Blend Labs (BLND) 10-Q 8 Aug 24 2024 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2024	Jul. 31, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-40599
Entity Registrant Name	BLEND LABS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	45-5211045
Entity Address, Address Line One	415 Kearny Street
Entity Address, City or Town	San Francisco
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94108
City Area Code	650
Local Phone Number	550-4810
Title of 12(b) Security	Class A common stock, par value $0.00001 per share
Trading Symbol	BLND
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Document Period Focus	Q2
Entity Central Index Key	0001855747
Amendment Flag	false
Class A Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		249,496,552
Class B Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		4,747,235
Class C Common Stock
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		0

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 45,450	$ 30,962
Marketable securities and other investments	67,153	105,960
Trade and other receivables, net of allowance for credit losses of $91 and $149, respectively	19,602	18,345
Prepaid expenses and other current assets	10,315	14,569
Total current assets	142,520	169,836
Property and equipment, net	7,617	3,945
Operating lease right-of-use assets	7,516	8,565
Intangible assets, net	2,099	2,108
Deferred contract costs	2,020	2,453
Restricted cash, non-current	7,294	7,291
Other non-current assets	16,344	11,867
Total assets	185,410	206,065
Current liabilities:
Accounts payable	1,084	2,170
Deferred revenue	20,832	8,984
Accrued compensation	3,225	5,562
Other current liabilities	16,383	14,858
Total current liabilities	41,524	31,574
Operating lease liabilities, non-current	5,172	6,982
Other non-current liabilities	1,571	2,228
Debt, non-current, net	0	138,334
Total liabilities	48,267	179,118
Commitments and contingencies (Note 8)
Redeemable noncontrolling interest	49,169	46,190
Series A redeemable convertible preferred stock, par value $0.00001 per share: 200,000 shares authorized, 150 and 0 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively (Note 10)	133,445	0
Stockholders’ equity:
Common stock	2	2
Additional paid-in capital	1,335,928	1,321,944
Accumulated other comprehensive loss	304	441
Accumulated deficit	(1,381,705)	(1,341,630)
Total stockholders’ equity	(45,471)	(19,243)
Total liabilities, redeemable equity and stockholders’ equity	185,410	206,065
Series A Redeemable Convertible Preferred Stock
Current liabilities:
Series A redeemable convertible preferred stock, par value $0.00001 per share: 200,000 shares authorized, 150 and 0 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively (Note 10)	$ 133,445	$ 0

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Accounts receivable, allowance for credit loss, current	$ 91	$ 149
Temporary equity, shares outstanding (in shares)	150,000	0
Common stock, shares authorized (in shares)	3,000,000,000	3,000,000,000
Common stock, shares issued (in shares)	254,207,000	249,910,000
Common stock, shares outstanding (in shares)	254,207,000	249,910,000
Series A Redeemable Convertible Preferred Stock
Temporary equity, par value (in dollars per share)	$ 0.00001	$ 0.00001
Temporary equity, shares authorized (in shares)	200,000,000	200,000,000
Temporary equity, shares issued (in shares)	150,000	0
Temporary equity, shares outstanding (in shares)	150,000	0
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	1,800,000,000	1,800,000,000
Common stock, shares issued (in shares)	248,985,000	240,262,000
Common stock, shares outstanding (in shares)	248,985,000	240,262,000
Class B Common Stock
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	600,000,000	600,000,000
Common stock, shares issued (in shares)	5,222,000	9,648,000
Common stock, shares outstanding (in shares)	5,222,000	9,648,000
Class C Common Stock
Common stock, par value (in dollars per share)	$ 0.00001	$ 0.00001
Common stock, shares authorized (in shares)	600,000,000	600,000,000
Common stock, shares issued (in shares)	0	0
Common stock, shares outstanding (in shares)	0	0

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenue
Total revenue	$ 40,480	$ 42,815	$ 75,427	$ 80,151
Cost of revenue
Total cost of revenue	18,802	19,322	35,608	40,805
Gross profit	21,678	23,493	39,819	39,346
Operating expenses:
Research and development	12,916	22,091	27,099	48,348
Sales and marketing	9,370	16,128	19,585	33,696
General and administrative	12,524	19,646	26,459	40,327
Restructuring	207	2,349	1,190	15,132
Total operating expenses	35,017	60,214	74,333	137,503
Loss from operations	(13,339)	(36,721)	(34,514)	(98,157)
Interest expense	(1,648)	(7,947)	(6,747)	(15,516)
Other income (expense), net	(4,411)	3,232	1,242	6,114
Loss before income taxes	(19,398)	(41,436)	(40,019)	(107,559)
Income tax expense	(23)	(53)	(65)	(124)
Net loss	(19,421)	(41,489)	(40,084)	(107,683)
Less: Net loss attributable to noncontrolling interest	14	258	9	1,035
Net loss attributable to Blend Labs, Inc.	(19,407)	(41,231)	(40,075)	(106,648)
Less: Accretion of redeemable noncontrolling interest to redemption value	(1,527)	(1,592)	(2,988)	(3,648)
Less: Accretion of redeemable noncontrolling interest to redemption value	(2,661)	0	(2,661)	0
Net loss attributable to Blend Labs, Inc. common stockholders, basic	(23,595)	(42,823)	(45,724)	(110,296)
Net loss attributable to Blend Labs, Inc. common stockholders, diluted	$ (23,595)	$ (42,823)	$ (45,724)	$ (110,296)
Net loss per share attributable to Blend Labs, Inc. common stockholders:
Basic (in dollars per share)	$ (0.09)	$ (0.18)	$ (0.18)	$ (0.45)
Diluted (in dollars per share)	$ (0.09)	$ (0.18)	$ (0.18)	$ (0.45)
Weighted average shares used in calculating net loss per share:
Basic (in shares)	253,069	244,262	252,000	242,861
Diluted (in shares)	253,069	244,262	252,000	242,861
Comprehensive loss:
Net loss	$ (19,421)	$ (41,489)	$ (40,084)	$ (107,683)
Unrealized (loss) gain on marketable securities	(42)	(773)	(146)	48
Foreign currency translation (loss) gain	0	(11)	9	(29)
Comprehensive loss	(19,463)	(42,273)	(40,221)	(107,664)
Less: Comprehensive loss attributable to noncontrolling interest	14	258	9	1,035
Comprehensive loss attributable to Blend Labs, Inc.	(19,449)	(42,015)	(40,212)	(106,629)
Software platform
Revenue
Total revenue	26,475	28,115	48,211	51,085
Cost of revenue
Total cost of revenue	5,674	5,486	10,849	11,289
Professional services
Revenue
Total revenue	2,221	2,216	4,325	3,950
Cost of revenue
Total cost of revenue	2,681	2,705	5,304	5,511
Title
Revenue
Total revenue	11,784	12,484	22,891	25,116
Cost of revenue
Total cost of revenue	$ 10,447	$ 11,131	$ 19,455	$ 24,005

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Redeemable Noncontrolling Interest, Series A Redeemable Convertible Preferred Stock, and Stockholders’ Equity - USD ($) shares in Thousands, $ in Thousands	Total	Redeemable Noncontrolling Interest	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income	Accumulated Deficit
Beginning balance at Dec. 31, 2022	$ 123,172	$ 40,749	$ 2	$ 1,286,815	$ (708)	$ (1,162,937)
Beginning balance (in shares) at Dec. 31, 2022			240,931
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options, net of repurchases (in shares)			17
Issuance of common stock upon exercise of stock options, net of repurchases	134			134
Vesting of early exercised stock options	758			758
Vesting of restricted stock units (in shares)			4,228
Shares withheld related to net share settlement of equity awards (in shares)			(1,568)
Shares withheld related to net share settlement of equity awards	(2,440)			(2,440)
Stock-based compensation	16,392			16,392
Unrealized loss on investments in marketable securities	821				821
Foreign currency translation gain	(18)				(18)
Accretion of redeemable noncontrolling interest to redemption value	(2,056)	2,056		(2,056)
Net income (loss)	(65,417)	(777)				(65,417)
Ending balance (in shares) at Mar. 31, 2023			243,608
Ending balance at Mar. 31, 2023	71,346	42,028	$ 2	1,299,603	95	(1,228,354)
Increase (Decrease) in Temporary Equity [Roll Forward]
Accretion of redeemable noncontrolling interest to redemption value	0
Beginning balance at Dec. 31, 2022	123,172	40,749	$ 2	1,286,815	(708)	(1,162,937)
Beginning balance (in shares) at Dec. 31, 2022			240,931
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accretion of redeemable noncontrolling interest to redemption value	(3,648)
Net income (loss)	(106,648)
Ending balance (in shares) at Jun. 30, 2023			245,775
Ending balance at Jun. 30, 2023	41,267	43,362	$ 2	1,311,539	(689)	(1,269,585)
Increase (Decrease) in Temporary Equity [Roll Forward]
Accretion of redeemable noncontrolling interest to redemption value	0
Beginning balance at Mar. 31, 2023	71,346	42,028	$ 2	1,299,603	95	(1,228,354)
Beginning balance (in shares) at Mar. 31, 2023			243,608
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Vesting of early exercised stock options	256			256
Vesting of restricted stock units (in shares)			3,304
Shares withheld related to net share settlement of equity awards (in shares)			(1,137)
Shares withheld related to net share settlement of equity awards	(1,092)			(1,092)
Stock-based compensation	14,364			14,364
Unrealized loss on investments in marketable securities	(773)				(773)
Foreign currency translation gain	(11)				(11)
Accretion of redeemable noncontrolling interest to redemption value	(1,592)	1,592		(1,592)
Net income (loss)	(41,231)	(258)				(41,231)
Ending balance (in shares) at Jun. 30, 2023			245,775
Ending balance at Jun. 30, 2023	$ 41,267	43,362	$ 2	1,311,539	(689)	(1,269,585)
Beginning temporary equity (in shares) at Dec. 31, 2023	0
Beginning temporary equity at Dec. 31, 2023	$ 0
Ending temporary equity (in shares) at Mar. 31, 2024	0
Ending temporary equity at Mar. 31, 2024	$ 0
Beginning balance at Dec. 31, 2023	$ (19,243)	46,190	$ 2	1,321,944	441	(1,341,630)
Beginning balance (in shares) at Dec. 31, 2023	249,910		249,910
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options, net of repurchases (in shares)			410
Issuance of common stock upon exercise of stock options, net of repurchases	$ 619			619
Vesting of early exercised stock options	184			184
Vesting of restricted stock units (in shares)			3,257
Shares withheld related to net share settlement of equity awards (in shares)			(1,258)
Shares withheld related to net share settlement of equity awards	(3,806)			(3,806)
Stock-based compensation	8,707			8,707
Unrealized loss on investments in marketable securities	(104)				(104)
Foreign currency translation gain	9				9
Accretion of redeemable noncontrolling interest to redemption value	(1,461)	1,461		(1,461)
Net income (loss)	(20,668)	5				(20,668)
Ending balance (in shares) at Mar. 31, 2024			252,319
Ending balance at Mar. 31, 2024	$ (35,763)	47,656	$ 2	1,326,187	346	(1,362,298)
Beginning temporary equity (in shares) at Dec. 31, 2023	0
Beginning temporary equity at Dec. 31, 2023	$ 0
Increase (Decrease) in Temporary Equity [Roll Forward]
Accretion of redeemable noncontrolling interest to redemption value	$ (2,661)
Ending temporary equity (in shares) at Jun. 30, 2024	150
Ending temporary equity at Jun. 30, 2024	$ 133,445
Beginning balance at Dec. 31, 2023	$ (19,243)	46,190	$ 2	1,321,944	441	(1,341,630)
Beginning balance (in shares) at Dec. 31, 2023	249,910		249,910
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Accretion of redeemable noncontrolling interest to redemption value	$ (2,988)
Net income (loss)	$ (40,075)
Ending balance (in shares) at Jun. 30, 2024	254,207		254,207
Ending balance at Jun. 30, 2024	$ (45,471)	49,169	$ 2	1,335,928	304	(1,381,705)
Beginning temporary equity (in shares) at Mar. 31, 2024	0
Beginning temporary equity at Mar. 31, 2024	$ 0
Increase (Decrease) in Temporary Equity [Roll Forward]
Issuance of Series A Preferred Stock, net of issuance costs (in shares)	150
Issuance of Series A redeemable convertible preferred stock, net of issuance costs	$ 130,784
Accretion of redeemable noncontrolling interest to redemption value	$ (2,661)
Ending temporary equity (in shares) at Jun. 30, 2024	150
Ending temporary equity at Jun. 30, 2024	$ 133,445
Beginning balance at Mar. 31, 2024	(35,763)	47,656	$ 2	1,326,187	346	(1,362,298)
Beginning balance (in shares) at Mar. 31, 2024			252,319
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options, net of repurchases (in shares)			62
Issuance of common stock upon exercise of stock options, net of repurchases	95			95
Vesting of early exercised stock options	172			172
Vesting of restricted stock units (in shares)			2,887
Shares withheld related to net share settlement of equity awards (in shares)			(1,061)
Shares withheld related to net share settlement of equity awards	(3,213)			(3,213)
Stock-based compensation	7,764			7,764
Unrealized loss on investments in marketable securities	(42)				(42)
Accretion of redeemable noncontrolling interest to redemption value	(1,527)	1,527		(1,527)
Issuance of the Warrant in connection with the Series A redeemable convertible preferred stock	9,111			9,111
Net income (loss)	$ (19,407)	(14)				(19,407)
Ending balance (in shares) at Jun. 30, 2024	254,207		254,207
Ending balance at Jun. 30, 2024	$ (45,471)	$ 49,169	$ 2	$ 1,335,928	$ 304	$ (1,381,705)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended				6 Months Ended		12 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Operating activities
Net loss	$ (19,421)		$ (41,489)		$ (40,084)	$ (107,683)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation					15,342	30,756
Depreciation and amortization					1,122	1,256
Amortization of deferred contract costs	300		700		519	1,745
Amortization of debt discount and issuance costs					690	1,489
Amortization of operating lease right-of-use assets					1,703	1,615
Gain on investment in equity securities					(4,417)	0
Loss on extinguishment of debt					5,476	0	$ 4,000
Other					(326)	(3,372)
Changes in operating assets and liabilities:
Trade and other receivables					(1,227)	1,320
Prepaid expenses and other assets, current and non-current					3,453	(3,911)
Deferred contract costs, non-current					433	(776)
Accounts payable					(1,489)	1,889
Deferred revenue					11,848	3,275
Accrued compensation					(2,337)	(5,318)
Operating lease liabilities					(2,146)	(1,917)
Other liabilities, current and non-current					906	(1,411)
Net cash used in operating activities					(10,534)	(81,043)
Investing activities
Purchases of marketable securities					(76,529)	(194,957)
Sale of available-for-sale securities					100,297	0
Maturities of marketable securities					15,600	197,709
Additions to property, equipment, internal-use software development costs and intangible assets					(3,831)	(474)
Net cash provided by investing activities					35,537	2,278
Financing activities
Proceeds from exercises of stock options, including early exercises, net of repurchases					714	22
Taxes paid related to net share settlement of equity awards					(7,019)	(3,532)
Repayment of long-term debt					(144,500)	0
Net proceeds from the issuance of the Series A redeemable convertible preferred stock and the Warrant					149,375	0
Payment for issuance costs related to the Series A redeemable convertible preferred stock and the Warrant					(9,077)	0
Net cash used in financing activities					(10,507)	(3,510)
Effect of exchange rates on cash, cash equivalents, and restricted cash					(5)	13
Net increase (decrease) in cash, cash equivalents, and restricted cash					14,491	(82,262)
Cash, cash equivalents, and restricted cash at beginning of period		$ 38,253		$ 129,557	38,253	129,557	129,557
Cash, cash equivalents, and restricted cash at end of period	52,744		47,295		52,744	47,295	38,253
Reconciliation of cash, cash equivalents, and restricted cash within the condensed consolidated balance sheets:
Cash and cash equivalents	45,450		34,980		45,450	34,980	30,962
Restricted cash	7,294		12,315		7,294	12,315
Total cash, cash equivalents, and restricted cash	52,744		47,295		52,744	47,295	$ 38,253
Supplemental disclosure of cash flow information:
Cash paid for income taxes					76	48
Cash paid for interest					6,150	14,100
Supplemental disclosure of non-cash investing and financing activities:
Vesting of early exercised stock options					356	1,014
Operating lease liabilities arising from obtaining new or modified right-of-use assets					654	327
Stock-based compensation included in capitalized internal-use software development costs	500		0		1,130	0
Accretion of redeemable noncontrolling interest to redemption value	1,527	$ 1,461	1,592	$ 2,056	2,988	3,648
Accretion of Series A redeemable convertible preferred stock to redemption value	$ 2,661		$ 0		2,661	0
Issuance costs accrued in connection with the Series A redeemable convertible preferred stock and the Warrant					$ 403	$ 0

