Company: BLND
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001855747-25-000041
Chunk: 310

Company: Blend Labs, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 2
Chunk 310
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)Net cash provided by (used in) operating activities - continuing operations$20,085 $(3,027)Net cash provided by investing activities - continuing operations3,312 60,621 Net cash used in financing activities - continuing operations(5,176)(3,187)Effect of exchange rates on cash, cash equivalents, and restricted cash— (4)Net increase in cash, cash equivalents, and restricted cash - continuing operations18,221 54,403 Net increase (decrease) in cash, cash equivalents, and restricted cash - discontinued operations221 (841)Net increase in cash, cash equivalents, and restricted cash$18,442 $53,562 

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The Company’s liquidity is not expected to be materially impacted from the disposal of the component reported as discontinued operations.

Cash Provided by (Used in) Operating Activities

Our largest source of operating cash is cash collections from our customers, and our primary uses of cash in operations are for employee-related expenditures, sales and marketing expenses, and third-party hosting costs. 

Net cash provided by (used in) in operating activities for the three months ended March 31, 2025 and 2024 was $20.1 million and $3.0 million, respectively. The change in cash from operations reflects our net loss adjusted for noncash items, such as charges associated with stock-based compensation, depreciation and amortization, gain on investment in equity securities, amortization of deferred contract costs, amortization of operating lease right-of-use assets, and amortization of debt discount and issuance costs on our long-term debt, and changes in operating assets and liabilities. Fluctuations in  operating assets and liabilities are affected primarily by changes in trade and other receivables, prepaid expenses and other current assets, deferred contract costs, accrued compensation, deferred revenue, accounts payable and other liabilities. 

Cash Provided by Investing Activities

Net cash provided by investing activities during the three months ended March 31, 2025 was $3.3 million, which was primarily due to maturities of marketable securities of $18.9 million and sales of marketable securities of $0.8 million, offset by $11.9 million used in the purchase of marketable securities and $4.6 million in additions to property and equipment, primarily related to capitalized internal-use software development costs.

Net cash provided by investing activities during the three months ended March 31, 2024 was $60.6 million, which was primarily due to