Block said gross profit for Q1 2025 was $2.3 billion, up 9% year over year. Cash App generated $1.4 billion, up 10%, and Square generated $897.9 million, up 9%.

10-QQuarterly reportFiled May 1, 2025Period of report Mar 31, 2025Summary published (UTC) Oct 11, 2026

Key points

AI summary

Block said gross profit for Q1 2025 was $2.3 billion, up 9% year over year. Cash App generated $1.4 billion, up 10%, and Square generated $897.9 million, up 9%.
The company said operating income for Q1 2025 was $329.3 million and Adjusted Operating Income was $466.3 million, with net income attributable to common stockholders of $189.9 million compared to $472.0 million in the prior-year period. Net income included a remeasurement loss on the bitcoin investment of $93.4 million, compared to a gain of $233.4 million in the same period of the prior year.
Block said total net revenue for Q1 2025 decreased by $185.3 million compared to the prior-year period, with bitcoin revenue declining by $429.7 million. Excluding bitcoin revenue, total net revenue increased by $244.4 million, or 8%.
The company said available liquidity as of March 31, 2025 was $9.2 billion, a decrease of $1.5 billion from December 31, 2024. It cited as factors a $1.0 billion cash payment for settlement of the outstanding 2025 Convertible Notes that matured and $445.3 million of share repurchases in Q1.

Key figures

Quarter ended March 31, 2025

Revenue: $5.8B
Operating income: $329M
Net income: $190M
EPS: $0.30
Gross profit: $2.3B
Operating cash flow: $133M

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

Gross profit for Q1 2025 was $2.3 billion, up 9% year over year

Block said gross profit for Q1 2025 was $2.3 billion, up 9% year over year. Cash App generated $1.4 billion, up 10%, and Square generated $897.9 million, up 9%.

Source · Based on the MD&A text of the filing

Operating income, net income and bitcoin remeasurement loss

The company said operating income for Q1 2025 was $329.3 million and Adjusted Operating Income was $466.3 million, with net income attributable to common stockholders of $189.9 million compared to $472.0 million in the prior-year period. Net income included a remeasurement loss on the bitcoin investment of $93.4 million, compared to a gain of $233.4 million in the same period of the prior year.

Source · Based on the MD&A text of the filing

Bitcoin revenue decline and non-bitcoin revenue growth

Block said total net revenue for Q1 2025 decreased by $185.3 million compared to the prior-year period, with bitcoin revenue declining by $429.7 million. Excluding bitcoin revenue, total net revenue increased by $244.4 million, or 8%.

Source · Based on the MD&A text of the filing

Available liquidity and major cash uses as of March 31, 2025

The company said available liquidity as of March 31, 2025 was $9.2 billion, a decrease of $1.5 billion from December 31, 2024. It cited as factors a $1.0 billion cash payment for settlement of the outstanding 2025 Convertible Notes that matured and $445.3 million of share repurchases in Q1.

Source · Based on the MD&A text of the filing

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.

View the original filing on SEC EDGAR ↗

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