Company: BLND
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001855747-25-000017
Chunk: 57

Company: Blend Labs, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 8
Chunk 57
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620 Due after one year through two years20,625 20,756 39,069 39,340 Total marketable securities and other investments$56,047 $56,233 $105,864 $105,960 

97

Blend Labs, Inc.Notes to Consolidated Financial Statements

All asset-backed securities have a maturity date in excess of one year from the balance sheet date.The Company evaluates marketable securities in unrealized loss positions to determine whether the impairment is due to credit-related factors or other factors. The Company considers the extent to which the fair value is less than cost, the financial condition and near-term prospects of the security issuer, and the intent and ability of the Company to retain its investment in the security for a period of time sufficient to allow for any anticipated recovery in fair value. The Company does not have an intent to sell any of these securities prior to maturity and believes that it is more likely than not that the Company will not have to sell any such securities before a recovery of cost. The fair value is expected to recover as the securities approach their maturity date. Accordingly, the Company believes that generally the unrealized losses are due to noncredit-related factors, including changes in interest rates and other market conditions, and therefore no impairment charges or allowance for credit losses have been recognized in the Company’s consolidated statements of operations for the years ended December 31, 2024 and 2023. As of December 31, 2024 and 2023, the number of investment positions that are in an unrealized loss position were 0 and 28, respectively. As of December 31, 2024, the Company had no securities that have been in a continuous unrealized loss position for twelve months or greater. As of December 31, 2023, the Company had four securities, with an aggregate fair value of $16.0 million, that have been in a continuous unrealized loss position for twelve months or greater. The Company determines realized gains or losses on the sale of marketable securities based on a specific identification method. The Company recognized interest income from its investment portfolio of $5.3 million, $11.4 million  and $2.4 million for the years ended December 31, 2024, 2023 and 2022, respectively. Accrued interest receivable related to marketable securities is  $0.4 million and $0.9 million, as of December 31, 2024 and 2023