Blend Results Presentation Deck
Q3 2022 GAAP Financial Results
(in thousands)
Revenue
Cost of revenue
Gross profit
Operating expenses:
Research and development
Sales and marketing
General and administrative
Amortization of acquired intangible assets
Impairment of intangible assets and goodwill
Restructuring
Total operating expenses
Loss from operations
Interest expense
Other income (expense), net
Loss before income taxes
Income tax (expense) benefit
Net loss
Less: Net loss (income) attributable to noncontrolling interest
Net loss attributable to Blend Labs, Inc.
Less: Accretion of redeemable noncontrolling interest to redemption value
Net loss attributable to Blend Labs, Inc. common stockholders
Net loss per share attributable to Blend Labs, Inc. common stockholders:
Basic
Diluted
Weighted average shares used in calculating net loss per share:
Basic
Diluted
$
Three Months Ended September 30,
2022
2021
55,353 $
34,243
21,110
34,240
20,518
32,140
275
57,857
5,936
150,966
(129,856)
(6,158)
3,281
(132,733)
(14)
(132,747)
6,619
(126,128)
(7,847)
(133,975) $
(0.57) $
(0.57) S
235,267
235,267
89,568 $
49,241
40,327
25,518
21,957
59,024
4,364
110,863
(70,536)
(5,615)
121
(76,030)
(300)
(76,330)
(595)
(76,925)
(76,925) $
(0.38) $
(0.38) $
200,176
200,176
Nine Months Ended September 30,
2022
2021
192,416 $
117,172
75,244
104,846
65,297
105,714
8,411
449,680
12,316
746,264
(671,020)
(17,442)
3,378
(685,084)
2,717
(682,367)
42,764
(639,603)
(46,297)
(685,900) $
(2.95) $
(2.95) $
232,717
232,717
153,505
72,461
81,044
63,476
56,093
94,488
4,364
218,421
(137,377)
(5,615)
383
(142,609)
44,978
(97,631)
(595)
(98,226)
(98,226)
(0.99)
(0.99)
99,645
99,645
blend
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