Blend Results Presentation Deck
Reconciliation of GAAP to Non-GAAP Measures (cont.)
(in thousands)
GAAP net loss per share
Non-GAAP adjustments:
Net (loss) income attributable to noncontrolling interest (10)
Accretion of redeemable noncontrolling interest to redemption value (10)
Stock-based compensation and amortization of warrant
Amortization of acquired intangible assets(2)
Impairment of intangible assets and goodwill (3)
Restructuring (4)
Litigation contingencies (5)
Acquisition-related expenses(6)
Gain on investment in equity securities' (7)
Foreign currency gains and losses(8)
Income tax benefit (⁹)
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
$
Three Months Ended December 31,
2021
2022
(0.35) $
0.01
0.12
0.01
(0.21)
574 $
12,624
3,274
11,719
28,191 $
(0.32) S
0.01
0.07
0.02
0.03
(0.19) S
292 S
5,281
2,034
9,188
16,795 $
Year Ended December 31,
2022
2021
(3.28) $
(0.19)
0.21
0.47
0.04
1.92
0.06
0.01
(0.01)
(0.01)
(0.78) $
2,069 S
47,280
11,725
48,628
109,702
(1.30)
0.01
0.01
0.54
0.06
0.10
(0.30)
(0.88)
753
13,184
7,167
49,740
70,844
(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 quarter ended June 30, 2022 and in the quarter ended
September 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 Title 365 reporting unit.
(4) The restructuring charges relate to the April Plan, the August Plan and the November Plan, under which we eliminated approximately 440 positions, respectively, as part of our broader efforts to improve cost
efficiency and better align our operating structure with our business activities.
(5) Litigation contingencies represent reserves for legal settlements that are unusual or infrequent costs associated with our operating activities.
(6) Acquisition-related expenses include non-recurring due diligence, transaction and integration costs recorded within general and administrative expense.
(7) Gain on investment in equity securities represents an adjustment to the carrying value of the non-marketable security without a readily determinable fair value to reflect observable price changes.
(8) Foreign currency gains and losses include transaction gains and losses incurred in connections with our operations in India.
(9) 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.
(10) Net (loss) income 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.
blend
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