Block, Inc. · NYSE:XYZ

Block — Investor Day (2025)

41 slides from Block's investor day presentation, 2025

  1. Slide 1: Go-to-Market Strategy

    INVESTOR DAY 2025 Go-to-Market Strategy Nick Molnar

  2. Slide 2: Block has unique customer acquisition motions

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Block has unique customer acquisition motions New Cash App Actives Square New Volume Added NVA 67% 71% Organic Self Onboarding vs. Other Channels vs. Closed Sales Represents last 12 months as of September 2025. See appendix for definition of new Cash A

  3. Slide 3: Those motions are grounded in customer and seller needs

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Those motions are grounded in customer and seller needs ● Design-led product development and focus on simple, intuitive sign-up flows. #1 mobile finance app in the US and among the top 5 authentic brands to Gen Z ● Focus on customer empathy, cultural rel

  4. Slide 4: Contents

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Contents 01 Accelerating Cash App 02 Transforming Squareʼs go-to-market opportunity 03 View on our sustainable competitive advantages

  5. Slide 5: Cash GTM strategy

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Cash GTM strategy Driving product attach by leveraging → owned and operated channels → Scaling customer acquisition efficiently → Building brand through cultural partnerships

  6. Slide 6: Cash App isn't a feature — it's a network

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Cash App isnʼt a feature — itʼs a network 58M Monthly Transacting Actives 26M 8.7M 8.7M 7.3M 7.4M 9.0M Cash App Card Primary Banking Bitcoin Cash App Pay Borrow Savings Actives Actives Accounts Actives Actives Actives Primary banking actives are as of Oc

  7. Slide 7: Engagement increases when we utilize owned channels

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Engagement increases when we utilize owned channels 2.5x +$615M +$615M average monthly inflows Q3ʼ25 owned channel- for actives utilizing driven incremental 2+ products vs. 1 Cash App Card GPV Average monthly inflows multiplier January 1 to September 30,

  8. Slide 8: Hyperlocal, cost-effective approach to paid marketing

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Hyperlocal, cost- effective approach to paid marketing We're not just marketing nationally — we're targeting with precision, using our unique data insights to find and activate Cash App communities across the country. Represents internal Cash App data.

  9. Slide 9: Cash GTM strategy

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Cash GTM strategy Driving product attach by leveraging → owned and operated channels → Scaling customer acquisition efficiently → Building brand through cultural partnerships

  10. Slide 10: Payback period across direct acquisition channels

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY 26 quarter payback Paid Marketing Referrals period across direct Q1ʼ25 acquisition channels Q2ʼ25 Q3ʼ25 Q4ʼ25 Est 0 2 4 6 Quarters See appendix for definition of payback period.

  11. Slide 11: Cash GTM strategy

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Cash GTM strategy Driving product attach by leveraging → owned and operated channels → Scaling customer acquisition efficiently → Building brand through cultural partnerships

  12. Slide 12: Aligning our brand with key culture carriers

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Aligning our brand with key culture carriers > 2.5M Sabrina Carpenter- stamped Cash App Cards distributed to date Represents Cash App Cards distributed to date through September 30, 2025.

  13. Slide 13: Cash App is Square's advantage, and Square's is Cash App

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Cash App is Squareʼs advantage, and Squareʼs is Cash App

  14. Slide 14: Transforming Square's go-to-market opportunity

    SECTION 02 Transforming Squareʼs go-to-market opportunity

  15. Slide 15: The Square state of play on Jan 1

    Section Title BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY The Square state of play on Jan 1 Telesales motion with room to scale → Limited field sales motion → End-to-end strategy was lacking → No strong ROI model

  16. Slide 16: Minimal Square NVA growth 2022-2024

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Minimal Square NVA $40B growth 20222024 $30B $20B $10B $0B 2022 2023 2024 See appendix for definition of NVA.

  17. Slide 17: Reacceleration is well underway

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Reacceleration is $40B well underway $30B $20B $10B +15% +23% $0B FYʼ25 est. NVA Q4ʼ25 est. NVA 2022 2023 2024 2025 Est YoY growth YoY growth See appendix for definition of NVA.

  18. Slide 18: We're growing volume and profit

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY We're growing 12% volume and profit NVA YTD YoY % 11% NPA YTD YoY % ● Strong unit economic growth ● US NPA growth outpacing NVA ● International margins narrower due to Interchange regulation ● As sales-driven mix increases, higher software attach but mar

  19. Slide 19: Square GTM strategy

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Square GTM strategy → Self-onboarding → Brand transformation → Sales motion → New channels and growth acceleration

  20. Slide 20: Marketing-driven acquisition is accelerating

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Marketing-driven Self-Onboarded NVA Growth acquisition is 15 accelerating as we reinvigorate retail 10 9% 9% 5 4% 2% 3% +18% 71% 0 1% 4% Q3 YoY Marketing Q3 marketing mix of Q1ʼ24 Q2ʼ24 Q3ʼ24 Q4ʼ24 Q1ʼ25 Q2ʼ25 Q3ʼ25 NVA growth Self-Onboarded NVA See ap

