Blend Labs Inc(NYSE:BLND)

Blend Labs, Inc. engages in the provision of cloud-based software platform solutions for financial services firms in the United States. It operates in two segments, Blend Platform and Title365. The company's Blend Builder Platform offers a suite of products that powers digital-first consumer journey...
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At a glance:
Bull Thesis:
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Income Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
revenue | 42,785,000 | 55,353,000 | 65,539,000 | 71,524,000 | 80,990,000 | 89,568,000 | 32,062,000 | |||||||||||||
yoy | -47.17% | -38.20% | 104.41% | |||||||||||||||||
qoq | -22.71% | -15.54% | -8.37% | -11.69% | -9.58% | 179.36% | ||||||||||||||
software platform | 27,993,000 | 30,336,000 | 30,459,000 | 29,391,000 | 24,260,000 | 27,637,000 | 31,066,000 | 26,475,000 | 21,736,000 | |||||||||||
professional services | 2,850,000 | 2,096,000 | 2,401,000 | 2,132,000 | 2,510,000 | 2,485,000 | 2,038,000 | 2,221,000 | 2,104,000 | 2,258,000 | 2,137,000 | 2,216,000 | 1,734,000 | |||||||
total revenue | 30,843,000 | 32,432,000 | 32,860,000 | 31,523,000 | 26,770,000 | 41,408,000 | 45,184,000 | 40,480,000 | 34,947,000 | 36,104,000 | 40,591,000 | 42,815,000 | 37,336,000 | |||||||
cost of revenue | 28,378,000 | 34,243,000 | 40,274,000 | 42,655,000 | 46,045,000 | 49,241,000 | 12,360,000 | |||||||||||||
total cost of revenue | 7,478,000 | 7,985,000 | 8,404,000 | 8,218,000 | 7,812,000 | 16,679,000 | 19,188,000 | 18,802,000 | 16,806,000 | 16,378,000 | 18,528,000 | 19,322,000 | 21,483,000 | |||||||
gross profit | 23,365,000 | 24,447,000 | 24,456,000 | 23,305,000 | 18,958,000 | 24,729,000 | 25,996,000 | 21,678,000 | 18,141,000 | 19,726,000 | 22,063,000 | 23,493,000 | 15,853,000 | 14,407,000 | 21,110,000 | 25,265,000 | 28,869,000 | 34,945,000 | 40,327,000 | 19,702,000 |
yoy | 23.25% | -1.14% | -5.92% | 7.51% | 4.50% | 25.36% | 17.83% | -7.73% | 14.43% | 36.92% | 4.51% | -7.01% | -45.09% | -58.77% | -47.65% | 28.24% | ||||
qoq | -4.43% | -0.04% | 4.94% | 22.93% | -23.34% | -4.87% | 19.92% | 19.50% | -8.04% | -10.59% | -6.09% | 48.19% | 10.04% | -31.75% | -16.45% | -12.48% | -17.39% | -13.35% | 104.68% | |
gross margin % | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | Infinity% | 33.67% | 38.14% | 38.55% | 40.36% | 43.15% | 45.02% | 61.45% |
operating expenses: | ||||||||||||||||||||
research and development | 9,413,000 | 9,468,000 | 8,522,000 | 7,332,000 | 7,520,000 | 8,861,000 | 10,127,000 | 12,916,000 | 14,183,000 | 14,417,000 | 18,826,000 | 22,091,000 | 26,257,000 | 33,248,000 | 34,240,000 | 35,500,000 | 35,106,000 | 28,740,000 | 25,518,000 | 20,884,000 |
sales and marketing | 6,198,000 | 7,063,000 | 7,873,000 | 6,950,000 | 7,188,000 | 6,581,000 | 9,883,000 | 9,370,000 | 10,215,000 | 11,940,000 | 14,494,000 | 16,128,000 | 17,568,000 | 19,951,000 | 20,518,000 | 22,438,000 | 22,341,000 | 27,984,000 | 21,957,000 | 18,271,000 |
general and administrative | 12,153,000 | 12,392,000 | 12,879,000 | 13,619,000 | 11,224,000 | 10,958,000 | 13,140,000 | 12,524,000 | 13,935,000 | 14,542,000 | 15,819,000 | 19,646,000 | 20,681,000 | 33,406,000 | 32,140,000 | 36,472,000 | 37,102,000 | 34,314,000 | 59,024,000 | 20,181,000 |
restructuring | 662,000 | 31,000 | 93,000 | 28,000 | 719,000 | 116,000 | 6,165,000 | 207,000 | 983,000 | 694,000 | 9,122,000 | 2,349,000 | 12,783,000 | 2,959,000 | 5,936,000 | 6,380,000 | ||||
total operating expenses | 28,426,000 | 28,954,000 | 29,367,000 | 27,929,000 | 26,651,000 | 26,516,000 | 39,315,000 | 35,017,000 | 39,316,000 | 41,593,000 | 58,261,000 | 60,214,000 | 77,289,000 | 89,564,000 | 150,966,000 | 496,681,000 | 98,617,000 | 94,810,000 | 110,863,000 | 59,336,000 |
income from operations | -5,061,000 | -4,507,000 | -4,911,000 | -4,624,000 | -7,693,000 | -1,787,000 | -13,319,000 | -13,339,000 | -21,175,000 | -21,867,000 | -36,198,000 | -36,721,000 | -61,436,000 | -75,157,000 | -129,856,000 | -471,416,000 | -69,748,000 | -59,865,000 | -70,536,000 | -39,634,000 |
yoy | -34.21% | 152.21% | -63.13% | -65.33% | -63.67% | -91.83% | -63.21% | -63.67% | -65.53% | -70.90% | -72.12% | -92.21% | -11.92% | 25.54% | 84.10% | 1089.42% | ||||
qoq | 12.29% | -8.23% | 6.21% | -39.89% | 330.50% | -86.58% | -0.15% | -37.01% | -3.16% | -39.59% | -1.42% | -40.23% | -18.26% | -42.12% | -72.45% | 575.88% | 16.51% | -15.13% | 77.97% | |
operating margin % | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -175.66% | -234.60% | -719.29% | -97.52% | -73.92% | -78.75% | -123.62% |
other income | 40,000 | 1,377,000 | 17,348,000 | 1,018,000 | 1,114,000 | 1,105,000 | 10,710,000 | -4,411,000 | 5,653,000 | -1,498,000 | 2,632,000 | 3,232,000 | 2,882,000 | 1,538,000 | 3,281,000 | 6,000 | 91,000 | 110,000 | 121,000 | 112,000 |
income before income taxes | -5,021,000 | -3,130,000 | 12,437,000 | -3,606,000 | -6,579,000 | -682,000 | -2,609,000 | -19,398,000 | -20,621,000 | -30,450,000 | -41,776,000 | -41,436,000 | -66,123,000 | -80,967,000 | -132,733,000 | -477,136,000 | -75,215,000 | -65,419,000 | -76,030,000 | -39,522,000 |
income tax expense | -63,000 | -151,000 | -27,000 | -41,000 | -30,000 | -20,750 | -18,000 | -23,000 | -42,000 | |||||||||||
loss before equity in losses of equity method investees | -5,084,000 | |||||||||||||||||||
equity in losses of equity method investees, net of tax | -381,000 | |||||||||||||||||||
loss from continuing operations | -5,465,000 | -3,647,000 | -6,609,000 | |||||||||||||||||
loss from discontinued operations | -2,584,000 | |||||||||||||||||||
net income | -8,049,000 | -3,458,000 | 12,532,000 | -6,645,000 | -9,412,000 | -708,000 | -2,627,000 | -19,421,000 | -20,663,000 | -30,376,000 | -41,820,000 | -41,489,000 | -66,194,000 | -81,443,000 | -132,747,000 | -477,202,000 | -72,418,000 | -71,511,000 | -76,330,000 | 5,766,000 |
yoy | -14.48% | 388.42% | -577.05% | -65.78% | -54.45% | -97.67% | -93.72% | -53.19% | -68.78% | -62.70% | -68.50% | -91.31% | -8.59% | 13.89% | 73.91% | -8376.14% | ||||
qoq | 132.76% | -127.59% | -288.59% | -29.40% | 1229.38% | -73.05% | -86.47% | -6.01% | -31.98% | -27.36% | 0.80% | -37.32% | -18.72% | -38.65% | -72.18% | 558.95% | 1.27% | -6.31% | -1423.79% | |
net income margin % | -Infinity% | -Infinity% | Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -Infinity% | -190.35% | -239.82% | -728.12% | -101.25% | -88.30% | -85.22% | 17.98% |
less: net loss attributable to noncontrolling interest included in discontinued operations | 182,000 | |||||||||||||||||||
