Blend Labs Inc. (BLND) Financial Statements (2025 and earlier)

Company Profile

Business Address 7250 REDWOOD BLVD., SUITE 300
NOVATO, CA 94945
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 737 - Computer Programming, Data Processing, And Other Computer Related Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

9/30/2024
Q3
6/30/2024
Q2
3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments112,603128,025136,922244,961265,598306,857
Cash and cash equivalents45,45084,52130,96284,55534,98046,195
Short-term investments67,15343,504105,960160,406230,618260,662
Receivables(91)(128)(149)(198)(171)(296)
Prepaid expense3,1843,9815,2938,22310,8578,490
Contract with customer, asset, after allowance for credit loss1,0592,2321,593407306791
Capitalized contract cost1,0251,0101,0151,2441,6993,051
Other current assets1,2702,2551,8793,1414,4305,155
Other undisclosed current assets23,47022,15023,28325,41126,65126,108
Total current assets:142,520159,525169,836283,189309,370350,156
Noncurrent Assets
Operating lease, right-of-use asset7,5168,3588,5659,41110,24611,055
Property, plant and equipment7,6175,9843,9454,4514,9735,408
Intangible assets, net (including goodwill)2,0992,1032,1082,1142,1192,123
Intangible assets, net (excluding goodwill)2,0992,1032,1082,1142,1192,123
Capitalized contract cost, net2,0202,1972,4532,2332,4671,474
Restricted cash and investments7,2947,2947,2917,29412,3155,358
Other noncurrent assets16,34416,29911,8679,6629,0069,868
Total noncurrent assets:42,89042,23536,22935,16541,12635,286
TOTAL ASSETS:185,410201,760206,065318,354350,496385,442
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities1,0841,8982,1702,1213,1491,932
Accounts payable1,0841,8982,1702,1213,1491,932
Deferred revenue20,83221,5408,98410,05611,97013,046
Other liabilities16,38313,93514,85814,76815,01613,906
Other undisclosed current liabilities3,2255,1865,5629,8674,74111,035
Total current liabilities:41,52442,55931,57436,81234,87639,919
Noncurrent Liabilities
Liabilities, other than long-term debt6,7438,4549,21011,49112,75114,643
Other liabilities1,5712,0562,2283,3563,5154,407
Operating lease, liability5,1726,3986,9828,1359,23610,236
Other undisclosed noncurrent liabilities  138,854138,334219,005218,240217,506
Total noncurrent liabilities:6,743147,308147,544230,496230,991232,149
Total liabilities:48,267189,867179,118267,308265,867272,068
Temporary equity, carrying amount182,61447,65646,19044,75443,36242,028
Equity
Equity, attributable to parent(45,471)(35,763)(19,243)6,29241,26771,346
Common stock222222
Additional paid in capital1,335,9281,326,1871,321,9441,318,0371,311,5391,299,603
Accumulated other comprehensive income (loss)304346441(402)(689)95
Accumulated deficit(1,381,705)(1,362,298)(1,341,630)(1,311,345)(1,269,585)(1,228,354)
Total equity:(45,471)(35,763)(19,243)6,29241,26771,346
TOTAL LIABILITIES AND EQUITY:185,410201,760206,065318,354350,496385,442

Income Statement (P&L) ($ in thousands)

9/30/2024
Q3
6/30/2024
Q2
3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
Revenues40,48034,94736,10440,59142,81537,336
Cost of revenue
(Cost of Goods and Services Sold)
(18,802)(16,806)(16,378)(18,528)(19,322)(21,483)
Gross profit:21,67818,14119,72622,06323,49315,853
Operating expenses(35,017)(39,316)(41,593)(58,261)(60,214)(77,289)
Operating loss:(13,339)(21,175)(21,867)(36,198)(36,721)(61,436)
Nonoperating income (expense)
(Other Nonoperating Income (Expense))
(4,411)5,653(1,498)2,6323,2322,882
Interest and debt expense (1,648)(5,099)(7,085)(8,210)(7,947)(7,569)
Loss from continuing operations before income taxes:(19,398)(20,621)(30,450)(41,776)(41,436)(66,123)
Income tax expense (benefit)(23)(42)74(44)(53)(71)
Net loss:(19,421)(20,663)(30,376)(41,820)(41,489)(66,194)
Net income (loss) attributable to noncontrolling interest14(5)9160258777
Net loss attributable to parent:(19,407)(20,668)(30,285)(41,760)(41,231)(65,417)
Preferred stock dividends and other adjustments(2,661)(1,461)(1,527)(1,452)(1,592)(2,056)
Other undisclosed net loss available to common stockholders, basic(1,527)     
Net loss available to common stockholders, diluted:(23,595)(22,129)(31,812)(43,212)(42,823)(67,473)

Comprehensive Income ($ in thousands)

9/30/2024
Q3
6/30/2024
Q2
3/31/2024
Q1
12/31/2023
Q4
9/30/2023
Q3
6/30/2023
Q2
3/31/2023
Q1
Net loss:(19,421)(20,663)(30,376)(41,820)(41,489)(66,194)
Other undisclosed comprehensive income (loss)(42)(95)843287(784)803
Comprehensive loss:(19,463)(20,758)(29,533)(41,533)(42,273)(65,391)
Comprehensive income (loss), net of tax, attributable to noncontrolling interest14(5)9160258777
Comprehensive loss, net of tax, attributable to parent:(19,449)(20,763)(29,442)(41,473)(42,015)(64,614)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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