BLOCK(US:SQ)2024-08-01 22:07Market Opportunity - Block estimates Square represents a ~$130 billion gross profit opportunity[20] - Square has penetrated less than 1% in the mid-market segment[30] - Cash App represents a ~$75 billion gross profit opportunity in the U S[38] - Cash App is reaching less than 20% of the U S population today[40] Square Ecosystem - In Q2 2024, GPV from mid-market sellers (>$500K annualized GPV) reached $54 2 billion[60] - International gross profit for Square grew $121 million year-over-year[58] - Gross profit from international markets is increasing as a % of overall Square gross profit[58] Cash App Ecosystem - Cash App has 57 million actives[67] - Inflows per active for Cash App are $1,243[67] - Monetization rate for Cash App is 1 53%[70] Financial Guidance - The company raised its full-year gross profit guidance to at least $8 89 billion, representing 18% year-over-year growth[105] - The company expects full-year Adjusted Operating Income of at least $1 44 billion, a 16% margin[105] - For Q3 2024, the company expects $2 22 billion of gross profit, a 17% year-over-year growth, and $320 million of Adjusted Operating Income[110, 111]