Block, Inc
XYZ.US Full Coverage
Last updated:
Volume
52W avg
Day Range
52W High
52W Low
Market Cap
Div Yield
Forward P/E
P/B
Headlines
FY2026 Q1
Block delivered Q1 results that beat its own guidance, prompting a material lift to its full‑year 2026 outlook. Gross profit surged 27% YoY to $2.91 billion—above the 22% target—while adjusted operating income hit $728 million versus the $600 million forecast, and the company now projects full‑year gross profit growth of 19% and adjusted diluted EPS growth of 62%. The acceleration was broad‑based, highlighted by a 38% rise in Cash App gross profit, a 175% jump in Borrow originations, and a 190% surge in annualized GPV on the new Neighborhoods platform since December.
Gross Profit
$2.91B
+27.0% YoY
Adjusted Operating Income
$728M
+56.2% YoY
FY 2026 Gross Profit Guidance
$12.33B
+$130M
Cash App Gross Profit Growth
38.3% YoY
+540 bps QoQ
Square GPV Growth
13.1% YoY
+280 bps QoQ
What We're Watching
Strategic / Opportunity
"Neighborhoods" Initiative Scaling and User Impact
📅
Next 2-3 Quarters
What to Monitor
The pace of seller additions (progressing from "hundreds" to "thousands" per week), growth in annualized GPV on the platform, and initial data on its contribution to Cash App monthly active user growth in the second half of the year.
Why It Matters
This is the key ecosystem-linking initiative. Success is critical to creating a powerful competitive moat and validating its potential as a new, capital-efficient user acquisition channel for Cash App.
Operational / Opportunity
Engagement and Cross-Sell from AI Products (Managerbot & Moneybot)
📅
Next Quarter / Ongoing
What to Monitor
Growth in the number of active sellers using Managerbot as it moves to general availability in June, and data confirming Moneybot's impact on cross-sell (e.g., the rate at which it drives attachment of new products).
Why It Matters
These are the first major customer-facing products from the AI-driven restructuring. Their ability to drive tangible business outcomes like retention and upsell is a key test of the "intelligence company" thesis and future monetization potential.
Operational / Risk
Cash App User Growth Trajectory
📅
Next Quarter / Ongoing
What to Monitor
The reported YoY growth rate for Monthly Transacting Actives to see if the recent acceleration to 4% (fastest in 1.5 years) is sustained, and any commentary on the contribution from new initiatives like Neighborhoods and managed accounts for kids.
Why It Matters
While management guides for "low single-digit" growth, a sustained higher rate would signal strong network health and successful new user acquisition. A deceleration could be a headwind to the segment's long-term growth algorithm.
Strategic
Scaling of Square's Independent Sales Organization (ISO) Channel
📅
Next 1-2 Quarters
What to Monitor
Growth in the number of active ISO partners (from 140+), the New Volume Added (NVA) contribution from the channel, and confirmation that payback periods and unit economics remain strong as the channel scales.
Why It Matters
The ISO channel is a key pillar of Square's GTM diversification. Its success is critical for sustaining NVA growth in a capital-efficient manner and expanding Square's reach with more complex, upmarket sellers.
Operational / Risk
Pace of Cash App Borrow Growth Normalization
📅
Next Quarter / H2 2026
What to Monitor
The YoY growth rate of Consumer Lending Origination Volume. A sharp deceleration could signal a headwind to Cash App's overall growth, while a more gradual normalization would be favorable for sustaining momentum.
Why It Matters
Borrow has been a primary driver of Cash App's hypergrowth (175% YoY originations in Q1). Management expects this to "normalize." The pace of this slowdown will directly impact Cash App's gross profit growth rate in the second half of the year.
