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SEGMENT AND GEOGRAPHICAL INFORMATION
 3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
SEGMENT AND GEOGRAPHIC INFORMATION SEGMENT AND GEOGRAPHICAL INFORMATION
The Company reports its segments to reflect the manner in which the Company's CODM reviews and assesses performance. Accordingly, the Company has two reportable segments, Square and Cash App. In the fourth quarter of 2023, the Company reorganized its business structure and moved the business activities, management, and the financial results of the Company's BNPL platform fully into Cash App. Accordingly, the segment results below include the financial results of the BNPL platform solely within the Cash App segment. Products and services that are not assigned to a specific reportable segment, including but not limited to TIDAL and other emerging ecosystems, are aggregated and presented within a general Corporate and Other category. Square and Cash App are defined as follows:

•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 App Card which is linked to customer stored balances that customers can use to pay for purchases or withdraw funds from an ATM. Cash App also includes the BNPL platform.

•Square includes managed payment services, software solutions, hardware, and financial services offered to sellers, excluding those that involve Cash App.
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. The following tables present information on the reportable segments revenue and segment gross profit (in thousands):
Three Months Ended
March 31, 2024
Cash AppSquare
Corporate and Other (i)
Total
Revenue:
Transaction-based revenue$109,220 $1,401,989 $— $1,511,209 
Subscription and services-based revenue1,332,560 296,218 53,516 1,682,294 
Hardware revenue— 31,830 671 32,501 
Bitcoin revenue2,731,124 — — 2,731,124 
Segment revenue$4,172,904 $1,730,037 $54,187 $5,957,128 
Segment gross profit (ii)
$1,258,527 $820,272 $15,674 $2,094,473 

Three Months Ended
March 31, 2023
Cash AppSquare
Corporate and Other (i)
Total
Revenue:
Transaction-based revenue$134,663 $1,288,042 $— $1,422,705 
Subscription and services-based revenue1,085,748 229,884 50,592 1,366,224 
Hardware revenue— 37,451 — 37,451 
Bitcoin revenue2,163,751 — — 2,163,751 
Segment revenue$3,384,162 $1,555,377 $50,592 $4,990,131 
Segment gross profit (ii)
$1,009,953 $691,562 $13,069 $1,714,584 

(i) Corporate and Other represents results related to products and services that are not assigned to a specific reportable segment, and intersegment eliminations.

(ii) Segment gross profit for Cash App for the three months ended March 31, 2024 and March 31, 2023 included $13.7 million and $14.4 million of amortization of acquired technology assets expense, respectively. Segment gross profit for Square for the three months ended March 31, 2024 and March 31, 2023 included $2.5 million and $2.7 million of amortization of acquired technology assets expense, respectively. Amortization of acquired technology assets expense included in Corporate and Other was immaterial for the three months ended March 31, 2024 and March 31, 2023.
The following table provides a reconciliation of total segment gross profit to the Company’s income (loss) before applicable income taxes (in thousands):
Three Months Ended
March 31,
20242023
Total segment gross profit$2,094,473 $1,714,584 
Less: Product development720,574 626,937 
Less: Sales and marketing443,885 496,011 
Less: General and administrative471,260 432,825 
Less: Transaction, loan, and consumer receivable losses165,729 127,896 
Less: Amortization of customer and other intangible assets43,282 37,087 
Less: Interest income, net
(18,745)(3,161)
Less: Other income, net(237,824)(77,717)
Income before applicable income taxes$506,312 $74,706 

Revenue

Revenue by geography is based on the addresses of the sellers or customers. The following table details revenue by geographic area (in thousands):
Three Months Ended
March 31,
20242023
United States$5,566,297 $4,664,635 
International390,831 325,496 
Total$5,957,128 $4,990,131 

No individual country from the international markets contributed more than 10% of total revenue for the three months ended March 31, 2024 and March 31, 2023.

Long-Lived Assets

The following table details long-lived assets by geography (in thousands):
  March 31, 2024December 31, 2023
United States$7,512,224 $7,570,973 
Australia4,546,350 4,761,535 
Other international1,869,946 1,889,490 
Total$13,928,520 $14,221,998 

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.