Company: BLND
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001855747-25-000092
Chunk: 463

Company: Blend Labs, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 463
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)Software 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 development(1)8,522 10,127 23,375 37,226 Sales and marketing(1)7,873 9,473 22,010 28,232 General and administrative(1)12,879 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)Other income (expense), net17,348 10,673 19,480 11,874 Income (loss) before income taxes12,437 (610)2,252 (40,446)Income tax expense(27)(21)(98)(93)Income (loss) from continuing operations12,410 (631)2,154 (40,539)Net income (loss) from discontinued operations122 (1,996)(5,679)(2,172)Net income (loss)$12,532 $(2,627)$(3,525)$(42,711)

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(1)Includes stock-based compensation as follows:Three Months Ended September 30,Nine Months Ended September 30,2025202420252024(In thousands)Cost of revenue$123 $104 $409 $366 Research and development(2)1,630 2,169 4,518 8,088 Sales and marketing699 862 2,037 2,715 General and administrative5,314 3,499 14,412 10,722 Total stock-based compensation$7,766 $6,634 $21,376 $21,891 

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(2) Net of $0.6 million and $2.9 million of additions to capitalized internal-use software for the three and nine months ended September 30, 2025,