Slide 1: Q2 2026 Block Investor Presentation
Q2 2026 Block Investor Presentation investors.block.xyz
Slide 2: Forward-looking statements; Non-GAAP Financial Measures
Block Investor Presentation 2 Forward-looking statements Non-GAAP Financial Measures This presentation contains forward-looking statements within the meaning of Section To supplement our financial information presented in accordance with 27A of the Securities Act of 1933, as amended, and Section 21E
Slide 3: Block Financial Objectives
Block Investor Presentation 3 Block Financial Objectives 1 2 3 4 Drive consistent Maximize gross profit Rule of 401 Create value for shareholders profitable growth Committed to delivering positive We continue to view Rule of 40 Focusing on enhancing Pursuing balance between gross profit retention ac
Slide 4: Q2 Key Messages
Block Investor Presentation 4 Q2 Key Messages ● Delivered strong 25% gross profit growth year over ● Consumer Lending origination volume grew 59% year and all time high Adjusted Operating Income year over year, driven by strength in Cash App Borrow margin of 27%, as we seek to make intelligence ● Sq
Slide 5: Q2 Gross Profit Growth
Block Investor Presentation 5 Q2 Gross Profit Growth Gross Profit Bitcoin $3,166M Ecosystem We delivered year-over-year gross profit $72M 31% YoY $2,872M $2,909M growth of 25% in the second quarter, with $118M $68M $2,662M strong growth across both Cash App and $2,537M $104M Financial Square $105M
Slide 6: Q2 Profitability
Block Investor Presentation 6 Q2 Profitability Net Income Loss Adjusted EBITDA *attributable to common stockholders 31% YoY Growth $1,169M $1,010M $930M $891M $833M $538M $462M $116M $89M Q2 Q3 Q4 Q1 Q2 $309M 2025 2026 Q2 Q3 Q4 Q1 Q2 35% 31% 32% 35% 37% Q2 Q1 2025 2026 2025 Q3 Q4 2026 Q2 Margin
Slide 7: Q2 Profitability
Block Investor Presentation 7 Q2 Profitability Operating Income Loss Adjusted Operating Income Adjusted Operating Income 57% YoY Growth grew 57% year over year as healthy gross profit growth $864M translated into expanding margins $728M $484M $485M $588M $447M $550M $409M $480M Q2 Q3 Q4 Q1 Q2 $17
Slide 8: Cash App
Cash App
Slide 9: Strategic vision
Block Investor Presentation 9 Strategic vision Cash App Capabilities Cash App is building the financial operating system for the modern earner Network Commerce Banking Bitcoin Connect customers Help customers Support customers Allow customers to their local manage their saving, investing, to conveni
Slide 10: Continued strong growth at scale
Block Investor Presentation 10 Continued strong Cash App Gross Profit $1,973M Bitcoin growth at scale $1,831M $1,908M $52M Ecosystem $63M 51% YoY Gross profit grew 31% year over year driven $84M $1,624M by Cash App Borrow and Commerce $1,501M $96M Enablement, most notably our BNPL Financial $107M p
Slide 11: Driving greater engagement and monetization
Block Investor Presentation 11 Driving greater engagement Cash App Inflows per Transacting Active and monetization $1,494 $1,469 Inflows per transacting active grew 9% year over year in Q2, driven in part by $1,410 more customers bringing their paychecks $1,366 $1,361 into Cash App $1,345 $1,000 Q1
Slide 12: Cash App Primary Banking Actives growth
Block Investor Presentation 12 Cash App Primary Cash App Primary Banking Actives Banking Actives growth 9.3M 9.7M 9.4M Cash App Primary Banking Actives grew 17% year over year in June to 8.3M 8.0M 8.3M 9.4 million MAR JUN SEP DEC MAR JUN 2025 2026 YoY Growth 17% 16% 18% 22% 18% 17% Please see the ap
Slide 13: Cash App Lending
Block Investor Presentation 13 Cash App Lending Cash App Consumer Lending Origination Volume Cash App Consumer Lending origination $18.9B volume grew 59% year over year driven by $18.5B $17.6B strength in Cash App Borrow $13.6B $11.9B Q2 Q3 Q4 Q1 Q2 2025 2026 Volume YoY 40% 51% 69% 82% 59% Please se
Slide 14: Square
Square
Slide 15: Strategic vision
Block Investor Presentation 15 Strategic vision Pillars of Square Strategy Square simplifies commerce, automates business operations, and creates connected networks that empower sellers to scale Commerce Automation Networks with ease Make selling easy Give sellers time back by Connect the neighborho
Slide 16: Continued growth at scale
Block Investor Presentation 16 Continued growth Square Gross Profit Bitcoin at scale $1,160M Ecosystem nm Gross profit growth of 13% year over year, $1,027M $1,018M Financial $993M $982M $300M reflecting strong payments volume growth Solutions 22% YoY and increased software and Financial $246M $255
Slide 17: Growing across diverse geographies
