Block Inc.
Income Statement
| Line Item | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $24.19B | $24.12B | $21.92B | $17.53B | $17.66B | $9.50B | $4.71B | $3.30B |
| Transaction-based revenue | — | $6.61B | $6.32B | $5.70B | $4.79B | $3.29B | $3.08B | $2.47B |
| Starbucks transaction-based revenue | — | — | — | — | — | — | — | — |
| Subscription and services-based revenue | — | $7.16B | $5.94B | $4.55B | $2.71B | $1.54B | $1.03B | $591.7M |
| Hardware revenue | — | $143.4M | $157.2M | $164.4M | $145.7M | $91.7M | $84.5M | $68.5M |
| Bitcoin revenue | — | $10.20B | $9.50B | $7.11B | $10.01B | $4.57B | $516.5M | $166.5M |
| Commerce enablement revenue | $11.51B | — | — | — | — | — | — | — |
| Financial solutions revenue | $4.18B | — | — | — | — | — | — | — |
| Bitcoin ecosystem revenue | $8.50B | — | — | — | — | — | — | — |
| Cost of Revenue | $13.83B | $15.23B | $14.41B | $11.54B | $13.24B | $6.76B | $2.82B | $1.99B |
| Gross Profit | $10.36B | $8.89B | $7.50B | $5.99B | $4.42B | $2.73B | $1.89B | $1.30B |
| Gross Margin | 42.8% | 36.9% | 34.2% | 34.2% | 25.0% | 28.8% | 40.1% | 39.5% |
| Operating Expenses | ||||||||
| Research & Development | $2.91B | $2.91B | $2.72B | $2.14B | $1.38B | $881.8M | $674.2M | $497.5M |
| SG&A Expense | $2.00B | $2.15B | $2.21B | $1.69B | $982.8M | $579.2M | $436.9M | $339.2M |
| Operating Income | $1.71B | $892.3M | $-278.8M | $-624.5M | $161.1M | $-18.8M | $26.6M | $-36.6M |
| Operating Margin | 7.1% | 3.7% | -1.3% | -3.6% | 0.9% | -0.2% | 0.6% | -1.1% |
| Interest Expense | $256.4M | $165.5M | $0 | $0 | $58.1M | $75.2M | $44.9M | $37.8M |
| Pretax Income | $1.69B | $1.36B | $-29.1M | $-565.3M | $157.5M | $216.0M | $378.2M | $-36.1M |
| Income Tax Expense | $385.7M | $-1.51B | $-8.0M | $-12.3M | $-1.4M | $2.9M | $2.8M | $2.3M |
| Net Income | $1.31B | $2.90B | $9.8M | $-540.7M | $166.3M | $213.1M | $375.4M | $-38.5M |
| Net Margin | 5.4% | 12.0% | 0.0% | -3.1% | 0.9% | 2.2% | 8.0% | -1.2% |
| EPS (Basic) | $2.13 | $4.70 | $0.02 | $-0.93 | $0.36 | $0.48 | $0.88 | $-0.09 |
| EPS (Diluted) | $2.10 | $4.56 | $0.02 | $-0.93 | $0.33 | $0.44 | $0.81 | $-0.09 |
| Shares Outstanding (Basic) | 612.2M | 617.0M | 608.9M | 578.9M | 458.4M | 443.1M | 425.0M | 405.7M |
| Shares Outstanding (Diluted) | 622.8M | 636.4M | 614.0M | 578.9M | 501.8M | 482.2M | 466.1M | 405.7M |
| Dividends Per Share | — | — | — | — | — | — | — | — |