Company: BLND
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001855747-25-000069
Chunk: 456

Company: Blend Labs, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 456
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ix Months Ended June 30,2025202420252024(In thousands)RevenueSoftware platform$29,391 $26,475 $53,651 $48,211 Professional services2,132 2,221 4,642 4,325 Total revenue31,523 28,696 58,293 52,536 Cost of revenue(1)Software platform6,505 5,674 12,369 10,849 Professional services1,713 2,681 3,660 5,304 Total cost of revenue8,218 8,355 16,029 16,153 Gross profit23,305 20,341 42,264 36,383 Operating expenses:Research and development(1)7,332 12,916 14,853 27,099 Sales and marketing(1)6,950 9,004 14,137 18,759 General and administrative(1)13,619 11,376 24,844 23,729 Restructuring28 114 747 1,086 Total operating expenses27,929 33,410 54,581 70,673 Loss from operations(4,624)(13,069)(12,317)(34,290)Interest expense— (1,648)— (6,747)Other income (expense), net1,018 (4,452)2,132 1,201 Loss before income taxes(3,606)(19,169)(10,185)(39,836)Income tax expense(41)(30)(71)(72)Loss from continuing operations(3,647)(19,199)(10,256)(39,908)Net loss from discontinued operations(2,998)(222)(5,801)(176)Net loss$(6,645)$(19,421)$(16,057)$(40,084)

32

(1)Includes stock-based compensation as follows:Three Months Ended June 30,Six Months Ended June 30,2025202420252024(In thousands)Cost of revenue$116 $106 $286 $262 Research and development(2)1,252 2,567 2,888 5,919 Sales and marketing618 875 1,338 1,853 General and administrative5,576 3,664 9,098 7