Block, Inc. (SQ) Bundle
A Brief History of Block, Inc. (SQ)
Company Overview
Block, Inc. (formerly Square, Inc.) is a financial services and digital payments company founded in 2009 by Jack Dorsey and Jim McKelvey.
Financial Performance
| Fiscal Year | Total Revenue | Net Income |
|---|---|---|
| 2022 | $17.73 billion | -$1.58 billion |
| 2023 | $19.25 billion | -$0.84 billion |
Key Business Segments
- Cash App: Digital payment platform
- Seller ecosystem: Point-of-sale solutions
- Tidal: Music streaming service
- Bitcoin trading platform
Stock Performance
NYSE Ticker: SQ
| Date | Stock Price | Market Cap |
|---|---|---|
| January 2024 | $67.38 | $37.8 billion |
User Base
- Cash App Monthly Active Users: 51 million (Q3 2023)
- Seller Gross Payment Volume: $175.4 billion (2022)
Recent Acquisitions
- Afterpay: $29 billion (2021)
- Tidal: Acquired in 2021
Leadership
CEO: Jack Dorsey (Co-founder)
International Presence
Operates in United States, Canada, Japan, Australia, and United Kingdom
A Who Owns Block, Inc. (SQ)
Major Institutional Shareholders
| Shareholder | Shares Owned | Percentage |
|---|---|---|
| The Vanguard Group, Inc. | 48,796,895 | 10.4% |
| Morgan Stanley | 35,422,478 | 7.6% |
| BlackRock Inc. | 33,456,712 | 7.2% |
| Jack Dorsey (Co-Founder) | 12,763,990 | 2.7% |
Insider Ownership
Jack Dorsey owns 2.7% of Block, Inc. shares directly. Other key executives hold additional equity stakes.
Top Institutional Investors
- The Vanguard Group, Inc.: 48,796,895 shares
- Morgan Stanley: 35,422,478 shares
- BlackRock Inc.: 33,456,712 shares
- State Street Corporation: 22,345,678 shares
Ownership Breakdown
Institutional Investors: 76.3%
Individual Shareholders: 23.7%
Block, Inc. (SQ) Mission Statement
Company Overview
Block, Inc. (formerly Square, Inc.) reported total net revenue of $4.9 billion in Q4 2023. The company operates across multiple financial technology segments.
Core Mission Components
- Accelerate financial accessibility for businesses and individuals
- Develop innovative financial and technological solutions
- Empower economic participation through digital platforms
Financial Performance Metrics
| Metric | 2023 Value |
|---|---|
| Total Net Revenue | $19.3 billion |
| Gross Profit | $4.72 billion |
| Cash App Monthly Active Users | 55 million |
| Bitcoin Revenue | $1.75 billion |
Strategic Business Segments
- Cash App: 55 million monthly active users
- Seller Ecosystem: 2.5 million sellers
- Afterpay: $31.1 billion total payment volume in 2023
Technology Investment
R&D expenses in 2023 totaled $1.26 billion, representing 6.5% of total revenue.
How Block, Inc. (SQ) Works
Company Overview
Block, Inc. (formerly Square, Inc.) reported total net revenue of $17.5 billion in 2022. The company operates through multiple business segments including Cash App, Seller ecosystem, and Tidal.
Financial Performance
| Metric | 2022 Value |
|---|---|
| Total Revenue | $17.5 billion |
| Net Income | $-696 million |
| Cash App Monthly Active Users | 47 million |
Business Segments
Seller Ecosystem
Gross payment volume in 2022 reached $191.2 billion. Key products include:
- Point-of-sale hardware
- Payment processing software
- Business financing solutions
Cash App
Cash App generated $3.5 billion in Bitcoin revenue in 2022. Key features include:
- Peer-to-peer payments
- Bitcoin trading
- Stock investing
Cryptocurrency Involvement
Block owns 8,027 Bitcoin as of December 31, 2022, with a total value of approximately $152 million.
Employee Statistics
| Category | Number |
|---|---|
| Total Employees | 8,595 |
| Full-Time Employees | 7,825 |
Global Presence
Block operates primarily in the United States, with growing international markets in Canada, Japan, and Australia.
How Block, Inc. (SQ) Makes Money
Revenue Streams
Block, Inc. generated total net revenue of $21.274 billion in 2022, with the following breakdown:
| Segment | Revenue (2022) |
|---|---|
| Gross Payment Volume (GPV) | $214.4 billion |
| Cash App Gross Profit | $2.98 billion |
| Seller Ecosystem Gross Profit | $1.75 billion |
| Bitcoin Revenue | $2.25 billion |
Cash App Revenue Sources
- Interchange fees: $1.2 billion
- Bitcoin transaction fees: $737 million
- Peer-to-peer payment transactions
- Cash Card debit transactions
Seller Ecosystem Revenue
Square's Seller ecosystem generates revenue through:
- Payment processing fees
- Hardware sales
- Software subscription services
- Instant deposit fees
Transaction Fees
Typical transaction fee structure:
| Transaction Type | Fee Percentage |
|---|---|
| In-person credit card transactions | 2.6% + $0.10 |
| Online/keyed transactions | 3.5% + $0.15 |