XML 41 R24.htm IDEA: XBRL DOCUMENT v3.22.1
Segment Information
 12 Months Ended
Dec. 31, 2021
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 Company’s CODM evaluates the results and allocates the Company’s resources.

Segment 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:

Year Ended December 31,
202120202019
(in thousands)
Segment revenue:
Blend Platform$135,562 $96,029 $50,671 
Title36598,933 — — 
Total revenue$234,495 $96,029 $50,671 
Segment gross profit:
Blend Platform$85,645 $61,740 $31,124 
Title36530,344 — — 
Total gross profit$115,989 $61,740 $31,124 
Operating expenses:
Research and development92,216 55,503 48,597 
Sales and marketing84,077 51,420 37,660 
General and administrative128,802 30,108 26,589 
Amortization of acquired intangible assets8,136 — — 
Total operating expenses313,231 137,031 112,846 
Loss from operations(197,242)(75,291)(81,722)
Interest expense(11,279)— — 
Other income (expense), net493 700 283 
Loss before income taxes$(208,028)$(74,591)$(81,439)

The Company’s long-lived assets, which consist of property and equipment, net and operating lease right-of-use assets, by geographic location are as follows:

As of December 31,
20212020
(in thousands)
Long-lived assets:
United States$19,184 $17,279 
India1,684 — 
Total$20,868 $17,279