Company: BLND
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001855747-25-000092
Chunk: 14

Company: Blend Labs, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 14
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 additional capital when desired and at reasonable rates, our business, results of operations, and financial condition would be adversely affected. See the section titled “Risk Factors—Risks Related to Our Business and Operations—We may require additional capital to support business growth, and this capital might not be available on acceptable terms, if at all.”

Cash Flows 

The following table summarizes our cash flows for the periods indicated:

Nine Months Ended September 30,20252024(In thousands)Net cash provided by (used in) operating activities - continuing operations$12,060 $(5,023)Net cash provided by investing activities - continuing operations19,972 47,304 Net cash used in financing activities - continuing operations(15,026)(14,739)Effect of exchange rates on cash, cash equivalents, and restricted cash— (5)Net increase in cash, cash equivalents, and restricted cash - continuing operations17,006 27,537 Net decrease in cash, cash equivalents, and restricted cash - discontinued operations(1,710)(3,455)Net increase in cash, cash equivalents, and restricted cash$15,296 $24,082 

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The Company’s liquidity is not expected to be materially impacted from the disposal of the component reported as discontinued operations.

Cash Provided by (Used in) Operating Activities

Our largest source of operating cash is cash collections from our customers, and our primary uses of cash in operations are for employee-related expenditures, sales and marketing expenses, and third-party hosting costs. 

Net cash provided by operating activities for the nine months ended September 30, 2025 was $12.1 million and net cash used in operating activities for the nine months ended September 30, 2024 was $5.0 million. The change in cash from operations reflects our net loss adjusted for noncash items, such as charges associated with stock-based compensation, depreciation and amortization, gain on investment in equity securities, amortization of deferred contract costs, amortization of operating lease right-of-use assets, and amortization of debt discount and issuance costs on our long-term debt, and changes in operating assets and liabilities. Fluctuations in operating assets and liabilities are affected primarily by changes in trade and other receivables, prepaid expenses and other current assets, deferred contract costs, accrued compensation, deferred revenue, accounts payable and other liabilities. 

Cash Provided by Investing Activities

Net cash used in investing activities during the nine months ended September 30, 2025 was $20.0