net loss attributable to blend labs, inc. | -8,049,000 | -6,645,000 | -9,230,000 | -825,000 | -2,445,000 | -19,407,000 | -20,668,000 | -30,285,000 | -41,760,000 | -41,231,000 | -65,417,000 | -80,569,000 | -126,128,000 | -72,104,000 | -71,687,000 | -76,925,000 | ||||
less: accretion of redeemable noncontrolling interest to redemption value from discontinued operations | -1,254,000 | |||||||||||||||||||
less: accretion of series a redeemable convertible preferred stock to redemption value | -4,731,000 | -4,696,000 | -4,558,000 | -4,376,000 | -4,202,000 | -4,170,000 | -4,048,000 | -2,661,000 | ||||||||||||
net loss attributable to blend labs, inc. common stockholders | -12,780,000 | -11,021,000 | -14,686,000 | -6,506,000 | -8,253,000 | -23,595,000 | -22,129,000 | -31,812,000 | -43,212,000 | -42,823,000 | -67,473,000 | -82,710,000 | -133,975,000 | -478,379,000 | -73,546,000 | |||||
net income per share | -0.05 | -0.03 | 0.03 | |||||||||||||||||
continuing operations | -0.04 | -0.03 | 0.03 | -0.03 | -0.04 | |||||||||||||||
discontinued operations | -0.01 | -0.01 | -0.01 | |||||||||||||||||
weighted-average shares used for eps calculation | ||||||||||||||||||||
basic and diluted | 255,630 | 258,949 | 259,211 | 258,832 | 253,921 | 254,910 | 253,069 | 250,932 | 245,206 | 246,410 | 244,262 | 241,444 | 234,161 | 230,329 | 131,985 | 200,176 | ||||
comprehensive loss: | ||||||||||||||||||||
unrealized gain on marketable securities | -106 | -62 | 6 | -215 | 448 | -42 | -104 | 801 | 181 | -773 | 821 | -378 | 835 | -502 | -1,845 | -6 | ||||
foreign currency translation gain | 172 | 42 | 103 | -7 | -43 | 52 | 13 | 9 | 42 | 106 | -11 | -18 | 75 | 55 | 77 | 28 | ||||
comprehensive loss | -7,983 | -6,696 | -9,449 | -871 | -2,166 | -19,463 | -20,758 | -29,533 | -41,533 | -42,273 | -65,391 | -79,991 | -131,857 | -74,235 | -72,231 | -76,422 | ||||
less: comprehensive loss attributable to noncontrolling interest included in discontinued operations | 182 | |||||||||||||||||||
comprehensive loss attributable to blend labs, inc. | -7,983 | -6,696 | -9,267 | -988 | -1,984 | -19,449 | -20,763 | -29,442 | -41,473 | -42,015 | -64,614 | -79,117 | -125,238 | -73,921 | -72,407 | -77,017 | ||||
interest expense | -1,648,000 | -5,099,000 | -7,085,000 | -8,210,000 | -7,947,000 | -7,569,000 | -7,348,000 | -6,158,000 | -5,726,000 | -5,558,000 | -5,664,000 | -5,615,000 | ||||||||
income from continuing operations | 538,500 | 12,410,000 | ||||||||||||||||||
net income from discontinued operations | -1,419,750 | 122,000 | -2,803,000 | |||||||||||||||||
net income attributable to blend labs, inc. | -835,750 | 12,532,000 | -441,371,000 | |||||||||||||||||
net income attributable to blend labs, inc. common stockholders | -4,433,250 | 7,974,000 | ||||||||||||||||||
basic: | ||||||||||||||||||||
diluted: | ||||||||||||||||||||
weighted-average shares used for eps calculation | ||||||||||||||||||||
basic | 259,631 | 235,267 | 232,501 | 51,956 | ||||||||||||||||
diluted | 268,719 | 235,267 | 232,501 | 77,864 | ||||||||||||||||
comprehensive income: | ||||||||||||||||||||
comprehensive income | -893 | 12,573 | -477,627 | 5,760 | ||||||||||||||||
comprehensive income attributable to blend labs, inc. | -847.5 | 12,573 | -441,796 | |||||||||||||||||
net loss from discontinued operations | -2,998,000 | |||||||||||||||||||
unrealized loss on marketable securities | -44 | -20.75 | -92 | |||||||||||||||||
title | 11,286,000 | 12,080,000 | 11,784,000 | 11,107,000 | 10,232,000 | 11,949,000 | 12,484,000 | 12,632,000 | ||||||||||||
less: net loss attributable to noncontrolling interest | -117,000 | 182,000 | 14,000 | -5,000 | 91,000 | 60,000 | 258,000 | 777,000 | 10,691,000 | 6,619,000 | 35,831,000 | 314,000 | ||||||||
less: accretion of redeemable noncontrolling interest to redemption value | -1,511,000 | -1,760,000 | -1,527,000 | -1,461,000 | -1,527,000 | -1,452,000 | -1,592,000 | -2,056,000 | -2,141,000 | -7,847,000 | -37,008,000 | -1,442,000 | ||||||||
net income per share | -0.05 | -0.03 | 0.03 | |||||||||||||||||
basic and diluted | -0.03 | -0.03 | -0.09 | -0.09 | -0.13 | -0.18 | -0.18 | -0.28 | -0.32 | -0.31 | -0.38 | |||||||||
less: comprehensive loss attributable to noncontrolling interest | -117 | 182 | 14 | -5 | 91 | 60 | 258 | 777 | 874 | 6,619 | 35,831 | 314 | ||||||||
software | 19,397,500 | 26,505,000 | 28,115,000 | 22,970,000 | ||||||||||||||||
amortization of acquired intangible assets | 275,000 | 4,068,000 | 4,068,000 | 3,772,000 | 4,364,000 | |||||||||||||||
impairment of intangible assets and goodwill | 57,857,000 | 391,823,000 | ||||||||||||||||||
income tax benefit | 74,000 | -44,000 | -53,000 | -71,000 | -476,000 | -14,000 | -66,000 | 2,797,000 | -6,092,000 | -300,000 | 45,288,000 | |||||||||
net income per share | -0.05 | -0.03 | 0.03 | |||||||||||||||||
basic | -0.738 | -0.57 | -2.06 | |||||||||||||||||
diluted | -0.738 | -0.57 | -2.06 | |||||||||||||||||
less: undistributed earnings attributable to participating securities | -5,766,000 | |||||||||||||||||||
less: net income attributable to noncontrolling interest | -148,750 | -595,000 | ||||||||||||||||||
less: comprehensive income attributable to noncontrolling interest | -176 | -595 | ||||||||||||||||||
net income attributable to common stockholders |
Balance Sheets:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 | 2021-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
assets | ||||||||||||||||||||
current assets: | ||||||||||||||||||||
cash and cash equivalents | 37,430,000 | 43,578,000 | 55,021,000 | 36,499,000 | 56,244,000 | 42,243,000 | 55,041,000 | 45,450,000 | 84,521,000 | 30,962,000 | 84,555,000 | 34,980,000 | 46,195,000 | 124,199,000 | 114,380,000 | 132,683,000 | 167,666,000 | 213,082,000 | 276,063,000 | 369,726,000 |
marketable securities and other investments | 21,607,000 | 24,739,000 | 22,234,000 | 51,801,000 | 48,574,000 | 56,233,000 | 61,744,000 | 67,153,000 | 43,504,000 | 105,960,000 | 160,406,000 | 229,948,000 | ||||||||
trade and other receivables, net of allowance for credit losses of 79 and 112, respectively | 17,880,000 | |||||||||||||||||||
prepaid expenses and other current assets | 16,183,000 | 15,121,000 | 20,105,000 | 17,128,000 | 15,916,000 | 19,329,000 | 13,722,000 | 10,315,000 | 13,321,000 | 14,569,000 | 18,645,000 | 22,423,000 | 23,405,000 | 19,231,000 | 25,445,000 | 21,938,000 | 27,825,000 | 31,713,000 | 37,264,000 | 27,062,000 |
current assets held for sale from discontinued operations | 5,640,000 | 6,427,000 | 6,440,000 | 8,518,000 | ||||||||||||||||
