Block Inc
For the period ended Dec 31, 2023. Filed Feb 22, 2024.
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FY2023 · Filed Feb 22, 2024
XYZ$88.56+3.6%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Operations
(In thousands, except per share data)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Revenue: | |||
| Transaction-based revenue | $6,315,301 | $5,701,540 | $4,793,146 |
| Subscription and services-based revenue | 5,944,842 | 4,552,773 | 2,709,731 |
| Hardware revenue | 157,178 | 164,418 | 145,679 |
| Bitcoin revenue | 9,498,302 | 7,112,856 | 10,012,647 |
| Total net revenue | 21,915,623 | 17,531,587 | 17,661,203 |
| Cost of revenue: | |||
| Transaction-based costs | 3,702,016 | 3,364,028 | 2,719,502 |
| Subscription and services-based costs | 1,075,129 | 861,745 | 483,056 |
| Hardware costs | 267,650 | 286,995 | 221,185 |
| Bitcoin costs | 9,293,113 | 6,956,733 | 9,794,992 |
| Amortization of acquired technology assets | 72,829 | 70,194 | 22,645 |
| Total cost of revenue | 14,410,737 | 11,539,695 | 13,241,380 |
| Gross profit | 7,504,886 | 5,991,892 | 4,419,823 |
| Operating expenses: | |||
| Product development | 2,720,819 | 2,135,612 | 1,383,841 |
| Sales and marketing | 2,019,009 | 2,057,951 | 1,617,189 |
| General and administrative | 2,209,190 | 1,686,849 | 982,817 |
| Transaction, loan, and consumer receivable losses | 660,663 | 550,683 | 187,991 |
| Bitcoin impairment losses | — | 46,571 | 71,126 |
| Amortization of customer and other acquired intangible assets | 174,044 | 138,758 | 15,747 |
| Total operating expenses | 7,783,725 | 6,616,424 | 4,258,711 |
| Operating income (loss) | (278,839) | (624,532) | 161,112 |
| Interest expense (income), net | (47,221) | 36,228 | 33,124 |
| Other income, net | (202,475) | (95,443) | (29,474) |
| Income (loss) before income tax | (29,143) | (565,317) | 157,462 |
| Benefit for income taxes | (8,019) | (12,312) | (1,364) |
| Net income (loss) | (21,124) | (553,005) | 158,826 |
| Less: Net loss attributable to noncontrolling interests | (30,896) | (12,258) | (7,458) |
| Net income (loss) attributable to common stockholders | $9,772 | $(540,747) | $166,284 |
| Net income (loss) per share attributable to common stockholders: | |||
| Basic | $0.02 | $(0.93) | $0.36 |
| Diluted | $0.02 | $(0.93) | $0.33 |
| Weighted-average shares used to compute net income (loss) per share attributable to common stockholders: | |||
| Basic | 608,856 | 578,949 | 458,432 |
| Diluted | 614,024 | 578,949 | 501,779 |
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