Company: BLND
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001855747-25-000069
Chunk: 358

Company: Blend Labs, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 358
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 B 600,000, Class C 600,000) shares authorized  as of June 30, 2025 and December 31, 2024; 260,051 (Class A 256,424, 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 June 30, 2025 and December 31, 2024, respectively2 2 Additional paid-in capital1,377,769 1,328,015 Accumulated other comprehensive loss514 602 Accumulated deficit(1,400,850)(1,384,975)Total stockholders’ equity(22,565)(56,356)Total liabilities, redeemable equity and stockholders’ equity$183,072 $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 June 30,Six Months Ended June 30,2025202420252024RevenueSoftware platform$29,391 $26,475 $53,651 $48,211 Professional services2,132 2,221 4,642 4,325 Total revenue31,523 28,696 58,293 52,536 Cost of revenueSoftware platform6,505 5,674 12,369 10,849 Professional services1,713 2,681 3,660 5,304 Total cost of revenue8,218 8,355 16,029 16,153 Gross profit23,305 20,341 42,264 36,383 Operating expenses:Research and development7,332 12,916 14,853 27,099 Sales and marketing6,950 9,004 14,137 18,759 General and administrative13,619 11,376 24,844 23,729 Restructuring28 114 747 1,086 Total operating expenses27,929 33,410 54,581 70,673 Loss from operations(4,624)(13,069)(12,317)(34,290)Interest expense— (1,648)— (6,