Company: BLND
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001855747-25-000069
Chunk: 15

Company: Blend Labs, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 15
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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 six months ended June 30, 2025 was $14.8 million and net cash used in operating activities for the six months ended June 30, 2024 was $6.3 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 (Used in) Provided by Investing Activities

Net cash used in investing activities during the six months ended June 30, 2025 was $7.5 million, which was primarily due to $23.7 million used in the purchase of marketable securities and $8.3 million in additions to property and equipment, primarily related to capitalized internal-use software development costs, and a $4.0 million investment in non-marketable equity securities, offset by maturities of marketable securities of $27.7 million.

Net cash provided by investing activities during the six months ended June 30, 2024 was $35.6 million, which was primarily due to sales of marketable securities of $100.3 million and maturities of marketable securities of $15.6 million, offset by $76.5 million used in the purchase of marketable securities and $3.8 million in additions to property and equipment related to capitalized internal-use software development costs.

Cash Used in Financing Activities

Net cash used in financing activities for the six months ended June 30, 2025 was $8.8 million, primarily consisting of payment of taxes related to net share settlement of equity awards of $5.5 million and $4.1 million related to share repurchases, offset by $0.8 million proceeds from the exercises of stock options.

Net cash used in financing activities for the six months ended June 30, 2024 was $10.5