Blend Labs Inc
For the period ended Dec 31, 2023. Filed Mar 14, 2024.
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FY2023 · Filed Mar 14, 2024
BLND$1.08+9.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Operations and Comprehensive Income (Loss)
(In thousands, except per share amounts)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Revenue | |||
| Software platform | $101,204 | $113,589 | $127,239 |
| Professional services | 8,345 | 7,835 | 6,944 |
| Title | 47,297 | 113,777 | 100,312 |
| Total revenue | 156,846 | 235,201 | 234,495 |
| Cost of revenue | |||
| Software platform | 22,025 | 30,706 | 30,263 |
| Professional services | 11,065 | 15,504 | 12,812 |
| Title | 42,621 | 99,340 | 75,431 |
| Total cost of revenue | 75,711 | 145,550 | 118,506 |
| Gross profit | 81,135 | 89,651 | 115,989 |
| Operating expenses: | |||
| Research and development | 81,591 | 138,094 | 92,216 |
| Sales and marketing | 60,130 | 85,248 | 84,077 |
| General and administrative | 70,688 | 139,120 | 128,802 |
| Amortization of acquired intangible assets | — | 8,411 | 8,136 |
| Impairment of intangible assets and goodwill | — | 449,680 | — |
| Restructuring | 24,948 | 15,275 | — |
| Total operating expenses | 237,357 | 835,828 | 313,231 |
| Loss from operations | (156,222) | (746,177) | (197,242) |
| Interest expense | (30,811) | (24,790) | (11,279) |
| Other income (expense), net | 7,248 | 4,916 | 493 |
| Loss before income taxes | (179,785) | (766,051) | (208,028) |
| Income tax (expense) benefit | (94) | 2,241 | 38,886 |
| Net loss | (179,879) | (763,810) | (169,142) |
| Less: Net loss (income) attributable to noncontrolling interest | 1,186 | 43,638 | (771) |
| Net loss attributable to Blend Labs, Inc. | (178,693) | (720,172) | (169,913) |
| Less: Accretion of redeemable noncontrolling interest to redemption value | (6,627) | (48,438) | (1,430) |
| Net loss attributable to Blend Labs, Inc. common stockholders | $(185,320) | $(768,610) | $(171,343) |
| Net loss per share attributable to Blend Labs, Inc. common stockholders: | |||
| Basic and diluted | $(0.76) | $(3.28) | $(1.30) |
| Weighted average shares used in calculating net loss per share: | |||
| Basic and diluted | 245,206 | 234,161 | 131,985 |
| Comprehensive loss: | |||
| Net loss | $(179,879) | $(763,810) | $(169,142) |
| Unrealized gain (loss) on marketable securities | 1,030 | (135) | (794) |
| Foreign currency translation gain (loss) | 119 | 235 | (9) |
| Comprehensive loss | (178,730) | (763,710) | (169,945) |
| Less: Comprehensive loss (income) attributable to noncontrolling interest | 1,186 | 43,638 | (771) |
| Comprehensive loss attributable to Blend Labs, Inc. | $(177,544) | $(720,072) | $(170,716) |
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