Company: BLND
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001855747-25-000069
Chunk: 426

Company: Blend Labs, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 426
---
294 $2,539 Contract liabilities—currentDeferred revenue, current$(32,746)$(19,240)There were no long-term contract assets or deferred revenue as of June 30, 2025 and December 31, 2024.During the three months ended June 30, 2025 and 2024, the Company recognized $11.3 million and $7.8 million, respectively, of revenue that was included in the deferred revenue balance at the beginning of the respective periods. During the six months ended June 30, 2025 and 2024, the Company recognized $11.1 million and $5.7 million, respectively, of revenue that was included in the deferred revenue balance at the beginning of the respective periods.During the three and six months ended June 30, 2025, the Company recognized revenue of approximately $(0.3) million and $0.6 million, respectively, related to performance obligations satisfied in previous periods. During the three and six months ended June 30, 2024, the Company recognized revenue of approximately $1.0 million and $1.1 million, respectively, related to performance obligations satisfied in previous periods. The revenue recognized from performance obligations satisfied in the prior periods primarily related to changes in the transaction price, including changes in the estimate of variable consideration. 

10

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

Remaining Performance ObligationsAs of June 30, 2025, the aggregate amount of the transaction price allocated to the remaining performance obligations was $190.4 million. These remaining performance obligations represent commitments in customer contracts for services expected to be provided in the future that have not been recognized as revenue. The expected timing of revenue recognition for these commitments is largely driven by the Company’s ability to deliver in accordance with relevant contract terms and when the Company’s customers utilize services, which could affect the Company’s estimate of when the Company expects to recognize revenue for these remaining performance obligations. The Company expects to recognize approximately half of the remaining performance obligations as revenue over the next 12 months. The Company expects the majority of non-current remaining performance obligations to be recognized over the next 13 to 24 months.Deferred Contract CostsAs of June 30, 2025 and December 31, 2024, total unamortized deferred contract costs were $5.1 million and $4.2 million, respectively, of which $1.7 million and $1.3