Company: BLND
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001855747-25-000017
Chunk: 55

Company: Blend Labs, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 8
Chunk 55
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 within prepaid expenses and other current assets and $2.9 million and $2.5 million was recorded within deferred contract costs, non-current, on the consolidated balance sheets as of December 31, 2024 and 2023, respectively. The amortization of deferred contract costs was $1.1 million, $3.0 million and $4.6 million for the years ended December 31, 2024, 2023 and 2022, respectively, and is included in sales and marketing expense in the accompanying consolidated statements of operations and comprehensive income (loss).

4. Investments and Fair Value Measurements

The carrying amount, unrealized gain and loss, and fair value of investments by major security type were as follows:December 31, 2024AmortizedCostGrossUnrealized GainFair ValueFair Value Hierarchy(In thousands)Cash equivalents:  Money market funds$7,112 $— $7,112 Level 1Commercial paper19,162 — 19,162 Level 2Total cash equivalents26,274 — 26,274 Marketable securities:U.S. treasury and agency securities31,160 92 31,252 Level 2Commercial paper12,244 — 12,244 Level 2Debt securities12,643 94 12,737 Level 2Total marketable securities56,047 186 56,233 Restricted cash, current:Money market funds5,023 — 5,023 Level 1Restricted cash, non-current:Money market funds1,938 — 1,938 Level 1Certificates of deposit333 — 333 Level 2Total restricted cash7,294 — 7,294 Total$89,615 $186 $89,801 

96

Blend Labs, Inc.Notes to Consolidated Financial Statements

December 31, 2023AmortizedCostGrossUnrealized GainGrossUnrealized LossFair ValueFair Value Hierarchy(In thousands)Cash equivalents:   Money market funds$6,804 $— $— $6,804 Level 1Commercial paper14,932 — — 14,932 Level 2Total cash equivalents21,736 — — 21,736 Marketable securities:U.S. treasury and agency securities33,225 8 (71)33,162 Level 2De