Company: BLND
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001855747-25-000092
Chunk: 440

Company: Blend Labs, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 8
Chunk 440
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 $0.5 million and $1.4 million for the three months ended September 30, 2025 and 2024, respectively. The Company’s total operating lease costs were $1.7 million and $4.2 million for the nine months ended September 30, 2025 and 2024, respectively. The Company’s total operating lease costs included variable costs in the amount of $0.3 million and $0.6 million for the three months ended September 30, 2025 and 2024, respectively, and $1.2 million and $1.6 million for the nine months ended September 30, 2025 and 2024, respectively. Variable lease costs are primarily comprised of maintenance costs and are determined based on the 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 September 30, 2025 and December 31, 2024, the weighted average remaining operating lease term was 4.3 years and 0.8 years, respectively. The weighted average discount rate used to estimate operating lease liabilities for leases that existed as of September 30, 2025 and December 31, 2024 was 10.6% and 6.8%, respectively. Cash paid for amounts included in the measurement of operating lease liabilities was $1.0 million for both the three months ended September 30, 2025 and 2024. Cash paid for amounts included in the measurement of operating lease liabilities was $3.1 million and $3.2 million for the nine months ended September 30, 2025 and 2024, respectively. 

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

As of September 30, 2025, maturities of operating lease liabilities were as follows:(In thousands)2025$157 2026402 2027421 2028442 2029463 Thereafter144 Total lease payments2,029 Less: imputed interest(418)Total operating lease liabilities$1,611 

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