Description of Business and Bas

Description of Business and Basis of Presentation	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business and Basis of Presentation	Description of Business and Basis of Presentation Description of Business Blend Labs, Inc. (the “Company,” “Blend,” “we,” “us,” or “our”) was incorporated on April 17, 2012. The Company offers a cloud-based software platform for financial services firms that is designed to power the end-to-end consumer journey for banking products. The Company’s solutions make the journey from application to close fast, simple, and transparent for consumers, while helping financial services firms increase productivity, deepen customer relationships, and deliver exceptional consumer experiences. Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated balance sheets as of June 30, 2024 and December 31, 2023, the unaudited condensed consolidated statements of operations and comprehensive income (loss) for the three and six months ended June 30, 2024 and 2023, the unaudited condensed consolidated statements of redeemable noncontrolling interest, Series A Redeemable Convertible Preferred Stock (the “Series A redeemable convertible preferred stock” or “Series A Preferred Stock”), and stockholders’ equity for the three and six months ended June 30, 2024 and 2023, and the unaudited condensed consolidated statements of cash flows for the six months ended June 30, 2024 and 2023 reflect all adjustments that are of a normal, recurring nature and that are considered necessary for a fair statement of the results for the periods shown in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and the applicable rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”) for interim financial reporting periods. Accordingly, certain information and footnote disclosures have been condensed or omitted that would ordinarily be required under U.S. GAAP for complete financial statements. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023. The accompanying unaudited condensed consolidated financial statements include the accounts of Blend Labs, Inc. and its subsidiaries in which the Company holds a controlling financial interest. Noncontrolling interest represents the minority stockholder’s share of the net income or loss and equity in a consolidated subsidiary. All intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make, on an ongoing basis, estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and the notes thereto. Actual results may differ from those estimates. Such estimates include, but are not limited to, estimates of variable consideration, evaluation of contingencies, determination of the incremental borrowing rates used in calculations of lease liabilities, determination of fair values of stock-based compensation, marketable securities, determination of the fair value of each of the Series A Preferred Stock and the Warrant, valuation of deferred tax assets, valuation of acquired intangible assets, valuation of the redeemable noncontrolling interest, determination of useful lives of tangible and intangible assets and capitalized internal-use software development costs, assessment of impairment of long-lived assets, and valuation of equity securities without readily determinable fair value. Risks and Uncertainties The Company has been and may continue to be affected by various macroeconomic factors, including interest rate environment, housing affordability, and worldwide political and economic conditions. The global financial markets have recently experienced extreme volatility and disruptions, including diminished liquidity and credit availability, declines in consumer confidence, declines in economic growth, rising interest rates, inflation, increases in unemployment rates and uncertainty about economic stability. The real estate environment, including interest rates and the general economic environment, typically impacts the demand for mortgage and mortgage related products. Recent changes in these areas have impacted the Company’s results of operations. Purchase volume and refinance activity were strong in 2021 and 2020 relative to historical averages over the preceding decade; however, an increase in interest rates due to efforts by the U.S. Federal Reserve (the “Federal Reserve”) to manage rising inflation, combined with ongoing supply constraints, resulted in a decline in mortgage origination activity for 2022 and 2023. The demand for mortgage and mortgage related products continued to be sensitive to these factors, and any material changes in Federal Reserve policy, interest rates or housing supply are expected to impact overall origination activity levels during 2024. The Company’s operations are principally funded by available liquidity from cash, cash equivalents and investments. The Company has incurred net losses in each period since inception, and its limited operating history in an evolving industry makes it difficult to accurately forecast the impact of macroeconomic or other external factors on its business and may increase the risk that the Company may not be able to achieve or maintain profitability in the future, or otherwise suffers adverse impacts on its operational and financial results.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies The Company’s significant accounting policies are described in Note 2, Summary of Significant Accounting Policies, of the Notes to the Consolidated Financial Statements in its Annual Report on Form 10-K for the year ended December 31, 2023. There have been no significant changes to these policies during the three and six months ended June 30, 2024, with the exception of the policy related to the issuance of the Series A Preferred Stock as described below. Cash and Cash Equivalents The Company places its cash with high credit quality and federally insured institutions. Cash with any one institution may be in excess of federally insured limits. The Company has not experienced any losses in such accounts and believes the exposure to credit risk is not significant. The Company considers all highly liquid investments with an original maturity date of three months or less at the time of purchase to be cash equivalents. As of June 30, 2024 and December 31, 2023, cash and cash equivalents consisted of cash, money market accounts, and highly liquid investments with original maturities less than 90 days. The carrying amounts reported in the unaudited condensed consolidated balance sheets for cash and cash equivalents approximate fair value due to the short-term nature of the investments. Restricted Cash The Company has classified cash that is not available for use in its operations as restricted cash. Restricted cash consists primarily of collateral for letters of credit related to security deposits for the Company’s office facility lease arrangements and collateral for surety bonds related to the Title segment. As of June 30, 2024 and December 31, 2023, the Company had restricted cash of $7.3 million , all of which was classified as non-current. Trade and Other Receivables and Credit Loss Reserves The Company reports trade and other receivables net of the allowance for credit losses, in accordance with Accounting Standards Codification (“ASC”) 326, Financial Instruments—Credit Losses. ASC 326 requires an entity to recognize an allowance that reflects the entity’s current estimate of credit losses expected to be incurred over the life of the financial instrument. The Company’s estimate of expected credit losses is determined based on expected lifetime loss rates calculated from historical data and adjusted for the impact of current and future conditions, such as the age of outstanding receivables, historical payment patterns, any known or expected changes to the customers’ ability to fulfill their payment obligations, or assessment of broader economic conditions that may impact the customers’ ability to pay the outstanding balances. As of each of June 30, 2024 and December 31, 2023, the reserve for expected credit losses was $0.1 million. The provision for expected credit losses and the uncollectible portion of the receivables written off against reserve for expected credit losses were not material for the three and six months ended June 30, 2024 and 2023. Capitalized Internal-Use Software The Company capitalizes certain costs incurred in the development of its platform and product offerings when (i) the preliminary project stage is completed, (ii) management has authorized further funding for the completion of the project, and (iii) it is probable that the project will be completed and performed as intended. These capitalized costs include personnel and related expenses and stock-based compensation for employees who are directly associated with and who devote time to internal-use software projects. Capitalization of these costs ceases once the project is substantially complete and the software is ready for its intended purpose. Costs incurred for significant upgrades and enhancements to the existing software are also capitalized, while the costs incurred for minor modifications, as well as training and maintenance are expensed as incurred. The capitalized internal-use software development costs are reported in property and equipment, net, in the condensed consolidated balance sheets. Capitalized internal-use software development costs are amortized using the straight-line method over an estimated useful life of the software, as the straight-line recognition method best approximates the manner in which the expected benefit will be derived. The Company does not transfer ownership of its software, license, or lease the software to third parties. Concentrations of Credit Risk and Significant Customers Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash, marketable securities, and trade accounts receivable. The Company maintains its cash equivalents primarily in money market funds and highly liquid investments that are issued or guaranteed by the United States government or its agencies. As of June 30, 2024 and December 31, 2023, cash and cash equivalents was $45.5 million and $31.0 million, respectively, and includ ed $2.6 million and $1.9 million, respectively, of cash held in a foreign jurisdiction. Collateral is not required for trade accounts receivable. Title365 has agreements with insurance underwriters authorizing the Company to issue title insurance policies on behalf of the insurance underwriters. The policies are underwritten by two title insurance companies, which accounted for approximately 60% and 40% during the six months ended June 30, 2024, and 71% and 29% during the six months ended June 30, 2023, respectively, of title policy fees earned during the period. The following customer comprised 10% or more of the Company’s revenue for the following periods: Three Months Ended June 30, Six Months Ended June 30, Customer 2024 2023 2024 2023 A 1 13% 18% 15% 18% (1) this customer generates revenue in both Blend Platform and Title segments The following customers comprised 10% or more of the Company’s trade and unbilled receivables: Customer June 30, 2024 December 31, 2023 A 16% 10% B N/A 1 13% (1) trade and unbilled receivable balance from this customer did not exceed 10% as of the date presented Redeemable Noncontrolling Interest The Company’s 90.1% ownership of Title365 results in recognition of 9.9% noncontrolling interest, which represents the minority stockholder’s share of the net income and equity in Title365. The Title365 stockholders agreement includes a provision whereby the Company has a call option to purchase the 9.9% noncontrolling interest at a purchase price equal to the greater of (1) $49.5 million plus an amount of interest calculated using an interest rate of 5.0% per annum compounding annually; or (2) 4.4 multiplied by the trailing 12-month EBITDA multiplied by the noncontrolling interest ownership percentage (the “Title365 Call Option”). The Title365 Call Option became exercisable beginning 2 years following the acquisition closing date. The noncontrolling interest holder also holds an option to compel the Company to purchase the remaining 9.9% noncontrolling interest at a price calculated in the same manner as the Title365 Call Option (the “Title365 Put Option”). The Title365 Put Option is exercisable beginning 5 years following the acquisition closing date. Neither the Title365 Call Option nor the Title365 Put Option have an expiration date. However, pursuant to the Title365 stockholders agreement, the Company also has certain bring-along rights that it can exercise under certain circumstances, which may result in the Title365 Put Option being extinguished. As the Title365 Put Option is not solely within the Company’s control, the Company classified this interest as redeemable noncontrolling interest (“RNCI”) within the mezzanine equity section of the unaudited condensed consolidated balance sheets. The RNCI is accreted to the redemption value under the interest method from the acquisition date through the date the Title365 Put Option becomes exercisable. At each balance sheet date, the RNCI is reported at the greater of the initial carrying amount adjusted for the RNCI's share of earnings or losses and other comprehensive income or loss, or its accreted redemption value. The changes in the redemption amount are recorded with corresponding adjustments against retained earnings or, in the absence of retained earnings, additional paid-in-capital. For each reporting period, the entire periodic change in the redemption amount is reflected in the computation of net loss per share under the two-class method as being akin to a dividend. As of June 30, 2024 and December 31, 2023, the redemption amount of the Title365 Put Option as if it was currently redeemable was $57.3 million and $55.9 million, respectively. Series A Preferred Stock On April 29, 2024, the Company entered into an Investment Agreement (the “Investment Agreement”) with Haveli Brooks Aggregator, L.P. (“Haveli”) and issued 150,000 shares of the Company’s Series A Preferred Stock. The Series A Preferred Stock is classified as mezzanine equity due to the redemption features that are not solely within the Company’s control. The Series A Preferred Stock is accreted to its maximum redemption value over the seven year term, using the effective interest method. The increases in the redemption amount are recorded with corresponding adjustments against additional paid-in capital, in the absence of retained earnings. For each reporting period, the entire periodic change in the redemption amount is reflected in the computation of net loss per share under the two-class method as being akin to a dividend, by reducing the income (or increasing the loss) attributable to common stockholders. JOBS Act Accounting Election As an emerging growth company (“EGC”), the Jumpstart Our Business Startups Act (“JOBS Act”) allows the Company to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are applicable to private companies (that is, those that have not had a Securities Act of 1933, as amended (the “Securities Act”), registration statement declared effective or do not have a class of securities registered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)). The Company intends to use this extended transition period under the JOBS Act until such time as the Company is no longer considered to be an EGC. The adoption dates discussed below reflect this election. Recently Adopted Accounting Standards In August 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40) . The guidance simplifies the accounting for convertible debt instruments and convertible preferred stock by removing the existing guidance in ASC 470-20 that requires entities to account for beneficial conversion features and cash conversion features in equity separately from the host convertible debt or preferred stock. The guidance is effective for the Company for annual reporting periods, and interim reporting periods within those annual periods, beginning January 1, 2024. ASU 2020-06 should be applied on a full or modified retrospective basis and early adoption is permitted. The adoption did not have a material impact on the Company’s consolidated financial statements. In June 2022, the FASB issued ASU No. 2022-03, Fair Value Measurement (Topic 820). This update clarifies the guidance in Topic 820 when measuring the fair value of an equity security subject to contractual restrictions that prohibit the sale of an equity security and introduces new disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value in accordance with Topic 820. The amendments affect all entities that have investments in equity securities measured at fair value that are subject to a contractual sale restriction. The guidance is effective for the Company for annual reporting periods, and interim reporting periods within those annual periods, beginning January 1, 2024. Early adoption is permitted. The adoption did not have a material impact on the Company’s consolidated financial statements. Recently Issued Accounting Standards Not Yet Adopted In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280). This update improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, for all public entities to enable investors to develop more decision-useful financial analyses. The guidance is effective for the Company for annual reporting periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the impact this ASU will have on its consolidated financial statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740). This update improves the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. The guidance is effective for the Company for annual reporting periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The Company is currently evaluating the impact this ASU will have on its consolidated financial statements.

Revenue Recognition and Contrac

Revenue Recognition and Contract Costs	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue Recognition and Contract Costs	Revenue Recognition and Contract Costs Disaggregation of Revenue The following table provides information about disaggregated revenue by service offering: Three months ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (In thousands) Blend Platform: Mortgage Suite $ 18,454 $ 22,271 $ 33,532 $ 40,066 Consumer Banking Suite 8,021 5,844 14,679 11,019 Total software platform 26,475 28,115 48,211 51,085 Professional services 2,221 2,216 4,325 3,950 Total Blend Platform 28,696 30,331 52,536 55,035 Title 11,784 12,484 22,891 25,116 Total revenue $ 40,480 $ 42,815 $ 75,427 $ 80,151 Contract Balances The following table provides information about contract assets and contract liabilities from contracts with customers: Contract Accounts Balance Sheet Line Reference June 30, 2024 December 31, 2023 (In thousands) Contract assets—current Prepaid expenses and other current assets $ 1,059 $ 1,593 Contract liabilities—current Deferred revenue, current $ (20,832) $ (8,984) There were no long-term contract assets or deferred revenue as of June 30, 2024 and December 31, 2023. During the three months ended June 30, 2024 and 2023, the Company recognized $7.8 million and $4.9 million, respectively, of revenue that was included in the deferred revenue balances at the beginning of the respective periods. During the six months ended June 30, 2024 and 2023, the Company recognized $5.7 million and $6.1 million, respectively, of revenue that was included in the deferred revenue balances at the beginning of the respective periods. During the three and six months ended June 30, 2024, the Company reduced revenue by $1.0 million and $1.1 million, respectively, related to performance obligations satisfied in previous periods. During the three and six months ended June 30, 2023, the Company recognized revenue of approximately $0.8 million and $1.7 million, respectively, related to performance obligations satisfied in previous periods. The revenue reduced or recognized from performance obligations satisfied in the prior periods primarily related to changes in the transaction price, including changes in the estimate of variable consideration. Remaining Performance Obligations As of June 30, 2024, the aggregate amount of the transaction price allocated to the remaining performance obligations was $87.4 million. These remaining performance obligations represent commitments in customer contracts for services expected to be provided in the future that have not been recognized as revenue. The expected timing of revenue recognition for these commitments is largely driven by the Company’s ability to deliver in accordance with relevant contract terms and when the Company’s customers utilize services, which could affect the Company’s estimate of when the Company expects to recognize revenue for these remaining performance obligations. The Company expects to recognize approximately half of the remaining performance obligations as revenue over the next 12 months. The Company expects the majority of non-current remaining performance obligations to be recognized over the next 13 to 24 months. Deferred Contract Costs As of June 30, 2024 and December 31, 2023, total unamortized deferred contract costs were $3.0 million and $3.5 million, respectively, of which $1.0 million and $1.0 million was recorded within prepaid expenses and other current assets and $2.0 million and $2.5 million was recorded within deferred contract costs, non-current, on the unaudited condensed consolidated balance sheets as of June 30, 2024 and December 31, 2023, respectively. The amortization of deferred contract costs was $0.3 million and $0.7 million for the three months ended June 30, 2024 and 2023, respectively, and $0.5 million and $1.7 million for the six months ended June 30, 2024 and 2023, respectively, and is included in sales and marketing expense in the accompanying unaudited condensed consolidated statements of operations and comprehensive income (loss).

Investments and Fair Value Meas

Investments and Fair Value Measurements	6 Months Ended
	Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Investments and Fair Value Measurements	Investments and Fair Value Measurements The carrying amount, unrealized gain and loss, and fair value of investments by major security type were as follows: June 30, 2024 Amortized Gross Gross Fair Value Fair Value Hierarchy (In thousands) Cash equivalents: Money market funds $ 15,679 $ — $ — $ 15,679 Level 1 Commercial paper 21,972 — — 21,972 Level 2 Total cash equivalents 37,651 — — 37,651 Marketable securities: U.S. treasury and agency securities 35,698 — (51) 35,647 Level 2 Commercial paper 19,431 — — 19,431 Level 2 Debt securities 12,072 12 (9) 12,075 Level 2 Total marketable securities 67,201 12 (60) 67,153 Restricted cash, non-current: Money market funds 6,961 — — 6,961 Level 1 Certificates of deposit 333 — — 333 Level 2 Total restricted cash 7,294 — — 7,294 Total $ 112,147 $ 12 $ (60) $ 112,099 December 31, 2023 Amortized Gross Gross Fair Value Fair Value Hierarchy (In thousands) Cash equivalents: Money market funds $ 6,804 $ — $ — $ 6,804 Level 1 Commercial paper 14,932 — — 14,932 Level 2 Total cash equivalents 21,736 — — 21,736 Marketable securities: U.S. treasury and agency securities 33,225 8 (71) 33,162 Level 2 Debt securities 56,512 187 (127) 56,572 Level 2 Asset-backed securities 16,037 99 — 16,136 Level 2 Mutual funds 60 — — 60 Level 1 Total marketable securities 105,834 294 (198) 105,930 Other investments: Certificates of deposit 30 — — 30 Level 2 Total marketable securities and other investments 105,864 294 (198) 105,960 Restricted cash, non-current: Money market funds 6,959 — — 6,959 Level 1 Certificates of deposit 332 — — 332 Level 2 Total restricted cash 7,291 — — 7,291 Total $ 134,891 $ 294 $ (198) $ 134,987 Restricted cash that is not available for use in operations consisted of $5.0 million collateral for standby letters of credit related to the Company’s office lease facilities, $1.9 million collateral for surety bonds related to the Title segment and $0.3 million statutory deposits required under the California insurance code as of June 30, 2024 and December 31, 2023. Marketable securities consist primarily of U.S. treasury and agency securities, commercial paper, and corporate debt securities. The Company classifies its marketable securities as available-for-sale securities at the time of purchase and reevaluates such classification at each balance sheet date. The Company has classified its investments as current based on the nature of the investments and their availability for use in current operations. The fair value of the Company’s investments in money market funds classified as Level 1 of the fair value hierarchy is based on real-time quotes for transactions in active exchange markets involving identical assets. The fair value of the Company’s investments in commercial paper and marketable securities classified as Level 2 of the fair value hierarchy is based on quoted market prices for similar instruments. The Company’s certificates of deposit are short-term in nature and are carried at amortized cost, which approximates fair value; as such, the certificates of deposit are classified within Level 2 of the fair value hierarchy. The following table summarizes the stated maturities of the Company’s marketable securities and other investments: June 30, 2024 December 31, 2023 (In thousands) Due within one year $ 39,715 $ 66,620 Due after one year through two years 27,438 39,340 Total marketable securities and other investments $ 67,153 $ 105,960 The Company evaluates marketable securities in unrealized loss positions to determine whether the impairment is due to credit-related factors or other factors. The Company considers the extent to which the fair value is less than cost, the financial condition and near-term prospects of the security issuer, and the intent and ability of the Company to retain its investment in the security for a period of time sufficient to allow for any anticipated recovery in fair value. The Company does not have an intent to sell any of these securities prior to maturity and believes that it is more likely than not that the Company will not have to sell any such securities before a recovery of cost. The fair value is expected to recover as the securities approach their maturity date. Accordingly, as of June 30, 2024, the Company believes that the unrealized losses are due to noncredit-related factors, including changes in interest rates and other market conditions, and therefore no impairment charges or allowance for credit losses have been recognized in the Company’s unaudited condensed consolidated statements of operations for the three and six months ended June 30, 2024 and 2023. As of June 30, 2024 and December 31, 2023, the number of investment positions that are in an unrealized loss position were 21 and 28, respectively. As of June 30, 2024, the Company had no securities that have been in a continuous unrealized loss position for twelve months or greater. As of December 31, 2023, the Company had four securities, with an aggregate fair value of $16.0 million , that have been in a continuous unrealized loss position for twelve months or greater. The Company determines realized gains or losses on the sale of marketable securities based on a specific identification method. The Company recognized interest income from its investment portfolio of $1.5 million and $3.2 million for the three months ended June 30, 2024 and 2023, respectively and $2.7 million and $6.1 million for the six months ended June 30, 2024 and 2023, respectively. Accrued interest receivable related to marketable securities was $0.3 million and $0.9 million, as of June 30, 2024 and December 31, 2023, respectively, and is presented within prepaid expenses and other current assets on the unaudited condensed consolidated balance sheets. The Company does not measure an allowance for credit losses on accrued interest receivable and recognizes interest receivable write offs as a reversal of interest income. No accrued interest was written off during the three and six months ended June 30, 2024 and 2023.

