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SEGMENT AND GEOGRAPHICAL INFORMATION | 9 Months Ended
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Sep. 30, 2021
Segment Reporting [Abstract] |
SEGMENT AND GEOGRAPHIC INFORMATION | SEGMENT AND GEOGRAPHICAL INFORMATION The Company reports its operating segments to reflect the manner in which the Company's CODM reviews and assesses performance. Accordingly, the Company has two reportable segments, which are Seller and Cash App. Seller and Cash App are defined as follows: •Seller includes managed payment services, software solutions, hardware, and financial services offered to sellers, excluding those that involve Cash App. •Cash App includes the financial tools available to individuals within the mobile Cash App, including peer-to-peer payments, bitcoin and stock investments. Cash App also includes Cash Card which is linked to customer stored balances that customers can use to pay for purchases or withdraw funds from an ATM. The primary financial measures used by the CODM to evaluate performance and allocate resources are revenue and gross profit. The CODM does not evaluate performance or allocate resources based on segment asset data, and therefore such information is not included. Information on the reportable segments revenue and segment gross profit are as follows (in thousands):
| Three Months Ended September 30, 2021 |  | Nine Months Ended September 30, 2021
| Cash App |  | Seller |  | Corporate and Other (i) |  | Total |  | Cash App |  | Seller |  | Corporate and Other (i) |  | Total
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Transaction-based revenue | $ | 103,192 |  |  | $ | 1,193,848 |  |  | $ | — |  |  | $ | 1,297,040 |  |  | $ | 306,101 |  |  | $ | 3,178,144 |  |  | $ | — |  |  | $ | 3,484,245 |
Subscription and services-based revenue | 474,779 |  |  | 162,341 |  |  | 57,650 |  |  | 694,770 |  |  | 1,406,313 |  |  | 434,673 |  |  | 96,643 |  |  | 1,937,629 |
Hardware revenue | — |  |  | 37,255 |  |  | — |  |  | 37,255 |  |  | — |  |  | 109,769 |  |  | — |  |  | 109,769 |
Bitcoin revenue | 1,815,662 |  |  | — |  |  | — |  |  | 1,815,662 |  |  | 8,051,026 |  |  | — |  |  | — |  |  | 8,051,026 |
Segment revenue | $ | 2,393,633 |  |  | $ | 1,393,444 |  |  | $ | 57,650 |  |  | $ | 3,844,727 |  |  | $ | 9,763,440 |  |  | $ | 3,722,586 |  |  | $ | 96,643 |  |  | $ | 13,582,669 |
Segment gross profit | $ | 511,717 |  |  | $ | 606,225 |  |  | $ | 15,273 |  |  | $ | 1,133,215 |  |  | $ | 1,553,255 |  |  | $ | 1,659,378 |  |  | $ | 25,147 |  |  | $ | 3,237,780 |
| Three Months Ended September 30, 2020 |  | Nine Months Ended September 30, 2020
| Cash App |  | Seller |  | Corporate and Other (i) |  | Total |  | Cash App |  | Seller |  | Corporate and Other (i) |  | Total
Revenue |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Transaction-based revenue | $ | 80,721 |  |  | $ | 844,573 |  |  | $ | — |  |  | $ | 925,294 |  |  | $ | 162,197 |  |  | $ | 2,203,770 |  |  | $ | — |  |  | $ | 2,365,967 |
Subscription and services-based revenue | 354,110 |  |  | 93,412 |  |  | — |  |  | 447,522 |  |  | 818,991 |  |  | 271,041 |  |  | — |  |  | 1,090,032 |
Hardware revenue | — |  |  | 27,294 |  |  | — |  |  | 27,294 |  |  | — |  |  | 67,291 |  |  | — |  |  | 67,291 |
Bitcoin revenue | 1,633,764 |  |  | — |  |  | — |  |  | 1,633,764 |  |  | 2,815,318 |  |  | — |  |  | — |  |  | 2,815,318 |
Segment revenue | $ | 2,068,595 |  |  | $ | 965,279 |  |  | $ | — |  |  | $ | 3,033,874 |  |  | $ | 3,796,506 |  |  | $ | 2,542,102 |  |  | $ | — |  |  | $ | 6,338,608 |
Segment gross profit | $ | 385,124 |  |  | $ | 409,331 |  |  | $ | — |  |  | $ | 794,455 |  |  | $ | 848,919 |  |  | $ | 1,080,800 |  |  | $ | — |  |  | $ | 1,929,719 |
(i) Corporate and other represents results related to products and services that are not assigned to a specific reportable segment. Comparable prior period amounts have not been disclosed as they were not material. A reconciliation of total segment gross profit to the Company’s income (loss) before applicable income taxes is as follows (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Total segment gross profit | $ | 1,133,215 |  |  | $ | 794,455 |  |  | $ | 3,237,780 |  |  | $ | 1,929,719 |
Less: Product development | 366,587 |  |  | 227,550 |  |  | 1,003,238 |  |  | 631,156 |
Less: Sales and marketing | 407,850 |  |  | 348,463 |  |  | 1,132,411 |  |  | 781,094 |
Less: General and administrative | 267,476 |  |  | 153,902 |  |  | 684,405 |  |  | 419,783 |
Less: Transaction and loan losses | 62,306 |  |  | 15,198 |  |  | 130,874 |  |  | 161,684 |
Less: Bitcoin impairment losses | 6,000 |  |  | — |  |  | 71,126 |  |  | — |
Less: Interest expense, net | 13,409 |  |  | 14,980 |  |  | 20,126 |  |  | 38,955 |
Less: Other expense (income), net | 12,011 |  |  | (784) |  |  | (36,249) |  |  | (20,513) |
Income (loss) before applicable income taxes | $ | (2,424) |  |  | $ | 35,146 |  |  | $ | 231,849 |  |  | $ | (82,440) |
Revenue Revenue by geography is based on the addresses of the sellers or customers. The following table sets forth revenue by geographic area (in thousands):
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2021 |  | 2020 |  | 2021 |  | 2020
Revenue |  |  |  |  |  |  |
United States | $ | 3,679,609 |  |  | $ | 2,947,400 |  |  | $ | 13,179,547 |  |  | $ | 6,126,971 |
International | 165,118 |  |  | 86,474 |  |  | 403,122 |  |  | 211,637 |
Total net revenue | $ | 3,844,727 |  |  | $ | 3,033,874 |  |  | $ | 13,582,669 |  |  | $ | 6,338,608 |
No individual country from the international markets contributed in excess of 10% of total revenue for the three and nine months ended September 30, 2021 and 2020. Long-Lived Assets The following table sets forth long-lived assets by geographic area (in thousands):
| September 30, 2021 |  | December 31, 2020
Long-lived assets |  |  |
United States | $ | 1,420,358 |  |  | $ | 1,086,379 |
International | 91,416 |  |  | 58,342 |
Total long-lived assets | $ | 1,511,774 |  |  | $ | 1,144,721 |
Assets by reportable segment were not included, as this information is not reviewed by the CODM to make operating decisions or allocate resources and is reviewed on a consolidated basis.

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
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