← Blend Labs, Inc.
| Annual Trend | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|
| Net loss | ($81.5m) | ($74.6m) | ($169.1m) | ($763.8m) | ($179.9m) | ($43.4m) | ($7.0m) | — | |
| Less: Net loss from discontinued operations | — | — | — | — | ($12.4m) | ($659k) | ($5.9m) | — | |
| Net loss from continuing operations | — | — | — | — | ($167.5m) | ($42.8m) | ($1.1m) | — | |
| Net Income | — | — | — | ($768.6m) |
($185.3m)
+75.89%
|
($49.6m)
+73.23%
|
($8.1m)
+83.76%
|
$2.3m
+129.06%
|
|
| Net Income From Continuing Operations | — | — | — | ($763.8m) | ($167.5m) | ($42.8m) | ($1.1m) | $2.3m | |
| Depreciation and amortization | $4.8m | $4.0m | $10.6m | $10.8m | $2.5m | $2.3m | $3.3m | $5.6m | |
| 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 | $5.6m | |
| Stock-based compensation | $9.9m | $10.1m | $70.8m | $109.7m | $46.0m | $28.1m | $29.0m | $29.0m | |
| Stock-based compensation included in capitalized internal-use software development costs | — | — | — | $0 | $0 | $2.5m | $3.2m | $29.0m | |
| Asset Impairment Charge | — | — | $0 | $449.7m | $0 | $0 | — | $0 | |
| Change In Working Capital | — | — | — | ($4.5m) | ($3.9m) | $8.5m | ($1.2m) | ($6.4m) | |
| Trade and other receivables | $301k | ($12.2m) | ($5.8m) | $12.3m | $4.3m | $918k | $5.8m | — | |
| Change In Receivables | — | — | — | $12.3m | $765k | $4.8m | $5.8m | $603k | |
| Accounts payable | $2.6m | $293k | $1.6m | ($4.9m) | $910k | ($67k) | $206k | ($815k) | |
| Change In Payables And Accrued Expense | — | — | — | ($13.0m) | ($549k) | ($2.4m) | $1.0m | ($815k) | |
| 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 | — | |
| Capitalized internal-use software development costs included in accrued compensation | $0 | $1.3m | $0 | $0 | $0 | $155k | $129k | — | |
| Change In Accrued Expense | — | — | — | ($8.1m) | ($1.8m) | ($2.1m) | $807k | $504k | |
| Other | ($67k) | $0 | $0 | $2.1m | ($5.2m) | ($283k) | $0 | — | |
| Prepaid expenses and other assets, current and non-current | ($7.1m) | ($6.5m) | ($13.9m) | $9.4m | $2.0m | ($1.1m) | ($5.4m) | — | |
| Other liabilities, current and non-current | $1.2m | $4.8m | $7.1m | ($12.4m) | ($2.5m) | ($1.2m) | $1.5m | — | |
| Change In Other Current Liabilities | — | — | — | ($16.3m) | ($5.5m) | ($3.2m) | ($1.3m) | ($1.7m) | |
| Net cash provided by (used in) operating activities - continuing operations | ($58.9m) |
($65.0m)
-10.31%
|
($127.5m)
-96.12%
|
($190.4m)
-49.34%
|
($116.8m)
+38.65%
|
($8.2m)
+92.98%
|
$14.4m
+275.59%
|
$16.2m
+12.61%
|
|
| Net cash used in operating activities - discontinued operations | ($58.9m) |
($65.0m)
-10.31%
|
($127.5m)
-96.12%
|
($190.4m)
-49.34%
|
($10.8m)
+94.33%
|
($4.8m)
+55.16%
|
($2.9m)
+40.42%
|
$16.2m
+661.78%
|
|
| Net cash provided by (used in) operating activities | ($58.9m) |
($65.0m)
-10.31%
|
($127.5m)
-96.12%
|
($190.4m)
-49.34%
|
($127.6m)
+32.98%
|
($13.0m)
+89.78%
|
$11.5m
+188.26%
|
$16.2m
+40.84%
|
|
| Additions to property, equipment and internal-use software development costs | ($580k) | ($1.3m) | ($1.9m) | ($2.1m) | ($587k) | ($9.8m) | ($11.6m) | — | |
| Purchases of marketable securities | ($150.7m) | ($174.0m) | ($351.6m) | ($145.5m) | ($236.1m) | ($102.0m) | ($35.5m) | — | |
| Maturities of marketable securities | $82.4m | $130.6m | $125.1m | $247.0m | $310.4m | $53.1m | $46.7m | — | |