total current assets | 93,100,000 | 97,864,000 | 115,988,000 | 126,830,000 | 139,944,000 | 135,170,000 | 146,401,000 | 142,520,000 | 159,525,000 | 169,836,000 | 283,189,000 | 309,370,000 | 350,156,000 | 396,096,000 | 453,760,000 | 503,279,000 | 560,826,000 | 613,018,000 | 661,704,000 | 517,406,000 |
property and equipment | 22,624,000 | 22,997,000 | 22,978,000 | 21,179,000 | 16,993,000 | 12,321,000 | 9,723,000 | 7,617,000 | 5,984,000 | 3,945,000 | 4,451,000 | 4,973,000 | 5,408,000 | 5,742,000 | 6,037,000 | 6,239,000 | 5,895,000 | 6,155,000 | 8,412,000 | 8,596,000 |
operating lease right-of-use assets | 1,271,000 | 1,394,000 | 1,573,000 | 1,780,000 | 262,000 | 1,469,000 | 1,715,000 | 7,516,000 | 8,358,000 | 8,565,000 | 9,411,000 | 10,246,000 | 11,055,000 | 11,668,000 | 13,005,000 | 13,394,000 | 14,245,000 | 14,713,000 | 13,908,000 | 15,070,000 |
deferred contract costs | 3,382,000 | 3,425,000 | 3,136,000 | 3,399,000 | 3,221,000 | 2,868,000 | 2,063,000 | 2,020,000 | 2,197,000 | 2,453,000 | 2,233,000 | 2,467,000 | 1,474,000 | 1,691,000 | 1,956,000 | 2,657,000 | 3,326,000 | 4,178,000 | 3,303,000 | 3,939,000 |
other non-current assets | 40,882,000 | 41,425,000 | 42,559,000 | 25,938,000 | 21,930,000 | 24,103,000 | 16,848,000 | 16,344,000 | 16,299,000 | 11,867,000 | 9,662,000 | 9,006,000 | 9,868,000 | 10,082,000 | 10,521,000 | 8,129,000 | 8,617,000 | 8,828,000 | 8,530,000 | 14,196,000 |
non-current assets held for sale from discontinued operations | 2,940,000 | 3,263,000 | 3,873,000 | 5,839,000 | ||||||||||||||||
total assets | 161,259,000 | 170,045,000 | 189,566,000 | 183,072,000 | 188,266,000 | 178,012,000 | 186,129,000 | 185,410,000 | 201,760,000 | 206,065,000 | 318,354,000 | 350,496,000 | 385,442,000 | 432,764,000 | 492,768,000 | 599,324,000 | 1,054,430,000 | 1,112,486,000 | 1,178,226,000 | 1,043,537,000 |
liabilities, redeemable equity and stockholders’ equity | ||||||||||||||||||||
current liabilities: | ||||||||||||||||||||
accounts payable | 259,000 | 1,826,000 | 772,000 | 1,201,000 | 2,666,000 | 2,417,000 | 1,863,000 | 1,084,000 | 1,898,000 | 2,170,000 | 2,121,000 | 3,149,000 | 1,932,000 | 1,260,000 | 2,550,000 | 3,302,000 | 2,116,000 | 6,160,000 | 6,809,000 | 6,273,000 |
deferred revenue | 34,022,000 | 19,385,000 | 25,325,000 | 32,746,000 | 33,266,000 | 19,240,000 | 19,857,000 | 20,832,000 | 21,540,000 | 8,984,000 | 10,056,000 | 11,970,000 | 13,046,000 | 8,695,000 | 9,959,000 | 12,046,000 | 14,172,000 | 8,068,000 | 10,028,000 | 11,478,000 |
accrued compensation | 3,988,000 | 4,555,000 | 4,596,000 | 2,854,000 | 3,901,000 | 3,976,000 | 6,046,000 | 3,225,000 | 5,186,000 | 5,562,000 | 9,867,000 | 4,741,000 | 11,035,000 | 10,059,000 | 13,753,000 | 9,576,000 | 13,489,000 | 18,140,000 | 13,397,000 | 13,819,000 |
other current liabilities | 13,181,000 | 8,872,000 | 9,235,000 | 10,152,000 | 11,467,000 | 13,316,000 | 17,478,000 | 16,383,000 | 13,935,000 | 14,858,000 | 14,768,000 | 15,016,000 | 13,906,000 | 15,459,000 | 17,829,000 | 23,065,000 | 24,264,000 | 27,662,000 | 33,385,000 | 29,693,000 |
current liabilities held for sale from discontinued operations | 4,816,000 | 5,744,000 | 5,790,000 | 6,793,000 | ||||||||||||||||
total current liabilities | 51,450,000 | 39,454,000 | 45,672,000 | 52,743,000 | 58,093,000 | 38,949,000 | 45,244,000 | 41,524,000 | 42,559,000 | 31,574,000 | 36,812,000 | 34,876,000 | 39,919,000 | 35,473,000 | 44,091,000 | 47,989,000 | 54,041,000 | 60,030,000 | 63,619,000 | 256,840,000 |
other non-current liabilities | 1,496,000 | 1,415,000 | 1,420,000 | 1,795,000 | 291,000 | 580,000 | 1,292,000 | 1,571,000 | 2,056,000 | 2,228,000 | 3,356,000 | 3,515,000 | 4,407,000 | 5,478,000 | 5,584,000 | 6,006,000 | 8,127,000 | 13,415,000 | 12,615,000 | |
total liabilities | 52,946,000 | 41,023,000 | 47,252,000 | 55,396,000 | 59,287,000 | 40,330,000 | 47,491,000 | 48,267,000 | 189,867,000 | 179,118,000 | 267,308,000 | 265,867,000 | 272,068,000 | 268,843,000 | 277,720,000 | 281,882,000 | 290,379,000 | 301,895,000 | 302,985,000 | 510,818,000 |
commitments and contingencies | ||||||||||||||||||||
series a redeemable convertible preferred stock, par value 0.00001 per share: 200,000 shares authorized as of march 31, 2026 and december 31, 2025, 150 shares issued and outstanding as of march 31, 2026 and december 31, 2025, respectively | 164,226,000 | |||||||||||||||||||
stockholders’ equity: | ||||||||||||||||||||
class a, class b and class c common stock, par value 0.00001 per share: 3,000,000 (class a 1,800,000, class b 600,000, class c 600,000) shares authorized as of march 31, 2026 and december 31, 2025; 247,336 (class a 244,080, class b 3,256, class c 0) and 256,043 (class a 252,787, class b 3,256, class c 0) shares issued and outstanding as of march 31, 2026 and december 31, 2025, respectively | 2,000 | |||||||||||||||||||
additional paid-in capital | 1,343,247,000 | 1,360,704,000 | 1,375,276,000 | 1,377,769,000 | 1,376,752,000 | 1,328,015,000 | 1,333,781,000 | 1,335,928,000 | 1,326,187,000 | 1,321,944,000 | 1,318,037,000 | 1,311,539,000 | 1,299,603,000 | 1,286,815,000 | 1,260,092,000 | 1,238,476,000 | 1,244,466,000 | 1,218,213,000 | 1,199,914,000 | 77,661,000 |
accumulated other comprehensive income | 663,000 | 597,000 | 4,000 | |||||||||||||||||
accumulated deficit | -1,399,825,000 | -1,391,776,000 | -1,388,318,000 | -1,400,850,000 | -1,394,205,000 | -1,384,975,000 | -1,384,150,000 | -1,381,705,000 | -1,362,298,000 | -1,341,630,000 | -1,311,345,000 | -1,269,585,000 | -1,228,354,000 | -1,162,937,000 | -1,082,368,000 | -956,240,000 | -514,869,000 | -442,765,000 | -371,078,000 | -294,153,000 |
total stockholders’ equity | -55,913,000 | -30,473,000 | -12,485,000 | -22,565,000 | -16,886,000 | -56,356,000 | -49,602,000 | -45,471,000 | -35,763,000 | -19,243,000 | 6,292,000 | 41,267,000 | 71,346,000 | 123,172,000 | 175,566,000 | 279,188,000 | 726,974,000 | 774,642,000 | 828,750,000 | 486,453,000 |
total liabilities, redeemable equity and stockholders’ equity | 161,259,000 | 170,045,000 | 189,566,000 | 183,072,000 | 188,266,000 | 178,012,000 | 186,129,000 | 185,410,000 | ||||||||||||
trade and other receivables, net of allowance for credit losses of 112 and 50, respectively | 8,786,000 | 12,201,000 | ||||||||||||||||||
non-current liabilities held for sale from discontinued operations | 154,000 | 160,000 | 858,000 | 903,000 | ||||||||||||||||
redeemable noncontrolling interest - held for sale from discontinued operations | ||||||||||||||||||||
series a redeemable convertible preferred stock, par value 0.00001 per share: 200,000 shares authorized as of december 31, 2025 and 2024, 150 shares issued and outstanding as of december 31, 2025 and 2024, respectively | 159,495,000 | |||||||||||||||||||
