Block XYZ Square — Less: Cost of revenue

Other segment segments

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Questions, answered.

What is Block's square — less: cost of revenue?

Block (XYZ) reported square — less: cost of revenue of $1.13B in Q1 2026.

How has Block's square — less: cost of revenue changed year-over-year?

Block's square — less: cost of revenue increased by 18.5% year-over-year, from $954.26M to $1.13B.

What is the long-term trend for Block's square — less: cost of revenue?

Over 2 years (2023 to 2025), Block's square — less: cost of revenue has grown at a 7.6% compound annual growth rate (CAGR), from $3.9B to $4.52B.

What does square — less: cost of revenue mean?

This metric captures the direct costs associated with generating revenue within the Square segment, including transaction processing fees paid to card networks and banks, hardware manufacturing costs, and customer support expenses. Monitoring this figure is essential for understanding the direct variable costs required to maintain the merchant ecosystem. It excludes operating expenses like R&D or marketing.