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets Intangible assets consisted of the following: June 30, 2024 Weighted Average Remaining Amortization Gross Amount Accumulated Amortization Net Book Value (In years) (In thousands) Intangible assets subject to amortization: Domain name 7.2 $ 206 $ (107) $ 99 Indefinite-lived intangible assets: Acquired licenses 2,000 — 2,000 Total intangible assets, net $ 2,206 $ (107) $ 2,099 December 31, 2023 Weighted Average Remaining Amortization Gross Amount Accumulated Amortization Net Book Value (In years) (In thousands) Intangible assets subject to amortization: Domain name 7.7 $ 210 $ (102) $ 108 Indefinite-lived intangible assets: Acquired licenses 2,000 — 2,000 Total intangible assets, net $ 2,210 $ (102) $ 2,108 Amortization of intangible assets for the three and six months ended June 30, 2024 and 2023 was immaterial.

Significant Balance Sheet Compo

Significant Balance Sheet Components	6 Months Ended
	Jun. 30, 2024
Supplemental Balance Sheet Information [Abstract]
Significant Balance Sheet Components	Significant Balance Sheet Components Prepaid Expenses and Other Current Assets Prepaid expenses and other current assets consisted of the following: June 30, 2024 December 31, 2023 (In thousands) Contract assets $ 1,059 $ 1,593 Deferred contract costs 1,025 1,015 Prepaid software 3,557 4,319 Prepaid insurance 487 1,855 Prepaid other 2,697 3,438 Recording fee advances 220 470 Other current assets 1,270 1,879 Total prepaid expenses and other current assets $ 10,315 $ 14,569 Recording fee advances represent amounts advanced on behalf of customers in the Title segment associated with the recording of mortgage documents. These amounts are primarily recouped within 30 days from funds in the escrow accounts the Company administers. Property and Equipment, Net Property and equipment, net, consisted of the following: June 30, 2024 December 31, 2023 (In thousands) Computer and software $ 6,117 $ 6,335 Furniture and fixtures 1,794 1,816 Capitalized internal-use software 4,916 63 Leasehold improvements 3,718 4,886 Total property and equipment, gross 16,545 13,100 Accumulated depreciation and amortization (8,928) (9,155) Total property and equipment, net $ 7,617 $ 3,945 Depreciation expense for the three months ended June 30, 2024 and 2023 was $0.5 million and $0.6 million, respectively. Depreciation expense for the six months ended June 30, 2024 and 2023 was $1.1 million and $1.3 million, respectively. Amortization of capitalized internal use software development costs for the three and six months ended June 30, 2024 and 2023 was immaterial. Notes Receivable In 2021, the Company made a $3.0 million investment in a privately-held company via a convertible promissory note. In 2023, the Company made an additional $2.5 million investment into the issuer via another convertible promissory note. Interest accrues at 2% per annum and outstanding principal and accrued interest is due and payable at the earliest of (i) 60 months from the execution of each note, respectively, (ii) an initial public offering, or (iii) change in control, unless otherwise converted to shares of the issuer. The outstanding principal and unpaid accrued interest on the notes is convertible into 4,500,000 shares of the issuer’s Series Seed Preferred Stock and 2,192,308 shares of the issuer’s Series A Preferred Stock, respectively, at the option of the issuer, upon a change in control, upon the issuer’s initial public offering, or upon a qualified equity financing. The conversion options are not bifurcated from the promissory notes as the options do not meet the net settlement criteria of a derivative instrument due to the options not being readily convertible to cash. The Company also has a call option to merge the issuer with the Company for aggregate consideration of $500.0 million. The value of the call option was determined to be inconsequential. At each reporting date, the Company evaluates the collectability of the notes receivable in accordance with ASC 326, Financial Instruments—Credit Losses . As of June 30, 2024 and December 31, 2023, the Company determined that no credit loss existed for the convertible promissory notes, and no provision for expected credit losses was recognized. The notes receivable are presented within other non-current assets on the unaudited condensed consolidated balance sheets. Investments in Non-Marketable Equity Securities The Company holds an equity investment in a privately-held company in exchange for 103,611 shares of Series Growth 1a Preferred Stock. This investment in the equity securities without readily determinable fair value is measured at cost, less impairment, if any, plus or minus observable price changes in orderly transactions of an identical or similar investment of the same issuer. As of June 30, 2024, the carrying value of this investment was $9.8 million, inclusive of a cumulative upward adjustment of $7.3 million, of which $4.4 million was recognized during the first quarter of 2024 to reflect observable price changes. As of December 31, 2023, the carrying value of this investment was $5.4 million, inclusive of cumulative upward adjustment of $2.9 million. The Company determined the adjustment by measuring the security at fair value using the option pricing model (“OPM”) as of the date the observable transaction occurred. Observable transactions, such as the issuance of new equity by an investee, are indicators of investee enterprise value and are used to estimate the fair value of the Company’s investment in the equity security. An OPM is utilized to allocate value to the various classes of securities of the investee, including classes owned by the Company. Such information, available to the Company from the investee entity, is supplemented with the Company’s estimates such as volatility, expected time to liquidity and the rights and obligations of the securities the Company holds. The inputs to valuation techniques used to measure fair value of the Company’s non-marketable equity security are classified as Level 3 of the fair value hierarchy due to the use of significant unobservable inputs. The gain resulting from the adjustment to the carrying value of the non-marketable security is presented within other income (expense) in the unaudited condensed consolidated statements of operations and comprehensive income (loss). There were no impairments for the three and six months ended June 30, 2024 . This investment is presented within other non-current assets on the unaudited condensed consolidated balance sheets. Cloud Computing Arrangements The Company capitalizes certain implementation costs incurred during the application development stage under cloud computing arrangements that are service contracts. The carrying value of the capitalized costs was $0.2 million as of June 30, 2024, of which $0.1 million is presented within prepaid expenses and other current assets, and $0.1 million is presented within other non-current assets on the condensed consolidated balance sheets. The carrying value of the capitalized costs was $0.1 million as of December 31, 2023, which is presented within prepaid expenses and other current assets. Amortization of capitalized implementation costs is recognized on a straight-line basis over the term of the associated hosting arrangement when it is ready for its intended use. Costs related to preliminary project activities and post-implementation activities are expensed as incurred. Other Current Liabilities Other current liabilities consisted of the following: June 30, 2024 December 31, 2023 (In thousands) Accrued expenses $ 2,917 $ 2,644 Accrued interest — 101 Accrued professional fees 2,144 1,861 Accrued connectivity fees 3,776 3,103 Accrued litigation contingencies 455 1,105 Operating lease liabilities, current portion 4,697 4,379 Other current liabilities 2,394 1,665 Total other current liabilities $ 16,383 $ 14,858 Other Long-Term Liabilities Other long-term liabilities consisted of the following: June 30, 2024 December 31, 2023 (In thousands) Early exercise liability $ 6 $ 362 Payroll tax liabilities 282 347 Other liabilities 1,283 1,519 Total other long-term liabilities $ 1,571 $ 2,228 Title and Escrow Loss Reserve

Leases

Leases	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Leases	Leases The Company leases its facilities under non-cancelable operating leases with various expiration dates. Leases may contain escalating payments. The Company’s total operating lease costs were $1.7 million and $1.6 million for the three months ended June 30, 2024 and 2023, respectively. The Company’s total operating lease costs were $3.4 million and $3.3 million for the six months ended June 30, 2024 and 2023, respectively. The Company’s total operating lease costs included variable costs in the amount of $0.5 million for the three months ended June 30, 2024 and 2023, and $1.1 million and $1.0 million for the six months ended June 30, 2024 and 2023, respectively. Variable lease costs are primarily comprised of maintenance costs and are determined based on the actual costs incurred during the period. Variable lease payments are expensed in the period incurred and not included in the measurement of lease assets and liabilities. As of June 30, 2024 and December 31, 2023, the weighted average remaining operating lease term was 2.9 years and 3.1 years. The weighted average discount rate used to estimate operating lease liabilities for leases that existed as of June 30, 2024 and December 31, 2023 was 8.5% and 8.1%, respectively. Cash paid for amounts included in the measurement of operating lease liabilities was $1.3 million and $1.2 million for the three months ended June 30, 2024 and 2023, respectively. Cash paid for amounts included in the measurement of operating lease liabilities was $2.6 million and $2.5 million for the six months ended June 30, 2024 and 2023, respectively. As of June 30, 2024, maturities of operating lease liabilities were as follows: (In thousands) Remainder of 2024 $ 2,646 2025 4,415 2026 1,471 2027 1,264 2028 972 Thereafter 524 Total lease payments 11,292 Less: imputed interest (1,423) Total operating lease liabilities $ 9,869 On July 1, 2024, the Company entered into an agreement to terminate one of its leases, incurring a $1.4 million early termination fee due by July 31, 2024. As of June 30, 2024, the right-of-use asset and lease liability balances each included $1.0 million that was classified as held-for-sale, which related to the transfer of the Company’s subsidiary in India to a third party. All other balances classified as held-for-sale were immaterial. The transfer was completed on July 1, 2024.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Contingencies From time to time and in the normal course of business, the Company may be subject to various legal matters, such as threatened or pending claims or proceedings. The litigation contingencies, if realized, could have a material negative impact on the Company’s financial condition, results of operations, and cash flows. The Company recognizes a provision for litigation losses when a contingent liability is probable and the amount thereof is estimable. Costs associated with the Company's involvement in legal proceedings are expensed as incurred. Amounts accrued for litigation contingencies are based on the Company’s best estimates, assessments of the likelihood of damages, and the advice of counsel and often result from a series of judgments about future events and uncertainties that rely heavily on estimates and assumptions, therefore the actual settlement amounts could differ from the estimated contingency accrual and result in additional charges or reversals in future periods. The Company had a litigation contingency accrual of approximately $0.5 million and $1.1 million as of June 30, 2024 and December 31, 2023, respectively, which is presented within other current liabilities in the unaudited condensed consolidated balance sheets. Warranties, Indemnifications, and Contingent Obligations The Company’s platform, products, and services are generally warranted to perform substantially as described in the associated documentation and to satisfy defined levels of uptime reliability. The service-level agreements that provide for defined levels of uptime reliability and performance permit the customers to receive credits or to terminate their agreements in the event that the Company fails to meet those levels. To date, the Company has not experienced any significant failures to meet defined levels of reliability and performance as a result of those agreements and historically the Company has not incurred any material costs associated with warranties. Accordingly, the Company has not accrued any liabilities related to these agreements in the unaudited condensed consolidated financial statements. The Company enters into indemnification provisions under (i) its agreements with other companies in the ordinary course of business, typically with business partners, contractors, customers, and landlords and (ii) its agreements with investors. Under these provisions, the Company generally indemnifies and holds harmless the indemnified party for losses suffered or incurred by the indemnified party as a result of the Company’s activities or, in some cases, as a result of the indemnified party’s activities under the agreement. These indemnification provisions often include indemnifications relating to representations made by the Company with regard to intellectual property rights. These indemnification provisions generally survive termination of the underlying agreement. The maximum potential amount of future payments the Company could be required to make under these indemnification provisions is unlimited. The Company has not incurred material costs to defend lawsuits or settle claims related to these indemnification agreements. Accordingly, the Company has no liabilities recorded for these agreements as of June 30, 2024 or December 31, 2023. The Company has agreed to indemnify its officers and directors to the fullest extent permitted by its amended and restated bylaws and the General Corporation Law of the State of Delaware for certain events or occurrences arising as a result of the officers or directors serving in such capacity. The coverage applies only to acts that occurred during the tenure of the officer or director and has an unlimited term. The maximum potential amount of future payments the Company could be required to make under these indemnification agreements is unlimited. Escrow or Trust Funds The Company administers escrow and trust deposits held at third-party financial institutions representing funds received under real estate contracts, escrowed funds received under escrow agreements, and undisbursed amounts received for settlement of mortgage and home equity loans. These funds are not considered assets of the Company and, therefore, are not included in the accompanying unaudited condensed consolidated balance sheets; however, the Company remains contingently liable for the disposition of these funds on behalf of its customers. Cash held by the Company for these purposes was approximately $3.9 million, net of outstanding checks in transit of $26.7 million as of June 30, 2024, and approximately $3.2 million, net of outstanding checks in transit of $27.8 million as of December 31, 2023.

Debt Financing

Debt Financing	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Debt Financing	Debt Financing Debt consisted of the following: June 30, 2024 December 31, 2023 (In thousands) Term Loan - principal $ — $ 140,000 Term Loan - exit fee — 4,500 Less: unamortized debt discounts and issuance costs — (6,166) Total debt $ — $ 138,334 On June 30, 2021, in connection with the closing of the acquisition of Title365, the Company entered into a credit agreement, as amended from time to time (the “Credit Agreement”), which provided for a $225.0 million senior secured term loan (the “Term Loan”) and a $25.0 million senior secured revolving credit facility (the “Revolving Facility”). The Revolving Facility included $10.0 million sublimit for the issuance of letters of credit. The Revolving Facility also included a swingline sub-facility (the “Swingline Facility”) that accommodated same-day borrowing of base rate loans. The sublimit for the Swingline Facility was $5.0 million. The Term Loan was fully drawn at closing to provide, in part, the cash consideration paid in connection with the acquisition of Title365. The Term Loan was funded and the cash consideration was transferred on July 1, 2021. The Term Loan maturity date was June 30, 2026, and the full principal amount was due at maturity. No amortization payments were required with respect to the Term Loan. The borrowings under the Term Loan accrued interest at a floating rate which were, at the Company’s option, either (i) an adjusted Term SOFR rate for a specified interest period plus an applicable margin of 7.50% or (ii) a base rate plus an applicable margin of 6.50%. The Term SOFR rate applicable to the Term Loan was subject to a floor of 1.00%, and the base rate was subject to a floor of 2.00%. The base rate for any day was a fluctuating rate per annum equal to the highest of (i) the federal funds effective rate in effect on such day, plus 0.50%, (ii) the rate of interest for such day as published in the Wall Street Journal as the “prime rate,” and (iii) the adjusted Term SOFR rate for a one-month interest period, plus 1.00%. Interest was payable in arrears for the elected specified interest period. Under the Revolving Facility, the Company was required to pay a commitment fee of 0.50% per annum of the unused commitments. The Company was also required to pay letter of credit fees, customary fronting fees, and other customary documentary fees in connection with the issuance of letters of credit. The Company incurred approximately $5.7 million of debt issuance costs in connection with the Term Loan, which had been deferred, and the remaining unamortized portion of these costs was presented as a reduction of long-term debt on the condensed consolidated balance sheet as of December 31, 2023. In connection with the Credit Agreement, the Company issued a Series G preferred stock warrant to purchase 598,431 shares of Class A common stock at an exercise price per share of $13.827822 (the “Series G Warrant"). The terms of the warrant agreement for the Series G Warrant provide the holder with an option to net settle if the fair value of Class A common stock is greater than the exercise price. The net shares to be issued in a cashless exercise will be based on the fair value of the Company’s Class A common stock at the time the Series G Warrant is exercised. As of June 30, 2024, the Series G Warrant has not been exercised. The Series G Warrant will expire 10 years from the issue date. The proceeds from the issuance of debt were allocated between the Term Loan and the Series G Warrant based on their relative fair values, resulting in a debt discount of approximately $6.8 million for the amount allocated to the Series G Warrant and accounted for as paid-in capital. In October 2022, the Company entered into the First Amendment (the “Amendment”) to the Credit Agreement. The Amendment replaced the reference rate from LIBOR to SOFR as a result of the expected cessation of LIBOR and in accordance with the Credit Agreement. On November 27, 2023, the Company entered into the Second Amendment to the Credit Agreement (the “Second Amendment”), which amended the Credit Agreement to, among other things, (i) terminate the Revolving Facility and (ii) amend the maturity date of the Term Loan to provide for a springing maturity extension to June 30, 2027, in the event that certain conditions were satisfied. These conditions had not been met as of the date of the termination of the Credit Agreement. In connection with the Second Amendment, the Company voluntarily prepaid outstanding Term Loan under the Credit Agreement in an aggregate principal amount of $85.0 million. For the year ended December 31, 2023, in connection with prepayment made under the Second Amendment, the Company recognized approximately $4.0 million loss, consisting of the proportionate write-off of unamortized debt issuance costs and debt discounts due to the partial extinguishment of the Term Loan and the write off of unamortized portion of debt issuance costs related to the termination of the Revolving Facility. On April 29, 2024, in connection with the issuance of the Series A Preferred Stock, the Company paid approximately $146.1 million to repay all amounts outstanding and payable under the Credit Agreement, including the exit fee of $4.5 million, and terminated the Credit Agreement. For the quarter ended June 30, 2024, in connection with the full repayment of amounts outstanding and payable under the Credit Agreement and the termination of the Credit Agreement, the Company recognized approximately a $5.5 million loss consisting of the full write-off of unamortized debt issuance costs and debt discounts due to the full extinguishment of the Term Loan. The loss is presented within other income (expense), net in the accompanying unaudited condensed consolidated statements of operations and comprehensive income (loss). Including the impact of the deferred debt issuance costs and the debt discounts resulting from the exit fee and the Series G Warrant, the effective interest rate on the Term Loan was approximately 14.55% as of April 29, 2024. Debt issuance costs, debt discounts, and the Revolving Facility issuance costs were being amortized as interest expense over the term of the Credit Agreement. As a result of the failure to execute control agreements for all applicable deposit and investment securities accounts in a timely manner, the Company was out of compliance with certain non-financial covenants as well as the minimum liquidity covenant as of December 31, 2023. Subsequent to December 31, 2023, the Company had remedied the failures. As of the date of termination of the Credit Agreement, the Company was in compliance with these covenants.