  21. Slide 21: Scaling spend materially in 2025 while maintaining strong unit economics

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Scaling spend materially Square Marketing Spend in 2025 while $302M maintaining strong $282M unit economics $214M $209M 4-5 Qtr +300% payback in 2025 ROI in 2025 2022 2023 2024 2025 Est See appendix for definitions of payback period, ROI, and Square Mark

  22. Slide 22: Ongoing strategies to drive self-onboard momentum

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Ongoing strategies to drive self-onboard Win demand in the Unlock more AI era performance momentum marketing upside Personalized digital Smarter onboarding experiences and adoption Brand and local GTM

  23. Slide 23: Square GTM strategy

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Square GTM strategy → Self-onboarding → Brand transformation → Sales motion → New channels and growth acceleration

  24. Slide 24: We've reintroduced Square to the world

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Weʼve reintroduced Square to the world Square represents something much deeper than payments and tools. Weʼre connecting people, businesses, and the neighborhoods they power.

  25. Slide 25: Our campaign and brand work are shifting perceptions

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Our campaign and brand work are shifting perceptions +4.5 pts +6.5 pts +5.3 pts is made for businesses is made for my industry offers robust features/products my size that meet my needs Source: Media Monks - Square Horizontal Campaign 2025

  26. Slide 26: Square GTM strategy

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Square GTM strategy → Self-onboarding → Brand transformation → Sales motion → New channels and growth acceleration

  27. Slide 27: Expanding our market reach

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Expanding our Global Sales NVA 20222025 market reach $12.5B Our sales transformation is already delivering exceptional results — $10.0B and we're just getting started $7.5B $5.0B +71% 12% $2.5B $0B international sales field sales NVA as a 2022 2023 20

  28. Slide 28: Field sales transformation

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Field sales transformation 0 15 42 150+ 300+ In-Seat AEs In-Seat AEs In-Seat AEs In-Seat AEs In-Seat AEs NOV ‘24 JAN ‘25 JUN ‘25 DEC ‘25 EST. 2027 EST. Global Expansion UNIQUE COMPETITIVE ADVANTAGE Cash App data driving optimal team density and territory

  29. Slide 29: Field sales expansion governed by marginal ROIs

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Field sales expansion US Sales Payback governed by US Outside US Field marginal ROIs Q1ʼ25 Q2ʼ25 Q3ʼ25 ~250% Q4ʼ25 Est Est. Marginal ROI in FYʼ25 for US Field Sales 0 2 4 6 8 Quarters See appendix for definitions of Marginal ROI, Field Sales, and Outside

  30. Slide 30: Field sales scaling through key partnerships

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Field sales scaling through key partnerships Case study: working with Sysco to create customer value >50% "Square Kiosk boosted our sales of inbound leads to field sales YTD fueled by partner by 30%ˮ relationships, including Sysco – Ayham Alammar, Owner,

  31. Slide 31: Key field & upmarket wins

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Key field & Key Merchants Partner Panel upmarket wins

  32. Slide 32: Square GTM strategy

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Square GTM strategy → Self-onboarding → Brand transformation → Sales motion → New channels and growth acceleration

  33. Slide 33: Scaling our partnership motion via third-party sales

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Scaling our Third-Party Sales as % of NVA Mix partnership motion US Mix % INTL Mix % via third-party sales 11% 11% ~ $500K 90% avg expected seller signings at rack rates or 1% 0% GPV per signing flat-rate equivalent 2025 Est 2028 Est NVA mix expressed as

  34. Slide 34: Scaling our international footprint

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Scaling our International NVA international footprint Sales Onboarded Self-Onboarded ● Strong product-market fit 45% ● Scale of investment and access to quality hardware 36% ● Speed and processing costs 33% ● New expansion opportunities in 31% 55% LATAM,

  35. Slide 35: Transforming Square's GTM opportunity

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Transforming Squareʼs NVA Growth Opportunity GTM opportunity 23% CAGR ● Reinvigorated self-onboarding ● Brand transformation connects us to the right sellers ● Sales motion continues to build ● New channels & growth acceleration in field, partnerships, a

  36. Slide 36: We believe we have four sustainable competitive advantages

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY We believe we have four sustainable competitive advantages 01 02 03 04 We have true Weʼve invested Cash App is We have seen global reach deeply in payment Squareʼs advantage strong, profitable architecture and Square is growth Cash Appʼs acceleration

  37. Slide 37: We're winning more today than yesterday

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Weʼre winning more today than yesterday

  38. Slide 38: Thank you

    THANK YOU!

  39. Slide 39: Appendix

    SECTION 04 Appendix

  40. Slide 40: Appendix

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Appendix New Cash App active is when an active makes a qualifying money Primary Banking active is a Cash App account that receives inflows from movement transaction. ACH or certain original credit transactions relating to earned wages, excluding tax refu

  41. Slide 41: Appendix

    BLOCK INVESTOR DAY 2025 GO-TO-MARKET STRATEGY Appendix Marketing NVA is the total gross payment volume GPV) processed, or Sales NVA is the total gross payment volume GPV) processed, or expected expected to be processed, by new sellers during their first 12 months on to be processed, by new sellers

Block — Investor Day (2025) on 6ix