class a, class b and class c common stock, par value 0.00001 per share: 3,000,000 (class a 1,800,000, class b 600,000, class c 600,000) shares authorized as of december 31, 2025 and 2024; 256,043 (class a 252,787, class b 3,256, class c 0) and 258,173 (class a 254,426, class b 3,747, class c 0) shares issued and outstanding as of december 31, 2025 and 2024, respectively | 2,000 | |||||||||||||||||||
intangible assets | 69,000 | 73,000 | 77,000 | 2,081,000 | 2,085,000 | 2,099,000 | 2,103,000 | 2,108,000 | 2,114,000 | 2,119,000 | 2,123,000 | 2,127,000 | 2,131,000 | 13,136,000 | 168,935,000 | 173,008,000 | 189,785,000 | 194,175,000 | ||
series a redeemable convertible preferred stock, par value 0.00001 per share: 200,000 shares authorized as of september 30, 2025 and december 31, 2024, 150 shares issued and outstanding as of september 30, 2025 and december 31, 2024, respectively | 154,799,000 | |||||||||||||||||||
class a, class b and class c common stock, par value 0.00001 per share: 3,000,000 (class a 1,800,000, class b 600,000, class c 600,000) shares authorized as of september 30, 2025 and december 31, 2024; 260,100 (class a 256,473, class b 3,627, class c 0) and 258,173 (class a 254,426, class b 3,747, class c 0) shares issued and outstanding as of september 30, 2025 and december 31, 2024, respectively | 2,000 | |||||||||||||||||||
accumulated other comprehensive loss | 555,000 | 514,000 | 565,000 | 602,000 | 765,000 | 304,000 | 346,000 | -402,000 | -689,000 | 95,000 | -708,000 | -2,160,000 | -3,050,000 | -2,625,000 | -808,000 | -88,000 | ||||
trade and other receivables, net of allowance for credit losses of 99 and 50, respectively | 14,962,000 | |||||||||||||||||||
series a redeemable convertible preferred stock, par value 0.00001 per share: 200,000 shares authorized as of june 30, 2025 and december 31, 2024, 150 shares issued and outstanding as of june 30, 2025 and december 31, 2024, respectively | 150,241,000 | |||||||||||||||||||
class a, class b and class c common stock, par value 0.00001 per share: 3,000,000 (class a 1,800,000, class b 600,000, class c 600,000) shares authorized as of june 30, 2025 and december 31, 2024; 260,051 (class a 256,424, class b 3,627, class c 0) and 258,173 (class a 254,426, class b 3,747, class c 0) shares issued and outstanding as of june 30, 2025 and december 31, 2024, respectively | 2,000 | |||||||||||||||||||
trade and other receivables, net of allowance for credit losses of 102 and 50, respectively | 10,692,000 | |||||||||||||||||||
series a redeemable convertible preferred stock, par value 0.00001 per share: 200,000 shares authorized as of march 31, 2025 and december 31, 2024, 150 shares issued and outstanding as of march 31, 2025 and december 31, 2024, respectively | 145,865,000 | |||||||||||||||||||
class a, class b and class c common stock, par value 0.00001 per share: 3,000,000 (class a 1,800,000, class b 600,000, class c 600,000) shares authorized as of march 31, 2025 and december 31, 2024; 258,825 (class a 255,078, class b 3,747, class c 0) and 258,173 (class a 254,426, class b 3,747, class c 0) shares issued and outstanding as of march 31, 2025 and december 31, 2024, respectively | 2,000 | |||||||||||||||||||
trade and other receivables, net of allowance for credit losses of 80 and 149, respectively | 17,365,000 | |||||||||||||||||||
operating lease liabilities, non-current | 801,000 | 955,000 | 5,172,000 | 6,398,000 | 6,982,000 | 8,135,000 | 9,236,000 | 10,236,000 | 11,091,000 | 12,090,000 | 12,654,000 | 13,684,000 | 14,607,000 | 13,589,000 | 14,555,000 | |||||
debt, non-current | 138,854,000 | 138,334,000 | 219,005,000 | 218,240,000 | 217,506,000 | 216,801,000 | 215,955,000 | 215,233,000 | 214,527,000 | 213,843,000 | 213,162,000 | |||||||||
redeemable noncontrolling interest | 52,375,000 | 50,747,000 | 49,169,000 | 47,656,000 | 46,190,000 | 44,754,000 | 43,362,000 | 42,028,000 | 40,749,000 | 39,482,000 | 38,254,000 | 37,077,000 | 35,949,000 | 46,491,000 | 46,266,000 | |||||
series a redeemable convertible preferred stock, par value 0.00001 per share: 200,000 shares authorized as of december 31, 2024 and 2023, 150 and 0 shares issued and outstanding as of december 31, 2024 and 2023, respectively | 141,663,000 | |||||||||||||||||||
class a, class b and class c common stock, par value 0.00001 per share: 3,000,000 (class a 1,800,000, class b 600,000, class c 600,000) shares authorized as of december 31, 2024 and 2023; 258,173 (class a 254,426, class b 3,747, class c 0) and 249,910 (class a 240,262, class b 9,648, class c 0) shares issued and outstanding as of december 31, 2024 and 2023, respectively | 2,000 | |||||||||||||||||||
trade and other receivables, net of allowance for credit losses of 76 and 149, respectively | 15,894,000 | |||||||||||||||||||
restricted cash, non-current | 7,294,000 | 7,294,000 | 7,294,000 | 7,291,000 | 7,294,000 | 12,315,000 | 5,358,000 | 5,358,000 | 5,358,000 | 5,358,000 | 5,358,000 | 5,358,000 | 5,607,000 | 5,357,000 | ||||||
series a redeemable convertible preferred stock, par value 0.00001 per share: 200,000 shares authorized as of september 30, 2024 and december 31, 2023, 150 and 0 shares issued and outstanding as of september 30, 2024 and december 31, 2023, respectively | 137,493,000 | |||||||||||||||||||
class a, class b and class c common stock, par value 0.00001 per share: 3,000,000 (class a 1,800,000, class b 600,000, class c 600,000) shares authorized as of september 30, 2024 and december 31, 2023; 255,881 (class a 252,134, class b 3,747, class c 0) and 249,910 (class a 240,262, class b 9,648, class c 0) shares issued and outstanding as of september 30, 2024 and december 31, 2023, respectively | 2,000 | |||||||||||||||||||
trade and other receivables, net of allowance for credit losses of 91 and 149, respectively | 19,602,000 | |||||||||||||||||||
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 | 133,445,000 | |||||||||||||||||||
class a, class b and class c common stock, par value 0.00001 per share: 3,000,000 (class a 1,800,000, class b 600,000, class c 600,000) shares authorized; 254,207 (class a 248,985, class b 5,222, class c 0) and 249,910 (class a 240,262, class b 9,648, class c 0) shares issued and outstanding as of june 30, 2024 and december 31, 2023, respectively | 2,000 | |||||||||||||||||||
trade and other receivables, net of allowance for credit losses of 128 and 149, respectively | 18,179,000 | |||||||||||||||||||
liabilities, redeemable noncontrolling interest and stockholders’ equity | ||||||||||||||||||||
