Company: BLND
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001855747-25-000069
Chunk: 6

Company: Blend Labs, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 2
Chunk 6
---
5,801)(176)Net loss$(6,645)$(19,421)$(16,057)$(40,084)

32

(1)Includes stock-based compensation as follows:Three Months Ended June 30,Six Months Ended June 30,2025202420252024(In thousands)Cost of revenue$116 $106 $286 $262 Research and development(2)1,252 2,567 2,888 5,919 Sales and marketing618 875 1,338 1,853 General and administrative5,576 3,664 9,098 7,223 Total stock-based compensation$7,562 $7,212 $13,610 $15,257 

____________

(2) Net of $1.1 million and $2.3 million of additions to capitalized internal-use software for the three and six months ended June 30, 2025, and $0.5 million and $1.1 million for the three and six months ended June 30, 2024.

Three Months Ended June 30,Six Months Ended June 30,2025202420252024(as a % of revenue)*RevenueSoftware platform93 %92 %92 %92 %Professional services7 8 8 8 Total revenue100 100 100 100 Cost of revenueSoftware platform21 20 21 21 Professional services5 9 6 10 Total cost of revenue26 29 27 31 Gross margin74 71 73 69 Operating expenses:Research and development23 45 25 52 Sales and marketing22 31 24 36 General and administrative43 40 43 45 Restructuring— — 1 2 Total operating expenses88 116 94 135 Loss from operations(15)(46)(21)(65)Interest expense— (6)— (13)Other income (expense), net3 (16)4 2 Loss before income taxes(11)(67)(17)(76)Income tax (expense) benefit— — — — Loss from continuing operations(12)(67)(18)(76)Net (loss) income from discontinued operations, net of tax(10)(1)(10)— Net loss(21)%(68)%(28)%(76)%

____________

*Certain