Company: BLND
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001855747-25-000092
Chunk: 434

Company: Blend Labs, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 434
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 under the strategic partnership agreement was $1.0 million as of September 30, 2025.

11

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

4. Investments and Fair Value Measurements

The carrying amount, unrealized gain and loss, and fair value of investments by major security type were as follows:September 30, 2025AmortizedCostGrossUnrealized GainFair ValueFair Value Hierarchy(In thousands)Cash equivalents:  Money market funds$50,151 $— $50,151 Level 1Total cash equivalents50,151 — 50,151 Marketable securities:U.S. treasury and agency securities22,150 84 22,234 Level 2Total marketable securities22,150 84 22,234 Restricted cash, current:Money market funds5,023 — 5,023 Level 1Total$77,324 $84 $77,408 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 September 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. The Company has classified its investments as current based on the nature of the investments and their availability for use in current