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Block
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Latest analysis
Updated Aug 5, 2026
Block raises FY2026 guidance across all metrics after 25% gross profit growth and record 27% AOI margin in Q2, with Cash App and Square both accelerating.
Block delivered record profitability in Q2 2026 — 25% gross profit growth, 27% adjusted operating income margin, and 65% adjusted diluted EPS growth year-over-year — and raised full-year gross profit guidance to $12.51 billion (+21% YoY), AOI to $3.47 billion (28% margin), and EPS growth to 70%. The acceleration is broad-based: Square GPV grew 13% globally with U.S. GPV at its strongest rate since Q2 2023, Cash App gross profit grew 31%, and Neighborhoods crossed $1 billion in annualized seller GPV in June. Square Financial Services (SFS) is expanding into deposit-taking and acquiring sponsorship, representing a structural shift in Block's cost of capital and processing economics that is still early but strategically significant.
Tone: bullishRevenue
$24.2B
XYZ 10-K · FY 2025
Employees
10,205
Revenue FY2024
$24.1B
Founded
2009
Profile
XYZ 10-K Item 1 · Feb 26, 2026Block, Inc. operates two primary ecosystems — Square, a commerce and financial services platform for businesses, and Cash App, a consumer financial services network — alongside bitcoin-focused businesses including Bitkey and Proto. The company provides payments, lending, banking, BNPL, and bitcoin products to sellers and consumers primarily in the United States. Block's strategy centers on connecting these ecosystems through shared infrastructure for payments processing, risk management, identity, and data.
Read filing description ↓ Collapse description ↑
At Block, Inc. (together with its subsidiaries, 'Block' or 'we'), we are building technology that enables people and businesses to participate more fully in the economy. Our purpose is economic empowerment, helping individuals and businesses manage, move, and grow their money through simple and connected tools. Block designs and operates connected ecosystems that integrate commerce solutions, financial services, software, hardware, and networks to serve individuals and small businesses, primarily through Cash App's consumer network and Square's business ('seller') network. Our platform integrates payments, banking, lending, and commerce solutions designed to provide secure, reliable, and scalable financial infrastructure. We apply data, automation, and AI to improve the speed, accuracy, and usability of our products. Our ecosystem strategy connects these capabilities across both sellers and consumers. The ecosystems share common infrastructure for payments processing, risk management, identity, and data, allowing customers to access multiple products across a connected platform. We continue to invest in capabilities that enhance interoperability and efficiency, including embedded financial services, automation, and open protocols such as Bitcoin. Our two reportable segments are Square and Cash App, which reflects our two primary ecosystems and the manner in which the Company's chief operating decision maker reviews and assesses performance. We have realigned our revenue categories to better reflect the evolution of our company, identifying three reportable revenue categories: Commerce Enablement, Financial Solutions, and the Bitcoin Ecosystem. Together, these revenue categories generated $10.4 billion in gross profit in 2025.
Primary products
- Square Payments
- Square Software
- Square Point of Sale
- Square Register
- Square Terminal
- Square Stand
Business segments
End markets
Geographies
“We seek to differentiate ourselves from competitors primarily on the basis of our extensive commerce ecosystem and our focus on building remarkable products and services that are cohesive, fast, self-serve, and elegant.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Total revenue was essentially flat year over year at approximately $24.2 billion in 2025 versus $24.1 billion in 2024, with gross profit growing 17% to $10.4 billion driven by growth in Cash App Borrow and Square Loans.
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