Redeemable Preferred Stock

Redeemable Preferred Stock	6 Months Ended
	Jun. 30, 2024
Temporary Equity Disclosure [Abstract]
Redeemable Preferred Stock	Redeemable Preferred Stock On April 29, 2024, the Company entered into the Investment Agreement and issued 150,000 shares of Series A Preferred Stock, for an aggregate purchase price of $150.0 million. The Company incurred $10.1 million of issuance costs. Net proceeds from the transaction in the amount of $139.9 million were used to repay in full the amounts outstanding under the Credit Agreement. The Series A Preferred Stock has the following rights: Conversion Rights Each share of the Series A Preferred Stock is convertible into Class A common stock at the option of the holders thereof at any time at an initial conversion rate of 307.6923 shares of common stock per $1,000 principal amount (equivalent to an initial conversion price of approximately $3.25 per share). Redemption Rights The Series A Preferred Stock includes the following redemption provisions: • At any time following the fifth anniversary of issuance, a majority of the holders of the Series A Preferred Stock have the right to cause the Company to redeem in whole, but not in part the shares of Series A Preferred Stock for cash. The per share amount of such redemption will equal the then-current liquidation preference multiplied by (i) 150% if the redemption occurs on or after the fifth anniversary and prior to the sixth anniversary of the Issuance Date, (ii) 175% if the redemption occurs on or after the sixth anniversary and before the seventh anniversary of the Issuance Date, and (iii) 200% if the redemption occurs on or after the seventh anniversary of the Issuance Date. • At any time following the seventh anniversary of issuance, the Company may redeem in whole, but not in part all of the Series A Preferred Stock in cash for a per share amount equal to the then-current liquidation preference multiplied by 200%. • Upon notice of a change of control, holders of Series A Preferred Stock may elect to convert the shares into Class A common stock. If the holder does not elect to convert shares, the Company will be required to redeem the Series A Preferred Stock in cash for a price per share equal to the greater of (i) the amount of cash and the fair market value of any other property that the holder would have received on an as-converted basis at the then-current conversion price and (ii) 200% of the then-current liquidation preference. Dividend Rights The holders of the Series A Preferred Stock are entitled to receive any dividends paid and distributions made to the holders of the Class A common stock to the same extent in kind and amount of consideration that would be payable on an as-converted basis as of the same record date and payment date of any dividend paid or distribution made to the holders of the Class A common stock. Dividends do not accrue on the Series A Preferred Stock. Voting & Consent Rights The holders of the Series A Preferred Stock are entitled to vote, as a single class, with the holders of the Class A common stock and the holders of any other class or series of capital stock of the Company then entitled to vote with the Class A common stock on all matters submitted to a vote of the holders of Class A common stock (and, if applicable, holders of any other class or series of capital stock of the Company). The Company requires the affirmative approval of the holders of a majority of the Series A Preferred Stock then outstanding, voting as a single class, in connection with certain corporate actions or events of the Company that may have a material effect on the value of the Series A Preferred Stock. Governance Rights So long as Haveli, together with the other permitted transferees, beneficially owns at least 33% of the shares of Series A Preferred Stock purchased by Haveli in connection with the Investment Agreement on an as-converted basis, Haveli will have the right to designate a director nominee for election to the Company’s board of directors. Liquidation Preference The Series A Preferred Stock has a liquidation preference of $1,000 per share and ranks senior to the Class A common stock with respect to rights on the distribution of assets on any voluntary or involuntary liquidation, dissolution or winding up of the affairs of the Company. As of June 30, 2024, the Series A Preferred Stock has a liquidation preference of $150.0 million. The Series A Preferred Stock is not mandatorily redeemable and as such is not required to be classified as a liability. The Series A Preferred Stock is redeemable at the option of the holder starting with the 5-year anniversary of issuance, or redeemable upon notice of change of control. As the redemption of the Series A Preferred Stock is not solely within the Company’s control, it is classified as mezzanine equity in the unaudited condensed consolidated balance sheets. As of June 30, 2024, the Series A Preferred Stock has a maximum redemption value of $300.0 million. The carrying value of the Series A Preferred Stock is accreted to its maximum redemption value over the seven year term, using the effective interest method. The increases in the redemption amount are recorded with corresponding adjustments against additional paid-in capital, in the absence of retained earnings. For each reporting period, the entire periodic change in the redemption amount is reflected in the computation of net loss per share under the two-class method as being akin to a dividend, by reducing the income (or increasing the loss) attributable to common stockholders. In connection with the issuance of the Series A Preferred Stock, the Company issued a warrant (the “Warrant”) to Haveli to purchase up to 11,111,112 shares of Class A common stock, at a purchase price of $4.50 per share. The number of shares and exercise price are subject to anti-dilution adjustments for splits, dividends, capital reorganizations, reclassifications and similar transactions. The Warrant is exercisable for a period of 24 months from issuance, subject to the expiration or early termination of the applicable waiting period under the Hart Scott Rodino Antitrust Improvements Act of 1976, as amended. The Warrant has not been exercised as of June 30, 2024. The net proceeds were allocated to the Series A Preferred Stock and the Warrant based on their relative fair values as of the issuance date, in the amount of $130.8 million and $9.1 million, respectively. The proceeds allocated to Warrant were accounted for as paid-in capital. The Series A Preferred Stock does not contain any embedded features that are required to be bifurcated.

Stockholder_s Equity

Stockholder’s Equity	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Stockholder’s Equity	Stockholder’s Equity The following is a summary of the rights of the holders of the Company’s capital stock: Common Stock The Company has three classes of authorized common stock: Class A common stock, Class B common stock, and Class C common stock. The rights of the holders of Class A common stock, Class B common stock, and Class C common stock are identical, except with respect to voting and conversion. Dividend Rights Subject to preferences that may apply to any shares of preferred stock outstanding at the time, the holders of the Company’s common stock will be entitled to receive dividends out of funds legally available if the Company’s board of directors, in its discretion, determines to issue dividends and then only at the times and in the amounts that the Company’s board of directors may determine. Voting Rights Holders of the Class A common stock are entitled to one vote for each share held on all matters submitted to a vote of stockholders, holders of the Class B common stock are entitled to 40 votes for each share held on all matters submitted to a vote of stockholders, and holders of the Class C common stock are not entitled to vote on any matter that is submitted to a vote of stockholders, except as otherwise required by law. The holders of the Class A common stock and Class B common stock will vote together as a single class, unless otherwise required by law. At the completion of the IPO, the Co-Founder and Head of Blend held all of the issued and outstanding shares of the Company’s Class B common stock. No Preemptive or Similar Rights The Company’s common stock is not entitled to preemptive rights and is not subject to conversion, redemption, or sinking fund provisions. Right to Receive Liquidation Distributions If the Company becomes subject to a liquidation, dissolution, or winding-up, the assets legally available for distribution to the Company’s stockholders would be distributable ratably among the holders of the Company’s common stock and any participating preferred stock outstanding at that time, subject to prior satisfaction of all outstanding debt and liabilities and the preferential rights of and the payment of liquidation preferences, if any, on any outstanding shares of preferred stock. Conversion of Class B Common Stock Each share of Class B common stock is convertible at any time at the option of the holder into one share of Class A common stock. Shares of Class B common stock will automatically convert into shares of Class A common stock upon sale or transfer except for certain transfers described in the Amended and Restated Certificate of Incorporation, such as certain transfers effected for estate planning or charitable purposes. Conversion of Class C Common Stock After the conversion or exchange of all outstanding shares of the Company’s Class B common stock into shares of Class A common stock, all outstanding shares of Class C common stock will convert automatically into Class A common stock, on a share-for-share basis, on the date or time specified by the holders of a majority of the outstanding shares of Class A common stock, voting as a separate class. Preferred Stock Subject to the protective provisions afforded to the holders of the Series A Preferred Stock, the Company’s board of directors has the authority to issue preferred stock in one or more series, to establish from time to time the number of shares to be included in each series and to fix the designation, powers, preferences, and rights of the shares of each series and any of its qualifications, limitations, or restrictions, in each case without further vote or action by the Company’s stockholders. As of June 30, 2024, the Company had 200,000,000 shares authorized and 150,000 shares of preferred stock issued and outstanding.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation 2012 Stock Option Plan Effective May 1, 2012, the Company adopted the 2012 Stock Plan (the “2012 Plan”). Options granted under the 2012 Plan may be either incentive stock options or nonqualified stock options. Incentive stock options (“ISOs”), within the meaning of Section 422 of the Internal Revenue Code of 1986, as amended (the “Code”) may be granted only to employees (including officers and directors). Non-qualified stock options (“NSOs”) may be granted to employees and consultants. The exercise price of ISOs and NSOs shall not be less than 100% of the estimated fair value of the common shares on the date of grant, respectively, as determined by the Company’s board of directors. The exercise price of an ISO granted to a 10% or greater stockholder shall not be less than 110% of the estimated fair value of the common shares on the date of grant. Options generally vest over a period of four years. No further grants may be made under the 2012 Plan. 2021 Equity Incentive Plan In July 2021, the Company’s board of directors adopted, and the Company’s stockholders approved, the 2021 Equity Incentive Plan (the “2021 Plan”), which became effective on July 14, 2021. The Company’s prior plan, 2012 Plan, was terminated immediately prior to the effectiveness of the 2021 Plan with respect to the grant of future awards. The 2021 Plan provides for the grant of ISOs, to the Company’s employees and any parent and subsidiary corporations’ employees, and for the grant of NSOs, stock appreciation rights, restricted stock, restricted stock units (“RSUs”), and performance awards to the Company’s employees, directors, and consultants and the Company’s parent and subsidiary corporations’ employees and consultants. Subject to the adjustment provisions of and the automatic increase described in the 2021 Plan, a total of 23,000,000 shares of the Company’s Class A common stock were reserved for issuance pursuant to the 2021 Plan, plus 36,101,718 shares of the Company’s Class A common stock reserved for future issuance under the 2012 Plan. Subject to the adjustment provisions of the 2021 Plan, the number of shares available for issuance under the 2021 Plan also includes an annual increase on the first day of each fiscal year beginning on January 1, 2022, equal to the least of (a) 34,500,000 shares of Class A common stock, (b) 5% of the total number of shares of all classes of the Company’s common stock outstanding on the last day of the immediately preceding fiscal year, or (c) such other amount as the Company’s board of directors (or its committee) may determine. Options granted under the 2021 Plan generally vest over periods ranging from one A summary of the stock option activity is as follows: Number of Weighted Weighted Aggregate (In thousands) (In years) (In thousands) Balance as of December 31, 2023 19,946 $ 4.58 5.62 $ 11,762 Exercised (472) $ 1.51 $ 584 Canceled and forfeited (1,266) $ 9.70 Balance as of June 30, 2024 18,208 $ 4.31 5.38 $ 8,435 Vested and exercisable as of June 30, 2024 16,020 $ 4.31 5.34 $ 8,346 No options were granted during the three and six months ended June 30, 2024 and 2023. The number of options unvested as of June 30, 2024 and December 31, 2023 was 2,188 and 3,172, respectively. The weighted average grant-date fair value of these unvested options was $2.15 and $2.57 per share as of June 30, 2024 and December 31, 2023, respectively. The total fair value of options vested during the three months ended June 30, 2024 and 2023 was $1.2 million and $2.8 million, respectively. The total fair value of options vested during the six months ended June 30, 2024 and 2023 was $2.6 million and $6.7 million, respectively. The aggregate intrinsic value of options exercised during the three and six months ended June 30, 2024 was $0.1 million and $0.6 million, respectively. The aggregate intrinsic value of options exercised during the three and six months ended June 30, 2023 was immaterial. As of June 30, 2024, the total unrecognized stock-based compensation expense for stock options issued under the 2012 Plan and the 2021 Plan was approximately $4.5 million, which is expected to be recognized over a weighted average period of 2.2 years. Early Exercise of Common Stock Options The Company’s board of directors has authorized certain stock option holders to exercise unvested options to purchase shares of Class A common stock. Shares received from such early exercises are subject to repurchase in the event of the optionee’s termination of service as a service provider (as defined in the 2012 Plan and the 2021 Plan), at the lower of the fair market value on the date of the repurchase or the original exercise price, until the options are fully vested. As of June 30, 2024 and December 31, 2023, 1,841 and 123,611 shares of Class A common stock were subject to repurchase. The cash proceeds received for unvested shares of Class A common stock are presented within other long-term liabilities in the unaudited condensed consolidated balance sheets. As of June 30, 2024, the balance was immaterial and as of December 31, 2023, the balance was $0.4 million. Restricted Stock Units A summary of the Company’s RSU activity and related information is as follows: Number of RSUs Weighted (In thousands) Balance as of December 31, 2023 20,137 $ 1.30 Granted 5,852 $ 2.67 Vested (6,144) $ 1.59 Cancelled and forfeited (1,575) $ 1.62 Balance as of June 30, 2024 18,270 $ 1.62 As of June 30, 2024, there was $27.7 million of unrecognized stock-based compensation expense related to unvested RSUs, which is expected to be recognized over a weighted average period of 2.3 years. RSUs granted under the 2021 Plan generally vest quarterly over a period of one year from the grant date. The total fair value of RSUs vested during the three months ended June 30, 2024 and 2023 was $4.8 million and $5.9 million, respectively. The total fair value of RSUs vested during the six months ended June 30, 2024 and 2023 was $9.7 million and $24.4 million, respectively. Performance Stock Units In 2023, the Company’s board of directors granted a total of 5,500,000 restricted stock units with performance vesting conditions (“PSUs”) to certain senior executives. The PSUs will vest in four tranches upon continued service and satisfaction of certain market-based performance targets related to the Company’s stock price hurdles. The estimated weighted average grant date fair value of the PSUs was $0.65 per share, which was determined using a Monte Carlo simulation model. The significant assumptions in the Monte Carlo simulation model include the risk-free interest rate, expected volatility of the Company’s stock price, and expected life of the award. The total stock-based compensation expense recognized for PSUs for the three and six months ended June 30, 2024 was $0.5 million and $1.1 million, respectively. The total stock-based compensation expense recognized for PSUs for the three and six months ended June 30, 2023 was $0.1 million. The total unrecognized compensation expense related to PSUs was $1.9 million as of June 30, 2024, which will be recognized over an estimated weighted average remaining period of 1.7 years. Non-Plan Co-Founder and Head of Blend Options In March 2021, the Company’s board of directors granted to its Co-Founder and Head of Blend a stand-alone stock option issued outside of the 2012 Plan covering a maximum of 26,057,181 shares of Class B common stock with an exercise price of $8.58 per share. The award has a 15-year term (subject to earlier termination when shares subject to the award are no longer eligible to vest) and vests upon the satisfaction of a service condition, liquidity event-related performance condition, and performance-based market conditions. The terms of the award stipulated that if an IPO is completed within 15 months of the date of grant, the first tranche of 1,954,289 shares will vest. The remaining tranches of shares will vest dependent on performance goals tied to the Company’s stock price hurdles with specified expiration dates for each tranche. In July 2021, the first tranche of the Co-Founder and Head of Blend stock option award vested upon completion of the IPO. The remaining tranches were valued using a Monte Carlo simulation model. The weighted average estimated fair value of the remaining tranches as of the modification date was $3.80 per share based on the following assumptions: Fair value of common stock $18.00 Remaining contractual term (years) 14.75 Expected volatility 40.00% Risk-free interest rate 1.71% Expected dividend yield — The total stock-based compensation expense recognized for this award for the three months ended June 30, 2024 and 2023 was $1.5 million and $4.6 million, respectively. The total stock-based compensation expense recognized for this award for the six months ended June 30, 2024 and 2023 was $2.9 million and $9.4 million, respectively. The total unrecognized compensation expense related to the award was $11.1 million as of June 30, 2024, which will be recognized over an estimated weighted average remaining period of 3.1 years. Stock-Based Compensation Expense The Company’s stock-based compensation expense was as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (In thousands) Cost of revenue $ 123 $ 264 $ 277 $ 752 Research and development (1) 2,567 4,829 5,919 12,960 Sales and marketing 875 1,931 1,853 4,714 General and administrative 3,706 7,340 7,293 12,330 Total $ 7,271 $ 14,364 $ 15,342 $ 30,756 ____________ (1) Net of $0.5 million and $1.1 million of additions to capitalized internal-use software for the three and six months ended June 30, 2024, respectively, and none for the three and six months ended June 30, 2023.