preferred stock, 0.00001 par value: 200,000 shares authorized and no shares issued and outstanding as of march 31, 2024 and december 31, 2023 | ||||||||||||||||||||
class a, class b and class c common stock, 0.00001 par value: 3,000,000 (class a 1,800,000, class b 600,000, class c 600,000) shares authorized; 252,319 (class a 242,769, class b 9,550, class c 0) and 249,910 (class a 240,262, class b 9,648, class c 0) shares issued and outstanding as of march 31, 2024 and december 31, 2023, respectively | 2,000 | |||||||||||||||||||
total liabilities, redeemable noncontrolling interest and stockholders’ equity | 201,760,000 | 206,065,000 | 318,354,000 | 350,496,000 | 385,442,000 | 432,764,000 | 492,768,000 | 599,324,000 | 1,054,430,000 | 1,112,486,000 | 1,178,226,000 | 1,043,537,000 | ||||||||
trade and other receivables, net of allowance for credit losses of 149 and 436, respectively | 18,345,000 | |||||||||||||||||||
preferred stock, 0.00001 par value: 200,000 shares authorized and no shares issued and outstanding as of december 31, 2023; no shares authorized, issued and outstanding as of december 31, 2022 | ||||||||||||||||||||
class a, class b and class c common stock, 0.00001 par value: 3,000,000 (class a 1,800,000, class b 600,000, class c 600,000) shares authorized as of december 31, 2023; 249,910 (class a 240,262, class b 9,648, class c 0) and 240,931 (class a 230,210, class b 10,721, class c 0) shares issued and outstanding as of december 31, 2023 and december 31, 2022, respectively | 2,000 | |||||||||||||||||||
accumulated other comprehensive gain | 441,000 | |||||||||||||||||||
trade and other receivables, net of allowance for credit losses of 198 and 436, respectively | 19,583,000 | |||||||||||||||||||
preferred stock, 0.00001 par value: 200,000 shares authorized and no shares issued and outstanding as of september 30, 2023 and december 31, 2022 | ||||||||||||||||||||
class a, class b and class c common stock, 0.00001 par value: 3,000,000 (class a 1,800,000, class b 600,000, class c 600,000) shares authorized; 247,946 (class a 238,045, class b 9,901, class c 0) and 240,931 (class a 230,210, class b 10,721, class c 0) shares issued and outstanding as of september 30, 2023 and december 31, 2022, respectively | 2,000 | |||||||||||||||||||
marketable securities | 230,618,000 | 260,662,000 | 286,397,000 | 317,812,000 | 331,714,000 | 334,147,000 | 317,491,000 | 83,959,000 | ||||||||||||
trade and other receivables, net of allowance for credit losses of 171 and 436, respectively | 21,349,000 | |||||||||||||||||||
preferred stock, 0.00001 par value: 200,000 shares authorized and no shares issued and outstanding as of june 30, 2023 and december 31, 2022 | ||||||||||||||||||||
class a, class b and class c common stock, 0.00001 par value: 3,000,000 (class a 1,800,000, class b 600,000, class c 600,000) shares authorized; 245,775 (class a 235,606, class b 10,169, class c 0) and 240,931 (class a 230,210, class b 10,721, class c 0) shares issued and outstanding as of june 30, 2023 and december 31, 2022, respectively | 2,000 | |||||||||||||||||||
trade and other receivables, net of allowance for credit losses of 296 and 436, respectively | 19,894,000 | |||||||||||||||||||
preferred stock, 0.00001 par value: 200,000 shares authorized and no shares issued and outstanding as of march 31, 2023 and december 31, 2022 | ||||||||||||||||||||
class a, class b and class c common stock, 0.00001 par value: 3,000,000 (class a 1,800,000, class b 600,000, class c 600,000) shares authorized; 243,607 (class a 233,056, class b 10,551, class c 0) and 240,931 (class a 230,210, class b 10,721, class c 0) shares issued and outstanding as of march 31, 2023 and december 31, 2022, respectively | 2,000 | |||||||||||||||||||
trade and other receivables, net of allowance for credit losses of 436 and 1,371, respectively | 22,718,000 | |||||||||||||||||||
goodwill | 47,132,000 | 287,228,000 | 287,228,000 | 286,977,000 | 284,798,000 | |||||||||||||||
preferred stock, 0.00001 par value: 200,000 shares authorized and no shares issued and outstanding as of december 31, 2022; no shares authorized, issued and outstanding as of december 31, 2021. | ||||||||||||||||||||
class a, class, b and class c common stock, 0.00001 par value: 3,000,000 (class a 1,800,000, class b 600,000, class c 600,000) shares authorized as of december 31, 2022; 240,931 (class a 230,210, class b 10,721, class c 0) and 230,324 (class a 217,691, class b 12,633, class c 0) shares issued and outstanding as of december 31, 2022 and december 31, 2021, respectively | 2,000 | |||||||||||||||||||
trade and other receivables, net of allowance for credit losses of 670 and 1,371, respectively | 27,538,000 | |||||||||||||||||||
preferred stock, 0.00001 par value: 200,000 shares authorized and no shares issued and outstanding as of september 30, 2022 and december 31, 2021 | ||||||||||||||||||||
class a, class b and class c common stock, 0.00001 par value: 3,000,000 (class a 1,800,000, class b 600,000, class c 600,000) shares authorized; 237,577 (class a 224,944, class b 12,633, class c 0) and 230,324 (class a 217,691, class b 12,633, class c 0) shares issued and outstanding as of september 30, 2022 and december 31, 2021, respectively | 2,000 | |||||||||||||||||||
trade and other receivables, net of allowance for credit losses of 1,376 and 1,371, respectively | 30,846,000 | |||||||||||||||||||
preferred stock, 0.00001 par value: 200,000 shares authorized and no shares issued and outstanding as of june 30, 2022 and december 31, 2021 | ||||||||||||||||||||
class a, class b and class c common stock, 0.00001 par value: 3,000,000 (class a 1,800,000, class b 600,000, class c 600,000) shares authorized; 234,795 (class a 222,162, class b 12,633, class c 0) and 230,324 (class a 217,691, class b 12,633, class c 0) shares issued and outstanding as of june 30, 2022 and december 31, 2021, respectively | 2,000 | |||||||||||||||||||
trade and other receivables, net of allowance for credit losses of 1,669 and 1,371, respectively | 33,621,000 | |||||||||||||||||||
preferred stock, 0.00001 par value: 200,000 shares authorized and no shares issued and outstanding as of march 31, 2022 and december 31, 2021 | ||||||||||||||||||||
class a, class b and class c common stock, 0.00001 par value: 3,000,000 (class a 1,800,000, class b 600,000, class c 600,000) shares authorized; 232,400 (class a 219,767, class b 12,633, class c 0) and 230,324 (class a 217,691, class b 12,633, class c 0) shares issued and outstanding as of march 31, 2022 and december 31, 2021, respectively | 2,000 | |||||||||||||||||||
