BLND — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-06

• (2) Net of $0.1 million and $0.2 million of additions to capitalized internal-use software for the three and six months ended June 30, 2026, and $1.1 million and $2.3 million for the three and six months ended June 30, 2025, respectively.

• Loss before equity in losses of equity method investee(4)(12)(10)(17)

• Total revenue increased by $2.2 million, or 7%, for the three months ended June 30, 2026 compared to the three months ended June 30, 2025.

• •Mortgage Suite revenue increased by $1.3 million, or 7%, primarily due to an increase in overall mortgage market originations year-over-year and new customer deployments; partially offset by customer churn and the transition to a partnership model for verification of income.

• •Consumer Banking Suite revenue increased by $0.7 million, or 6%, primarily due to deployments of several large customers, partially offset by customer churn and the transition to a partnership model for verification of income.

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• Loss before equity in losses of equity method investee(5,084)(6,896)

• (2) Net of $0.1 million, $1.2 million of additions to capitalized internal-use software for the three months ended March 31, 2026 and 2025, respectively.

• Loss before equity in losses of equity method investee(16)(26)

• Comparison of the Three Months Ended March 31, 2026 and 2025

• Total revenue increased by $4.0 million, or 15%, for the three months ended March 31, 2026 compared to the three months ended March 31, 2025.

Text added vs the prior filing · source: 10-Q · 2026-08-06

• With the oversight of the Audit Committee, we have developed a remediation plan to address the material weaknesses described above. The remediation measures we have taken to date include:

• •Designing and implementing new manual and automated controls and enhancing existing controls to ensure (i) the accuracy and occurrence of transaction quantity used to record revenue, including the completeness and accuracy of data flows and automated data transformations of the quantity information…

• •Designing and implementing new and enhancing existing IT general controls over financially relevant systems used in the collection, transferring and processing of data used in the billing and revenue reporting process.

• We believe our remediation plan will be sufficient to remediate the material weaknesses. However, the material weaknesses will not be considered remediated until management has fully completed the design and implementation of the remediation

• actions and the controls operate for a sufficient period of time, and management has concluded, through testing, that these controls are effective. As we test our internal controls over financial reporting, we may determine that additional measures or modifications to the remediation plan are necess…

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• We are enhancing the design of our internal controls to remediate the material weaknesses which includes designing and implementing procedures to ensure (i) the completeness and accuracy of revenue data flows and automated data transformations; (ii) the accuracy of pricing; and (iii) the accuracy of…

• We believe these measures will remediate the material weaknesses; however, the material weaknesses will not be considered remediated until the applicable controls have been designed, implemented and operated for a sufficient period of time and management has concluded, through testing, that these co…

• There were no changes in our internal control over financial reporting identified in management’s evaluation pursuant to Rules 13a-15(d) or 15d-15(d) of the Exchange Act during the quarter ended March 31, 2026 that materially affected, or are reasonably likely to materially affect, our internal cont…

Text added vs the prior filing · source: 10-Q · 2026-08-06

• Our internal resources and personnel may in the future be insufficient to avoid accounting errors, and there can be no assurance that we will not have additional material weaknesses in the future. Any failure to develop or maintain effective controls or any

• divert their attention away from the day-to-day management of our business, and our business, financial condition, and results of operations could be adversely affected.

• Further, we cannot predict whether assertions of third-party intellectual property rights or claims arising from such assertions would substantially adversely affect our business, financial condition, and results of operations. The defense of these claims and any future infringement claims, whether …

• expend additional development resources to redesign our offerings, and enter into potentially unfavorable royalty or license agreements in order to obtain the right to use necessary technologies. Royalty or licensing agreements, if required, may be unavailable on terms acceptable to us, or at all. I…

• Our Class A common stock has one vote per share, our Class B common stock has 40 votes per share, and our Class C common stock has no voting rights, except as otherwise required by law. As of June 30, 2026, Nima Ghamsari, Head of Blend, Co-Founder, and Chair of our board of directors, beneficially o…

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• Our internal resources and personnel may in the future be insufficient to avoid accounting errors, and there can be no assurance that we will not have additional material weaknesses in the future. Any failure to develop or maintain effective controls or any difficulties encountered in their implemen…

• Our master agreement with AWS will remain in effect until terminated by AWS or us. We have a three-year agreement with AWS, expiring on June 30, 2026, that may only be terminated by us or AWS for cause upon a material breach of the agreement, subject to the terminating party providing prior written …

• Further, we cannot predict whether assertions of third-party intellectual property rights or claims arising from such assertions would substantially adversely affect our business, financial condition, and results of operations. The defense of these claims and any future infringement claims, whether …

• of amendments to our Amended and Restated Certificate of Incorporation and amended and restated bylaws, and the approval of any merger, consolidation, sale of all or substantially all of our assets or other major corporate transaction.

• Our Class A common stock has one vote per share, our Class B common stock has 40 votes per share, and our Class C common stock has no voting rights, except as otherwise required by law. As of March 31, 2026, Nima Ghamsari, Head of Blend, Co-Founder, and Chair of our board of directors, beneficially …

Text added vs the prior filing · source: 10-Q · 2026-08-06

• On June 12, 2026, Mr. Venkatramani adopted a Rule 10b5-1 trading arrangement providing for the sale from time to time of an aggregate of up to 205,803 shares of our Class A common stock, with the exact number of shares to be sold pursuant to Mr. Venkatramani’s trading arrangement to (i) be determine…

Text removed vs the prior filing · source: 10-Q · 2026-05-07

• On March 18, 2026, Eric Woersching, a member of our board of directors, adopted a Rule 10b5-1 trading arrangement providing for the sale from time to time of an aggregate of up to 50,000 shares of our Class A common stock, with the exact number of shares to be sold pursuant to Mr. Woersching’s tradi…