← Blend Labs, Inc.

Annual Trend FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Net Income — — — ($768.6m) ($185.3m) ($49.6m) ($8.1m)
Net Income From Continuing Operations — — — ($763.8m) ($167.5m) ($42.8m) ($1.1m)
Less: Net loss from discontinued operations — — — — ($12.4m) ($659k) ($5.9m)
Net loss from continuing operations — — — — ($167.5m) ($42.8m) ($1.1m)
Less: Cash, cash equivalents and restricted cash included in current assets held for sale from discontinued operations — — — — $9.7m $6.5m $3.4m
Cash, cash equivalents and restricted cash, end of period, excluding current assets held for sale from discontinued operations $28.5m $46.3m $218.4m $129.6m $38.3m $49.5m $43.6m
Reclassification of redeemable noncontrolling interest related to discontinued operations to equity — — — — $0 $0 $52.7m
Accretion of redeemable noncontrolling interest related to discontinued operations to redemption value — — — — $6.6m $6.3m $1.3m
Depreciation and amortization $4.8m $4.0m $10.6m $10.8m $2.5m $2.3m $3.3m
Amortization of deferred contract costs $2.3m $3.6m $5.0m $4.6m $3.0m $1.1m $1.6m
Amortization of debt discount and issuance costs $0 $0 $1.4m $3.1m $3.0m $690k $0
Amortization of operating lease right-of-use assets $0 $2.4m $3.2m $3.6m $3.3m $2.5m $531k
Accelerated amortization of right-of-use asset in connection with lease abandonment — — — $0 $0 $3.0m $0
Depreciation Amortization Depletion — — — $14.4m $4.3m $3.4m $3.8m
Asset Impairment Charge — — $0 $449.7m $0 $0 —
Loss on extinguishment of debt — — $0 $0 $4.0m $5.5m $0
Operating lease liabilities $0 ($2.6m) ($3.2m) ($3.9m) ($4.0m) ($4.6m) ($2.8m)
Operating lease liabilities arising from obtaining new or modified right-of-use assets $0 $1.4m $1.7m $605k $327k $1.2m $1.6m
Net loss ($81.5m) ($74.6m) ($169.1m) ($763.8m) ($179.9m) ($43.4m) ($7.0m)
Stock-based compensation $9.9m $10.1m $70.8m $109.7m $46.0m $28.1m $29.0m
Gain on conversion of note receivable to investment in equity securities — — — — $0 $0 ($825k)
Gain on investment in equity securities — $0 $0 ($2.9m) $0 ($4.4m) ($16.6m)
Gain on sale of insurance business — — — $0 $0 ($9.2m) $0
Other ($67k) $0 $0 $2.1m ($5.2m) ($283k) $0
Trade and other receivables $301k ($12.2m) ($5.8m) $12.3m $4.3m $918k $5.8m
Prepaid expenses and other assets, current and non-current ($7.1m) ($6.5m) ($13.9m) $9.4m $2.0m ($1.1m) ($5.4m)
Deferred contract costs, non-current ($845k) ($2.0m) $1.2m $2.5m ($762k) ($415k) ($557k)
Accounts payable $2.6m $293k $1.6m ($4.9m) $910k ($67k) $206k
Deferred revenue $5.7m $1.2m ($5.6m) $627k $289k $10.3m ($627k)
Accrued compensation $2.3m $5.7m $5.6m ($8.1m) ($4.5m) ($2.0m) $807k
Other liabilities, current and non-current $1.2m $4.8m $7.1m ($12.4m) ($2.5m) ($1.2m) $1.5m
Purchases of marketable securities ($150.7m) ($174.0m) ($351.6m) ($145.5m) ($236.1m) ($102.0m) ($35.5m)
Sale of available-for-sale securities $3.5m $36.7m $0 $6k $56.0m $100.3m $20.8m
Maturities of marketable securities $82.4m $130.6m $125.1m $247.0m $310.4m $53.1m $46.7m
