Blend Results Presentation Deck
Reconciliation of GAAP to Non-GAAP Measures (cont.)
(in thousands)
14
Operating Expenses
GAAP operating expenses
Non-GAAP expenses:
Stock-based compensation (¹) and amortization of warrant
Amortization of acquired intangible assets (²)
Acquisition-related expenses(³)
Non-GAAP operating expenses
GAAP loss from operations
Non-GAAP expenses:
Stock-based compensation (¹) and amortization of warrant
Amortization of acquired intangible assets(²)
Acquisition-related expenses (³)
Non-GAAP loss from operations
GAAP net loss
Non-GAAP expenses:
Stock-based compensation (¹) and amortization of warrant
Amortization of acquired intangible assets (2)
Acquisition-related expenses (3)
Income tax benefit related to acquisition (4)
Non-GAAP net loss
(1) Stock-based compensation by function:
Cost of revenue
Research and development
$
$
Three Months Ended
December 31,
2020
2021
94,810 $
16,541
3,772
569
73,928
$
Year Ended
December 31,
2020
2021
37,896 $ 313,231 $ 137,031
$
2,626
70,383
10,541
8,136
0
45
12,984
1,014
35,225 $ 221,728 $ 125,476
$ (59,865) $ (16,051) $ (197,242) $ (75,291)
16,833
3,772
569
71,136
8,136
12,984
45
1,014
$ (38,691) $ (13,359) $ (104,986) $ (63,657)
2,647
$ (71,511) $ (15,978) $ (169,142) $ (74,617)
16,833
3,772
569
71,136
8,136
12,984
(39,311)
5,991
$ (44,346) $ (13,286) $ (116,197) $
2,647
45
292 $
5,281
2,034
9,188
$ 16,795 $ 2,384 $
10,620
21 $
961
885
517
10,620
1,014
(62,983)
753 $
13,184
7,167
49,740
70,844 $ 10,124
79
4,250
3,675
2,120
Sales and marketing
General and administrative
Total
(2) Amortization of acquired intangible assets represents non-cash amortization of customer relationships acquired in connection with the Title365 acquisition
(3) Acquisition-related expenses include non-recurring due diligence, transaction and integration costs recorded within general and administrative expenses
(4) Income tax benefit related to acquisition represents the non-recurring release of historical valuation allowance resulting from the recognition of a deferred tax liability in
connection with the Title365 acquisition
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