Block (XYZ) reported R&D of $1.04B in Q1 2026.

How has Block's R&D changed year-over-year?

Block's R&D increased by 36.6% year-over-year, from $760.7M to $1.04B.

What is the long-term trend for Block's R&D?

Over 4 years (2021 to 2025), Block's R&D has grown at a 20.3% compound annual growth rate (CAGR), from $1.39B to $2.91B.

Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

Block XYZ R&D

R&D at other companies

ShopifySHOP

$437M+15.9%

ToastTOST

$97M+15.5%

Coinbase Global, Inc.COIN

$525.65M+47.9%

Chime Financial, Inc. Class A Common StockCHYM

$109.78M+41.0%

Lesaka Technologies, Inc.LSAK

$125K0.0%

Other financials

Income statement

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Revenue$6.1B+4.9%

Gross profit$2.9B+27.1%

Operating income-$172.0M-152%

Net income-$308.7M-263%

EPS (diluted)-$0.52-273%

Balance sheet

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Cash & equivalents$13.5B+3.1%

Total debt$6.0B+10.9%

Total equity$21.7B+1.1%

Total assets$40.0B+9.9%

Cash flow

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Operating cash flow$965.6M+624%

CapEx$30.6M-4.1%

Free cash flow$935.0M+822%

Valuation

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Market cap$45.23B+17.2%

Enterprise value$37.76B+24.2%

P/E56.1×+43.0×

P/S1.9×+0.2×

Profitability

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Gross margin44.9%+6.9pp

Operating margin4.9%+0.9pp

Net margin3.3%-7.6pp

FCF margin13.3%+8.3pp

Returns & leverage

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Return on equity3.7%-9.2pp

Debt / equity0.3×0.0×

Current ratio2×-0.3×

Where this comes from

Reported directly by Block in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The official record: Block’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Block's R&D?: Block (XYZ) reported R&D of $1.04B in Q1 2026.
How has Block's R&D changed year-over-year?: Block's R&D increased by 36.6% year-over-year, from $760.7M to $1.04B.
What is the long-term trend for Block's R&D?: Over 4 years (2021 to 2025), Block's R&D has grown at a 20.3% compound annual growth rate (CAGR), from $1.39B to $2.91B.
What does R&D mean?: Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.