Additions to property, equipment and internal-use software development costs ($580k) ($1.3m) ($1.9m) ($2.1m) ($587k) ($9.8m) ($11.6m)
Proceeds from sale of insurance business — — — $0 $0 $9.1m $0
Cash received in connection with conversion of note receivable to investment in equity securities — — — — $0 $0 $2.3m
Investment in non-marketable equity securities $0 $0 ($2.5m) $0 $0 $0 ($4.0m)
Investment in note receivable $0 $0 ($3.0m) $0 ($2.5m) ($5.0m) $0
Proceeds from exercises of stock options, including early exercises, net of repurchases $1.6m $4.5m $25.4m $2.6m $268k $1.7m $1.7m
Share repurchases — — — — $0 $0 ($24.9m)
Net proceeds from the issuance of the Series A redeemable convertible preferred stock and the Haveli Warrant — — — $0 $0 $149.4m $0
Payment for issuance costs related to the Series A redeemable convertible preferred stock and the Haveli Warrant — — — $0 $0 ($9.5m) $0
State and local — — — — $41k $52k $64k
Foreign — — — — $66k $24k $325k
Conversion of note receivable to investment in equity securities — — — — $0 $0 $9.7m
Vesting of early exercised stock options $597k $210k $5.0m $4.1m $1.4m $363k $0
Stock-based compensation included in capitalized internal-use software development costs — — — $0 $0 $2.5m $3.2m
Accretion of Series A redeemable convertible preferred stock to redemption value $0 $0 $1.4m $48.4m $6.6m $10.9m $17.8m
Covered Warrant received in connection with strategic partnership and sale of insurance business — — — $0 $0 $222k $0
Capitalized internal-use software development costs included in accrued compensation $0 $1.3m $0 $0 $0 $155k $129k
Beginning Cash Position — — — $218.4m $129.6m $38.3m $49.5m
Cash Flow From Continuing Financing Activities — — — $2.2m ($91.0m) ($21.1m) ($32.6m)
Cash Flow From Continuing Investing Activities — — — $99.4m $127.9m $45.5m $18.7m
Cash From Discontinued Investing Activities — — — — ($552k) ($103k) ($195k)
Change In Account Payable — — — ($4.9m) $1.2m ($291k) $206k
Change In Accrued Expense — — — ($8.1m) ($1.8m) ($2.1m) $807k
Change In Other Current Liabilities — — — ($16.3m) ($5.5m) ($3.2m) ($1.3m)
Change In Other Working Capital — — — $3.1m ($473k) $9.8m ($1.2m)
Change In Payable — — — ($4.9m) $1.2m ($291k) $206k
Change In Payables And Accrued Expense — — — ($13.0m) ($549k) ($2.4m) $1.0m
Change In Prepaid Assets — — — $9.4m $1.9m ($432k) ($5.4m)
Change In Receivables — — — $12.3m $765k $4.8m $5.8m
Change In Working Capital — — — ($4.5m) ($3.9m) $8.5m ($1.2m)
Changes In Cash — — — ($88.8m) ($91.3m) $11.3m ($2.5m)
End Cash Position — — — $129.6m $38.3m $49.5m $47.0m
Financing Cash Flow — — — $2.2m ($91.0m) ($21.1m) ($32.6m)
Free Cash Flow — — — ($192.5m) ($127.7m) ($22.8m) ($81k)
Gain Loss On Investment Securities — — — ($2.9m) — ($4.4m) ($17.4m)
Gain Loss On Sale Of Business — — — $0 $0 ($9.2m) $0
Investing Cash Flow — — — $99.4m $127.3m $45.4m $18.5m
Issuance Of Capital Stock — — — $0 $0 $149.4m $0
Net Business Purchase And Sale — — — $0 $0 $9.1m $0
Net PPE Purchase And Sale — — — ($2.1m) ($35k) ($9.7m) ($11.6m)
Net Preferred Stock Issuance — — — $0 $0 $149.4m $0
