Company: BLND
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001855747-25-000092
Chunk: 439

Company: Blend Labs, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 439
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 (loss). There were no impairments for the three and nine months ended September 30, 2025 and 2024.During the second quarter of 2025, the Company made a cash investment in exchange for Series A Preferred Units in a privately-held company. The investment in the equity securities without readily determinable fair value is measured at cost, less impairment, if any, plus or minus observable price changes in orderly transactions of an identical or similar instrument of the same issuer. As of September 30, 2025, the carrying value of this investment was $4.0 million. No observable price changes have been identified for this investment to date. Cloud Computing ArrangementsThe Company capitalizes certain implementation costs incurred during the application development stage under cloud computing arrangements that are service contracts. The carrying value of the capitalized costs was $0.2 million as of September 30, 2025 and December 31, 2024, of which $0.1 million is presented within prepaid expenses and other current assets, and $0.1 million is presented within other non-current assets on the unaudited condensed consolidated balance sheets for each period. Amortization of capitalized implementation costs is recognized on a straight-line basis over the term of the associated hosting arrangement when it is ready for its intended use. Costs related to preliminary project activities and post-implementation activities are expensed as incurred.

15

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

Other Current LiabilitiesOther current liabilities consisted of the following:September 30, 2025December 31, 2024(In thousands)Accrued expenses$3,255 $2,116 Accrued professional fees1,4491,392Accrued connectivity fees3,6913,489Accrued restructuring costs8075Accrued litigation contingencies1008Operating lease liabilities, current portion3052,660Other355 $— Total other current liabilities$9,235 $9,740 Other Non-Current LiabilitiesOther non-current liabilities consisted of the following:September 30, 2025December 31, 2024(In thousands)Operating lease liabilities, non-current$1,306 $— Other114278Total other non-current liabilities$1,420 $278 

6. Leases

The Company leases its facilities under non-cancelable operating leases with various expiration dates. Leases may contain escalating payments.The Company’s total operating lease costs were