
	Three months ended June 30, 2025
	As Reported		Adjustments		As Revised
Revenue
Software platform	$	29,391	$	74	$	29,465
Professional services	2,132		32		2,164

Total revenue	31,523		106		31,629
Cost of revenue
Software platform	6,505		55		6,560
Professional services	1,713		—		1,713

Total cost of revenue	8,218		55		8,273
Gross profit	23,305		51		23,356
Operating expenses:
Research and development	7,332		154		7,486
Sales and marketing	6,950		—		6,950
General and administrative	13,619		99		13,718


Restructuring	28		—		28
Total operating expenses	27,929		253		28,182
Loss from operations	(4,624)		(202)		(4,826)

Other income (expense), net	1,018		—		1,018
Loss before income taxes	(3,606)		(202)		(3,808)
Income tax expense	(41)		—		(41)
Loss from continuing operations	(3,647)		(202)		(3,849)
Loss from discontinued operations (Note 15)	(2,998)		—		(2,998)
Net loss	(6,645)		(202)		(6,847)
Less: Net loss attributable to noncontrolling interest included in discontinued operations	—		—		—
Net loss attributable to Blend Labs, Inc.	(6,645)		(202)		(6,847)
Less: Accretion of redeemable noncontrolling interest to redemption value from discontinued operations	—		—		—
Less: Accretion of Series A redeemable convertible preferred stock to redemption value	(4,376)		—		(4,376)
Net loss attributable to Blend Labs, Inc. common stockholders	$	(11,021)	$	(202)	$	(11,223)

Net loss per share attributable to Blend Labs, Inc. common stockholders - basic and diluted:
Continuing operations	$	(0.03)	$	—	$	(0.03)
Discontinued operations	$	(0.01)	$	—	$	(0.01)
Weighted average shares used in calculating net loss per share:
Basic and diluted	259,211		—		259,211

Comprehensive loss:
Net loss	$	(6,645)	$	(202)	$	(6,847)
Unrealized loss on marketable securities	(44)		—		(44)
Foreign currency translation loss	(7)		—		(7)
Comprehensive loss	(6,696)		(202)		(6,898)
Less: Comprehensive loss attributable to noncontrolling interest	—		—		—
Comprehensive loss attributable to Blend Labs, Inc.	$	(6,696)	$	(202)	$	(6,898)


	Six months ended June 30, 2025
	As Reported		Adjustments		As Revised
Revenue
Software platform	$	53,651	$	116	$	53,767
Professional services	4,642		65		4,707

Total revenue	58,293		181		58,474
Cost of revenue
Software platform	12,369		88		12,457
Professional services	3,660		—		3,660

Total cost of revenue	16,029		88		16,117
Gross profit	42,264		93		42,357
Operating expenses:
Research and development	14,853		476		15,329
Sales and marketing	14,137		—		14,137
General and administrative	24,844		106		24,950


Restructuring	747		—		747
Total operating expenses	54,581		582		55,163
Loss from operations	(12,317)		(489)		(12,806)

Other income (expense), net	2,132		—		2,132
Loss before income taxes	(10,185)		(489)		(10,674)
Income tax expense	(71)		—		(71)
Loss from continuing operations	(10,256)		(489)		(10,745)
Loss from discontinued operations (Note 15)	(5,801)		—		(5,801)
Net loss	(16,057)		(489)		(16,546)
Less: Net loss attributable to noncontrolling interest included in discontinued operations	182		—		182
Net loss attributable to Blend Labs, Inc.	(15,875)		(489)		(16,364)
Less: Accretion of redeemable noncontrolling interest to redemption value from discontinued operations	(1,254)		—		(1,254)
Less: Accretion of Series A redeemable convertible preferred stock to redemption value	(8,578)		—		(8,578)
Net loss attributable to Blend Labs, Inc. common stockholders	$	(25,707)	$	(489)	$	(26,196)

Net loss per share attributable to Blend Labs, Inc. common stockholders - basic and diluted:
Continuing operations	$	(0.07)	$	—	$	(0.07)
Discontinued operations	$	(0.03)	$	—	$	(0.03)
Weighted average shares used in calculating net income (loss) per share:
Basic and diluted	259,004		—		259,004

Comprehensive loss:
Net loss	$	(16,057)	$	(489)	$	(16,546)
Unrealized loss on marketable securities	(38)		—		(38)
Foreign currency translation loss	(50)		—		(50)
Comprehensive loss	(16,145)		(489)		(16,634)
Less: Comprehensive loss attributable to noncontrolling interest	182		—		182
Comprehensive loss attributable to Blend Labs, Inc.	$	(15,963)	$	(489)	$	(16,452)


	Six months ended June 30, 2025
	As Reported		Adjustments		As Revised
Operating activities
Net loss	$	(16,057)	$	(489)	$	(16,546)
Net loss from continuing operations	(10,256)		(489)		(10,745)

Adjustments to reconcile net loss to net cash provided by operating activities:
Stock-based compensation	13,610		68		13,678

Changes in operating assets and liabilities:
Trade and other receivables	(364)		(142)		(506)
Prepaid expenses and other assets, current and non-current	(1,262)		543		(719)
Deferred revenue	12,734		(382)		12,352
Other liabilities, current and non-current	2,210		(6)		2,204
Net cash provided by operating activities - continuing operations	14,793		(408)		14,385
Net cash provided by operating activities	14,022		(408)		13,614

Additions to property, equipment and internal-use software development costs	(8,320)		408		(7,912)
Net cash used in investing activities - continuing operations	(7,483)		408		(7,075)
Net cash used in investing activities	(7,603)		408		(7,195)