Company: BLND
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001855747-25-000017
Chunk: 63

Company: Blend Labs, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 8
Chunk 63
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 costs incurred during the application development stage under cloud computing arrangements that are service contracts. The carrying value of the capitalized costs was $0.2 million as of December 31, 2024, of which $0.1 million is presented within prepaid expenses and other current assets, and $0.1 million is presented within other non-current assets on the consolidated balance sheets. The carrying value of the capitalized costs was $0.1 million as of December 31, 2023, which is presented within prepaid expenses and other current assets. Amortization of capitalized implementation costs is recognized on a straight-line basis over the term of the associated hosting arrangement when it is ready for its intended use. Costs related to preliminary project activities and post-implementation activities are expensed as incurred.Other Current LiabilitiesOther current liabilities consisted of the following:December 31, 2024December 31, 2023(In thousands)Accrued expenses$4,910 $4,309 Accrued interest—101Accrued professional fees1,5531,861Accrued connectivity fees3,4893,103Restructuring75—Accrued litigation contingencies2581,105Operating lease liabilities, current portion3,0314,379Total other current liabilities$13,316 $14,858 Other Non-Current LiabilitiesOther non-current liabilities consisted of the following:December 31, 2024December 31, 2023(In thousands)Early exercise liability$— $362 Payroll tax liabilities261347Other liabilities319 1,519 Total other non-current liabilities$580 $2,228 Title and Escrow Loss Reserve 

The Company performs title insurance services and issues title insurance policies as an agent for a third-party title insurance underwriters. The Company may incur a loss if it does not follow the guidelines outlined in the agency agreements. Reserves for estimated future losses on policies issued are established at the time the title insurance revenue is recognized. As of December 31, 2024, title and escrow loss reserves were $0.3 million, which is presented within other non-current liabilities on the consolidated balance sheets. As of December 31, 2023, title and escrow loss reserves were $1.5 million, of which $0.2 million is presented within other current liabilities and $1.3 million is presented within other non-current liabilities on the consolidated balance sheets. 

7. Leases

The Company