Fool.com contributor Parkev Tatevosian highlights one selection from Cathie Wood's portfolios that he believes makes an excellent investment for 2024 and beyond.*Stock prices used were the afternoon prices of Dec. 21, 2023. The video was published on Dec. 23, 2023. ...

Cathie Wood is well known as the CEO of Ark Invest, an investment firm that focuses on owning businesses that have tremendous disruptive potential. Individual investors look to her for ideas, likely because the flagship Ark Innovation ETF is up 70% in 2023 (as of Dec. 22).On the list of holdings, you'll quickly see fintech powerhouse Block (SQ 0.31%). In fact, Ark Invest has made two sizable purchases of this company's stock just in the month of December.Should the average investor follow these moves? I thi ...

When financial technology (fintech) company Block (SQ 0.31%)went public in 2015, back when it was known as Square, it explained its business in its registration documents like this: "We started Square in February 2009 to enable anyone with a mobile device to accept card payments, anywhere, anytime." The company had a square-shaped credit card reader that plugged right into smartphones and tablets.Block has more hardware devices today, and many people think of these devices when thinking about the company. H ...

miniseries Investment Thesis Since its bubble burst in late 2021, Block (NYSE:SQ) stock has failed to recapture positive market sentiment, underperforming the broader market. Yet the quality of Block's underlying businesses remains robust. Despite valid investor criticisms and a more uncertain growth trajectory, Block's long-term opportunity still looks compelling. A more disciplined managerial approach has led to early signs of improving profitability, which is becoming more vital as overall topline growth ...

Block, Inc. (NYSE:SQ) Q3 2023 Earnings Conference Call November 2, 2023 5:00 PM ET Company Participants Nikhil Dixit - Head of Investor Relations Jack Dorsey - Block Head, Square Head, Chairman, and Co-Founder Amrita Ahuja - Chief Operating Officer and Chief Financial Officer Conference Call Participants Tien-Tsin Huang - JPMorgan Timothy Chiodo - UBS Darrin Peller - Wolfe Research Ramsey El-Assal - Barclays Harshita Rawat - Bernstein Trevor Williams - Jefferies Alex Markgraff - KBCM Bryan Keane - Deutsche ...