Block Investor Presentation 17 Growing across diverse Square GPV by Geography geographies $72.8B $67.2B In the second quarter, total Square GPV grew $64.2B $65.0B 22% International $61.2B 13% year over year, with U.S. GPV 21% accelerating to 10% and International GPV up 19% 22% 22% 28%, reflecting s
Slide 18: Square Monetization Rate
Block Investor Presentation 18 Square Monetization Rate Square Monetization Rate Commerce Enablement and Financial Commerce Enablement (excluding Hardware) Monetization Rate Financial Solutions Monetization Rate Solutions continue to show stable GPV attach rates 1.27% 1.22% 1.23% 1.20% 1.18% 0.45% 0
Slide 19: Guidance
Block Investor Presentation 19 Guidance We are raising our full-year guidance to reflect the momentum we are seeing across Block. For 2026, we now expect $12.51 billion in gross profit, up 21% year over year, and Q3'26 2026 Adjusted Operating Income of $3.47 billion, or 28% margin, growing 67% year
Slide 20: Slide 20
Slide 21: Appendix
Appendix
Slide 22: Appendix
Block Investor Presentation 22 Appendix SLIDE 3 SLIDE 4 & 12 Gross profit retention is calculated as year-over-year gross profit growth Primary Banking Active PBA is a Cash App account that receives inflows of all existing quarterly Cash App cohorts, averaged over the last four from ACH or certain
Slide 23: Appendix
Block Investor Presentation 23 Appendix SLIDE 4 & 17 SLIDE 11 Square Gross Payment Volume GPV is defined as the total dollar amount Inflows per transacting active refers to total inflows in the quarter divided by of all card and bank payments processed by sellers using Square, net of monthly activ
Slide 24: Reconciliations (unaudited)
Block Investor Presentation 24 Reconciliations (unaudited) Adjusted Operating Income (in thousands, except for percentages) THREE MONTHS ENDED Jun 30, 2026 Jun 30, 2025 Sep 30, 2025 Dec 31, 2025 Mar 31, 2026 Operating income (loss) $446,870 $484,293 $409,440 $485,371 $171,990 Amortization of acqui
Slide 25: Reconciliations (unaudited)
Block Investor Presentation 25 Reconciliations (unaudited) Adjusted EBITDA (in thousands, except for percentages) THREE MONTHS ENDED Jun 30, 2026 Jun 30, 2025 Sep 30, 2025 Dec 31, 2025 Mar 31, 2026 Net income (loss) attributable to common stockholders $88,517 $538,458 $461,544 $115,762 $308,681 Ad
Slide 26: Reconciliations (unaudited)
Block Investor Presentation 26 Reconciliations (unaudited) Block, Inc. Consolidated Gross Profit (in millions) THREE MONTHS ENDED Jun 30, 2026 Jun 30, 2025 Sep 30, 2025 Dec 31, 2025 Mar 31, 2026 Revenue: Commerce enablement revenue $3,342 $2,898 $2,999 $3,050 $2,938 Financial solutions revenue 1,382
Slide 27: Reconciliations (unaudited)
Block Investor Presentation 27 Reconciliations (unaudited) Block, Inc. Consolidated Gross Profit (in millions) THREE MONTHS ENDED Jun 30, 2025 Jun 30, 2024 Sep 30, 2024 Dec 31, 2024 Mar 31, 2025 Revenue: Commerce enablement revenue $2,898 $2,665 $2,682 $2,745 $2,567 Financial solutions revenue 985 8
Slide 28: Reconciliations (unaudited)
Block Investor Presentation 28 Reconciliations (unaudited) Cash App Gross Profit (in millions) THREE MONTHS ENDED Jun 30, 2026 Jun 30, 2025 Sep 30, 2025 Dec 31, 2025 Mar 31, 2026 Revenue: Commerce enablement revenue $1,131 $940 $976 $1,096 $1,086 Financial solutions revenue 1,077 733 834 949 1,040 B
Slide 29: Reconciliations (unaudited)
Block Investor Presentation 29 Reconciliations (unaudited) Cash App Gross Profit (in millions) THREE MONTHS ENDED Jun 30, 2025 Jun 30, 2024 Sep 30, 2024 Dec 31, 2024 Mar 31, 2025 Revenue: Commerce enablement revenue $940 $853 $848 $949 $900 Financial solutions revenue 733 617 620 607 649 Bitcoin eco
Slide 30: Reconciliations (unaudited)
Block Investor Presentation 30 Reconciliations (unaudited) Square Gross Profit (in millions) THREE MONTHS ENDED Jun 30, 2026 Jun 30, 2025 Sep 30, 2025 Dec 31, 2025 Mar 31, 2026 Revenue: Commerce enablement revenue $2,161 $1,915 $1,979 $1,905 $1,803 Financial solutions revenue 305 251 261 273 282 Bit
Slide 31: Reconciliations (unaudited)
Block Investor Presentation 31 Reconciliations (unaudited) Square Gross Profit (in millions) THREE MONTHS ENDED Jun 30, 2025 Jun 30, 2024 Sep 30, 2024 Dec 31, 2024 Mar 31, 2025 Revenue: Commerce enablement revenue $1,915 $1,764 $1,790 $1,751 $1,627 Financial solutions revenue 251 215 212 220 226 Bit
Slide 32: Reconciliations (unaudited)
Block Investor Presentation 32 Reconciliations (unaudited) Square Operating Metrics (in millions) THREE MONTHS ENDED Jun 30, 2026 Jun 30, 2025 Sep 30, 2025 Dec 31, 2025 Mar 31, 2026 Square commerce enablement gross profit $860 $781 $762 $726 $706 Less: Hardware contribution to Square commerce enable