Operating Gains Losses — — — ($2.9m) $4.0m ($8.2m) ($17.4m)
Other Non Cash Items — — — $9.8m $694k $2.8m $1.3m
Preferred Stock Issuance — — — $0 $0 $149.4m $0
Proceeds From Stock Option Exercised — — — $2.6m $268k $1.7m $1.7m
Provisionand Write Offof Assets — — ($39.3m) ($2.9m) $0 $0 —
Purchase Of Business — — ($400.0m) $0 $0 — —
Purchase Of PPE — — $1.7m ($2.1m) ($35k) ($9.7m) ($11.6m)
Repurchase Of Capital Stock — — — ($391k) $0 $0 ($24.9m)
Sale Of Business — — — $0 $0 $9.1m $0
Net cash provided by (used in) operating activities - continuing operations ($58.9m) ($65.0m) ($127.5m) ($190.4m) ($116.8m) ($8.2m) $14.4m
Net cash used in operating activities - discontinued operations ($58.9m) ($65.0m) ($127.5m) ($190.4m) ($10.8m) ($4.8m) ($2.9m)
Net cash provided by (used in) operating activities ($58.9m) ($65.0m) ($127.5m) ($190.4m) ($127.6m) ($13.0m) $11.5m
Net Investment Purchase And Sale — — — $101.5m $130.4m $51.4m $30.3m
Purchase Of Investment — — — ($145.5m) ($236.1m) ($102.0m) ($39.5m)
Sale Of Investment — — — $247.0m $366.5m $153.5m $69.8m
Net Other Investing Changes — — ($3.0m) — ($2.5m) ($5.3m) —
Net cash provided by investing activities - continuing operations — — — — $127.9m $45.5m $18.7m
Net cash used in investing activities - discontinued operations — — — — ($552k) ($103k) ($195k)
Net cash provided by investing activities ($65.5m) ($7.9m) ($633.9m) $99.4m $127.3m $45.4m $18.5m
Issuance Of Debt — — $221.7m $0 $0 — —
Long Term Debt Issuance — — $221.7m $0 $0 — —
Net Issuance Payments Of Debt — — — $0 ($85.1m) ($144.5m) $0
Net Long Term Debt Issuance — — — $0 ($85.1m) ($144.5m) $0
Repayment of long-term debt — — $0 $0 ($85.1m) ($144.5m) $0
Long Term Debt Payments — — — $0 ($85.1m) ($144.5m) $0
Repayment Of Debt — — — $0 ($85.1m) ($144.5m) $0
Common Stock Issuance — — $366.8m — $0 — —
Net Common Stock Issuance — — — ($391k) $0 $0 ($24.9m)
Common Stock Payments — — — ($391k) $0 $0 ($24.9m)
Net Other Financing Charges — — — — ($6.2m) ($27.6m) ($9.4m)
Net cash used in financing activities - continuing operations $132.7m $90.8m $933.6m $2.2m ($91.0m) ($21.1m) ($32.6m)
Effect of exchange rates on cash, cash equivalents, and restricted cash $0 $0 ($9k) ($116k) ($31k) ($5k) $0
Effect Of Exchange Rate Changes — — — ($116k) ($31k) ($5k) $0
Net (decrease) increase in cash, cash equivalents, and restricted cash $8.2m $17.8m $172.2m ($88.9m) ($91.3m) $11.3m ($2.5m)
Cash, cash equivalents, and restricted cash at beginning of period — — — — $38.3m $49.5m $47.0m
Cash and cash equivalents $22.6m $41.1m $213.1m $124.2m $31.0m $42.2m $43.6m
Restricted cash $5.8m $5.2m $5.4m $5.4m $7.3m $7.3m $0
Change In Cash Supplemental As Reported — — — ($88.9m) ($91.3m) $11.3m ($2.5m)
Cash paid for interest $0 $0 $6.4m $25.1m $27.8m $6.2m $0
Cash paid for income taxes
Taxes paid related to net share settlement of equity awards $8k $26k $0 $0 ($6.2m) ($18.1m) ($9.4m)
Total income taxes paid, net $8k $26k $884k $276k $107k $76k $389k

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.