Restructuring

Restructuring	6 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Restructuring	Restructuring Workforce Reduction Plans In 2023, the Company executed two workforce reduction initiatives. In January 2023, the Company committed to a workforce reduction plan (the “January 2023 Plan”), which eliminated approximately 340 positions, or 28% of the Company’s then-current workforce. In August 2023, the Company committed to an additional workforce reduction plan (the “August 2023 Plan”). The August 2023 Plan eliminated approximately 150 positions, or 19% of the Company’s then-current workforce. In 2024, The Company continued its workforce reduction initiatives with the elimination of certain additional positions (the “January 2024 Plan”). The execution of the January 2024 Plan was substantially complete as of June 30, 2024. Executive Transition Costs On January 9, 2023, Marc Greenberg notified the Company of his intention to step down as Head of Finance of the Company, and as the Company’s principal financial officer under Section 16a-1(f) of the Exchange Act, effective following the filing on March 16, 2023 of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022. In connection with Mr. Greenberg’s resignation as Head of Finance, the Company entered into a discretionary retention bonus letter with Mr. Greenberg, which provided that the Company would pay Mr. Greenberg a bonus (the “Bonus Payment”) equal to the amount by which the aggregate value of: (i) his base salary, (ii) additional cash bonuses and (iii) value of any Blend equity awards that vest during such period of time, is less than $1,458,333 for period between September 1, 2022 through the March 31, 2023, provided Mr. Greenberg remained continuously employed by the Company through March 31, 2023. The Bonus Payment shall be made in cash or fully vested shares of Class A Common Stock of Blend of equivalent value, as determined by the Company’s Compensation Committee in its sole discretion. Mr. Greenberg’s last day of employment with Blend was April 3, 2023, and subsequently he received the Bonus Payment in cash in the amount of $0.9 million. In addition to the Bonus Payment, Mr. Greenberg received a severance package, which included 9 weeks of severance and other benefits in accordance with Company practices. On January 9, 2023, Crystal Sumner notified the Company of her intention to step down as Head of Legal, Compliance, and Risk and Corporate Secretary of the Company, effective on February 1, 2023. In connection with Ms. Sumner’s departure, the Company entered into a transition agreement with Ms. Sumner, pursuant to which Ms. Sumner received a transition payment equal to 9 weeks of Ms. Sumner’s then-current base salary in accordance with Company practices. The restructuring charges attributable to the workforce reduction plans and executive transaction costs amounted to approximately $0.2 million and $1.2 million for the three and six months ended June 30, 2024, respectively. The restructuring charges attributable to the workforce reduction plans and executive transaction costs amounted to approximately $2.3 million and $15.1 million for the three and six months ended June 30, 2023, respectively. The restructuring charges consisted primarily of cash expenditures for compensation, severance, and transition payments, employee benefits, payroll taxes and related facilitation costs. The restructuring charges attributable to the August 2023 plan also include an accelerated expense of $2.1 million consisting of prepaid cash bonuses issued in the first and second quarter of 2023 to certain employees in lieu of previously committed equity-based awards. The reconciliation of the restructuring liability balances is as follows: (In thousands) Restructuring liability as of December 31, 2022 $ 1,614 January 2023 Plan charge 14,025 Executive transition costs 1,107 August 2023 Plan charge (excluding accelerated amortization of prepaid cash bonuses) 7,685 Settlements (24,331) Restructuring liability as of December 31, 2023 $ 100 January 2024 Plan charge 1,190 Settlements (1,290) Restructuring liability as of June 30, 2024 $ —

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provision for income taxes was less than $0.1 million for the three and six months ended June 30, 2024 and 2023. The effective tax rate for the three and six months ended June 30, 2024 and 2023 was (0.2)%. The effective tax rates differ from the federal statutory rate primarily due to a valuation allowance on the Company’s deferred tax assets. The Company reassessed the ability to realize deferred tax assets by considering the available positive and negative evidence. As of June 30, 2024, the Company concluded that its net deferred tax assets are not more-likely-than-not to be realized and maintained a full valuation allowance against such net deferred tax assets. As of June 30, 2024, the Company files tax returns in the U.S. federal and various state jurisdictions. Due to the Company’s U.S. net operating loss carryforwards, its income tax returns generally remain subject to examination by federal and most state tax authorities. Beginning in 2022, the Company’s subsidiary in India files income tax returns in India which are subject to examination by local tax authorities. This subsidiary is currently under examination by the tax authorities for the fiscal years ended March 31, 2023 and 2022.

Net Loss Per Share

Net Loss Per Share	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Net Loss Per Share	Net Loss Per Share The Company has three classes of authorized common stock for which voting rights differ by class. The Company computes net loss per share using the two-class method required for multiple classes of common stock. Under the two-class method, net income (loss) attributable to common stockholders for the period is allocated between shares of common stock and participating securities based upon their respective rights to receive dividends as if all earnings for the period had been distributed. Basic net loss per share is computed by dividing net loss attributable to each class of stockholders by the weighted average number of shares of stock outstanding during the period, adjusted for options early exercised and subject to repurchase. Diluted loss per share reflects the potential dilution that could occur if securities, including awards issued under the Company’s equity compensation plans or other contracts to issue common stock, were exercised or converted into common stock or resulted in the issuance of common stock (net of any assumed repurchases) that then shared in the earnings of the Company. Diluted net loss per share attributable to the Company is computed by dividing the net loss attributable to the Company by the weighted average number of fully diluted common shares outstanding. The following table presents the calculation of basic and diluted net loss per share for Class A and Class B common stock. No shares of Class C common stock were issued and outstanding during the periods presented. Three Months Ended June 30, 2024 2023 Class A Class B Class A Class B (In thousands, except per share data) Numerator: Net loss attributable to Blend Labs, Inc. $ (18,799) $ (608) $ (39,484) $ (1,747) Less: accretion of RNCI to redemption value (1,479) (48) (1,525) (67) Less: Accretion of Series A Preferred Stock to redemption value (2,578) (83) — — Net loss attributable to Blend Labs, Inc common stockholders $ (22,856) $ (739) $ (41,009) $ (1,814) Denominator: Weighted average common stock outstanding, basic and diluted 245,135 7,934 233,910 10,352 Net loss per share attributable to Blend Labs, Inc.: Basic and diluted $ (0.09) $ (0.09) $ (0.18) $ (0.18) Six months ended June 30, 2024 2023 Class A Class B Class A Class B (In thousands, except per share data) Numerator: Net loss attributable to Blend Labs, Inc. $ (38,683) $ (1,392) $ (102,022) $ (4,626) Less: accretion of RNCI to redemption value (2,884) (104) (3,490) (158) Less: Accretion of Series A Preferred Stock to redemption value (2,569) (92) — — Net loss attributable to Blend Labs, Inc common stockholders $ (44,136) $ (1,588) $ (105,512) $ (4,784) Denominator: Weighted average common stock outstanding, basic and diluted 243,246 8,754 232,327 10,534 Net loss per share attributable to Blend Labs, Inc.: Basic and diluted $ (0.18) $ (0.18) $ (0.45) $ (0.45) The following potential shares of common stock were excluded from the computation of diluted net earnings per share attributable to the Company for the periods presented because including them would have been antidilutive as the Company has reported net loss for each of the periods presented: As of June 30, 2024 2023 (In thousands) Outstanding stock options 18,208 22,541 Early exercised options subject to repurchase 2 284 Non-plan Co-Founder and Head of Blend options 26,057 26,057 Unvested restricted stock units 18,270 18,816 Unvested performance stock awards 5,500 1,000 Common stock warrants 11,709 598 Series A redeemable convertible preferred stock 46,154 — Total antidilutive securities 125,900 69,296

Segment Information

Segment Information	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information The Company’s operating segments are defined in a manner consistent with how the Company manages its operations and how the CODM evaluates the results and allocates the Company’s resources. Segment gross profit, which is the measure used by the Company’s CODM to evaluate the performance of and allocate resources to its segments, is calculated as segment revenue less segment cost of revenue. The Company does not evaluate performance or allocate resources based on segment assets, and therefore, such information is not presented. The following table provides information about each reportable segment: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in thousands) (in thousands) Segment revenue: Software platform $ 26,475 $ 28,115 $ 48,211 $ 51,085 Professional services 2,221 2,216 4,325 3,950 Blend Platform segment 28,696 30,331 52,536 55,035 Title segment 11,784 12,484 22,891 25,116 Total revenue $ 40,480 $ 42,815 $ 75,427 $ 80,151 Segment gross profit: Software platform $ 20,801 $ 22,629 $ 37,362 $ 39,796 Professional services (460) (489) (979) (1,561) Blend Platform segment 20,341 22,140 36,383 38,235 Title segment 1,337 1,353 3,436 1,111 Total gross profit $ 21,678 $ 23,493 $ 39,819 $ 39,346 Operating expenses: Research and development $ 12,916 $ 22,091 $ 27,099 $ 48,348 Sales and marketing 9,370 16,128 19,585 33,696 General and administrative 12,524 19,646 26,459 40,327 Restructuring 207 2,349 1,190 15,132 Total operating expenses 35,017 60,214 74,333 137,503 Loss from operations (13,339) (36,721) (34,514) (98,157) Interest expense (1,648) (7,947) (6,747) (15,516) Other income (expense), net (4,411) 3,232 1,242 6,114 Loss before income taxes $ (19,398) $ (41,436) $ (40,019) $ (107,559)

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2024
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On August 7, 2024, the Company's board of directors authorized the repurchase of up to $25.0 million of the Company’s Class A common stock. Repurchases may be made from time to time through open market repurchases or through privately negotiated transactions subject to market conditions, applicable legal requirements and other relevant factors. The repurchase program does not obligate the Company to acquire any particular amount of its Class A common stock, and it may be suspended at any time at the Company’s discretion. The timing and actual number of shares repurchased may depend on a variety of factors, including price, general business and market conditions, and alternative investment opportunities. The share repurchase program has no set expiration date.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net loss attributable to Blend Labs, Inc.	$ (19,407)	$ (20,668)	$ (41,231)	$ (65,417)	$ (40,075)	$ (106,648)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Jun. 30, 2024 shares	Jun. 30, 2024 shares
Trading Arrangements, by Individual
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Oxana Tkach [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On May 24, 2024, Oxana Tkach, our Controller, adopted a Rule 10b5-1 trading arrangement providing for the sale from time to time of an aggregate of up to 70,000 shares of our Class A common stock, with the exact number of shares to be sold pursuant to Ms. Tkach’s trading arrangement to be determined based on market prices of our Class A common stock. The trading arrangement is intended to satisfy the affirmative defense in Rule 10b5-1(c). The duration of the trading arrangement is until March 31, 2025, subject to early termination for certain specified events set forth in the trading arrangement, or earlier if all transactions under the trading arrangement are completed.
Name	Oxana Tkach
Title	Controller
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	May 24, 2024
Expiration Date	March 31, 2025
Arrangement Duration	311 days
Aggregate Available	70,000	70,000
Winnie Ling [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On June 7, 2024, Winnie Ling, our Head of Legal and People, adopted a Rule 10b5-1 trading arrangement providing for the sale from time to time of an aggregate of up to 150,000 shares of our Class A common stock, with the exact number of shares to be sold pursuant to Mrs. Ling’s trading arrangement to be determined based on market prices of our Class A common stock. The trading arrangement is intended to satisfy the affirmative defense in Rule 10b5-1(c). The duration of the trading arrangement is until February 28, 2025, subject to early termination for certain specified events set forth in the trading arrangement, or earlier if all transactions under the trading arrangement are completed.
Name	Winnie Ling
Title	Head of Legal and People
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	June 7, 2024
Expiration Date	February 28, 2025
Arrangement Duration	266 days
Aggregate Available	150,000	150,000
Nima Ghamsari [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		On June 14, 2024, Nima Ghamsari, our Head of Blend, Co-Founder, and Chair of our board of directors , adopted a Rule 10b5-1 trading arrangement providing for the sale from time to time of up to 2,400,000 shares of our Class A common stock plus sales of shares of our Class A common stock to be issued upon the vesting of restricted stock units intended to generate an aggregate of approximately $450,000, with the exact number of shares to be sold pursuant to Mr. Ghamsari’s trading arrangement to be determined based on market prices of our Class A common stock. The trading arrangement is intended to satisfy the affirmative defense in Rule 10b5-1(c). The duration of the trading arrangement is until February 10, 2025, or earlier if all transactions under the trading arrangement are completed.
Name	Nima Ghamsari
Title	our Head of Blend, Co-Founder, and Chair of our board of directors
Rule 10b5-1 Arrangement Adopted	true
Adoption Date	June 14, 2024
Expiration Date	February 10, 2025
Arrangement Duration	241 days
Aggregate Available	2,400,000	2,400,000

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation and Principles of Consolidation The accompanying unaudited condensed consolidated balance sheets as of June 30, 2024 and December 31, 2023, the unaudited condensed consolidated statements of operations and comprehensive income (loss) for the three and six months ended June 30, 2024 and 2023, the unaudited condensed consolidated statements of redeemable noncontrolling interest, Series A Redeemable Convertible Preferred Stock (the “Series A redeemable convertible preferred stock” or “Series A Preferred Stock”), and stockholders’ equity for the three and six months ended June 30, 2024 and 2023, and the unaudited condensed consolidated statements of cash flows for the six months ended June 30, 2024 and 2023 reflect all adjustments that are of a normal, recurring nature and that are considered necessary for a fair statement of the results for the periods shown in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and the applicable rules and regulations of the U.S. Securities and Exchange Commission (the “SEC”) for interim financial reporting periods. Accordingly, certain information and footnote disclosures have been condensed or omitted that would ordinarily be required under U.S. GAAP for complete financial statements. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.
Principles of Consolidation	The accompanying unaudited condensed consolidated financial statements include the accounts of Blend Labs, Inc. and its subsidiaries in which the Company holds a controlling financial interest. Noncontrolling interest represents the minority stockholder’s share of the net income or loss and equity in a consolidated subsidiary. All intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of condensed consolidated financial statements in conformity with U.S. GAAP requires management to make, on an ongoing basis, estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and the notes thereto. Actual results may differ from those estimates. Such estimates include, but are not limited to, estimates of variable consideration, evaluation of contingencies, determination of the incremental borrowing rates used in calculations of lease liabilities, determination of fair values of stock-based compensation, marketable securities, determination of the fair value of each of the Series A Preferred Stock and the Warrant, valuation of deferred tax assets, valuation of acquired intangible assets, valuation of the redeemable noncontrolling interest, determination of useful lives of tangible and intangible assets and capitalized internal-use software development costs, assessment of impairment of long-lived assets, and valuation of equity securities without readily determinable fair value.
Risks and Uncertainties	Risks and Uncertainties The Company has been and may continue to be affected by various macroeconomic factors, including interest rate environment, housing affordability, and worldwide political and economic conditions. The global financial markets have recently experienced extreme volatility and disruptions, including diminished liquidity and credit availability, declines in consumer confidence, declines in economic growth, rising interest rates, inflation, increases in unemployment rates and uncertainty about economic stability. The real estate environment, including interest rates and the general economic environment, typically impacts the demand for mortgage and mortgage related products. Recent changes in these areas have impacted the Company’s results of operations. Purchase volume and refinance activity were strong in 2021 and 2020 relative to historical averages over the preceding decade; however, an increase in interest rates due to efforts by the U.S. Federal Reserve (the “Federal Reserve”) to manage rising inflation, combined with ongoing supply constraints, resulted in a decline in mortgage origination activity for 2022 and 2023. The demand for mortgage and mortgage related products continued to be sensitive to these factors, and any material changes in Federal Reserve policy, interest rates or housing supply are expected to impact overall origination activity levels during 2024. The Company’s operations are principally funded by available liquidity from cash, cash equivalents and investments. The Company has incurred net losses in each period since inception, and its limited operating history in an evolving industry makes it difficult to accurately forecast the impact of macroeconomic or other external factors on its business and may increase the risk that the Company may not be able to achieve or maintain profitability in the future, or otherwise suffers adverse impacts on its operational and financial results.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company places its cash with high credit quality and federally insured institutions. Cash with any one institution may be in excess of federally insured limits. The Company has not experienced any losses in such accounts and believes the exposure to credit risk is not significant. The Company considers all highly liquid investments with an original maturity date of three months or less at the time of purchase to be cash equivalents. As of June 30, 2024 and December 31, 2023, cash and cash equivalents consisted of cash, money market accounts, and highly liquid investments with original maturities less than 90 days. The carrying amounts reported in the unaudited condensed consolidated balance sheets for cash and cash equivalents approximate fair value due to the short-term nature of the investments.
Restricted Cash	Restricted Cash The Company has classified cash that is not available for use in its operations as restricted cash. Restricted cash consists primarily of collateral for letters of credit related to security deposits for the Company’s office facility lease arrangements and collateral for surety bonds related to the Title segment. As of June 30, 2024 and December 31, 2023, the Company had restricted cash of $7.3 million
Trade and Other Receivables and Credit Loss Reserves	Trade and Other Receivables and Credit Loss Reserves
Capitalized Internal-Use Software	Capitalized Internal-Use Software The Company capitalizes certain costs incurred in the development of its platform and product offerings when (i) the preliminary project stage is completed, (ii) management has authorized further funding for the completion of the project, and (iii) it is probable that the project will be completed and performed as intended. These capitalized costs include personnel and related expenses and stock-based compensation for employees who are directly associated with and who devote time to internal-use software projects. Capitalization of these costs ceases once the project is substantially complete and the software is ready for its intended purpose. Costs incurred for significant upgrades and enhancements to the existing software are also capitalized, while the costs incurred for minor modifications, as well as training and maintenance are expensed as incurred. The capitalized internal-use software development costs are reported in property and equipment, net, in the condensed consolidated balance sheets. Capitalized internal-use software development costs are amortized using the straight-line method over an estimated useful life of the software, as the straight-line recognition method best approximates the manner in which the expected benefit will be derived. The Company does not transfer ownership of its software, license, or lease the software to third parties.
Concentrations of Credit Risk and Significant Customers	Concentrations of Credit Risk and Significant Customers Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash, marketable securities, and trade accounts receivable. The Company maintains its cash equivalents primarily in money market funds and highly liquid investments that are issued or guaranteed by the United States government or its agencies. As of June 30, 2024 and December 31, 2023, cash and cash equivalents was $45.5 million and $31.0 million, respectively, and includ ed $2.6 million and $1.9 million, respectively, of cash held in a foreign jurisdiction. Collateral is not required for trade accounts receivable.
Redeemable Noncontrolling Interest	Redeemable Noncontrolling Interest The Company’s 90.1% ownership of Title365 results in recognition of 9.9% noncontrolling interest, which represents the minority stockholder’s share of the net income and equity in Title365. The Title365 stockholders agreement includes a provision whereby the Company has a call option to purchase the 9.9% noncontrolling interest at a purchase price equal to the greater of (1) $49.5 million plus an amount of interest calculated using an interest rate of 5.0% per annum compounding annually; or (2) 4.4 multiplied by the trailing 12-month EBITDA multiplied by the noncontrolling interest ownership percentage (the “Title365 Call Option”). The Title365 Call Option became exercisable beginning 2 years following the acquisition closing date. The noncontrolling interest holder also holds an option to compel the Company to purchase the remaining 9.9% noncontrolling interest at a price calculated in the same manner as the Title365 Call Option (the “Title365 Put Option”). The Title365 Put Option is exercisable beginning 5 years following the acquisition closing date. Neither the Title365 Call Option nor the Title365 Put Option have an expiration date. However, pursuant to the Title365 stockholders agreement, the Company also has certain bring-along rights that it can exercise under certain circumstances, which may result in the Title365 Put Option being extinguished. As the Title365 Put Option is not solely within the Company’s control, the Company classified this interest as redeemable noncontrolling interest (“RNCI”) within the mezzanine equity section of the unaudited condensed consolidated balance sheets. The RNCI is accreted to the redemption value under the interest method from the acquisition date through the date the Title365 Put Option becomes exercisable. At each balance sheet date, the RNCI is reported at the greater of the initial carrying amount adjusted for the RNCI's share of earnings or losses and other comprehensive income or loss, or its accreted redemption value. The changes in the redemption amount are recorded with corresponding adjustments against retained earnings or, in the absence of retained earnings, additional paid-in-capital. For each reporting period, the entire periodic change in the redemption amount is reflected in the computation of net loss per share under the two-class method as being akin to a dividend. As of June 30, 2024 and December 31, 2023, the redemption amount of the Title365 Put Option as if it was currently redeemable was $57.3 million and $55.9 million, respectively.
Series A Preferred Stock	Series A Preferred Stock On April 29, 2024, the Company entered into an Investment Agreement (the “Investment Agreement”) with Haveli Brooks Aggregator, L.P. (“Haveli”) and issued 150,000 shares of the Company’s Series A Preferred Stock. The Series A Preferred Stock is classified as mezzanine equity due to the redemption features that are not solely within the Company’s control. The Series A Preferred Stock is accreted to its maximum redemption value over the seven year term, using the effective interest method. The increases in the redemption amount are recorded with corresponding adjustments against additional paid-in capital, in the absence of retained earnings. For each reporting period, the entire periodic change in the redemption amount is reflected in the computation of net loss per share under the two-class method as being akin to a dividend, by reducing the income (or increasing the loss) attributable to common stockholders.
Recently Adopted Accounting Standards and Recently Issued Accounting Standards Not Yet Adopted	Recently Adopted Accounting Standards In August 2020, the FASB issued ASU No. 2020-06, Debt—Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40) . The guidance simplifies the accounting for convertible debt instruments and convertible preferred stock by removing the existing guidance in ASC 470-20 that requires entities to account for beneficial conversion features and cash conversion features in equity separately from the host convertible debt or preferred stock. The guidance is effective for the Company for annual reporting periods, and interim reporting periods within those annual periods, beginning January 1, 2024. ASU 2020-06 should be applied on a full or modified retrospective basis and early adoption is permitted. The adoption did not have a material impact on the Company’s consolidated financial statements. In June 2022, the FASB issued ASU No. 2022-03, Fair Value Measurement (Topic 820). This update clarifies the guidance in Topic 820 when measuring the fair value of an equity security subject to contractual restrictions that prohibit the sale of an equity security and introduces new disclosure requirements for equity securities subject to contractual sale restrictions that are measured at fair value in accordance with Topic 820. The amendments affect all entities that have investments in equity securities measured at fair value that are subject to a contractual sale restriction. The guidance is effective for the Company for annual reporting periods, and interim reporting periods within those annual periods, beginning January 1, 2024. Early adoption is permitted. The adoption did not have a material impact on the Company’s consolidated financial statements. Recently Issued Accounting Standards Not Yet Adopted In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280). This update improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant segment expenses, for all public entities to enable investors to develop more decision-useful financial analyses. The guidance is effective for the Company for annual reporting periods beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the impact this ASU will have on its consolidated financial statements. In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740). This update improves the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and (2) income taxes paid disaggregated by jurisdiction. The guidance is effective for the Company for annual reporting periods beginning after December 15, 2024. Early adoption is permitted for annual financial statements that have not yet been issued or made available for issuance. The Company is currently evaluating the impact this ASU will have on its consolidated financial statements.
Investment in Non-Marketable Equity Securities	Investments in Non-Marketable Equity Securities The Company holds an equity investment in a privately-held company in exchange for 103,611 shares of Series Growth 1a Preferred Stock. This investment in the equity securities without readily determinable fair value is measured at cost, less impairment, if any, plus or minus observable price changes in orderly transactions of an identical or similar investment of the same issuer. As of June 30, 2024, the carrying value of this investment was $9.8 million, inclusive of a cumulative upward adjustment of $7.3 million, of which $4.4 million was recognized during the first quarter of 2024 to reflect observable price changes. As of December 31, 2023, the carrying value of this investment was $5.4 million, inclusive of cumulative upward adjustment of $2.9 million. The Company determined the adjustment by measuring the security at fair value using the option pricing model (“OPM”) as of the date the observable transaction occurred. Observable transactions, such as the issuance of new equity by an investee, are indicators of investee enterprise value and are used to estimate the fair value of the Company’s investment in the equity security. An OPM is utilized to allocate value to the various classes of securities of the investee, including classes owned by the Company. Such information, available to the Company from the investee entity, is supplemented with the Company’s estimates such as volatility, expected time to liquidity and the rights and obligations of the securities the Company holds. The inputs to valuation techniques used to measure fair value of the Company’s non-marketable equity security are classified as Level 3 of the fair value hierarchy due to the use of significant unobservable inputs. The gain resulting from the adjustment to the carrying value of the non-marketable security is presented within other income (expense) in the unaudited condensed consolidated statements of operations and comprehensive income (loss). There were no impairments for the three and six months ended June 30, 2024 . This investment is presented within other non-current assets on the unaudited condensed consolidated balance sheets.
Cloud Computing Arrangements	Cloud Computing Arrangements The Company capitalizes certain implementation costs incurred during the application development stage under cloud computing arrangements that are service contracts. The carrying value of the capitalized costs was $0.2 million as of June 30, 2024, of which $0.1 million is presented within prepaid expenses and other current assets, and $0.1 million is presented within other non-current assets on the condensed consolidated balance sheets. The carrying value of the capitalized costs was $0.1 million as of December 31, 2023, which is presented within prepaid expenses and other current assets. Amortization of capitalized implementation costs is recognized on a straight-line basis over the term of the associated hosting arrangement when it is ready for its intended use. Costs related to preliminary project activities and post-implementation activities are expensed as incurred.
Title and Escrow Loss Reserve	Title and Escrow Loss Reserve
Escrow or Trust Funds	Escrow or Trust Funds
Segment Information	The Company’s operating segments are defined in a manner consistent with how the Company manages its operations and how the CODM evaluates the results and allocates the Company’s resources. Segment gross profit, which is the measure used by the Company’s CODM to evaluate the performance of and allocate resources to its segments, is calculated as segment revenue less segment cost of revenue. The Company does not evaluate performance or allocate resources based on segment assets, and therefore, such information is not presented.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Schedule of Concentration of Credit Risk	The following customer comprised 10% or more of the Company’s revenue for the following periods: Three Months Ended June 30, Six Months Ended June 30, Customer 2024 2023 2024 2023 A 1 13% 18% 15% 18% (1) this customer generates revenue in both Blend Platform and Title segments The following customers comprised 10% or more of the Company’s trade and unbilled receivables: Customer June 30, 2024 December 31, 2023 A 16% 10% B N/A 1 13% (1) trade and unbilled receivable balance from this customer did not exceed 10% as of the date presented

