Company: BLND
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001855747-25-000069
Chunk: 434

Company: Blend Labs, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 434
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 2024, respectively. Variable lease costs are primarily comprised of maintenance costs and are determined based on the 

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

actual costs incurred during the period. Variable lease payments are expensed in the period incurred and not included in the measurement of lease assets and liabilities.As of June 30, 2025 and December 31, 2024, the weighted average remaining operating lease term was 3 years and 0.8 years, respectively. The weighted average discount rate used to estimate operating lease liabilities for leases that existed as of June 30, 2025 and December 31, 2024 was 9.4% and 6.8%, respectively. Cash paid for amounts included in the measurement of operating lease liabilities was $1.1 million for both the three months ended June 30, 2025 and 2024. Cash paid for amounts included in the measurement of operating lease liabilities was $2.1 million and $2.2 million for the six months ended June 30, 2025 and 2024, respectively. As of June 30, 2025, maturities of operating lease liabilities were as follows:(In thousands)2025$920 2026417 2027438 2028459 2029481 Thereafter149 Total lease payments2,864 Less: imputed interest(485)Total operating lease liabilities$2,379 

7. Commitments and Contingencies

ContingenciesFrom time to time and in the normal course of business, the Company may be subject to various legal matters, such as threatened or pending claims or proceedings. The litigation contingencies, if realized, could have a material negative impact on the Company’s financial condition, results of operations, and cash flows. The Company recognizes a provision for litigation losses when a contingent liability is probable and the amount thereof is estimable. Costs associated with the Company's involvement in legal proceedings are expensed as incurred. Amounts accrued for litigation contingencies are based on the Company’s best estimates, assessments of the likelihood of damages, and the advice of counsel and often result from a series of judgments about future events and uncertainties that rely heavily on estimates and assumptions, therefore the actual settlement amounts could differ from the estimated contingency accrual and result in additional charges or reversals in future periods.Warranties, Indemnifications, and Contingent ObligationsThe Company’s platform, products,