Block Announces Third Quarter 2024 Results

• Strong Q3 results as we delivered gross profit growth of 19% year over year, and year-over-year improvement across all profitability measures in Q3
• Improving Square GPV trends into Q4 with an improvement in U.S. GPV growth year-over-year in October. We expect U.S. and Global GPV growth to improve modestly in the fourth quarter compared to the third quarter, and accelerate from these levels in 2025
• Key product launches including Orders Platform in Q3, enabling Pre-Auth and Bar Tabs for Square sellers
• Accelerated partnership strategy for Square, signing several new partners across markets
• Growing engagement on Cash App with gross profit per active of $75 in Q3 on an annualized basis, up 16% year-over-year
• Momentum on Cash App’s Bank our Base strategy with inflows per active up 9% year over year, and quarter-over-quarter growth in paycheck deposit actives
• Increased 2024 guidance on Adjusted EBITDA and Adjusted Operating Income and remain committed to achieving Rule of 40 in 2026

DISTRIBUTED-WORK-MODEL/OAKLAND, Calif.--(BUSINESS WIRE)-- Block, Inc. (NYSE: SQ) has posted its results for the third quarter of 2024 on the Financials section of its Investor Relations website at investors.block.xyz and filed these results with the Securities and Exchange Commission.

Block will host a conference call and earnings webcast at 2:00 p.m. Pacific Time/5:00 p.m. Eastern Time today to discuss these financial results. To register to participate in the conference call, please visit the Events & Presentations section of Block’s Investor Relations website at investors.block.xyz.

About Block

Block, Inc. (NYSE: SQ) (formerly, Square, Inc.) is a global technology company with a focus on financial services. Made up of Square, Cash App, TIDAL, and TBD, we build tools to help more people access the economy. Square makes commerce and financial services easy and accessible for sellers with its integrated ecosystem of technology solutions. With Cash App, anyone can easily send, spend, or invest their money in stocks or bitcoin. Afterpay brings Square and Cash App together, connecting consumers and businesses. Artists use TIDAL to help them succeed as entrepreneurs and connect more deeply with fans. TBD is building an open source platform and developer infrastructure that enables everyone to access and participate in the global economy.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241107404019/en/

Media Contact

press@block.xyz

Investor Relations Contact

ir@block.xyz

Source: Block, Inc.