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Net Loss Per Share | 12 Months Ended
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Dec. 31, 2021
Earnings Per Share [Abstract] |
Net Loss Per Share | Net Loss Per ShareThe Company computes net loss per share using the two-class method required for multiple classes of common stock. The Company has three classes of authorized common stock for which voting rights differ by class. 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. For the calculation of diluted net loss per share, net loss per share attributable to the Company for basic net loss per share is adjusted by the effect of dilutive securities, including awards issued under the Company’s equity compensation plans. Diluted net loss per share attributable to the Company is computed by dividing the resulting net loss attributable to the Company by the weighted average number of fully diluted common shares outstanding. In connection with the IPO, upon the effectiveness of the filing of the Amended and Restated Certificate of Incorporation, all shares of the Company’s pre-IPO Class A common stock were reclassified as Class B common stock and all shares of the Company’s pre-IPO Class B common stock were reclassified as Class A common stock. All weighted average common stock outstanding and net loss per share amounts presented within these consolidated financial statements have been adjusted to reflect this reclassification on a retroactive basis for all periods presented. 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.
| Year Ended December 31,
| 2021 |  | 2020 |  | 2019
| Class A Common |  | Class B Common |  | Class A Common |  | Class B Common |  | Class A Common |  | Class B Common
| (In thousands, except per share data)
Numerator: |  |  |  |  |  |  |  |  |  |  |
Net loss attributable to Blend Labs, Inc. | $ | (151,901) |  |  | $ | (18,012) |  |  | $ | (50,131) |  |  | $ | (24,486) |  |  | $ | (48,750) |  |  | $ | (32,702) |
Less: accretion of RNCI to redemption value | (1,323) |  |  | (107) |  |  | — |  |  | — |  |  | — |  |  | — |
Net loss attributable to Blend Labs, Inc. common stockholders | $ | (153,224) |  |  | $ | (18,119) |  |  | $ | (50,131) |  |  | $ | (24,486) |  |  | $ | (48,750) |  |  | $ | (32,702) |
Denominator: |  |  |  |  |  |  |  |  |  |  |
Weighted average common stock outstanding, basic and diluted | 117,994 |  |  | 13,991 |  |  | 26,475 |  |  | 12,932 |  |  | 19,617 |  |  | 13,159 |
Net loss per share attributable to Blend Labs, Inc.: |  |  |  |  |  |  |  |  |  |  |
Basic and diluted | $ | (1.30) |  |  | $ | (1.30) |  |  | $ | (1.89) |  |  | $ | (1.89) |  |  | $ | (2.49) |  |  | $ | (2.49) |
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 December 31, |  |
| 2021 |  | 2020 |  | 2019 |  |
| (In thousands)
Outstanding stock options | 31,675 |  |  | 33,750 |  |  | 35,209 |  |  |
Early exercised options subject to repurchase | 1,820 |  |  | 162 |  |  | 223 |  |  |
Options exercised via promissory note | — |  |  | 4,000 |  |  | 4,000 |  |  |
Non-plan Co-Founder and Head of Blend options | 26,057 |  |  | — |  |  | — |  |  |
Unvested restricted stock units | 2,589 |  |  | — |  |  | — |  |  |
Common stock warrants | 598 |  |  | — |  |  | 2,807 |  |  |
Convertible Preferred Stock warrants | — |  |  | 5,461 |  |  | 6,008 |  |  |
Founders Convertible Preferred Stock | — |  |  | 1,026 |  |  | 1,026 |  |  |
Convertible Preferred Stock | — |  |  | 121,353 |  |  | 110,898 |  |  |
Total antidilutive securities | 62,739 |  |  | 165,752 |  |  | 160,171 |  |  |

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