Financial Performance - Gross profit for Q3 2023 was $1.9 billion, representing a 21% year-over-year increase, driven by Cash App and Square ecosystems [164]. - Cash App generated gross profit of $983.9 million in Q3 2023, up 27% year-over-year, attributed to growth in transacting actives and adoption of financial services products [164]. - Square generated gross profit of $899.0 million in Q3 2023, up 15% year-over-year, as the company focused on growing upmarket with larger sellers [164]. - Adjusted Operating Income for Q3 2023 was $89.7 million, an increase of 179% year-over-year, while operating loss was $9.9 million [165]. - Net loss for Q3 2023 was $29.0 million, a 97% increase year-over-year, with Adjusted EBITDA rising 46% to $477.5 million [165]. - Adjusted Net Income Per Share for Q3 2023 was $0.55, compared to $0.42 in Q3 2022, indicating improved profitability [170]. - Total net revenue for the three months ended September 30, 2023 increased by $1.1 billion, or 24%, to $5,617,493 thousand, compared to $4,515,541 thousand in the same period of 2022 [187]. - Total net revenue for the nine months ended September 30, 2023 increased by $3.3 billion, or 25%, to $16,142,581 thousand, compared to $12,880,685 thousand in the same period of 2022 [188]. Revenue Breakdown - Bitcoin revenue for the three months ended September 30, 2023 increased by $660.8 million, or 37%, contributing 43% of total net revenue [190]. - Subscription and services-based revenue for the three months ended September 30, 2023 increased by $301.4 million, or 25%, driven by growth in Cash App's financial service-related products [189]. - Transaction-based revenue for the three months ended September 30, 2023 increased by $140.8 million, or 9%, driven by growth in Gross Payment Volume (GPV) [189]. - Cash App segment revenue for the three months ended September 30, 2023, increased by $900.1 million, or 34%, compared to the same period in 2022 [211]. - Cash App's bitcoin revenue contributed 68% of total revenue for the three months ended September 30, 2023 [211]. Costs and Expenses - Total cost of revenue for the three months ended September 30, 2023 increased by $770.6 million, or 26%, compared to the same period in 2022, driven primarily by a $652.9 million increase in Bitcoin costs [192]. - Transaction-based costs for the three months ended September 30, 2023 rose by $82.7 million, or 9%, while Gross Payment Volume (GPV) grew by 10% in the same period [193]. - Subscription and services-based costs increased by $33.4 million, or 15%, for the three months ended September 30, 2023, largely due to growth in Cash App's financial service-related products [193]. - Bitcoin costs for the three months ended September 30, 2023 increased by $652.9 million, or 38%, compared to the same period in 2022 [194]. - Product development expenses for the three months ended September 30, 2023 increased by $165.8 million, or 30%, primarily due to higher personnel costs related to engineering teams [198]. - General and administrative expenses for the three months ended September 30, 2023 increased by $85.4 million, or 22%, mainly due to increased personnel costs in customer support and compliance [201]. - Share-based compensation expense for the three months ended September 30, 2023 was $345,690 thousand, up from $262,733 thousand in the same period of 2022 [185]. Cash Flow and Liquidity - Available liquidity at the end of Q3 2023 was $8.1 billion, including $7.3 billion in cash and cash equivalents, an increase of $608.5 million from the end of 2022 [166]. - Total liquidity as of September 30, 2023, was approximately $10.3 billion, including cash, cash equivalents, and investments in marketable debt securities [217]. - Cash provided by operating activities for the nine months ended September 30, 2023, was $898.9 million, compared to $130.5 million for the same period in 2022, reflecting a significant increase [232][233]. - Cash provided by investing activities for the nine months ended September 30, 2023, was $405.0 million, down from $1.5 billion in the same period in 2022 [234][235]. - Cash used in financing activities for the nine months ended September 30, 2023, was $1.0 billion, primarily due to the settlement of 2023 Convertible Notes and net repayments from Warehouse Facilities borrowings [236]. - The company has $775.0 million available under its revolving credit facility as of September 30, 2023 [215]. Stock and Shareholder Actions - The board authorized a stock repurchase program of up to $1 billion to offset dilution from stock-based compensation [167]. - The company intends to continue focusing on long-term business initiatives and has a proposed share repurchase plan of $1.0 billion [215]. - As of September 30, 2023, the company has purchased a cumulative $220.0 million in bitcoin for investment purposes [218]. Risk and Liabilities - The safeguarding obligation liability related to bitcoin held for other parties was $676.4 million as of September 30, 2023, with measures in place to mitigate potential risks [229]. - The company does not expect potential future cash flows associated with the bitcoin safeguarding obligation liability [229]. - The net loss for the nine months ended September 30, 2023, was $178.9 million, adjusted for non-cash expenses totaling $1.4 billion [232]. Segment Information - The company has two reportable segments, Square and Cash App, with Afterpay's results allocated equally to both segments [206]. - Square segment revenue for the three months ended September 30, 2023, increased by $207.8 million, or 12%, compared to the same period in 2022 [208]. - Cost of revenue for the Square segment increased by $91.8 million, or 9%, for the three months ended September 30, 2023, compared to the same period in 2022 [209]. - Cash App's cost of revenue for the three months ended September 30, 2023, increased by $690.7 million, or 36%, compared to the same period in 2022 [213].

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Block, Inc. (NYSE:SQ) Q2 2023 Earnings Call Transcript August 3, 2023 5:00 PM ET Company Participants Nikhil Dixit - Head of Investor Relations Jack Dorsey - Co-Founder, Chairman and President Amrita Ahuja - Chief Financial Officer and Treasurer Conference Call Participants Tien-Tsin Huang - JP Morgan Darrin Peller - Wolfe Research Tim Chiodo - Credit Suisse Lisa Ellis - MoffettNathanson Ken Suchoski - Autonomous Research. Bryan Keane - Deutsche Bank Harshita Rawat - Bernstein Rayna Kumar - UBS Ramsey El-As ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ______________________ FORM 10-Q ______________________ (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ________ to ________ Commission File Number: 001-37622 ______________________ Block, Inc. (Exact name of registra ...

Block, Inc. (NYSE:SQ) 51st Annual J.P. Morgan Global Technology, Media and Communications Conference Call May 23, 2023 1:15 PM ET Company Participants Jack Dorsey - Co-Founder and Chief, Block Head Amrita Ahuja - Chief Operating Officer and Chief Financial Officer Conference Call Participants Tien-Tsin Huang - J.P. Morgan Tien-Tsin Huang Alright. I know it's a quick transition. Appreciate everyone sticking around. So, you can hear my views on politics and world and inflation and everything else. I'm sure th ...