Revenue Recognition and Contr_2

Revenue Recognition and Contract Costs (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The following table provides information about disaggregated revenue by service offering: Three months ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (In thousands) Blend Platform: Mortgage Suite $ 18,454 $ 22,271 $ 33,532 $ 40,066 Consumer Banking Suite 8,021 5,844 14,679 11,019 Total software platform 26,475 28,115 48,211 51,085 Professional services 2,221 2,216 4,325 3,950 Total Blend Platform 28,696 30,331 52,536 55,035 Title 11,784 12,484 22,891 25,116 Total revenue $ 40,480 $ 42,815 $ 75,427 $ 80,151
Schedule of Contract Balances	The following table provides information about contract assets and contract liabilities from contracts with customers: Contract Accounts Balance Sheet Line Reference June 30, 2024 December 31, 2023 (In thousands) Contract assets—current Prepaid expenses and other current assets $ 1,059 $ 1,593 Contract liabilities—current Deferred revenue, current $ (20,832) $ (8,984)

Investments and Fair Value Me_2

Investments and Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2024
Investments, Debt and Equity Securities [Abstract]
Schedule of Available For Sale Securities	The carrying amount, unrealized gain and loss, and fair value of investments by major security type were as follows: June 30, 2024 Amortized Gross Gross Fair Value Fair Value Hierarchy (In thousands) Cash equivalents: Money market funds $ 15,679 $ — $ — $ 15,679 Level 1 Commercial paper 21,972 — — 21,972 Level 2 Total cash equivalents 37,651 — — 37,651 Marketable securities: U.S. treasury and agency securities 35,698 — (51) 35,647 Level 2 Commercial paper 19,431 — — 19,431 Level 2 Debt securities 12,072 12 (9) 12,075 Level 2 Total marketable securities 67,201 12 (60) 67,153 Restricted cash, non-current: Money market funds 6,961 — — 6,961 Level 1 Certificates of deposit 333 — — 333 Level 2 Total restricted cash 7,294 — — 7,294 Total $ 112,147 $ 12 $ (60) $ 112,099 December 31, 2023 Amortized Gross Gross Fair Value Fair Value Hierarchy (In thousands) Cash equivalents: Money market funds $ 6,804 $ — $ — $ 6,804 Level 1 Commercial paper 14,932 — — 14,932 Level 2 Total cash equivalents 21,736 — — 21,736 Marketable securities: U.S. treasury and agency securities 33,225 8 (71) 33,162 Level 2 Debt securities 56,512 187 (127) 56,572 Level 2 Asset-backed securities 16,037 99 — 16,136 Level 2 Mutual funds 60 — — 60 Level 1 Total marketable securities 105,834 294 (198) 105,930 Other investments: Certificates of deposit 30 — — 30 Level 2 Total marketable securities and other investments 105,864 294 (198) 105,960 Restricted cash, non-current: Money market funds 6,959 — — 6,959 Level 1 Certificates of deposit 332 — — 332 Level 2 Total restricted cash 7,291 — — 7,291 Total $ 134,891 $ 294 $ (198) $ 134,987 The following table summarizes the stated maturities of the Company’s marketable securities and other investments: June 30, 2024 December 31, 2023 (In thousands) Due within one year $ 39,715 $ 66,620 Due after one year through two years 27,438 39,340 Total marketable securities and other investments $ 67,153 $ 105,960

Intangible Assets (Tables)

Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Indefinite-Lived Intangible Assets	Intangible assets consisted of the following: June 30, 2024 Weighted Average Remaining Amortization Gross Amount Accumulated Amortization Net Book Value (In years) (In thousands) Intangible assets subject to amortization: Domain name 7.2 $ 206 $ (107) $ 99 Indefinite-lived intangible assets: Acquired licenses 2,000 — 2,000 Total intangible assets, net $ 2,206 $ (107) $ 2,099 December 31, 2023 Weighted Average Remaining Amortization Gross Amount Accumulated Amortization Net Book Value (In years) (In thousands) Intangible assets subject to amortization: Domain name 7.7 $ 210 $ (102) $ 108 Indefinite-lived intangible assets: Acquired licenses 2,000 — 2,000 Total intangible assets, net $ 2,210 $ (102) $ 2,108
Schedule of Finite-Lived Intangible Assets	Intangible assets consisted of the following: June 30, 2024 Weighted Average Remaining Amortization Gross Amount Accumulated Amortization Net Book Value (In years) (In thousands) Intangible assets subject to amortization: Domain name 7.2 $ 206 $ (107) $ 99 Indefinite-lived intangible assets: Acquired licenses 2,000 — 2,000 Total intangible assets, net $ 2,206 $ (107) $ 2,099 December 31, 2023 Weighted Average Remaining Amortization Gross Amount Accumulated Amortization Net Book Value (In years) (In thousands) Intangible assets subject to amortization: Domain name 7.7 $ 210 $ (102) $ 108 Indefinite-lived intangible assets: Acquired licenses 2,000 — 2,000 Total intangible assets, net $ 2,210 $ (102) $ 2,108

Significant Balance Sheet Com_2

Significant Balance Sheet Components (Tables)	6 Months Ended
	Jun. 30, 2024
Supplemental Balance Sheet Information [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consisted of the following: June 30, 2024 December 31, 2023 (In thousands) Contract assets $ 1,059 $ 1,593 Deferred contract costs 1,025 1,015 Prepaid software 3,557 4,319 Prepaid insurance 487 1,855 Prepaid other 2,697 3,438 Recording fee advances 220 470 Other current assets 1,270 1,879 Total prepaid expenses and other current assets $ 10,315 $ 14,569
Schedule of Property and Equipment, Net	Property and equipment, net, consisted of the following: June 30, 2024 December 31, 2023 (In thousands) Computer and software $ 6,117 $ 6,335 Furniture and fixtures 1,794 1,816 Capitalized internal-use software 4,916 63 Leasehold improvements 3,718 4,886 Total property and equipment, gross 16,545 13,100 Accumulated depreciation and amortization (8,928) (9,155) Total property and equipment, net $ 7,617 $ 3,945
Schedule of Other Current Liabilities	Other current liabilities consisted of the following: June 30, 2024 December 31, 2023 (In thousands) Accrued expenses $ 2,917 $ 2,644 Accrued interest — 101 Accrued professional fees 2,144 1,861 Accrued connectivity fees 3,776 3,103 Accrued litigation contingencies 455 1,105 Operating lease liabilities, current portion 4,697 4,379 Other current liabilities 2,394 1,665 Total other current liabilities $ 16,383 $ 14,858
Schedule of Other Long-Term Liabilities	Other long-term liabilities consisted of the following: June 30, 2024 December 31, 2023 (In thousands) Early exercise liability $ 6 $ 362 Payroll tax liabilities 282 347 Other liabilities 1,283 1,519 Total other long-term liabilities $ 1,571 $ 2,228

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2024
Leases [Abstract]
Schedule of Maturities of Operating Lease Liabilities	As of June 30, 2024, maturities of operating lease liabilities were as follows: (In thousands) Remainder of 2024 $ 2,646 2025 4,415 2026 1,471 2027 1,264 2028 972 Thereafter 524 Total lease payments 11,292 Less: imputed interest (1,423) Total operating lease liabilities $ 9,869

Debt Financing (Tables)

Debt Financing (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Debt	Debt consisted of the following: June 30, 2024 December 31, 2023 (In thousands) Term Loan - principal $ — $ 140,000 Term Loan - exit fee — 4,500 Less: unamortized debt discounts and issuance costs — (6,166) Total debt $ — $ 138,334

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Option Activity	A summary of the stock option activity is as follows: Number of Weighted Weighted Aggregate (In thousands) (In years) (In thousands) Balance as of December 31, 2023 19,946 $ 4.58 5.62 $ 11,762 Exercised (472) $ 1.51 $ 584 Canceled and forfeited (1,266) $ 9.70 Balance as of June 30, 2024 18,208 $ 4.31 5.38 $ 8,435 Vested and exercisable as of June 30, 2024 16,020 $ 4.31 5.34 $ 8,346
Schedule of Valuation Assumptions	The remaining tranches were valued using a Monte Carlo simulation model. The weighted average estimated fair value of the remaining tranches as of the modification date was $3.80 per share based on the following assumptions: Fair value of common stock $18.00 Remaining contractual term (years) 14.75 Expected volatility 40.00% Risk-free interest rate 1.71% Expected dividend yield —
Schedule of RSU Activity	A summary of the Company’s RSU activity and related information is as follows: Number of RSUs Weighted (In thousands) Balance as of December 31, 2023 20,137 $ 1.30 Granted 5,852 $ 2.67 Vested (6,144) $ 1.59 Cancelled and forfeited (1,575) $ 1.62 Balance as of June 30, 2024 18,270 $ 1.62
Schedule of Stock Based Compensation Expense	The Company’s stock-based compensation expense was as follows: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (In thousands) Cost of revenue $ 123 $ 264 $ 277 $ 752 Research and development (1) 2,567 4,829 5,919 12,960 Sales and marketing 875 1,931 1,853 4,714 General and administrative 3,706 7,340 7,293 12,330 Total $ 7,271 $ 14,364 $ 15,342 $ 30,756 ____________

Restructuring (Tables)

Restructuring (Tables)	6 Months Ended
	Jun. 30, 2024
Restructuring and Related Activities [Abstract]
Schedule of Reconciliation of the Restructuring Liability Balances	The reconciliation of the restructuring liability balances is as follows: (In thousands) Restructuring liability as of December 31, 2022 $ 1,614 January 2023 Plan charge 14,025 Executive transition costs 1,107 August 2023 Plan charge (excluding accelerated amortization of prepaid cash bonuses) 7,685 Settlements (24,331) Restructuring liability as of December 31, 2023 $ 100 January 2024 Plan charge 1,190 Settlements (1,290) Restructuring liability as of June 30, 2024 $ —

Net Loss Per Share (Tables)

Net Loss Per Share (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of Earnings Per Share	The following table presents the calculation of basic and diluted net loss per share for Class A and Class B common stock. No shares of Class C common stock were issued and outstanding during the periods presented. Three Months Ended June 30, 2024 2023 Class A Class B Class A Class B (In thousands, except per share data) Numerator: Net loss attributable to Blend Labs, Inc. $ (18,799) $ (608) $ (39,484) $ (1,747) Less: accretion of RNCI to redemption value (1,479) (48) (1,525) (67) Less: Accretion of Series A Preferred Stock to redemption value (2,578) (83) — — Net loss attributable to Blend Labs, Inc common stockholders $ (22,856) $ (739) $ (41,009) $ (1,814) Denominator: Weighted average common stock outstanding, basic and diluted 245,135 7,934 233,910 10,352 Net loss per share attributable to Blend Labs, Inc.: Basic and diluted $ (0.09) $ (0.09) $ (0.18) $ (0.18) Six months ended June 30, 2024 2023 Class A Class B Class A Class B (In thousands, except per share data) Numerator: Net loss attributable to Blend Labs, Inc. $ (38,683) $ (1,392) $ (102,022) $ (4,626) Less: accretion of RNCI to redemption value (2,884) (104) (3,490) (158) Less: Accretion of Series A Preferred Stock to redemption value (2,569) (92) — — Net loss attributable to Blend Labs, Inc common stockholders $ (44,136) $ (1,588) $ (105,512) $ (4,784) Denominator: Weighted average common stock outstanding, basic and diluted 243,246 8,754 232,327 10,534 Net loss per share attributable to Blend Labs, Inc.: Basic and diluted $ (0.18) $ (0.18) $ (0.45) $ (0.45)
Schedule of Antidilutive Securities	The following potential shares of common stock were excluded from the computation of diluted net earnings per share attributable to the Company for the periods presented because including them would have been antidilutive as the Company has reported net loss for each of the periods presented: As of June 30, 2024 2023 (In thousands) Outstanding stock options 18,208 22,541 Early exercised options subject to repurchase 2 284 Non-plan Co-Founder and Head of Blend options 26,057 26,057 Unvested restricted stock units 18,270 18,816 Unvested performance stock awards 5,500 1,000 Common stock warrants 11,709 598 Series A redeemable convertible preferred stock 46,154 — Total antidilutive securities 125,900 69,296

