Company: BLND
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001855747-25-000041
Chunk: 486

Company: Blend Labs, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 486
---
,000, Class C 600,000) shares authorized  as of March 31, 2025 and December 31, 2024; 258,825 (Class A 255,078, Class B 3,747, Class C 0) and 258,173 (Class A 254,426, Class B 3,747, Class C 0) shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively2 2 Additional paid-in capital1,376,752 1,328,015 Accumulated other comprehensive loss565 602 Accumulated deficit(1,394,205)(1,384,975)Total stockholders’ equity(16,886)(56,356)Total liabilities, redeemable equity and stockholders’ equity$188,266 $178,085   

See accompanying notes to condensed consolidated financial statements

1

Blend Labs, Inc.

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)

(In thousands, except per share amounts)

(Unaudited)

Three Months Ended March 31,20252024RevenueSoftware platform$24,260 $21,736 Professional services2,510 2,104 Total revenue26,770 23,840 Cost of revenueSoftware platform5,865 5,175 Professional services1,947 2,623 Total cost of revenue7,812 7,798 Gross profit18,958 16,042 Operating expenses:Research and development7,520 14,183 Sales and marketing7,188 9,755 General and administrative11,224 12,353 Restructuring719 972 Total operating expenses26,651 37,263 Loss from operations(7,693)(21,221)Interest expense— (5,099)Other income (expense), net1,114 5,653 Loss before income taxes(6,579)(20,667)Income tax expense(30)(42)Loss from continuing operations(6,609)(20,709)Net (loss) income from discontinued operations (Note 16)(2,803)46 Net loss(9,412)(20,663)Less: Net loss (income) attributable to noncontrolling interest included in discontinued operations182 (5)Net loss attributable to Blend Labs, Inc.(9,230)(20,668)Less: Accret