Description of Business and Basis of Presentation	6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Description of Business and Basis of Presentation Description of Business Blend Labs, Inc. (the “Company,” “Blend,” “we,” “us,” or “our”) was incorporated on April 17, 2012. The Company offers a cloud-based software platform for financial services firms that is designed to power the end-to-end consumer journey for banking products. The Company’s solutions make the journey from application to close fast, simple, and transparent for consumers, while helping financial services firms increase productivity, deepen customer relationships, and deliver exceptional consumer experiences. Basis of Presentation and Principles of Consolidation The unaudited condensed consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and include the accounts of Blend Labs, Inc., its subsidiaries in which the Company holds a controlling financial interest, and variable interest entities (“VIE”) in which the Company is the primary beneficiary in accordance with the consolidation accounting guidance. Noncontrolling interest represents the minority stockholder’s share of the net income or loss and equity in a consolidated subsidiary. On February 26, 2025, the Company obtained the remaining interest previously held by the minority stockholder thereby extinguishing the noncontrolling interest. All intercompany balances and transactions have been eliminated in consolidation. During the first quarter of 2025, the Company classified the results of its previously reported Title segment as discontinued operations in the Company’s unaudited condensed consolidated financial statements for all periods presented. On March 1, 2026, the Company completed the sale of substantially all assets and liabilities of the title business. As a result, the Company operates in a single reportable segment. For further information on the Company’s segments, refer to Note 14, Segment Information, and Note 15, Assets Held for Sale and Discontinued Operations. Prior period information has been reclassified to conform to the current period presentation. Refer to Note 15, Assets Held for Sale and Discontinued Operations. Use of Estimates The preparation of unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make, on an ongoing basis, estimates and assumptions that affect the amounts reported in the unaudited condensed consolidated financial statements and the notes thereto. Actual results may differ from those estimates. Such estimates include, but are not limited to, estimates of variable consideration, evaluation of contingencies, determination of the incremental borrowing rates used in calculations of lease liabilities, determination of fair value of stock-based compensation, determination of fair value of marketable securities, determination of fair value of each of the Series A Preferred Stock and the warrant issued to Brooks Aggregator, L.P. (“Haveli”) to purchase up to 11,111,112 shares of Class A common stock, at a purchase price of $4.50 per share of Class A common stock (the “Haveli Warrant”), determination of fair values of assets transferred and performance obligations committed to under the strategic partnership agreement, assessment of expected credit losses on notes receivable, valuation of deferred tax assets, valuation of the redeemable noncontrolling interest, determination of fair value of the disposal group classified in discontinued operations, determination of useful lives of tangible and intangible assets and capitalized internal-use software development costs, assessment of impairment of long-lived assets, and valuation of equity securities without readily determinable fair value. Risks and Uncertainties The Company has been and may continue to be affected by various macroeconomic factors, including the interest rate environment, housing affordability, U.S trade and tariff policy, and worldwide political and economic conditions. Financial markets have continued to experience periods of volatility driven by uncertainty around monetary policy, inflation, employment trends, and geopolitical conflict. The real estate environment, including interest rates, home prices, and the general economic environment, typically impacts the demand for mortgage and mortgage related products. While the Federal Reserve reduced its benchmark rate during the latter part of 2025 and 30-year mortgage rates have moderated from their recent highs, the demand for mortgage and mortgage related products remains sensitive to these factors, and any material changes in Federal Reserve policy or leadership, interest rates, or housing supply are expected to impact overall origination activity levels during 2026. The ongoing implementation, modification, and litigation of U.S. tariff policy has contributed to market volatility and could influence inflation expectations, the pace and direction of future Federal Reserve actions, consumer confidence, and long-term interest rates, any of which could in turn affect the demand for mortgage and consumer financial products. The Company’s operations are principally funded by available liquidity from cash, cash equivalents and investments. The Company has incurred net losses in each period since inception, and its limited operating history in an evolving industry makes it difficult to accurately forecast the impact of macroeconomic or other external factors on its business and may increase the risk that the Company may not be able to achieve or maintain profitability in the future, or otherwise suffers adverse impacts on its operational and financial results.

Blend Labs, Inc. (the “Company,” “Blend,” “we,” “us,” or “our”) was incorporated on April 17, 2012. The Company offers a cloud-based software platform for financial services firms that is designed to power the end-to-end consumer journey for banking products. The Company’s solutions make the journey from application to close fast, simple, and transparent for consumers, while helping financial services firms increase productivity, deepen customer relationships, and deliver exceptional consumer experiences.

The unaudited condensed consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) and include the accounts of Blend Labs, Inc., its subsidiaries in which the Company holds a controlling financial interest, and variable interest entities (“VIE”) in which the Company is the primary beneficiary in accordance with the consolidation accounting guidance.

During the first quarter of 2025, the Company classified the results of its previously reported Title segment as discontinued operations in the Company’s unaudited condensed consolidated financial statements for all periods presented. On March 1, 2026, the Company completed the sale of substantially all assets and liabilities of the title business. As a result, the Company operates in a single reportable segment. For further information on the Company’s segments, refer to Note 14, Segment Information, and Note 15, Assets Held for Sale and Discontinued Operations.

The preparation of unaudited condensed consolidated financial statements in conformity with U.S. GAAP requires management to make, on an ongoing basis, estimates and assumptions that affect the amounts reported in the unaudited condensed consolidated financial statements and the notes thereto. Actual results may differ from those estimates. Such estimates include, but are not limited to, estimates of variable consideration, evaluation of contingencies, determination of the incremental borrowing rates used in calculations of lease liabilities, determination of fair value of stock-based compensation, determination of fair value of marketable securities, determination of fair value of each of the Series A Preferred Stock and the warrant issued to Brooks Aggregator, L.P. (“Haveli”) to purchase up to 11,111,112 shares of Class A common stock, at a purchase price of $4.50 per share of Class A common stock (the “Haveli Warrant”), determination of fair values of assets transferred and performance obligations committed to under the strategic partnership agreement, assessment of expected credit losses on notes receivable, valuation of deferred tax assets, valuation of the redeemable noncontrolling interest, determination of fair value of the disposal group classified in discontinued operations, determination of useful lives of tangible and intangible assets and capitalized internal-use software development costs, assessment of impairment of long-lived assets, and valuation of equity securities without readily determinable fair value.

The Company has been and may continue to be affected by various macroeconomic factors, including the interest rate environment, housing affordability, U.S trade and tariff policy, and worldwide political and economic conditions. Financial markets have continued to experience periods of volatility driven by uncertainty around monetary policy, inflation, employment trends, and geopolitical conflict. The real estate environment, including interest rates, home prices, and the general economic environment, typically impacts the demand for mortgage and mortgage related products. While the Federal Reserve reduced its benchmark rate during the latter part of 2025 and 30-year mortgage rates have moderated from their recent highs, the demand for mortgage and mortgage related products remains sensitive to these factors, and any material changes in Federal Reserve

policy or leadership, interest rates, or housing supply are expected to impact overall origination activity levels during 2026. The ongoing implementation, modification, and litigation of U.S. tariff policy has contributed to market volatility and could influence inflation expectations, the pace and direction of future Federal Reserve actions, consumer confidence, and long-term interest rates, any of which could in turn affect the demand for mortgage and consumer financial products.

The Company’s operations are principally funded by available liquidity from cash, cash equivalents and investments. The Company has incurred net losses in each period since inception, and its limited operating history in an evolving industry makes it difficult to accurately forecast the impact of macroeconomic or other external factors on its business and may increase the risk that the Company may not be able to achieve or maintain profitability in the future, or otherwise suffers adverse impacts on its operational and financial results.