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
Schedule of Segment Information	The following table provides information about each reportable segment: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (in thousands) (in thousands) Segment revenue: Software platform $ 26,475 $ 28,115 $ 48,211 $ 51,085 Professional services 2,221 2,216 4,325 3,950 Blend Platform segment 28,696 30,331 52,536 55,035 Title segment 11,784 12,484 22,891 25,116 Total revenue $ 40,480 $ 42,815 $ 75,427 $ 80,151 Segment gross profit: Software platform $ 20,801 $ 22,629 $ 37,362 $ 39,796 Professional services (460) (489) (979) (1,561) Blend Platform segment 20,341 22,140 36,383 38,235 Title segment 1,337 1,353 3,436 1,111 Total gross profit $ 21,678 $ 23,493 $ 39,819 $ 39,346 Operating expenses: Research and development $ 12,916 $ 22,091 $ 27,099 $ 48,348 Sales and marketing 9,370 16,128 19,585 33,696 General and administrative 12,524 19,646 26,459 40,327 Restructuring 207 2,349 1,190 15,132 Total operating expenses 35,017 60,214 74,333 137,503 Loss from operations (13,339) (36,721) (34,514) (98,157) Interest expense (1,648) (7,947) (6,747) (15,516) Other income (expense), net (4,411) 3,232 1,242 6,114 Loss before income taxes $ (19,398) $ (41,436) $ (40,019) $ (107,559)

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Narrative (Details) $ in Thousands		3 Months Ended	6 Months Ended
	Apr. 29, 2024 shares	Jun. 30, 2024 USD ($) shares	Jun. 30, 2024 USD ($)	Dec. 31, 2023 USD ($)	Jun. 30, 2021
Noncontrolling Interest [Line Items]
Restricted cash, non-current		$ 7,294	$ 7,294	$ 7,291
Reserve for credit loss		100	100	100
Redemption amount		$ 57,300	$ 57,300	$ 55,900
Issuance of Series A Preferred Stock, net of issuance costs (in shares) | shares		150,000
Series A Redeemable Convertible Preferred Stock
Noncontrolling Interest [Line Items]
Issuance of Series A Preferred Stock, net of issuance costs (in shares) | shares	150,000
Redemption term			7 years
Title segment
Noncontrolling Interest [Line Items]
Interest acquired					90.10%
Title segment
Noncontrolling Interest [Line Items]
Ownership percentage		9.90%	9.90%
Purchase price			$ 49,500
Interest rate		5%	5%
EBITDA ratio			4.4
EBITDA period			12 months
Title segment | Call Option
Noncontrolling Interest [Line Items]
Exercisable period			2 years
Title segment | Put Option
Noncontrolling Interest [Line Items]
Exercisable period			5 years

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Concentration of Credit Risk (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Concentration Risk [Line Items]
Cash and cash equivalents	$ 45,450	$ 34,980	$ 45,450	$ 34,980	$ 30,962
Revenue | Customer Concentration Risk | Insurance Company 1
Concentration Risk [Line Items]
Concentration risk percentage			60%	71%
Revenue | Customer Concentration Risk | Insurance Company 2
Concentration Risk [Line Items]
Concentration risk percentage			40%	29%
Revenue | Customer Concentration Risk | Customer A
Concentration Risk [Line Items]
Concentration risk percentage	13%	18%	15%	18%
Accounts Receivable | Customer Concentration Risk | Customer A
Concentration Risk [Line Items]
Concentration risk percentage			16%		10%
Accounts Receivable | Customer Concentration Risk | Customer B
Concentration Risk [Line Items]
Concentration risk percentage					13%
Foreign Jurisdiction
Concentration Risk [Line Items]
Cash and cash equivalents	$ 2,600		$ 2,600		$ 1,900

Revenue Recognition and Contr_3

Revenue Recognition and Contract Costs - Schedule of Disaggregation of Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 40,480	$ 42,815	$ 75,427	$ 80,151
Blend Platform segment
Disaggregation of Revenue [Line Items]
Revenue	28,696	30,331	52,536	55,035
Software platform
Disaggregation of Revenue [Line Items]
Revenue	26,475	28,115	48,211	51,085
Mortgage Suite
Disaggregation of Revenue [Line Items]
Revenue	18,454	22,271	33,532	40,066
Consumer Banking Suite
Disaggregation of Revenue [Line Items]
Revenue	8,021	5,844	14,679	11,019
Professional services
Disaggregation of Revenue [Line Items]
Revenue	2,221	2,216	4,325	3,950
Title
Disaggregation of Revenue [Line Items]
Revenue	$ 11,784	$ 12,484	$ 22,891	$ 25,116

Revenue Recognition and Contr_4

Revenue Recognition and Contract Costs - Schedule of Contract Balances (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Contract assets—current	$ 1,059	$ 1,593
Contract liabilities—current	$ (20,832)	$ (8,984)

Revenue Recognition and Contr_5

Revenue Recognition and Contract Costs - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Capitalized Contract Cost [Line Items]
Contract assets, noncurrent	$ 0		$ 0		$ 0
Contract liabilities, noncurrent	0		0		0
Revenue recognized	7,800,000	$ 4,900,000	5,700,000	$ 6,100,000
Revenue from performance obligations satisfied (reversed) in previous periods	1,000,000	800,000	1,100,000	1,700,000
Unamortized deferred contract costs	3,000,000		3,000,000		3,500,000
Unamortized deferred contract costs, current	1,025,000		1,025,000		1,015,000
Unamortized deferred contract costs, noncurrent	2,020,000		2,020,000		2,453,000
Amortization of deferred contract costs	300,000	$ 700,000	519,000	$ 1,745,000
Prepaid Expenses and Other Current Assets
Capitalized Contract Cost [Line Items]
Unamortized deferred contract costs, current	$ 1,000,000		$ 1,000,000		$ 1,000,000

Revenue Recognition and Contr_6

Revenue Recognition and Contract Costs - Remaining Performance Obligations (Details) $ in Millions	Jun. 30, 2024 USD ($)
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations	$ 87.4
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation (in percentage)	50%
Remaining performance obligations, period	12 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations, period	13 months
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligations, period	24 months

Investments and Fair Value Me_3

Investments and Fair Value Measurements - Schedule of Available For Sale Securities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2023
Debt Securities, Available-for-sale [Line Items]
Cash and cash equivalents	$ 45,450	$ 30,962	$ 34,980
Gross Unrealized Gain	12	294
Gross Unrealized Loss	(60)	(198)
Marketable securities and other investments	67,153	105,960
Restricted cash, non-current	7,294	7,291
Cash, Cash Equivalents, Restricted Cash And Short Term Investments, Amortized Cost	112,147	134,891
Cash, Cash Equivalents, Restricted Cash And Short Term Investments	112,099	134,987
U.S. treasury and agency securities | Level 2
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	35,698	33,225
Gross Unrealized Gain	0	8
Gross Unrealized Loss	(51)	(71)
Fair Value	35,647	33,162
Commercial paper | Level 2
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	19,431
Gross Unrealized Gain	0
Gross Unrealized Loss	0
Fair Value	19,431
Debt securities | Level 2
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	12,072	56,512
Gross Unrealized Gain	12	187
Gross Unrealized Loss	(9)	(127)
Fair Value	12,075	56,572
Asset-backed securities | Level 2
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		16,037
Gross Unrealized Gain		99
Gross Unrealized Loss		0
Fair Value		16,136
Mutual funds | Level 1
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		60
Gross Unrealized Gain		0
Gross Unrealized Loss		0
Fair Value		60
Certificates of deposit | Level 2
Debt Securities, Available-for-sale [Line Items]
Other investments		30
Restricted cash, non-current	333	332
Money market funds | Level 1
Debt Securities, Available-for-sale [Line Items]
Cash and cash equivalents	15,679	6,804
Restricted cash, non-current	6,961	6,959
Commercial paper | Level 2
Debt Securities, Available-for-sale [Line Items]
Cash and cash equivalents	21,972	14,932
Total cash equivalents
Debt Securities, Available-for-sale [Line Items]
Cash and cash equivalents	37,651	21,736
Total marketable securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost		105,834
Gross Unrealized Gain		294
Gross Unrealized Loss		(198)
Fair Value		105,930
Total marketable securities
Debt Securities, Available-for-sale [Line Items]
Gross Unrealized Gain	12	294
Gross Unrealized Loss	(60)	(198)
Short Term Investments, Amortized Cost	67,201	105,864
Marketable securities and other investments	$ 67,153	$ 105,960

Investments and Fair Value Me_4

Investments and Fair Value Measurements - Narrative (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Restricted cash related to lease obligations	$ 5
Restricted cash related to surety bonds	$ 1.9	$ 0.3

Investments and Fair Value Me_5

Investments and Fair Value Measurements - Schedule of Debt Maturities (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2024 USD ($) position	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($) position	Jun. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) position
Investments, Debt and Equity Securities [Abstract]
Due within one year	$ 39,715,000		$ 39,715,000		$ 66,620,000
Due after one year through two years	27,438,000		27,438,000		39,340,000
Marketable securities and other investments	$ 67,153,000		$ 67,153,000		$ 105,960,000
Number of investment positions that are in an unrealized loss position | position	21		21		28
Number of investment positions that are in an unrealized loss position, twelve months or greater | position					4
Fair value that are in an unrealized loss position, twelve months or greater	$ 0		$ 0		$ 16,000,000
Interest income	1,500,000	$ 3,200,000	2,700,000	$ 6,100,000
Interest receivable	$ 300,000		$ 300,000		$ 900,000

Intangible Assets - Schedule of

Intangible Assets - Schedule of Indefinite-Lived and Finite-Lived Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Accumulated Amortization	$ (107)	$ (102)
Total intangible assets, gross	2,206	2,210
Total intangible assets, net	2,099	2,108
Acquired licenses
Finite-Lived Intangible Assets [Line Items]
Acquired licenses	$ 2,000	$ 2,000
Domain name
Finite-Lived Intangible Assets [Line Items]
Weighted Average Remaining Amortization	7 years 2 months 12 days	7 years 8 months 12 days
Gross Amount	$ 206	$ 210
Accumulated Amortization	(107)	(102)
Net Book Value	$ 99	$ 108

Significant Balance Sheet Com_3

Significant Balance Sheet Components - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Supplemental Balance Sheet Information [Abstract]
Contract assets	$ 1,059	$ 1,593
Deferred contract costs	1,025	1,015
Prepaid software	3,557	4,319
Prepaid insurance	487	1,855
Prepaid other	2,697	3,438
Recording fee advances	220	470
Other current assets	1,270	1,879
Total prepaid expenses and other current assets	$ 10,315	$ 14,569

Significant Balance Sheet Com_4

Significant Balance Sheet Components - Schedule of Property and Equipment, Net (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 16,545		$ 16,545		$ 13,100
Accumulated depreciation and amortization	(8,928)		(8,928)		(9,155)
Total property and equipment, net	7,617		7,617		3,945
Depreciation expense	500	$ 600	1,100	$ 1,300
Computer and software
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	6,117		6,117		6,335
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	1,794		1,794		1,816
Capitalized internal-use software
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	4,916		4,916		63
Leasehold improvements
Property, Plant and Equipment [Line Items]
Total property and equipment, gross	$ 3,718		$ 3,718		$ 4,886

Significant Balance Sheet Com_5

Significant Balance Sheet Components - Note Receivable (Narrative) (Details) - USD ($) $ in Millions	1 Months Ended	12 Months Ended
	Jan. 31, 2021	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Potential merger consideration		$ 500
Series Seed Preferred Stock
Accounts, Notes, Loans and Financing Receivable [Line Items]
Shares issuable in debt conversion (in shares)		4,500,000
Series A Preferred Stock
Accounts, Notes, Loans and Financing Receivable [Line Items]
Shares issuable in debt conversion (in shares)		2,192,308
Notes Receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Account receivable	$ 3	$ 2.5
Interest rate		2%
Term of receivable	60 months

Significant Balance Sheet Com_6

Significant Balance Sheet Components - Investments in Non-Marketable Equity Securities (Narrative) (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Jun. 30, 2024	Dec. 31, 2023
Supplemental Balance Sheet Information [Abstract]
Investment shares (in shares)		103,611
Carrying value		$ 9.8	$ 5.4
Cumulative upward adjustment		$ 7.3	$ 2.9
Upward adjustment	$ 4.4

Significant Balance Sheet Com_7

Significant Balance Sheet Components - Cloud Computing Arrangements (Narrative) (Details) - USD ($) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Costs incurred, development costs	$ 0.2
Prepaid Expenses and Other Current Assets
Property, Plant and Equipment [Line Items]
Costs incurred, development costs	0.1	$ 0.1
Other Noncurrent Assets
Property, Plant and Equipment [Line Items]
Costs incurred, development costs	$ 0.1

Significant Balance Sheet Com_8

Significant Balance Sheet Components - Schedule of Other Current Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Supplemental Balance Sheet Information [Abstract]
Accrued expenses	$ 2,917	$ 2,644
Accrued interest	0	101
Accrued professional fees	2,144	1,861
Accrued connectivity fees	3,776	3,103
Accrued litigation contingencies	455	1,105
Operating lease liabilities, current portion	4,697	4,379
Other current liabilities	2,394	1,665
Total other current liabilities	$ 16,383	$ 14,858
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total other current liabilities	Total other current liabilities

Significant Balance Sheet Com_9

Significant Balance Sheet Components - Schedule of Other Long-Term Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Supplemental Balance Sheet Information [Abstract]
Early exercise liability	$ 6	$ 362
Payroll tax liabilities	282	347
Other liabilities	1,283	1,519
Total other long-term liabilities	$ 1,571	$ 2,228

Significant Balance Sheet Co_10

Significant Balance Sheet Components - Title and Escrow Loss Reserve (Narrative) (Details) - USD ($) $ in Millions	Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Loss contingency accrual	$ 1.1	$ 1.5
Other Current Liabilities
Property, Plant and Equipment [Line Items]
Loss contingency accrual	0.1	0.2
Other Noncurrent Liabilities
Property, Plant and Equipment [Line Items]
Loss contingency accrual	$ 1	$ 1.3

Leases - Narrative (Details)

Leases - Narrative (Details) - USD ($) $ in Millions		3 Months Ended		6 Months Ended
	Jul. 01, 2024	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Lessee, Lease, Description [Line Items]
Operating lease costs		$ 1.7	$ 1.6	$ 3.4	$ 3.3
Variable lease costs		$ 0.5	0.5	$ 1.1	1
Weighted average remaining operating lease term		2 years 10 months 24 days		2 years 10 months 24 days		3 years 1 month 6 days
Weighted average discount rate		8.50%		8.50%		8.10%
Cash paid		$ 1.3	$ 1.2	$ 2.6	$ 2.5
Disposal Group, Held-for-Sale, Not Discontinued Operations
Lessee, Lease, Description [Line Items]
ROU asset		1		1
Lease liability		$ 1		$ 1
Subsequent Event
Lessee, Lease, Description [Line Items]
Termination fee	$ 1.4

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Operating Lease Liabilities (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Leases [Abstract]
Remainder of 2024	$ 2,646
2025	4,415
2026	1,471
2027	1,264
2028	972
Thereafter	524
Total lease payments	11,292
Less: imputed interest	(1,423)
Total operating lease liabilities	$ 9,869

Commitments and Contingencies (

Commitments and Contingencies (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Loss Contingencies [Line Items]
Accrued litigation contingencies	$ 455	$ 1,105
Escrow deposit net outstanding amount	3,900	3,200
Escrow deposits	26,700	27,800
Other Current Liabilities
Loss Contingencies [Line Items]
Accrued litigation contingencies	$ 500	$ 1,100

Debt Financing - Schedule of De

Debt Financing - Schedule of Debt (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023	Jun. 30, 2021
Debt Instrument [Line Items]
Total debt	$ 0	$ 138,334,000
Term Loan | Line of Credit
Debt Instrument [Line Items]
Term Loan - principal	0	140,000,000	$ 225,000,000
Term Loan - exit fee	0	4,500,000
Less: unamortized debt discounts and issuance costs	0	(6,166,000)
Total debt	$ 0	$ 138,334,000

Debt Financing - Narrative (Det

Debt Financing - Narrative (Details) - USD ($)				3 Months Ended	6 Months Ended		12 Months Ended
	Apr. 29, 2024	Nov. 27, 2023	Jun. 30, 2021	Jun. 30, 2024	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Debt Instrument [Line Items]
Loss on extinguishment of debt					$ 5,476,000	$ 0	$ 4,000,000
Series G Preferred Stock
Debt Instrument [Line Items]
Number shares warrants can purchase (in shares)			598,431
Exercise price of warrants (in dollars per share)			$ 13.827822
Expiration period					10 years
Line of Credit | SOFR
Debt Instrument [Line Items]
Variable rate			7.50%
Floor rate			1%
Line of Credit | Base Rate
Debt Instrument [Line Items]
Variable rate			6.50%
Floor rate			2%
Unused commitment fee percentage			0.50%
Line of Credit | Federal Funds Effective Rate
Debt Instrument [Line Items]
Variable rate			0.50%
Line of Credit | Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 225,000,000	$ 0	$ 0		140,000,000
Debt repaid		$ 85,000,000
Repayments of credit facility	$ 146,100,000
Fee amount	$ 4,500,000
Debt issuance costs			5,700,000
Debt discount				6,800,000	$ 6,800,000
Effective percentage	14.55%
Loss on extinguishment of debt				$ 5,500,000
Fair value of debt							$ 136,500,000
Line of Credit | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity			25,000,000
Line of Credit | Revolving Credit Facility | Letter Of Credit Sublimit
Debt Instrument [Line Items]
Maximum borrowing capacity			10,000,000
Line of Credit | Revolving Credit Facility | Swingline Sub-Facility
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 5,000,000

