Blend Labs Inc

For the period ended Dec 31, 2024. Filed Mar 13, 2025.

About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2024 · Filed Mar 13, 2025

BLND$1.08+9.6%Stored close · as of Nov 10, 2026

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Contents

Consolidated Balance Sheets

(In thousands, except per share amounts)

	December 31, 2024	December 31, 2023
Assets
Current assets:
Cash and cash equivalents	$42,243	$30,962
Marketable securities and other investments	56,233	105,960
Trade and other receivables, net of allowance for credit losses of $80 and $149, respectively	17,365	18,345
Prepaid expenses and other current assets	19,329	14,569
Total current assets	135,170	169,836
Property and equipment, net	12,321	3,945
Operating lease right-of-use assets	1,469	8,565
Intangible assets, net	2,081	2,108
Deferred contract costs	2,868	2,453
Other non-current assets	24,103	19,158
Total assets	$178,012	$206,065
Liabilities, redeemable equity and stockholders’ equity
Current liabilities:
Accounts payable	$2,417	$2,170
Deferred revenue	19,240	8,984
Accrued compensation	3,976	5,562
Other current liabilities	13,316	14,858
Total current liabilities	38,949	31,574
Operating lease liabilities, non-current	801	6,982
Other non-current liabilities	580	2,228
Debt, non-current, net	—	138,334
Total liabilities	40,330	179,118
Commitments and contingencies (Note 8)
Redeemable noncontrolling interest	52,375	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, respectively	2	2
Additional paid-in capital	1,328,015	1,321,944
Accumulated other comprehensive loss	602	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

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.