Company: BLND
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001855747-25-000092
Chunk: 364

Company: Blend Labs, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 364
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— — — 601 — 712 — — 712 Vesting of restricted stock units— — — 1,703 — — — — — Shares withheld related to net share settlement of equity awards— — — (665)— (1,886)— — (1,886)Stock-based compensation— — — — — 8,264 — — 8,264 Unrealized loss on investments in marketable securities— — — — — — (62)— (62)Foreign currency translation gain— — — — — — 103 — 103 Accretion of Series A redeemable convertible preferred stock to redemption value— — 4,558 — — (4,558)— — (4,558)Share repurchases— — — (1,590)— (5,025)— — (5,025)Net income— — — — — — — 12,532 12,532 Balances as of September 30, 2025    $— 150 $154,799 260,100 $2 $1,375,276 $555 $(1,388,318)$(12,485)

See accompanying notes to condensed consolidated financial statements 

3

Blend Labs, Inc.

Condensed Consolidated Statements of Redeemable Noncontrolling Interest, Series A Redeemable Convertible Preferred Stock and Stockholders’ Equity (Continued)

(In thousands)

(Unaudited)

Three and Nine Months Ended September 30, 2024Redeemable noncontrolling interest - held for sale from discontinued operationsSeries A Redeemable Convertible Preferred StockCommon StockAdditionalPaid-InCapitalAccumulatedOtherComprehensiveIncome (Loss)AccumulatedDeficitTotalStockholders’EquitySharesAmountSharesAmountBalances as of December 31, 2023    $46,190 — $— 249,910 $2 $1,321,944 $441 $(1,341,630)$(19,243)Issuance of common stock upon exercise of stock options, net of repurchases— — — 410 — 619 — — 619 Vesting of early exercised stock options