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SEGMENT AND GEOGRAPHICAL INFORMATION
9 Months Ended
Sep. 30, 2025
Segment Reporting [Abstract]  
SEGMENT AND GEOGRAPHICAL INFORMATION SEGMENT AND GEOGRAPHICAL INFORMATION
The Company reports its segments to reflect the manner in which the Company's chief operating decision maker ("CODM") reviews and assesses performance. The Company's CODM is the Block Head and Chairperson. The Company has two reportable segments, Square and Cash App. 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, as well as Cash App Borrow, which is a credit product that allows eligible customers to access short-term loans for a small fee. 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 uses segment gross profit for each segment during the annual budgeting and forecasting process. Further, the CODM uses gross profit as the metric to guide the business trajectory and to consider the overall gross profit growth by segment on a quarterly basis, when making decisions about the allocation of operating and capital resources to each segment. 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, as well as amounts for the "Corporate and Other" category, which includes products and services not assigned to reportable segments and intersegment eliminations (in thousands):
Three Months Ended
September 30, 2025
Nine Months Ended
September 30, 2025
Cash AppSquareCorporate and Other TotalCash AppSquareCorporate and Other Total
Revenue:
Transaction-based revenue$56,113 $1,817,364 $— $1,873,477 $182,866 $5,058,740 $— $5,241,606 
Subscription and services-based revenue1,777,646 382,177 45,066 2,204,889 4,929,403 1,090,617 128,446 6,148,466 
Hardware revenue— 40,653 29,539 70,192 — 109,271 30,034 139,305 
Bitcoin revenue1,965,742 652 — 1,966,394 6,411,176 652 — 6,411,828 
Segment revenue$3,799,501 $2,240,846 $74,605 $6,114,952 $11,523,445 $6,259,280 $158,480 $17,941,205 
Less: Cost of revenue2,175,548 1,223,186 54,648 3,453,382 7,019,041 3,316,911 117,550 10,453,502 
Segment gross profit$1,623,953 $1,017,660 $19,957 $2,661,570 $4,504,404 $2,942,369 $40,930 $7,487,703 
Interest revenue$48,814 $11,025 $— $59,839 $148,178 $29,510 $— $177,688 
Amortization of acquired technology assets$12,896 $961 $— $13,857 $38,959 $3,976 $— $42,935 

Three Months Ended
September 30, 2024
Nine Months Ended
September 30, 2024
Cash AppSquareCorporate and Other TotalCash AppSquareCorporate and Other Total
Revenue:
Transaction-based revenue$69,995 $1,642,426 $— $1,712,421 $278,126 $4,658,471 $— $4,936,597 
Subscription and services-based revenue1,430,970 322,582 44,381 1,797,933 4,181,703 941,417 145,000 5,268,120 
Hardware revenue— 36,729 110 36,839 — 111,377 923 112,300 
Bitcoin revenue2,428,608 — — 2,428,608 7,771,475 — — 7,771,475 
Segment revenue$3,929,573 $2,001,737 $44,491 $5,975,801 $12,231,304 $5,711,265 $145,923 $18,088,492 
Less: Cost of revenue2,623,630 1,069,381 33,105 3,726,116 8,367,890 3,036,053 106,911 11,510,854 
Segment gross profit $1,305,943 $932,356 $11,386 $2,249,685 $3,863,414 $2,675,212 $39,012 $6,577,638 
Interest revenue$51,418 $10,218 $— $61,636 $137,189 $27,933 $— $165,122 
Amortization of acquired technology assets$13,928 $1,493 $1,765 $17,186 $41,288 $6,219 $5,295 $52,802 
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
September 30,
Nine Months Ended
September 30,
2025202420252024
Total segment gross profit$2,661,570 $2,249,685 $7,487,703 $6,577,638 
Less: Product development711,235 710,983 2,197,222 2,144,720 
Less: Sales and marketing599,333 511,755 1,653,524 1,463,202 
Less: General and administrative543,974 475,855 1,485,008 1,420,683 
Less: Transaction, loan, and consumer receivable losses363,455 192,062 827,234 549,603 
Less: Amortization of customer and other intangible assets34,133 36,021 101,680 120,116 
Less: Interest expense (income), net34,652 13,811 75,582 (6,805)
Less: Remeasurement gain on bitcoin investment(59,588)(5,288)(178,402)(168,576)
Less: Other income, net(167,150)(9,661)(162,103)(24,665)
Income before applicable income taxes$601,526 $324,147 $1,487,958 $1,079,360 

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
September 30,
Nine Months Ended
September 30,
2025202420252024
United States$5,584,897 $5,519,879 $16,494,950 $16,818,047 
International530,055 455,922 1,446,255 1,270,445 
Total$6,114,952 $5,975,801 $17,941,205 $18,088,492 

No individual country from the international markets contributed more than 10% of total revenue for the three and nine months ended September 30, 2025 and September 30, 2024.

Long-Lived Assets

The following table details long-lived assets by geography (in thousands):
  September 30, 2025December 31, 2024
United States$7,346,692 $7,435,117 
Australia4,415,081 4,159,229 
Other international1,929,342 1,790,529 
Total$13,691,115 $13,384,875 

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.