trade and other receivables, net of allowance for credit losses of 1,371 and 0, respectively | 34,076,000 | |||||||||||||||||||
restricted cash | ||||||||||||||||||||
founders convertible preferred stock and convertible preferred stock, 0.00001 par value: no shares authorized, issued and outstanding as of december 31, 2021; 128,123 | ||||||||||||||||||||
preferred stock, 0.00001 par value: 200,000 shares authorized and no shares issued and outstanding as of december 31, 2021; no shares authorized, issued and outstanding as of december 31, 2020. | ||||||||||||||||||||
class a, class, b and class c common stock, 0.00001 par value: 3,000,000 | 2,000 | 2,000 | ||||||||||||||||||
trade and other receivables | 30,886,000 | 36,659,000 | ||||||||||||||||||
founders convertible preferred stock and convertible preferred stock, 0.00001 par value: no shares authorized, issued and outstanding as of september 30, 2021; 128,123 | ||||||||||||||||||||
preferred stock, 0.00001 par value: 200,000 shares authorized and no shares issued and outstanding as of september 30, 2021; no shares authorized, issued and outstanding as of december 31, 2020. | ||||||||||||||||||||
acquisition consideration payable | 195,577,000 | |||||||||||||||||||
other long-term liabilities | 14,423,000 | |||||||||||||||||||
acquisition consideration expected to be funded from long-term debt proceeds | 225,000,000 | |||||||||||||||||||
founders convertible preferred stock, 0.00001 par value: 1,026,008 shares authorized as of june 30, 2021 and december 31, 2020; 691,666 and 1,026,007 shares issued and outstanding as of june 30, 2021 and december 31, 2020, respectively | ||||||||||||||||||||
convertible preferred stock, 0.00001 par value: 149,566,300 and 127,097,070 shares authorized as of june 30, 2021 and december 31, 2020, respectively; 146,180,902 and 121,352,684 shares issued and outstanding as of june 30, 2021 and december 31, 2020, respectively; aggregate liquidation preference of 710,477 and 387,841 as of june 30, 2021 and december 31, 2020, respectively | 702,940,000 | |||||||||||||||||||
class a common stock | ||||||||||||||||||||
class b common stock | 1,000 |
Cashflow Statements:
Quarterly
Annual
| Unit: USD | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | 2024-12-31 | 2024-09-30 | 2024-06-30 | 2024-03-31 | 2023-12-31 | 2023-09-30 | 2023-06-30 | 2023-03-31 | 2022-12-31 | 2022-09-30 | 2022-06-30 | 2022-03-31 | 2021-12-31 | 2021-09-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
operating activities | |||||||||||||||||||
net loss | -8,049,000 | -3,458,000 | 12,532,000 | -6,645,000 | -9,412,000 | -708,000 | -2,627,000 | -19,421,000 | -20,663,000 | -30,376,000 | -41,820,000 | -41,489,000 | -66,194,000 | -81,443,000 | -132,747,000 | -477,202,000 | -72,418,000 | -71,511,000 | -76,330,000 |
less: net loss from discontinued operations | -2,584,000 | -177,000 | |||||||||||||||||
net loss from continuing operations | -5,465,000 | ||||||||||||||||||
adjustments to reconcile net loss to net cash from operating activities: | |||||||||||||||||||
stock-based compensation | 6,780,000 | 7,579,000 | 7,766,000 | 7,562,000 | 6,048,000 | 6,064,000 | 6,671,000 | 7,271,000 | 8,071,000 | 6,223,000 | 9,042,000 | 14,364,000 | 16,392,000 | 28,191,000 | 27,951,000 | 29,248,000 | 24,312,000 | 16,795,000 | 43,424,000 |
depreciation and amortization | 1,337,000 | 1,200,000 | 1,041,000 | 640,000 | 407,000 | 486,000 | 681,000 | 558,000 | 564,000 | 608,000 | 600,000 | 626,000 | 630,000 | 613,000 | 929,000 | 4,623,000 | 4,601,000 | 3,842,000 | 5,111,000 |
amortization of deferred contract costs | 475,000 | 451,000 | 429,000 | 431,000 | 315,000 | 289,000 | 260,000 | 253,000 | 266,000 | 552,000 | 682,000 | 761,000 | 984,000 | 1,078,000 | 1,133,000 | 1,183,000 | 1,244,000 | 1,174,000 | 1,245,000 |
amortization of operating lease right-of-use assets | 123,000 | 181,000 | 151,000 | 122,000 | 77,000 | 196,000 | 631,000 | 842,000 | 861,000 | 846,000 | 835,000 | 809,000 | 806,000 | 989,000 | 1,025,000 | 851,000 | 785,000 | 956,000 | 1,116,000 |
equity in losses of equity method investees, net of tax | 381,000 | ||||||||||||||||||
other | 412,000 | 43,000 | -39,000 | -178,000 | -138,000 | -324,000 | -359,000 | -92,000 | -234,000 | -530,000 | -1,285,000 | -2,025,000 | -1,347,000 | 169,000 | 501,000 | 410,000 | 1,049,000 | 1,628,000 | 487,000 |
changes in operating assets and liabilities: | |||||||||||||||||||
trade and other receivables | -9,061,000 | 3,415,000 | 2,709,000 | -4,270,000 | 3,906,000 | -1,476,000 | 3,621,000 | -1,409,000 | 182,000 | 1,245,000 | 1,709,000 | -1,580,000 | 2,900,000 | 5,127,000 | 3,423,000 | 3,330,000 | 409,000 | -3,778,000 | -163,000 |
prepaid expenses and other assets, current and non-current | 1,144,000 | -721,000 | -3,447,000 | -1,651,000 | 389,000 | -857,000 | -3,656,000 | 2,486,000 | 967,000 | 3,544,000 | 2,415,000 | 1,058,000 | -4,969,000 | 5,550,000 | -4,173,000 | 5,167,000 | 2,830,000 | 4,257,000 | -11,282,000 |
deferred contract costs, non-current | 43,000 | -289,000 | 263,000 | -178,000 | -353,000 | -805,000 | -43,000 | 177,000 | 256,000 | -220,000 | 234,000 | -993,000 | 217,000 | 265,000 | 701,000 | 669,000 | 852,000 | -875,000 | 636,000 |
accounts payable | -1,599,000 | 1,054,000 | -429,000 | -1,465,000 | 1,046,000 | 554,000 | 868,000 | -1,217,000 | -272,000 | 49,000 | -1,028,000 | 1,217,000 | 672,000 | -1,290,000 | -752,000 | 1,456,000 | -4,314,000 | -625,000 | 512,000 |
deferred revenue | 14,637,000 | -5,940,000 | -7,421,000 | -520,000 | 13,254,000 | -617,000 | -975,000 | -708,000 | 12,556,000 | -1,072,000 | -1,914,000 | -1,076,000 | 4,351,000 | -1,264,000 | -2,087,000 | -2,126,000 | 6,104,000 | -1,960,000 | -1,450,000 |
accrued compensation | -543,000 | -159,000 | 1,650,000 | -1,195,000 | 511,000 | -2,405,000 | 2,783,000 | -1,961,000 | -376,000 | -4,305,000 | 5,126,000 | -6,294,000 | 976,000 | -3,694,000 | 4,177,000 | -3,913,000 | -4,651,000 | 4,638,000 | -422,000 |
operating lease liabilities | -120,000 | -136,000 | -712,000 | -974,000 | -947,000 | -1,393,000 | -1,046,000 | -1,096,000 | -1,050,000 | -1,068,000 | -1,027,000 | -914,000 | -1,003,000 | -1,225,000 | -822,000 | -883,000 | -958,000 | -1,049,000 | -876,000 |
other liabilities, current and non-current | -82,000 | -234,000 | -524,000 | 31,000 | 2,179,000 | -3,590,000 | 1,488,000 | 2,005,000 | -1,099,000 | -846,000 | -246,000 | 387,000 | -1,798,000 | -1,270,000 | -5,464,000 | -2,125,000 | -3,532,000 | -4,522,000 | 6,029,000 |
net cash from operating activities - continuing operations | 8,462,000 | 2,338,000 | -2,733,000 | -5,292,000 | 20,085,000 | ||||||||||||||
