Block Inc-A 2025年季度报告

FORM10-Q______________________ (Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d)OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period endedMarch 31, 2025OR For the transition period from________ to ________Commission File Number:001-37622 Block, Inc. (Exact name of registrant as specified in its charter)______________________ 80-0429876(I.R.S EmployerIdentification No.) Delaware (State or other jurisdiction ofincorporation or organization) 1955 Broadway,Suite 600Oakland,CA94612(Address of principal executive offices, including zip code)(415)375-3176(Registrant’s telephone number, including area code)1 Securities registered pursuant to Section 12(b) of the Act: Name of each exchange on which registered Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the Securities Exchange Act of 1934 during thepreceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to such filing requirements for the past 90days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T(§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerginggrowth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of theExchange Act. Large accelerated filer☒Accelerated filer☐Non-accelerated filer☐Smaller reporting company☐Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revisedfinancial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).Yes☐No☒ As of April25, 2025, the number of shares (in thousands) of the registrant’s Class A and Class B common stock outstanding were555,001and60,018, respectively. We have adopted a distributed work model and, therefore, have no formal headquarters. This address represents our "principal executive office," which we are requiredto identify under Securities and Exchange Commission rules.1 TABLE OF CONTENTS Page No.PART I—Financial InformationItem1. Financial StatementsCondensed Consolidated Balance Sheets (unaudited)4Condensed Consolidated Statements of Operations (unaudited)5Condensed Consolidated Statements of Comprehensive Income (unaudited)6Condensed Consolidated Statements of Stockholders' Equity (unaudited)7Condensed Consolidated Statements of Cash Flows (unaudited)8Notes to the Condensed Consolidated Financial Statements (unaudited)10Item2. Management’s Discussion and Analysis of Financial Condition and Results of Operations35Item3. Quantitative and Qualitative Disclosures About Market Risk50Item4. Controls and Procedures51PART II—Other InformationItem 1. Legal Proceedings52Item1A. Risk Factors52Item 2. Unregistered Sales of Equity Securities and Use of Proceeds89Item 3. Defaults Upon Senior Securities89Item 4. Mine Safety Disclosures89Item 5. Other Information90Item6. Exhibits91Signatures92 This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of theSecurities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve substantialrisks and uncertainties. Forward-looking statements generally relate to future events or our future financial or operating performance.In some cases, you can identify forward-looking statements because they contain words such as “may,” “will,” “appears,” “should,”“expects,”“plans,”“anticipates,”“could,”“intends,”“target,”“projects,”“contemplates,”“believes,”“estimates,”“predicts,”“potential,” or “continue,” or the negative of these words or other similar terms or expressions that concern our expectations, strategy,plans, or intentions. Forward-looking statements contained in this Quarterly Report on Form 10-Q include, but are not limited to,statements about our future financial and operating performance, our expectations regarding transaction and loan losses, the adequacyof our allowance for loan losses on loans held for investment, or increased delinquencies, and the impact of inaccurate estimates orinadequate reserves, our anticipated growth and growth strategies and our ability to effectively manage that growth, our ability toinvest in and develop our products and services to operate with changing technology, the expected benefits of our products to ourcustomers and the impact of o