Company: BLND
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001855747-25-000017
Chunk: 82

Company: Blend Labs, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 8
Chunk 82
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 to the executive transition costs for the years ended December 31, 2022 and December 31, 2024.The reconciliation of the restructuring liability balances is as follows:(In thousands)Restructuring liability as of December 31, 2022$1,614 January 2023 Plan charge14,025 Executive transition costs1,107 August 2023 Plan charge (excluding accelerated amortization of prepaid cash bonuses)7,685 Settlements(24,331)Restructuring liability as of December 31, 2023$100 January 2024 Plan charge1,289 September 2024 Plan charge1,632 Settlements(2,946)Restructuring liability as of December 31, 2024$75 

14. Income Taxes

The total provision for income taxes consisted of the following:

114

Blend Labs, Inc.Notes to Consolidated Financial Statements

Year Ended December 31,202420232022(in thousands)Current:Federal$— $— $— State64 41 355 Foreign11 87 268 Total current75 128 623 Deferred:Federal$— $— $(1,831)State— — (1,033)Foreign34 (34)— Total deferred34 (34)(2,864)Total provision for income taxes$109 $94 $(2,241)The following summarizes the differences between the income tax provision recorded by the Company and the amount computed by applying the statutory federal income tax rate of 21% to loss before income tax for the years ended December 31, 2024, 2023 and 2022:Year Ended December 31,202420232022(in thousands)Tax benefit at federal statutory rate$(8,955)$(37,524)$(151,504)State taxes, net of federal benefit(127)481 (677)Research and other credits(2,771)(3,774)(3,798)Valuation allowance release related to Title365 purchase price allocation— — — Change in valuation allowance8,850 28,681 98,510 Section 162(m) adjustment4,830 2,836 4,230 Non-deductible transaction costs— — — Stock-based compensation(2,009)9,380 (64)Goodwill Impairment— — 60,318 Noncontrolling