Blend Labs Inc
For the period ended Sep 30, 2024. Filed Nov 6, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 6, 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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Condensed Consolidated Balance Sheets
(In thousands, except per share amounts)
| September 30, 2024 | December 31, 2023 | |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $55,041 | $30,962 |
| Marketable securities and other investments | 61,744 | 105,960 |
| Trade and other receivables, net of allowance for credit losses of $76 and $149, respectively | 15,894 | 18,345 |
| Prepaid expenses and other current assets | 13,722 | 14,569 |
| Total current assets | 146,401 | 169,836 |
| Property and equipment, net | 9,723 | 3,945 |
| Operating lease right-of-use assets | 1,715 | 8,565 |
| Intangible assets, net | 2,085 | 2,108 |
| Deferred contract costs | 2,063 | 2,453 |
| Restricted cash, non-current | 7,294 | 7,291 |
| Other non-current assets | 16,848 | 11,867 |
| Total assets | $186,129 | $206,065 |
| Liabilities, redeemable equity and stockholders’ equity | ||
| Current liabilities: | ||
| Accounts payable | $1,863 | $2,170 |
| Deferred revenue | 19,857 | 8,984 |
| Accrued compensation | 6,046 | 5,562 |
| Other current liabilities | 17,478 | 14,858 |
| Total current liabilities | 45,244 | 31,574 |
| Operating lease liabilities, non-current | 955 | 6,982 |
| Other non-current liabilities | 1,292 | 2,228 |
| Debt, non-current, net | — | 138,334 |
| Total liabilities | 47,491 | 179,118 |
| Commitments and contingencies (Note 8) | ||
| Redeemable noncontrolling interest | 50,747 | 46,190 |
| Series A redeemable convertible preferred stock, par value $0.00001 per share: 200,000 shares authorized as of September 30, 2024 and December 31, 2023, 150 and 0 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively (Note 10) | 137,493 | — |
| 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 September 30, 2024 and December 31, 2023; 255,881 (Class A 252,134, 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 September 30, 2024 and December 31, 2023, respectively | 2 | 2 |
| Additional paid-in capital | 1,333,781 | 1,321,944 |
| Accumulated other comprehensive loss | 765 | 441 |
| Accumulated deficit | (1,384,150) | (1,341,630) |
| Total stockholders’ equity | (49,602) | (19,243) |
| Total liabilities, redeemable equity and stockholders’ equity | $186,129 | $206,065 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.