Company: BLND
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001855747-25-000041
Chunk: 488

Company: Blend Labs, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 488
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 Unrealized gain on investments in marketable securities— — — — — — 6 — 6 Foreign currency translation gain— — — — — — (43)— (43)Accretion of redeemable noncontrolling interest to redemption value1,254 — — — — (1,254)— — (1,254)Accretion of Series A redeemable convertible preferred stock to redemption value— — 4,202 — — (4,202)— — (4,202)Share repurchases— — — (923)— (3,076)— — (3,076)Reclassification of noncontrolling interest to equity, net of noncash consideration received(53,447)— — — — 52,675 — — 52,675 Net loss(182)— — — — — — (9,230)(9,230)Balances as of March 31, 2025    $— 150 $145,865 258,825 $2 $1,376,752 $565 $(1,394,205)$(16,886)

See accompanying notes to condensed consolidated financial statements 

3

Blend Labs, Inc.

Condensed Consolidated Statements of Redeemable Noncontrolling Interest, Series A Redeemable Convertible Preferred Stock and Stockholders’ Equity (Continued)

(In thousands)

(Unaudited)

Three Months Ended March 31, 2024Redeemable noncontrolling interest - held for sale from discontinued operationsCommon StockAdditionalPaid-InCapitalAccumulatedOtherComprehensiveIncome (Loss)AccumulatedDeficitTotalStockholders’EquitySharesAmountBalances as of December 31, 2023    $46,190 249,910 $2 $1,321,944 $441 $(1,341,630)$(19,243)Issuance of common stock upon exercise of stock options, net of repurchases— 410 — 619 — — 619 Vesting of early exercised stock options— — — 184 — — 184 Vesting of restricted stock units— 3,257 — — — — — Shares withheld related to net share settlement of equity awards