Company: BLND
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001855747-25-000092
Chunk: 360

Company: Blend Labs, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 360
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600,000, Class C 600,000) shares authorized  as of September 30, 2025 and December 31, 2024; 260,100 (Class A 256,473, Class B 3,627, Class C 0) and 258,173 (Class A 254,426, Class B 3,747, Class C 0) shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively2 2 Additional paid-in capital1,375,276 1,328,015 Accumulated other comprehensive loss555 602 Accumulated deficit(1,388,318)(1,384,975)Total stockholders’ equity(12,485)(56,356)Total liabilities, redeemable equity and stockholders’ equity$189,566 $178,085   

See accompanying notes to condensed consolidated financial statements

1

Blend Labs, Inc.

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)

(In thousands, except per share amounts)

(Unaudited)Three Months Ended September 30,Nine Months Ended September 30,2025202420252024RevenueSoftware platform$30,459 $31,066 $84,110 $79,277 Professional services2,401 2,038 7,043 6,363 Total revenue32,860 33,104 91,153 85,640 Cost of revenueSoftware platform6,624 6,294 18,993 17,143 Professional services1,780 2,310 5,440 7,614 Total cost of revenue8,404 8,604 24,433 24,757 Gross profit24,456 24,500 66,720 60,883 Operating expenses:Research and development8,522 10,127 23,375 37,226 Sales and marketing7,873 9,473 22,010 28,232 General and administrative12,879 11,482 37,723 35,211 Restructuring93 4,701 840 5,787 Total operating expenses29,367 35,783 83,948 106,456 Loss from operations(4,911)(11,283)(17,228)(45,573)Interest expense— — — (6,747)