Company: BLND
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001855747-25-000017
Chunk: 26

Company: Blend Labs, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 8
Chunk 26
---
) Redeemable noncontrolling interest52,375 46,190 Series A redeemable convertible preferred stock, par value $0.00001 per share: 200,000 shares authorized as of December 31, 2024 and 2023, 150  and 0 shares issued and outstanding as of December 31, 2024 and 2023, respectively (Note 10)141,663 — Stockholders’ equity:Class A, Class B and Class C Common Stock, par value $0.00001 per share: 3,000,000 (Class A 1,800,000, Class B 600,000, Class C 600,000) shares authorized  as of December 31, 2024 and 2023; 258,173 (Class A 254,426, Class B 3,747, Class C 0) and 249,910 (Class A 240,262, Class B 9,648, Class C 0) shares issued and outstanding as of December 31, 2024 and 2023, respectively2 2 Additional paid-in capital1,328,015 1,321,944 Accumulated other comprehensive loss602 441 Accumulated deficit(1,384,975)(1,341,630)Total stockholders’ equity(56,356)(19,243)Total liabilities, redeemable equity and stockholders’ equity$178,012 $206,065   

See accompanying notes to consolidated financial statements

76

Blend Labs, Inc.

Consolidated Statements of Operations and Comprehensive Income (Loss)

(In thousands, except per share amounts)

Year Ended December 31,202420232022RevenueSoftware platform$106,914 $101,204 $113,589 Professional services8,848 8,345 7,835 Title46,257 47,297 113,777 Total revenue162,019 156,846 235,201 Cost of revenueSoftware platform23,107 22,025 30,706 Professional services9,434 11,065 15,504 Title38,934 42,621 99,340 Total cost of revenue71,475 75,711 145,550 Gross profit90,544 81,135 89,651 Operating expenses:Research and development46,087 81,591 138,094 Sales