| Net Other Investing Changes | — | — | ($3.0m) | — | ($2.5m) | ($5.3m) | — | ($5.3m) | |
| Net cash provided by investing activities - continuing operations | — | — | — | — | $127.9m | $45.5m | $18.7m | $26.9m | |
| Net cash used in investing activities - discontinued operations | — | — | — | — | ($552k) | ($103k) | ($195k) | $26.9m | |
| Net cash provided by investing activities | ($65.5m) | ($7.9m) | ($633.9m) | $99.4m | $127.3m | $45.4m | $18.5m | $26.9m | |
| Loss on extinguishment of debt | — | — | $0 | $0 | $4.0m | $5.5m | $0 | — | |
| Repayment of long-term debt | — | — | $0 | $0 | ($85.1m) | ($144.5m) | $0 | — | |
| Issuance Of Debt | — | — | $221.7m | $0 | $0 | — | — | ($24k) | |
| Long Term Debt Issuance | — | — | $221.7m | $0 | $0 | — | — | ($24k) | |
| Long Term Debt Payments | — | — | — | $0 | ($85.1m) | ($144.5m) | $0 | $0 | |
| Net Issuance Payments Of Debt | — | — | — | $0 | ($85.1m) | ($144.5m) | $0 | $0 | |
| Net Long Term Debt Issuance | — | — | — | $0 | ($85.1m) | ($144.5m) | $0 | $0 | |
| Repayment Of Debt | — | — | — | $0 | ($85.1m) | ($144.5m) | $0 | $0 | |
| Common Stock Issuance | — | — | $366.8m | ($391k) | $0 | $0 | ($24.9m) | $0 | |
| Common Stock Payments | — | — | — | ($391k) | $0 | $0 | ($24.9m) | ($58.0m) | |
| Issuance Of Capital Stock | — | — | — | $0 | $0 | $149.4m | $0 | $0 | |
| Repurchase Of Capital Stock | — | — | — | ($391k) | $0 | $0 | ($24.9m) | ($58.0m) | |
| Taxes paid related to net share settlement of equity awards | $8k | $26k | $0 | $0 | ($6.2m) | ($18.1m) | ($9.4m) | — | |
| Net Other Financing Charges | — | — | — | — | ($6.2m) | ($27.6m) | ($9.4m) | ($5.9m) | |
| Net cash used in financing activities - continuing operations | $132.7m |
$90.8m
-31.59%
|
$933.6m
+928.66%
|
$2.2m
-99.76%
|
($91.0m)
-4197.21%
|
($21.1m)
+76.84%
|
($32.6m)
-54.72%
|
($63.0m)
-93.23%
|
|
| 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 | — | |
| Beginning Cash Position | — | — | — | $218.4m | $129.6m | $38.3m | $49.5m | $47.1m | |
| Effect of exchange rates on cash, cash equivalents, and restricted cash | $0 | $0 | ($9k) | ($116k) | ($31k) | ($5k) | $0 | — | |
| Less: Cash, cash equivalents and restricted cash included in current assets held for sale from discontinued operations | — | — | — | — | $9.7m | $6.5m | $3.4m | — | |
| Restricted cash | $5.8m | $5.2m | $5.4m | $5.4m | $7.3m | $7.3m | $0 | — | |
| Effect Of Exchange Rate Changes | — | — | — | ($116k) | ($31k) | ($5k) | $0 | ($24k) | |
| Additional Supplementary Disclosures | |||||||||
| Additional Supplementary Disclosures | |||||||||
| 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 | — | |
| Deferred contract costs, non-current | ($845k) | ($2.0m) | $1.2m | $2.5m | ($762k) | ($415k) | ($557k) | — | |
| Operating lease liabilities | $0 | ($2.6m) | ($3.2m) | ($3.9m) | ($4.0m) | ($4.6m) | ($2.8m) | — | |
| Sale of available-for-sale securities | $3.5m | $36.7m | $0 | $6k | $56.0m | $100.3m | $20.8m | — | |
| 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 | — | |
| 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 | — | |
| Cash and cash equivalents | $22.6m | $41.1m | $213.1m | $124.2m | $31.0m | $42.2m | $43.6m | $47.1m | |
| Cash paid for income taxes | |||||||||
| State and local | — | — | — | — | $41k | $52k | $64k | — | |
| Foreign | — | — | — | — | $66k | $24k | $325k | — | |
