Company: BLND
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001855747-25-000092
Chunk: 367

Company: Blend Labs, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 367
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2 $1,333,781 $765 $(1,384,150)$(49,602)

See accompanying notes to condensed consolidated financial statements

4

Blend Labs, Inc.

Condensed Consolidated Statements of Cash Flows

(In thousands)

(Unaudited)

Nine Months Ended September 30,20252024Operating activitiesNet loss$(3,525)$(42,711)Less: Net loss from discontinued operations(5,679)(2,172)Net income (loss) from continuing operations2,154(40,539)Adjustments to reconcile net loss to net cash used in operating activities:Stock-based compensation21,37621,891Depreciation and amortization2,0881,066Amortization of deferred contract costs1,175779Amortization of debt discount and issuance costs—690Amortization of operating lease right-of-use assets3501,975Accelerated amortization of right-of-use asset in connection with lease abandonment—2,992Gain on investment in equity securities(16,580)(4,417)Loss on extinguishment of debt—5,476Gain on sale of insurance business—(9,213)Other(355)(1,603)Changes in operating assets and liabilities:Trade and other receivables2,3454,902Prepaid expenses and other assets, current and non-current(4,709)292Deferred contract costs, non-current(268)390Accounts payable(848)(684)Deferred revenue5,31310,873Accrued compensation966(309)Operating lease liabilities(2,633)(1,676)Other liabilities, current and non-current1,6862,092Net cash provided by (used in) operating activities - continuing operations12,060(5,023)Net cash used in operating activities - discontinued operations(1,528)(3,435)Net cash provided by (used in) operating activities10,532(8,458)Investing activitiesPurchases of marketable securities(30,490)(96,422)Sale of available-for-sale securities20,827100,327Maturities of marketable securities44,22741,850Additions to property, equipment and internal-use software development costs(10,592)(7,243)Other—(283)Proceeds from sale of insurance business—9,075Investment in non-marketable equity securities(4,000)—Net cash provided by investing activities - continuing operations19,97247,304Net cash used in investing activities