Blend Results Presentation Deck
Reconciliation of GAAP to Non-GAAP Measures (cont.)
(in thousands)
GAAP net loss per share
Non-GAAP adjustments:
Net loss attributable to noncontrolling interest(8)
Accretion of redeemable noncontrolling interest to redemption value(8)
Undistributed earnings attributable to participating securities(⁹)
Stock-based compensation and amortization of warrant
Amortization of acquired intangible assets (²)
Impairment of intangible assets and goodwill (3)
Restructuring (4)
Acquisition-related expenses(5)
Foreign currency gains and losses(6)
Income tax benefit (7)
Non-GAAP net loss per share
(1) Stock-based compensation by function:
Cost of revenue
Research and development
Sales and marketing
General and administrative
Total
$
$
S
Three Months Ended June 30,
2022
2021
(2.06) S
(0.15)
0.16
0.12
0.02
1.69
0.03
(0.19) S
550 S
12,516
3,179
13,003
29,248 S
0.00 S
(5) Acquisition-related expenses include non-recurring due diligence, transaction and integration costs recorded within general and administrative expense.
(6) Foreign currency gains and losses include transaction gains and losses incurred in connections with our operations in India.
0.11
0.12
0.13
(0.87)
(0.51) S
157 $
2,832
1,924
1,696
6,609 $
Six Months Ended June 30,
2022
2021
(2.38) $
(0.16)
0.17
0.22
0.04
1.69
0.03
0.01
(0.01)
(0.39) $
1,043 S
22,382
5,702
24,433
53,560 $
(0.44)
0.22
0.22
(0.93)
(0.93)
215
4,218
3,297
2,895
10,625
(2) Amortization of acquired intangible assets represents non-cash amortization of customer relationships acquired in connection with the Title365 acquisition.
(3) Impairment of intangible assets and goodwill relates to charges recorded based on the results of the interim quantitative impairment analysis performed in the three months ended June 30, 2022 in response to certain
triggering events, such as a continued decline in economic and market conditions, decline in our market capitalization, and current and projected declines in the operating results of the Title365 reporting unit.
(4) The restructuring charges relate to the April Plan, under which we eliminated approximately 200 positions as part of our broader efforts to improve cost efficiency and better align our operating structure with our
business activities.
(7) Income tax benefit represents the non-recurring release of historical valuation allowance resulting from changes in U.S. tax law requiring capitalization and amortization of research and development costs for tax
purposes..
(8) Net loss attributable to noncontrolling interest and accretion of redeemable noncontrolling interest to redemption value relate to the 9.9% non-controlling interest in our Title365 subsidiary.
1:
(9) Undistributed earnings attributable to participating securities relate to the income allocated to the holders of convertible preferred stock as the holders of the convertible preferred shares were entitled to dividends in
priority to any dividend declared and paid to the holders of common stock.
blend
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