net cash from operating activities - discontinued operations | -1,110,000 | -1,358,000 | -757,000 | -1,076,000 | 305,000 | ||||||||||||||
net cash from operating activities | 7,352,000 | 980,000 | -3,490,000 | -6,368,000 | 20,390,000 | -4,586,000 | 2,076,000 | -6,666,000 | -3,868,000 | -20,691,000 | -25,887,000 | -34,390,000 | -46,653,000 | -47,333,000 | -50,485,000 | -46,758,000 | -45,842,000 | -43,124,000 | -31,279,000 |
capital expenditures | 142,000 | -124,000 | 52,000 | -327,000 | 528,000 | -264,000 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -446,000 | -896,000 | -268,000 | -649,000 | -560,000 |
free cash flows | 7,494,000 | 856,000 | -3,438,000 | -6,695,000 | 20,918,000 | -4,850,000 | 2,076,000 | -6,666,000 | -3,868,000 | -20,691,000 | -25,887,000 | -34,390,000 | -46,653,000 | -47,333,000 | -50,931,000 | -47,654,000 | -46,110,000 | -43,773,000 | -31,839,000 |
investing activities | |||||||||||||||||||
purchases of marketable securities | -4,966,000 | -4,995,000 | -6,741,000 | -11,873,000 | -11,876,000 | -5,608,000 | -19,893,000 | -28,217,000 | -48,312,000 | -32,798,000 | -8,324,000 | -8,751,000 | -186,206,000 | -49,325,000 | -46,463,000 | -19,305,000 | -30,450,000 | -34,764,000 | -267,967,000 |
sale of available-for-sale securities | 0 | 19,968,000 | 11,000 | 848,000 | 0 | 30,000 | 0 | 100,297,000 | |||||||||||
maturities of marketable securities | 8,000,000 | 2,500,000 | 16,500,000 | 8,800,000 | 18,927,000 | 11,300,000 | 26,250,000 | 5,000,000 | 10,600,000 | 32,595,000 | 80,146,000 | 40,139,000 | 157,570,000 | 107,164,000 | 78,096,000 | 31,741,000 | 30,035,000 | 16,393,000 | 33,850,000 |
additions to property, equipment and internal-use software development costs | -1,117,000 | -1,001,000 | -2,272,000 | -3,733,000 | -4,587,000 | -2,581,000 | |||||||||||||
net cash from investing activities - continuing operations | 1,917,000 | -1,241,000 | 27,455,000 | -10,795,000 | 3,312,000 | ||||||||||||||
net cash from investing activities - discontinued operations | 970,000 | -13,000 | -62,000 | -36,000 | -84,000 | ||||||||||||||
net cash from investing activities | 2,887,000 | -1,254,000 | 3,228,000 | -1,889,000 | 11,747,000 | -25,084,000 | 60,621,000 | 53,237,000 | 71,791,000 | 31,218,000 | -28,940,000 | 57,387,000 | 31,187,000 | 11,540,000 | -683,000 | -19,172,000 | -654,025,000 | ||
financing activities | |||||||||||||||||||
proceeds from exercises of stock options, including early exercises, net of repurchases | 96,000 | 147,000 | 712,000 | 430,000 | 363,000 | 789,000 | 155,000 | 95,000 | 619,000 | 248,000 | -2,000 | 1,000 | 21,000 | 41,000 | 940,000 | 428,000 | 1,202,000 | ||
taxes paid related to net share settlement of equity awards | -1,127,000 | -1,981,000 | -1,886,000 | -2,531,000 | -2,971,000 | -7,112,000 | -3,984,000 | -3,213,000 | -3,806,000 | -1,314,000 | -1,325,000 | -1,092,000 | -2,440,000 | ||||||
share repurchases | -16,836,000 | -15,727,000 | -5,025,000 | -1,550,000 | -2,568,000 | ||||||||||||||
net cash from financing activities - continuing operations | -17,867,000 | -17,561,000 | -6,199,000 | -3,651,000 | -5,176,000 | ||||||||||||||
effect of exchange rates on cash, cash equivalents, and restricted cash | -5,000 | 0 | 0 | -1,000 | -4,000 | -23,000 | 5,000 | 8,000 | 55,000 | 77,000 | 28,000 | ||||||||
net increase in cash, cash equivalents, and restricted cash | -7,633,000 | -17,835,000 | 17,704,000 | -20,850,000 | 18,442,000 | -12,798,000 | 9,591,000 | -39,071,000 | 53,562,000 | 9,819,000 | -18,303,000 | -34,983,000 | -45,416,000 | -63,230,000 | -93,413,000 | ||||
cash, cash equivalents, and restricted cash at beginning of period | 46,998,000 | 0 | 0 | 0 | 49,537,000 | 0 | 0 | 0 | 38,253,000 | 0 | 0 | 0 | 129,557,000 | 0 | 0 | 0 | 218,440,000 | 0 | 0 |
cash, cash equivalents, and restricted cash at end of period | 39,365,000 | -17,835,000 | 17,704,000 | -20,850,000 | 67,979,000 | -12,798,000 | 9,591,000 | -39,071,000 | 91,815,000 | -53,596,000 | 44,554,000 | -4,258,000 | 51,553,000 | 9,819,000 | -18,303,000 | -34,983,000 | 173,024,000 | -63,230,000 | -93,413,000 |
less: cash, cash equivalents and restricted cash included in current assets held for sale from discontinued operations | -1,369,000 | -818,000 | -1,105,000 | 6,712,000 | |||||||||||||||
cash, cash equivalents and restricted cash, end of period, excluding current assets held for sale from discontinued operations | 39,365,000 | -16,466,000 | 18,522,000 | -19,745,000 | 61,267,000 | ||||||||||||||
reconciliation of cash, cash equivalents, and restricted cash within the condensed consolidated balance sheets: | |||||||||||||||||||
cash and cash equivalents | 37,430,000 | -11,443,000 | 18,522,000 | -19,745,000 | 56,244,000 | -12,798,000 | 9,591,000 | -39,071,000 | 84,521,000 | -53,593,000 | 49,575,000 | -11,215,000 | 46,195,000 | 9,819,000 | -18,303,000 | -34,983,000 | 167,666,000 | -62,981,000 | -93,663,000 |
restricted cash | 1,935,000 | 0 | 0 | 5,023,000 | 0 | 0 | 0 | 7,294,000 | -3,000 | -5,021,000 | 6,957,000 | 5,358,000 | 0 | 0 | 0 | 5,358,000 | -249,000 | 250,000 | |
total cash, cash equivalents, and restricted cash | 39,365,000 | -16,466,000 | 18,522,000 | -19,745,000 | 61,267,000 | -12,798,000 | 9,591,000 | -39,071,000 | 91,815,000 | -53,596,000 | 44,554,000 | -4,258,000 | 51,553,000 | 9,819,000 | -18,303,000 | -34,983,000 | 173,024,000 | -63,230,000 | -93,413,000 |
supplemental disclosure of cash flow information: | |||||||||||||||||||
cash paid for income taxes | -132,000 | 199,000 | 133,000 | 0 | 0 | 67,000 | 9,000 | 0 | -53,000 | 101,000 | 11,000 | 394,000 | 445,000 | ||||||
foreign | |||||||||||||||||||
india | 54,000 | ||||||||||||||||||
supplemental disclosure of non-cash investing and financing activities: | |||||||||||||||||||
reclassification of redeemable noncontrolling interest related to discontinued operations to equity | 0 | 0 | 0 | 52,675,000 | |||||||||||||||
stock-based compensation included in capitalized internal-use software development costs | 119,000 | 225,000 | 592,000 | 1,127,000 | 1,218,000 | 509,000 | 811,000 | 494,000 | 636,000 | ||||||||||
accretion of redeemable noncontrolling interest related to discontinued operations to redemption value | 0 | 0 | 0 | 1,254,000 | |||||||||||||||
accretion of series a redeemable convertible preferred stock to redemption value | 4,731,000 | 4,696,000 | 4,558,000 | 4,376,000 | 4,202,000 | 4,170,000 | 4,048,000 | ||||||||||||
consideration receivable in connection with the sale of title assets | 389,000 | ||||||||||||||||||
capitalized internal-use software development costs included in accrued compensation | 142,000 | -124,000 | 52,000 | -327,000 | 528,000 | -264,000 | |||||||||||||