| Total income taxes paid, net | $8k | $26k | $884k | $276k | $107k | $76k | $389k | — | |
| Cash paid for interest | $0 | $0 | $6.4m | $25.1m | $27.8m | $6.2m | $0 | — | |
| Conversion of note receivable to investment in equity securities | — | — | — | — | $0 | $0 | $9.7m | — | |
| Reclassification of redeemable noncontrolling interest related to discontinued operations to equity | — | — | — | — | $0 | $0 | $52.7m | — | |
| Vesting of early exercised stock options | $597k | $210k | $5.0m | $4.1m | $1.4m | $363k | $0 | — | |
| Operating lease liabilities arising from obtaining new or modified right-of-use assets | $0 | $1.4m | $1.7m | $605k | $327k | $1.2m | $1.6m | — | |
| Accretion of redeemable noncontrolling interest related to discontinued operations to redemption value | — | — | — | — | $6.6m | $6.3m | $1.3m | — | |
| 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 | — | |
| Cash Flow From Continuing Financing Activities | — | — | — | $2.2m | ($91.0m) | ($21.1m) | ($32.6m) | ($63.0m) | |
| Cash Flow From Continuing Investing Activities | — | — | — | $99.4m | $127.9m | $45.5m | $18.7m | $26.9m | |
| Cash From Discontinued Investing Activities | — | — | — | — | ($552k) | ($103k) | ($195k) | $1.0m | |
| Change In Account Payable | — | — | — | ($4.9m) | $1.2m | ($291k) | $206k | ($815k) | |
| Change In Cash Supplemental As Reported | — | — | — | ($88.9m) | ($91.3m) | $11.3m | ($2.5m) | — | |
| Change In Other Working Capital | — | — | — | $3.1m | ($473k) | $9.8m | ($1.2m) | ($695k) | |
| Change In Payable | — | — | — | ($4.9m) | $1.2m | ($291k) | $206k | ($815k) | |
| Change In Prepaid Assets | — | — | — | $9.4m | $1.9m | ($432k) | ($5.4m) | ($4.3m) | |
| Changes In Cash | — | — | — | ($88.8m) | ($91.3m) | $11.3m | ($2.5m) | ($21.9m) | |
| End Cash Position | — | — | — | $129.6m | $38.3m | $49.5m | $47.0m | $25.3m | |
| Financing Cash Flow | — | — | — | $2.2m |
($91.0m)
-4197.21%
|
($21.1m)
+76.84%
|
($32.6m)
-54.72%
|
($63.0m)
-93.23%
|
|
| Free Cash Flow | — | — | — | ($192.5m) | ($127.7m) | ($22.8m) | ($81k) | $7.6m | |
| Gain Loss On Investment Securities | — | — | — | ($2.9m) | — | ($4.4m) | ($17.4m) | ($17.4m) | |
| Gain Loss On Sale Of Business | — | — | — | $0 | $0 | ($9.2m) | $0 | $0 | |
| Investing Cash Flow | — | — | — | $99.4m | $127.3m | $45.4m | $18.5m | $26.9m | |
| Net Business Purchase And Sale | — | — | — | $0 | $0 | $9.1m | $0 | $0 | |
| Net Investment Purchase And Sale | — | — | — | $101.5m | $130.4m | $51.4m | $30.3m | $32.5m | |
| Net PPE Purchase And Sale | — | — | — | ($2.1m) | ($35k) | ($9.7m) | ($11.6m) | ($5.6m) | |
| Net Preferred Stock Issuance | — | — | — | $0 | $0 | $149.4m | $0 | $0 | |
| Operating Gains Losses | — | — | — | ($2.9m) | $4.0m | ($8.2m) | ($17.4m) | ($17.4m) | |
| Other Non Cash Items | — | — | — | $9.8m | $694k | $2.8m | $1.3m | — | |
| Proceeds From Stock Option Exercised | — | — | — | $2.6m | $268k | $1.7m | $1.7m | $955k | |
| Provisionand Write Offof Assets | — | — | ($39.3m) | ($2.9m) | $0 | $0 | — | $4.3m | |
| Purchase Of Business | — | — | ($400.0m) | $0 | $0 | — | — | $0 | |
| Purchase Of Investment | — | — | — | ($145.5m) | ($236.1m) | ($102.0m) | ($39.5m) | ($16.7m) | |
| Purchase Of PPE | — | — | $1.7m | ($2.1m) | ($35k) | ($9.7m) | ($11.6m) | ($5.6m) | |
| Sale Of Investment | — | — | — | $247.0m | $366.5m | $153.5m | $69.8m | $49.2m |