Company: BLND
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001855747-25-000041
Chunk: 14

Company: Blend Labs, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 14
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Total other current liabilities$11,467 $9,740 Other Non-Current LiabilitiesOther non-current liabilities consisted of the following:March 31, 2025December 31, 2024(In thousands)Payroll tax liabilities291261Other liabilities— 17 Total other non-current liabilities$291 $278 

6. Leases

The Company leases its facilities under non-cancelable operating leases with various expiration dates. Leases may contain escalating payments.The Company’s total operating lease costs were $0.6 million and $1.4 million for the three months ended March 31, 2025 and 2024, respectively. The Company’s total operating lease costs included variable costs in the amount of $0.5 million for the three months ended March 31, 2025 and 2024. Variable lease costs are primarily comprised of maintenance costs and are determined based on the actual costs incurred during the period. Variable lease payments are expensed in the period incurred and not included in the measurement of lease assets and liabilitiesAs of March 31, 2025 and December 31, 2024, the weighted average remaining operating lease term was 0.5 years and 0.8 years, respectively. The weighted average discount rate used to estimate operating lease liabilities for leases that existed as of March 31, 2025 and December 31, 2024 was 6.8%. Cash paid for amounts included in the measurement of operating lease liabilities was $1.0 million and $1.1 million for the three months ended March 31, 2025 and 2024, respectively. 

15

Blend Labs, Inc.Notes to Condensed Consolidated Financial Statements(Unaudited)

As of March 31, 2025, maturities of operating lease liabilities were as follows:(In thousands)2025$1,745 Thereafter— Total lease payments1,745 Less: imputed interest(32)Total operating lease liabilities$1,713 

7. Commitments and Contingencies

ContingenciesFrom time to time and in the normal course of business, the Company may be subject to various legal matters, such as threatened or pending claims or proceedings. The litigation contingencies, if realized, could have a material negative impact on the Company’s financial condition, results of operations, and cash flows. The Company recognizes a provision for litigation losses when a contingent liability is probable and the amount thereof is estimable. Costs associated with