• Quarterly report with comprehensive company overview
• Net revenue of $17.9 billion, up 10% year-over-year
• Net income of $1.2 billion, up 26% year-over-year
• Continued growth in subscription and services-based revenue

Block, Inc. reported its financial results for the third quarter of 2025. The company generated net revenue of $17.9 billion, up 10% year-over-year, driven by growth across its transaction-based, subscription and services-based, and Bitcoin revenue streams. Net income for the quarter was $1.2 billion, an increase of 26% compared to the same period in the prior year. The company's subscription and services-based revenue grew 17% year-over-year to $6.1 billion, reflecting continued strong demand for its products and services. Transaction-based revenue increased 6% to $5.2 billion, while Bitcoin revenue was $6.4 billion, down 17% from the prior year period.Operating expenses rose 10% to $6.3 billion, primarily due to higher transaction, loan, and consumer receivable losses, as well as increased investment in product development and sales and marketing. The company maintained a disciplined approach to cost management, capping its employee base during the quarter.Block ended the quarter with a strong balance sheet, including $8.3 billion in cash and cash equivalents. The company continued to invest in its product portfolio and strategic initiatives to drive long-term growth and innovation.

Block expects full-year 2025 revenue to be in the range of $23 billion to $24 billion, with adjusted EBITDA margin in the range of 18% to 20%.

The company remains focused on executing its strategic priorities, including further expanding its ecosystem of products and services, driving customer acquisition and engagement, and investing in technology and infrastructure to support long-term growth. Block is well-positioned to capitalize on the continued shift towards digital payments and financial services.