Block, Inc. (formerly Square) is a global financial services and technology company. Its ecosystem includes Square (point-of-sale and business tools for merchants), Cash App (peer-to-peer payments and banking for consumers), Afterpay (buy-now-pay-later), and TIDAL (music streaming). The company also has significant Bitcoin holdings and infrastructure through its Spiral unit.
Block, Inc. (formerly Square) is a global financial services and technology company. Its ecosystem includes Square (point-of-sale and business tools for merchants), Cash App (peer-to-peer payments and banking for consumers), Afterpay (buy-now-pay-later), and TIDAL (music streaming). The company also has significant Bitcoin holdings and infrastructure through its Spiral unit.
Founded in 2009 by Jack Dorsey and Jim McKelvey in San Francisco after McKelvey was unable to complete a $2,000 art sale due to the inability to accept credit cards. Square pioneered the mobile card reader and went public in November 2015 on the NYSE as SQ. The company rebranded to Block, Inc. in December 2021 to reflect its expanded ecosystem beyond the Square brand, and changed its ticker to XYZ in January 2025.
Block reported Q1 2026 adjusted EPS of $0.85 (vs $0.56 prior year) with gross profit climbing 27% year-over-year to $2.91 billion. Cash App gross profit rose 38% to $1.91B. Block raised its 2026 full-year gross profit guidance to $12.33 billion.
In February 2026 Block announced a workforce reduction of more than 4,000 employees, cutting headcount from over 10,000 to under 6,000 as it leans into an AI-first operating model across Square and Cash App.
Jack Dorsey announced Block will reduce its headcount from 10,205 to under 6,000 employees—nearly a 40% reduction—as part of an AI transformation strategy, with internal agent Builderbot reviewing 90%+ of production code changes.
At its 2025 Investor Day, Block shared a multi-year financial outlook projecting gross profit to grow to approximately $15.8 billion by 2028, with adjusted operating income of $4.6 billion and EPS growing ~30% annually.
Block's third-quarter 2025 results reported total gross profit of $2.66B, up 18% year over year, with Square continuing to grow gross profit and the company expanding its AI roadmap across seller and Cash App.
Square announced that, starting November 4, 2025, sellers could accept bitcoin payments at checkout alongside cards and tap-to-pay, with instant settlement and zero processing fees through 2026, leveraging Block's Bitcoin stack.
Square's Vol. 2 2025 release wave introduced AI-powered voice ordering that routes calls into POS and KDS, Square Kiosk UX improvements, and additional Square Online and Services upgrades.
Block's Q2 2025 results showed Square segment gross profit of $1.03B (+11% YoY) and total company gross profit of $2.54B (+14% YoY), with record adjusted operating margins.
Block announced the launch of bitcoin payments on Square, with rollout expected to begin in H2 2025 and reach all eligible Square sellers in 2026, expanding cryptocurrency utility for millions of merchants.
Square brought its AI assistant to merchants in the United Kingdom, allowing UK sellers to query their own business data, generate reports and surface trends through a chat interface.
Co-Founder & CEO
Previously Twitter
Jack Dorsey is the Co-Founder and former CEO of Square (now Block, Inc.). He co-founded the company in 2009 alongside Jim McKelvey after McKelvey was unable to accept a credit card payment for an art sale. Dorsey also co-founded Twitter and served as CEO of both companies simultaneously for a period.
Co-founder & Block Head (CEO, Block, Inc.)
Co-founder of Twitter (2006) and Square (2009). Took Square public in 2015 and renamed the parent company to Block, Inc. in December 2021, where he serves as Block Head (CEO) overseeing Square, Cash App, TIDAL, Spiral and Bitkey.
Co-Founder
Jim McKelvey is the Co-Founder of Square (now Block, Inc.). He co-founded the company in 2009 with Jack Dorsey after being unable to complete a credit card transaction as a glassblowing artist. McKelvey is also a noted author and serial entrepreneur.
$243M raised total
Petitioner on record
MSQUARE TECHNOLOGIES INC · MALVERN, PA
FY 2025
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