Company: BLND
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001855747-25-000069
Chunk: 381

Company: Blend Labs, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 381
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 Total other non-current liabilities$1,795 $278 

6. Leases

The Company leases its facilities under non-cancelable operating leases with various expiration dates. Leases may contain escalating payments.The Company’s total operating lease costs were $0.6 million and $1.4 million for the three months ended June 30, 2025 and 2024, respectively. The Company’s total operating lease costs were $1.2 million and $2.8 million for the six months ended June 30, 2025 and 2024, respectively. The Company’s total operating lease costs included variable costs in the amount of $0.4 million and $0.5 million for the three months ended June 30, 2025 and 2024, respectively, and $0.9 million and $1.0 million for the six months ended June 30, 2025 and 2024, respectively. Variable lease costs are primarily comprised of maintenance costs and are determined based on the 

15

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

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 June 30, 2025 and December 31, 2024, the weighted average remaining operating lease term was 3 years and 0.8 years, respectively. The weighted average discount rate used to estimate operating lease liabilities for leases that existed as of June 30, 2025 and December 31, 2024 was 9.4% and 6.8%, respectively. Cash paid for amounts included in the measurement of operating lease liabilities was $1.1 million for both the three months ended June 30, 2025 and 2024. Cash paid for amounts included in the measurement of operating lease liabilities was $2.1 million and $2.2 million for the six months ended June 30, 2025 and 2024, respectively. As of June 30, 2025, maturities of operating lease liabilities were as follows:(In thousands)2025$920 2026417 2027438 2028459 2029481 Thereafter149 Total lease payments2,864 Less: imputed interest(485)Total operating lease liabilities$2,379 

7. Commitments and Contingencies

ContingenciesFrom time to time and in the