Company: BLND
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001855747-25-000092
Chunk: 435

Company: Blend Labs, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 435
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 operations.The fair value of the Company’s investments in money market funds classified as Level 1 of the fair value hierarchy is based on real-time quotes for transactions in active exchange markets involving identical assets. The fair value of the Company’s investments in commercial paper and marketable securities classified as Level 2 of the fair value hierarchy is based on quoted market prices for similar instruments.The following table summarizes the stated maturities of the Company’s marketable securities and other investments:

12

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

September 30, 2025December 31, 2024(In thousands)AmortizedCostFair ValueAmortizedCostFair ValueDue within one year$10,489 $10,517 $35,422 $35,477 Due after one year through two years11,661 11,717 20,625 20,756 Total marketable securities and other investments$22,150 $22,234 $56,047 $56,233 The Company evaluates marketable securities in unrealized loss positions to determine whether the impairment is due to credit-related factors or other factors. The Company considers the extent to which the fair value is less than cost, the financial condition and near-term prospects of the security issuer, and the intent and ability of the Company to retain its investment in the security for a period of time sufficient to allow for any anticipated recovery in fair value. The Company does not have an intent to sell any of these securities prior to maturity and believes that it is more likely than not that the Company will not have to sell any such securities before a recovery of cost. The fair value is expected to recover as the securities approach their maturity date. Accordingly, the Company believes that generally the unrealized losses are due to noncredit-related factors, including changes in interest rates and other market conditions, and therefore no impairment charges or allowance for credit losses have been recognized in the Company’s unaudited condensed consolidated statements of operations for the three and nine months ended September 30, 2025 and 2024. As of September 30, 2025 and December 31, 2024, the Company had no securities in an unrealized loss position, nor any securities in a continuous unrealized loss position for twelve months or greater. The Company determines realized gains or losses on the sale of marketable securities based on a specific identification method. The Company recognized interest income from its investment portfolio of $0.9 million and