amortization of debt discount and issuance costs | 0 | 0 | 170,000 | 520,000 | 689,000 | 790,000 | 759,000 | 730,000 | 871,000 | 747,000 | 731,000 | 709,000 | 706,000 | ||||||
accelerated amortization of right-of-use asset in connection with lease abandonment | 0 | ||||||||||||||||||
gain on conversion of note receivable to investment in equity securities | |||||||||||||||||||
gain on investment in equity securities | 0 | 0 | 0 | 0 | -4,417,000 | 0 | |||||||||||||
loss on extinguishment of debt | 0 | 0 | |||||||||||||||||
gain on sale of insurance business | 0 | ||||||||||||||||||
proceeds from sale of insurance business | 0 | ||||||||||||||||||
cash received in connection with conversion of note receivable to investment in equity securities | |||||||||||||||||||
investment in non-marketable equity securities | 0 | 0 | 0 | ||||||||||||||||
investment in note receivable | 0 | ||||||||||||||||||
repayment of long-term debt | 0 | 0 | |||||||||||||||||
net proceeds from the issuance of the series a redeemable convertible preferred stock and the haveli warrant | |||||||||||||||||||
payment for issuance costs related to the series a redeemable convertible preferred stock and the haveli warrant | |||||||||||||||||||
reconciliation of cash, cash equivalents, and restricted cash within the consolidated balance sheets: | |||||||||||||||||||
state and local | |||||||||||||||||||
texas | |||||||||||||||||||
total income taxes paid | |||||||||||||||||||
cash paid for interest | 0 | 0 | 1,621,000 | 4,529,000 | 7,364,000 | 7,189,000 | 6,911,000 | 4,944,000 | |||||||||||
conversion of note receivable to investment in equity securities | |||||||||||||||||||
vesting of early exercised stock options | 0 | 7,000 | 172,000 | 184,000 | 230,000 | 256,000 | 758,000 | 1,913,000 | 1,677,000 | 1,809,000 | |||||||||
operating lease liabilities arising from obtaining new or modified right-of-use assets | -19,000 | -56,000 | 0 | 497,000 | 0 | 654,000 | 0 | 0 | 327,000 | ||||||||||
covered warrant received in connection with strategic partnership and sale of insurance business | |||||||||||||||||||
net income from continuing operations | |||||||||||||||||||
accrual of transaction costs incurred in connection with sale of insurance business | |||||||||||||||||||
less: net income from discontinued operations | -2,998,000 | -2,803,000 | |||||||||||||||||
loss from continuing operations | -3,647,000 | -6,609,000 | |||||||||||||||||
net cash provided (used in) by investing activities | |||||||||||||||||||
issuance costs accrued in connection with the series a redeemable convertible preferred stock and the warrant | |||||||||||||||||||
impairment of intangible assets and goodwill | 0 | 57,857,000 | |||||||||||||||||
release of valuation allowance and change in deferred taxes | 0 | 0 | 0 | -2,864,000 | 7,200,000 | 0 | |||||||||||||
proceeds from initial public offering, net of underwriters' fees and issuance costs | 0 | -2,048,000 | |||||||||||||||||
net cash from financing activities | -6,323,000 | -4,232,000 | -7,320,000 | -3,187,000 | -86,121,000 | -1,327,000 | -1,091,000 | -2,419,000 | 41,000 | 940,000 | 158,000 | 1,081,000 | -925,000 | 591,891,000 | |||||
accretion of redeemable noncontrolling interest to redemption value | 1,511,000 | 1,760,000 | 1,527,000 | 1,461,000 | 1,452,000 | 1,592,000 | 2,056,000 | 1,442,000 | |||||||||||
net proceeds from the issuance of the series a redeemable convertible preferred stock and the warrant | 0 | ||||||||||||||||||
payment for issuance costs related to the series a redeemable convertible preferred stock and the warrant | -403,000 | ||||||||||||||||||
warrant received in connection with strategic partnership and sale of insurance business | |||||||||||||||||||
additions to property, equipment, internal-use software development costs and intangible assets | -1,867,000 | -1,964,000 | |||||||||||||||||
sale of marketable securities | |||||||||||||||||||
additions to property, equipment, internal-use software and intangible assets | -82,000 | -31,000 | -170,000 | -304,000 | |||||||||||||||
acquisition of title365, net of cash acquired | 0 | ||||||||||||||||||
proceeds from debt financing, net of issuance costs | -24,000 | ||||||||||||||||||
partial repayment of long-term debt principal | |||||||||||||||||||
proceeds from issuance of convertible preferred stock, net of issuance costs | 0 | 0 | |||||||||||||||||
proceeds from exercises of convertible preferred stock warrants | 0 | 0 | |||||||||||||||||
proceeds from repayment of employee promissory note collateralized by common stock | 0 | ||||||||||||||||||
effect of exchange rates on cash, cash equivalents and restricted cash | |||||||||||||||||||
payment of initial public offering costs | -270,000 | -121,000 | |||||||||||||||||
net decrease in cash, cash equivalents, and restricted cash | 44,554,000 | -4,258,000 | -78,004,000 | ||||||||||||||||
sales of marketable securities | |||||||||||||||||||
proceeds from exercises of common stock warrants | |||||||||||||||||||
purchases of property and equipment | -446,000 | -896,000 | -268,000 | -649,000 | -560,000 | ||||||||||||||
purchase of other investment | |||||||||||||||||||
cash acquired in connection with business combination | |||||||||||||||||||
payment of debt issuance costs | |||||||||||||||||||
right-of-use assets obtained in exchange for lease obligations | 317,000 | ||||||||||||||||||
interest on discount on convertible note | |||||||||||||||||||
capitalization of internal-use software | |||||||||||||||||||
purchases of intangible assets | |||||||||||||||||||
repurchases of unvested early exercised stock options | -110,000 | -10,000 | |||||||||||||||||
proceeds from exercises of stock options, including early exercises | 1,257,000 | 708,000 | |||||||||||||||||
proceeds from convertible debt | |||||||||||||||||||
proceeds from exercises of series d convertible preferred stock warrants | |||||||||||||||||||
non-cash additions to property and equipment | |||||||||||||||||||
issuance of warrant in connection with debt financing | 0 | ||||||||||||||||||
exercise of series d convertible preferred stock warrants included in prepaid expenses and other current assets | |||||||||||||||||||
deferred offering costs not yet paid | -2,661,000 | ||||||||||||||||||
payment of deferred offering costs | |||||||||||||||||||
repayment of employee promissory note collateralized by common stock | |||||||||||||||||||
acquisition cash consideration not yet paid | |||||||||||||||||||
additions of property and equipment included in accrued expenses |
