
	Three months ended September 30, 2025
	As Reported		Adjustments		As Revised
Revenue
Software platform	$	30,459	$	(97)	$	30,362
Professional services	2,401		(68)		2,333

Total revenue	32,860		(165)		32,695
Cost of revenue
Software platform	6,624		13		6,637
Professional services	1,780		—		1,780

Total cost of revenue	8,404		13		8,417
Gross profit	24,456		(178)		24,278
Operating expenses:
Research and development	8,522		183		8,705
Sales and marketing	7,873		—		7,873
General and administrative	12,879		75		12,954


Restructuring	93		—		93
Total operating expenses	29,367		258		29,625
Loss from operations	(4,911)		(436)		(5,347)

Other income (expense), net	17,348		—		17,348
Income before income taxes	12,437		(436)		12,001
Income tax expense	(27)		—		(27)
Income from continuing operations	12,410		(436)		11,974
Income from discontinued operations (Note 15)	122		—		122
Net income	12,532		(436)		12,096
Less: Net income attributable to noncontrolling interest included in discontinued operations	—		—		—
Net income attributable to Blend Labs, Inc.	12,532		(436)		12,096
Less: Accretion of redeemable noncontrolling interest to redemption value from discontinued operations	—		—		—
Less: Accretion of Series A redeemable convertible preferred stock to redemption value	(4,558)		—		(4,558)
Net income attributable to Blend Labs, Inc. common stockholders	$	7,974	$	(436)	$	7,538

Net income per share attributable to Blend Labs, Inc. common stockholders - basic and diluted:
Basic
Continuing operations	$	0.03	$	(0.01)	$	0.02
Discontinued operations	$	—	$	—	$	—
Net income per share attributable to Blend Labs, Inc. common stockholders	$	0.03	$	(0.01)	$	0.02
Diluted
Continuing operations	$	0.02	$	—	$	0.02
Discontinued operations	$	—	$	—	$	—
Net income per share attributable to Blend Labs, Inc. common stockholders	$	0.02	$	—	$	0.02
Weighted average shares used in calculating net income per share:
Basic	259,631		—		259,631
Diluted	268,719		—		268,719
Comprehensive income:
Net income	$	12,532	$	(436)	$	12,096
Unrealized loss on marketable securities	(62)		—		(62)
Foreign currency translation gain	103		—		103
Comprehensive income	12,573		(436)		12,137
Less: Comprehensive loss attributable to noncontrolling interest	—		—		—
Comprehensive income attributable to Blend Labs, Inc.	$	12,573	$	(436)	$	12,137


	Nine months ended September 30, 2025
	As Reported		Adjustments		As Revised
Revenue
Software platform	$	84,110	$	19	$	84,129
Professional services	7,043		(3)		7,040

Total revenue	91,153		16		91,169
Cost of revenue
Software platform	18,993		101		19,094
Professional services	5,440		—		5,440

Total cost of revenue	24,433		101		24,534
Gross profit	66,720		(85)		66,635
Operating expenses:
Research and development	23,375		659		24,034
Sales and marketing	22,010		—		22,010
General and administrative	37,723		181		37,904


Restructuring	840		—		840
Total operating expenses	83,948		840		84,788
Loss from operations	(17,228)		(925)		(18,153)

Other income (expense), net	19,480		—		19,480
Income before income taxes	2,252		(925)		1,327
Income tax expense	(98)		—		(98)
Income from continuing operations	2,154		(925)		1,229
Loss from discontinued operations (Note 15)	(5,679)		—		(5,679)
Net loss	(3,525)		(925)		(4,450)
Less: Net loss attributable to noncontrolling interest included in discontinued operations	182		—		182
Net loss attributable to Blend Labs, Inc.	(3,343)		(925)		(4,268)
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	(13,136)		—		(13,136)
Net loss attributable to Blend Labs, Inc. common stockholders	$	(17,733)	$	(925)	$	(18,658)

Net loss per share attributable to Blend Labs, Inc. common stockholders - basic and diluted:
Basic:
Continuing operations	$	(0.04)	$	—	$	(0.04)
Discontinued operations	$	(0.03)	$	—	$	(0.03)
Weighted average shares used in calculating net loss per share:
Basic and diluted	259,228		—		259,228

Comprehensive loss:
Net loss	$	(3,525)	$	(925)	$	(4,450)
Unrealized loss on marketable securities	(100)		—		(100)
Foreign currency translation gain	53		—		53
Comprehensive loss	(3,572)		(925)		(4,497)
Less: Comprehensive loss attributable to noncontrolling interest	182		—		182
Comprehensive loss attributable to Blend Labs, Inc.	$	(3,390)	$	(925)	$	(4,315)


	Nine months ended September 30, 2025
	As Reported		Adjustments		As Revised
Operating activities
Net loss	$	(3,525)	$	(925)	$	(4,450)
Net income from continuing operations	2,154		(925)		1,229

Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation	21,376		101		21,477

Changes in operating assets and liabilities:
Trade and other receivables	2,345		(120)		2,225
Prepaid expenses and other assets, current and non-current	(4,709)		418		(4,291)
Deferred revenue	5,313		(119)		5,194
Other liabilities, current and non-current	1,686		87		1,773
Net cash provided by operating activities - continuing operations	12,060		(558)		11,502
Net cash provided by operating activities	10,532		(558)		9,974

Additions to property, equipment and internal-use software development costs	(10,592)		558		(10,034)
Net cash provided by investing activities - continuing operations	19,972		558		20,530
Net cash provided by investing activities	19,790		558		20,348