Form 10-Q · Quarterly report
Block, Inc. 10-Q, filed Nov 3, 2026
- Filed
- CIK
- 0001512673
- Accession no.
- 0001628280-26-069524
Summary
Block reported third-quarter 2026 gross profit of $3.2 billion, up 22% year over year, with Cash App gross profit of $2.1 billion (up 27%), Square gross profit of $1.2 billion (up 14%), and net income attributable to common stockholders of $565.6 million. Block said the workforce reduction plan it announced in February 2026, which cut more than 40% of staff, concluded in the second quarter of fiscal 2026, with $495.0 million in restructuring charges for the nine months and expected annualized net cost savings of $800 million to $900 million.
Key points
- Total net revenue rose 10% to $6.72 billion; excluding bitcoin ecosystem revenue, total net revenue rose 20%.
- Operating income was $428.5 million and Adjusted EBITDA was $1.2 billion, versus $832.7 million a year earlier, with net income including a $229.7 million gain from remeasurement of Block's bitcoin investment.
- Bitcoin ecosystem revenue fell 11% to $1.80 billion on a lower average bitcoin market price, contributing 27% of revenue but only 2% of gross profit.
- Block ended the quarter with $10.1 billion in available liquidity and had repurchased $4.4 billion of Class A common stock under a program authorized for up to $9 billion.
Written by an AI model from the filing text. It can be incomplete or wrong; the filing on SEC.gov is the record.
From the filing
Item 2. Management’s Discussion Overview We launched the Square ecosystem in February 2009 to enable businesses ("sellers") to accept card payments, a critical capability that had previously been inaccessible to many businesses. We have since expanded to provide sellers additional products and services and to give them access to a cohesive ecosystem of tools to help them start, run, and grow their businesses. Similarly, with Cash App, we have built an ecosystem of financial products and services to help consumers manage their money. …
An excerpt of the text as filed with the SEC, cut for length.
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