingent liability is probable and the amount thereof is estimable. Costs associated with the Company's involvement in legal proceedings are expensed as incurred. Amounts accrued for litigation contingencies are based on the Company’s best estimates, assessments of the likelihood of damages, and the advice of counsel and often result from a series of judgments about future events and uncertainties that rely heavily on estimates and assumptions, therefore the actual settlement amounts could differ from the estimated contingency accrual and result in additional charges or reversals in future periods. The Company had a litigation contingency accrual of approximately $0.3 million and $1.1 million as of December 31, 2024 and 2023, respectively, which is presented within other current liabilities in the consolidated balance sheets.Warranties, Indemnifications, and Contingent ObligationsThe Company’s platform, products, and services are generally warranted to perform substantially as described in the associated documentation and to satisfy defined levels of uptime reliability. The service-level agreements that provide for defined levels