Redeemable Preferred Stock (Det

Redeemable Preferred Stock (Details) $ / shares in Units, $ in Thousands		3 Months Ended	6 Months Ended
	Apr. 29, 2024 USD ($) $ / shares shares	Jun. 30, 2024 USD ($) $ / shares shares	Jun. 30, 2024 USD ($) $ / shares	Jun. 30, 2023 USD ($)
Temporary Equity [Line Items]
Issuance of Series A Preferred Stock, net of issuance costs (in shares) | shares		150,000
Issuance of Series A redeemable convertible preferred stock, net of issuance costs		$ 130,784
Stock issuance costs			$ 9,077	$ 0
Proceeds from issuance of convertible stock			130,800
Proceeds from Issuance of Warrants			$ 9,100
Series A Redeemable Convertible Preferred Stock
Temporary Equity [Line Items]
Issuance of Series A Preferred Stock, net of issuance costs (in shares) | shares	150,000
Issuance of Series A redeemable convertible preferred stock, net of issuance costs	$ 150,000
Stock issuance costs	$ 10,100
Conversion ratio	307.6923
Conversion price (in dollars per share) | $ / shares	$ 3.25
Liquidation preference per share (in dollars per share) | $ / shares		$ 1,000	$ 1,000
Proceeds from issuance of convertible stock	$ 139,900
Redemption value		$ 300,000	$ 300,000
Redemption term			7 years
Warrants outstanding (in shares) | shares	11,111,112
Exercise price of warrants (in dollars per share) | $ / shares	$ 4.50
Warrants and rights outstanding term	24 months
Preferred Stock, Liquidation Preference, Value		$ 150,000	$ 150,000
Series A Redeemable Convertible Preferred Stock | Haveli
Temporary Equity [Line Items]
Investment owned, shares percentage		33%	33%
Series A Redeemable Convertible Preferred Stock | Preferred Stock, Scenario One
Temporary Equity [Line Items]
Redemption percentage	150%
Series A Redeemable Convertible Preferred Stock | Preferred Stock, Scenario Two
Temporary Equity [Line Items]
Redemption percentage	175%
Series A Redeemable Convertible Preferred Stock | Preferred Stock, Scenario Three
Temporary Equity [Line Items]
Redemption percentage	200%
Series A Redeemable Convertible Preferred Stock | Preferred Stock, Scenario Four
Temporary Equity [Line Items]
Redemption percentage	200%
Series A Redeemable Convertible Preferred Stock | Preferred Stock, Scenario Five
Temporary Equity [Line Items]
Redemption percentage	200%

Stockholder_s Equity (Details)

Stockholder’s Equity (Details)	6 Months Ended
	Jun. 30, 2024 vote class shares	Mar. 31, 2024 shares	Dec. 31, 2023 shares
Class of Stock [Line Items]
Number of classes of stock | class	3
Temporary equity, shares outstanding (in shares)	150,000	0	0
Class A Common Stock
Class of Stock [Line Items]
Voting rights | vote	1
Class B Common Stock
Class of Stock [Line Items]
Voting rights | vote	40
Shares converted (in shares)	1
Series A Redeemable Convertible Preferred Stock
Class of Stock [Line Items]
Temporary equity, shares authorized (in shares)	200,000,000		200,000,000
Temporary equity, shares issued (in shares)	150,000		0
Temporary equity, shares outstanding (in shares)	150,000		0

Stock-Based Compensation - 2012

Stock-Based Compensation - 2012 Stock Option Plan (Narrative) (Details) - 2012 Stock Plan	6 Months Ended
	Jun. 30, 2024
Outstanding stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of common stock value at grant date	100%
Vesting period	4 years
Incentive Stock Options | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of common stock value at grant date	110%
Stockholder percentage	10%

Stock-Based Compensation - 2021

Stock-Based Compensation - 2021 Equity Incentive Plan (Narrative) (Details) - shares		1 Months Ended
	Jan. 01, 2022	Jul. 31, 2021
2021 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)		23,000,000
Additional shares authorized (in shares)	34,500,000
Additional shares authorized as a percentage of outstanding common stock	5%
2021 Equity Incentive Plan | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		1 year
2021 Equity Incentive Plan | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period		4 years
2012 Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares)		36,101,718

Stock-Based Compensation - Sche

Stock-Based Compensation - Schedule of Stock Option Activity (Details) $ / shares in Units, $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024 USD ($) $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares
Weighted average exercise price
Exercised | $	$ 584
2012 Stock Plan
Number of options
Beginning Balance (in shares) | shares	19,946,000
Exercised (in shares) | shares	(472,000)
Cancelled and forfeited (in shares) | shares	(1,266,000)
Ending Balance (in shares) | shares	18,208,000	19,946,000
Vested and exercisable (in shares) | shares	16,020,000
Weighted average exercise price
Beginning Balance (in dollars per share) | $ / shares	$ 4.58
Vested (in dollars per share) | $ / shares	1.51
Cancelled and forfeited (in dollars per share) | $ / shares	9.70
Ending Balance (in dollars per share) | $ / shares	4.31	$ 4.58
Vested and exercisable (in dollars per share) | $ / shares	$ 4.31
Weighted average remaining contractual life (years)	5 years 4 months 17 days	5 years 7 months 13 days
Weighted average remaining contractual life, vested and exercisable (years)	5 years 4 months 2 days
Aggregate intrinsic value | $	$ 8,435	$ 11,762
Aggregate intrinsic value, vested and exercisable | $	$ 8,346

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	0		0		0	0
Vesting of early exercised stock options	$ 172	$ 184	$ 256	$ 758
Unrecognized compensation expense	$ 4,500				$ 4,500
Shares subject to repurchase obligation (in shares)	1,841				1,841		123,611
Fair value of shares subject to repurchase obligation	$ 0				$ 0		$ 400
2021 Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options unvested (in shares)	2,188,000				2,188,000		3,172,000
Weighted average grant-date fair value of options unvested (in dollars per share)	$ 2.15				$ 2.15		$ 2.57
Vesting of early exercised stock options	$ 1,200		2,800		$ 2,600	$ 6,700
Aggregate intrinsic value of options exercised	$ 100		$ 0		$ 600	$ 0
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense, period of recognition					2 years 2 months 12 days

Stock-Based Compensation - Sc_2

Stock-Based Compensation - Schedule of RSU Activity (Details) - Unvested restricted stock units - USD ($) $ / shares in Units, shares in Thousands, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Number of RSUs
Beginning Balance (in shares)			20,137
Granted period (in shares)			5,852
Vested (in shares)			(6,144)
Cancelled and forfeited (in shares)			(1,575)
Ending Balance (in shares)	18,270		18,270
Weighted average grant date fair value per share
Beginning Balance (in dollars per share)			$ 1.30
Granted (in dollars per share)			2.67
Vested (in dollars per share)			1.59
Cancelled and forfeited (in dollars per share)			1.62
Ending Balance (in dollars per share)	$ 1.62		$ 1.62
Unrecognized compensation expense	$ 27.7		$ 27.7
Unrecognized compensation expense, period of recognition			2 years 3 months 18 days
Vesting period			1 year
Vesting of early exercised stock options	$ 4.8	$ 5.9	$ 9.7	$ 24.4

Stock-Based Compensation - Perf

Stock-Based Compensation - Performance Stock Units (Narrative) (Details) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2023 tranche $ / shares shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of tranches | tranche					4
Stock based compensation expense	$ 7,271	$ 14,364	$ 15,342	$ 30,756
Unrecognized compensation expense	4,500		4,500
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized (in shares) | shares					5,500,000
Granted (in dollars per share) | $ / shares					$ 0.65
Performance Shares | Non-employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense	500	$ 100	1,100	$ 100
Unrecognized compensation expense	$ 1,900		$ 1,900
Unrecognized compensation expense, period of recognition			1 year 8 months 12 days

Stock-Based Compensation - Sc_3

Stock-Based Compensation - Schedule of Valuation Assumptions (Details) - Stock Options - Non-employee - Tranche Two	1 Months Ended
	Mar. 31, 2021 $ / shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested and exercisable (in dollars per share)	$ 3.80
Fair value of common stock (in dollars per share)	$ 18
Remaining contractual term (years)	14 years 9 months
Expected volatility	40%
Risk-free interest rate	1.71%
Expected dividend yield	0%

Stock-Based Compensation - Non-

Stock-Based Compensation - Non-Plan Co-Founder and Head of Blend Options (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Mar. 31, 2021	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)		0	0	0	0
Stock based compensation expense		$ 7,271	$ 14,364	$ 15,342	$ 30,756
Unrecognized compensation expense		4,500		$ 4,500
Non-employee | Class B Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	26,057,181
Granted (in dollars per share)	$ 8.58
Non-employee | Class B Common Stock | Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected to vest (in shares)	1,954,289
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense, period of recognition				2 years 2 months 12 days
Stock Options | Non-employee
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation expense		1,500	$ 4,600	$ 2,900	$ 9,400
Unrecognized compensation expense		$ 11,100		$ 11,100
Unrecognized compensation expense, period of recognition				3 years 1 month 6 days
Stock Options | Non-employee | Class B Common Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	15 years
Performance period	15 months

Stock-Based Compensation - Sc_4

Stock-Based Compensation - Schedule of Stock Based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock based compensation expense	$ 7,271	$ 14,364	$ 15,342	$ 30,756
Amount capitalized	500	0	1,130	0
Cost of revenue
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock based compensation expense	123	264	277	752
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock based compensation expense	2,567	4,829	5,919	12,960
Sales and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock based compensation expense	875	1,931	1,853	4,714
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock based compensation expense	$ 3,706	$ 7,340	$ 7,293	$ 12,330

Restructuring - Narrative (Deta

Restructuring - Narrative (Details)		1 Months Ended			3 Months Ended			6 Months Ended
	Jan. 09, 2023 USD ($)	Jan. 31, 2024 USD ($)	Aug. 31, 2023 USD ($) position	Jan. 31, 2023 USD ($) position	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Dec. 31, 2023 plan
Schedule of Restructuring and Related Costs [Line Items]
Number of restructuring plans | plan										2
Restructuring charges					$ 207,000	$ 2,349,000		$ 1,190,000	$ 15,132,000
Accelerated expense						2,100,000	$ 2,100,000
Workforce Reduction Plans
Schedule of Restructuring and Related Costs [Line Items]
Number of positions eliminated | position			150	340
Number of positions eliminated, period percent			19%	28%
Restructuring charges		$ 1,190,000	$ 7,685,000	$ 14,025,000	$ 200,000	$ 2,300,000		$ 1,200,000	$ 15,100,000
Executive transition costs
Schedule of Restructuring and Related Costs [Line Items]
Salary expense	$ 1,458,333
Salary accrual							$ 900,000

Restructuring - Schedule of Rec

Restructuring - Schedule of Reconciliation of the Restructuring Liability Balances (Details) - USD ($) $ in Thousands	1 Months Ended			3 Months Ended		6 Months Ended		12 Months Ended
	Jan. 31, 2024	Aug. 31, 2023	Jan. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Restructuring Reserve [Roll Forward]
Restructuring charges				$ 207	$ 2,349	$ 1,190	$ 15,132
Workforce Reduction Plans
Restructuring Reserve [Roll Forward]
Restructuring liability, beginning balance	$ 100		$ 1,614			100	1,614	$ 1,614
Restructuring charges	$ 1,190	$ 7,685	$ 14,025	200	$ 2,300	1,200	$ 15,100
Executive transition costs								1,107
Settlements						(1,290)		(24,331)
Restructuring liability, ending balance				$ 0		$ 0		$ 100

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 23	$ 53	$ 65	$ 124
Effective income tax rate	(0.20%)	(0.20%)	(0.20%)	(0.20%)

Net Loss Per Share - Schedule o

Net Loss Per Share - Schedule of Earnings Per Share (Details) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024 USD ($) class $ / shares shares	Mar. 31, 2024 USD ($)	Jun. 30, 2023 USD ($) $ / shares shares	Mar. 31, 2023 USD ($)	Jun. 30, 2024 USD ($) class $ / shares shares	Jun. 30, 2023 USD ($) $ / shares shares	Dec. 31, 2023 shares
Earnings Per Share [Abstract]
Number of classes of stock | class	3				3
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Shares issued (in shares) | shares	254,207,000				254,207,000		249,910,000
Shares outstanding (in shares) | shares	254,207,000				254,207,000		249,910,000
Net loss attributable to Blend Labs, Inc.	$ (19,407)	$ (20,668)	$ (41,231)	$ (65,417)	$ (40,075)	$ (106,648)
Less: Accretion of redeemable noncontrolling interest to redemption value	(1,527)	$ (1,461)	(1,592)	$ (2,056)	(2,988)	(3,648)
Less: Accretion of Series A Preferred Stock to redemption value	(2,661)		0		(2,661)	0
Net loss attributable to Blend Labs, Inc. common stockholders, basic	(23,595)		(42,823)		(45,724)	(110,296)
Net loss attributable to Blend Labs, Inc. common stockholders, diluted	$ (23,595)		$ (42,823)		$ (45,724)	$ (110,296)
Denominator:
Weighted average common stock outstanding, basic (in shares) | shares	253,069,000		244,262,000		252,000,000	242,861,000
Weighted average common stock outstanding, diluted (in shares) | shares	253,069,000		244,262,000		252,000,000	242,861,000
Net loss per share attributable to Blend Labs, Inc.:
Basic (in dollars per share) | $ / shares	$ (0.09)		$ (0.18)		$ (0.18)	$ (0.45)
Diluted (in dollars per share) | $ / shares	$ (0.09)		$ (0.18)		$ (0.18)	$ (0.45)
Class A Common Stock
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Shares issued (in shares) | shares	248,985,000				248,985,000		240,262,000
Shares outstanding (in shares) | shares	248,985,000				248,985,000		240,262,000
Net loss attributable to Blend Labs, Inc.	$ (18,799)		$ (39,484)		$ (38,683)	$ (102,022)
Less: Accretion of redeemable noncontrolling interest to redemption value	(1,479)		(1,525)		(2,884)	(3,490)
Less: Accretion of Series A Preferred Stock to redemption value	(2,578)		0		(2,569)	0
Net loss attributable to Blend Labs, Inc. common stockholders, basic	(22,856)		(41,009)		(44,136)	(105,512)
Net loss attributable to Blend Labs, Inc. common stockholders, diluted	$ (22,856)		$ (41,009)		$ (44,136)	$ (105,512)
Denominator:
Weighted average common stock outstanding, basic (in shares) | shares	245,135,000		233,910,000		243,246,000	232,327,000
Weighted average common stock outstanding, diluted (in shares) | shares	245,135,000		233,910,000		243,246,000	232,327,000
Net loss per share attributable to Blend Labs, Inc.:
Basic (in dollars per share) | $ / shares	$ (0.09)		$ (0.18)		$ (0.18)	$ (0.45)
Diluted (in dollars per share) | $ / shares	$ (0.09)		$ (0.18)		$ (0.18)	$ (0.45)
Class B Common Stock
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Shares issued (in shares) | shares	5,222,000				5,222,000		9,648,000
Shares outstanding (in shares) | shares	5,222,000				5,222,000		9,648,000
Net loss attributable to Blend Labs, Inc.	$ (608)		$ (1,747)		$ (1,392)	$ (4,626)
Less: Accretion of redeemable noncontrolling interest to redemption value	(48)		(67)		(104)	(158)
Less: Accretion of Series A Preferred Stock to redemption value	(83)		0		(92)	0
Net loss attributable to Blend Labs, Inc. common stockholders, basic	(739)		(1,814)		(1,588)	(4,784)
Net loss attributable to Blend Labs, Inc. common stockholders, diluted	$ (739)		$ (1,814)		$ (1,588)	$ (4,784)
Denominator:
Weighted average common stock outstanding, basic (in shares) | shares	7,934,000				8,754,000	10,534,000
Weighted average common stock outstanding, diluted (in shares) | shares	7,934,000		10,352,000		8,754,000	10,534,000
Net loss per share attributable to Blend Labs, Inc.:
Basic (in dollars per share) | $ / shares	$ (0.09)		$ (0.18)		$ (0.18)	$ (0.45)
Diluted (in dollars per share) | $ / shares	$ (0.09)		$ (0.18)		$ (0.18)	$ (0.45)
Class C Common Stock
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Shares issued (in shares) | shares	0				0		0
Shares outstanding (in shares) | shares	0				0		0

Net Loss Per Share - Schedule_2

Net Loss Per Share - Schedule of Antidilutive Securities (Details) - shares shares in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total antidilutive securities (in shares)	125,900	69,296
Outstanding stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total antidilutive securities (in shares)	18,208	22,541
Early exercised options subject to repurchase
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total antidilutive securities (in shares)	2	284
Non-plan Co-Founder and Head of Blend options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total antidilutive securities (in shares)	26,057	26,057
Unvested restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total antidilutive securities (in shares)	18,270	18,816
Unvested performance stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total antidilutive securities (in shares)	5,500	1,000
Common stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total antidilutive securities (in shares)	11,709	598
Series A Redeemable Convertible Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Total antidilutive securities (in shares)	46,154	0

Segment Information (Details)

Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Total revenue	$ 40,480	$ 42,815	$ 75,427	$ 80,151
Total gross profit	21,678	23,493	39,819	39,346
Operating expenses:
Research and development	12,916	22,091	27,099	48,348
Sales and marketing	9,370	16,128	19,585	33,696
General and administrative	12,524	19,646	26,459	40,327
Restructuring	207	2,349	1,190	15,132
Total operating expenses	35,017	60,214	74,333	137,503
Loss from operations	(13,339)	(36,721)	(34,514)	(98,157)
Interest expense	(1,648)	(7,947)	(6,747)	(15,516)
Other income (expense), net	(4,411)	3,232	1,242	6,114
Loss before income taxes	(19,398)	(41,436)	(40,019)	(107,559)
Professional services
Segment Reporting Information [Line Items]
Total revenue	2,221	2,216	4,325	3,950
Blend Platform segment
Segment Reporting Information [Line Items]
Total revenue	28,696	30,331	52,536	55,035
Total gross profit	20,341	22,140	36,383	38,235
Blend Platform segment | Software platform
Segment Reporting Information [Line Items]
Total revenue	26,475	28,115	48,211	51,085
Total gross profit	20,801	22,629	37,362	39,796
Blend Platform segment | Professional services
Segment Reporting Information [Line Items]
Total revenue	2,221	2,216	4,325	3,950
Total gross profit	(460)	(489)	(979)	(1,561)
Title segment
Segment Reporting Information [Line Items]
Total revenue	11,784	12,484	22,891	25,116
Total gross profit	$ 1,337	$ 1,353	$ 3,436	$ 1,111

Subsequent Events (Details)

Subsequent Events (Details) $ in Millions	Aug. 07, 2024 USD ($)
Subsequent Event
Subsequent Event [Line Items]
Authorized amount	$ 25