Company: BLND
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001855747-25-000069
Chunk: 375

Company: Blend Labs, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 375
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June 30, 2025AmortizedCostGrossUnrealized GainGrossUnrealized LossFair ValueFair Value Hierarchy(In thousands)Cash equivalents:  Money market funds$10,028 $— $— $10,028 Level 1Commercial paper17,450 — — 17,450 Level 2Total cash equivalents27,478 — — 27,478 Marketable securities:U.S. treasury and agency securities26,065 72 — 26,137 Level 2Commercial paper12,103 — — 12,103 Level 2Debt securities13,487 75 (1)13,561 Level 2Total marketable securities51,655 147 (1)51,801 Restricted cash, current:Money market funds5,023 — — 5,023 Level 1Total$84,156 $147 $(1)$84,302 

11

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

December 31, 2024AmortizedCostGrossUnrealized GainFair ValueFair Value Hierarchy(In thousands)Cash equivalents:   Money market funds$7,112 $— $7,112 Level 1Commercial paper19,162 — 19,162 Level 2Total cash equivalents26,274 — 26,274 Marketable securities:U.S. treasury and agency securities31,160 92 31,252 Level 2Commercial paper12,244 — 12,244 Level 2Debt securities12,643 94 12,737 Level 2Total marketable securities56,047 186 56,233 Restricted cash, current:Money market funds5,023 — 5,023 Level 1Total$87,344 $186 $87,530 Restricted cash that is not available for use in operations consisted of $5.0 million collateral for standby letters of credit related to the Company’s office lease facilities as of June 30, 2025 and December 31, 2024.Marketable securities consist primarily of U.S. treasury and agency securities, commercial paper, and corporate debt securities. The Company classifies its marketable securities as available-for-sale securities at the time of purchase and reevaluates such classification at each balance sheet date.