Company: BLND
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001855747-25-000092
Chunk: 15

Company: Blend Labs, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 15
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 million, which was primarily due to the sale of available-for-sale securities of $20.8 million and maturities of marketable securities of $44.2 million, offset by $30.5 million used in the purchase of marketable securities and $10.6 million in additions to property and equipment, primarily related to capitalized internal-use software development costs, and a $4.0 million investment in non-marketable equity securities.

Net cash provided by investing activities during the nine months ended September 30, 2024 was $47.3 million, which was primarily due to sales of marketable securities of $100.3 million, maturities of marketable securities of $41.9 million, proceeds from sale of insurance business of $9.1 million, offset by $96.4 million used in the purchase of marketable securities and $7.2 million in additions to property and equipment related to capitalized internal-use software development costs.

Cash Used in Financing Activities

Net cash used in financing activities for the nine months ended September 30, 2025 was $15.0 million, primarily consisting of payment of taxes related to net share settlement of equity awards of $7.4 million and $9.1 million related to share repurchases, offset by $1.5 million proceeds from the exercises of stock options.

Net cash used in financing activities for the nine months ended September 30, 2024 was $14.7 million, primarily consisting of $144.5 million repayment of long-term debt, $9.5 million payment of issuance costs related to the Series A Preferred Stock and the Haveli Warrant, payment of taxes related to net share settlement of equity awards of $11.0 million, offset by $149.4 million proceeds from the issuance of Series A Preferred Stock and the Haveli Warrant, and proceeds from the exercises of stock options of $0.9 million.

Contingent Obligations

As of September 30, 2025, we did not have relationships with unconsolidated entities or financial partnerships, such as structured finance or special purpose entities that were established for the purpose of facilitating off-balance sheet arrangements or other purposes.

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Critical Accounting Estimates

Our unaudited condensed consolidated financial statements and the related notes thereto included elsewhere in this Quarterly Report on Form 10-Q are prepared in accordance with the U.S. generally accepted accounting principles (“U.S. GAAP”). The preparation of our unaudited condensed consolidated financial statements in accordance