Company: BLND
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001855747-25-000017
Chunk: 88

Company: Blend Labs, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 8
Chunk 88
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 to conform to current period presentation. The CODM assesses segment performance by using each segment’s gross profit. The Company does not evaluate performance or allocate resources based on segment assets, and therefore, such information is not presented.The CODM uses segment revenue and gross profit in the budget and forecasting process as well as in periodic financial reviews. The CODM considers budget-to-actual variances on a monthly basis to analyze historical performance of the segments. The CODM also considers revenue and gross margin growth when making decisions about capital and resource allocation between the segments to optimally support the Company’s strategic goals.The following tables provide information about each reportable segment:Year Ended December 31, 2024Blend PlatformTitleConsolidated(in thousands)RevenueSoftware platform$106,914 $— $106,914 Professional services8,848 — 8,848 Title— 46,257 46,257 Total revenue$115,762 $46,257 $162,019 Cost of revenueSoftware platform$23,107 $— $23,107 Professional services9,434 — 9,434 Title— 38,934 38,934 Total cost of revenue$32,541 $38,934 $71,475 Gross profit$83,221 $7,323 $90,544 

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Blend Labs, Inc.Notes to Consolidated Financial Statements

Year Ended December 31, 2023Blend PlatformTitleConsolidated(in thousands)RevenueSoftware platform$101,204 $— $101,204 Professional services8,345 — 8,345 Title— 47,297 47,297 Total revenue$109,549 $47,297 $156,846 Cost of revenueSoftware platform$22,025 $— $22,025 Professional services11,065 — 11,065 Title— 42,621 42,621 Total cost of revenue$33,090 $42,621 $75,711 Gross profit$76,459 $4,676 $81,135 Year Ended December 31, 2022Blend PlatformTitleConsolidated(in thousands)RevenueSoftware platform$113,589 $— $113,589 Professional services7,835 — 7,835 Title— 113,777 113,777 Total revenue$121,424