Block, Inc.

Company facts

Industry

Services-Prepackaged Software

Headquarters

Oakland, California

Most recent report

10-Q, filed Aug 5, 2026

Incorporated

Delaware

Filings on record

1,000+ filings

On EDGAR

CIK 1512673

Fiscal year ends

December

Filer status

Large accelerated filer

What to read: Jun 2026 10-Q

SECSift found 4 of 13 sections worth reading, with 3 positive, 8 notable, and 8 negative flags.

• Financial Statements (Item 1) Full financial statements with significant company-specific results, accruals, and charges.
  Negative

  • DOJ litigation accrual increased to $526M in Q2 2026 from $240M in Q1 2026, with risk of material excess losses.
  • San Francisco tax dispute aggregate exposure up to $114M; Company paid $71.4M and $42.7M but disputes both.
  • Workforce reduction >40%, with $495M restructuring charge in H1 2026; $350M was in product development.
• Management's Discussion (Item 2) MD&A with detailed segment results, restructuring, and notable expense trends.
  Positive

  • Gross profit $3.2B total (+25%), Cash App $2.0B (+31%), Square $1.2B (+13%) in Q2 2026.
  • Adjusted EBITDA $1.2B up 31% from $891.4M in Q2 2025.
  • Adjusted Operating Income $863.8M up 57% from $549.6M in Q2 2025.
  Notable

  • Workforce reduced >40%; $495M restructuring charges in H1 2026, plan concluded.
  • Settled $1.6B of maturing debt (2026 Senior Notes and 2026 Convertible Notes) in Q2 2026.
  Negative

  • Net income $88.5M down 84% from $538.5M in Q2 2025, hurt by bitcoin loss and loan charges.
  • Operating income $446.9M down 8% from $484.3M in Q2 2025.
  • G&A expenses up 84% driven by $294.9M litigation and regulatory accrual in Q2 2026.
  • Loan losses $434M up 177% in Q2 2026, driven by Cash App Borrow and Afterpay growth.
• Market Risk (Item 3) Bitcoin investment with $88.5M Q2 loss; fair value $533.9M.
  Negative

  • Lost $88.5M in Q2 2026 from bitcoin price remeasurement, plus $261.3M in H1 2026.
• Risk Factors (Item 1A) Many changes from prior period: stablecoins, AI risk expanded, 2026 converts gone, CA tax allowance released.
  Notable

  • Now includes stablecoin features in crypto risk factor, adding new regulatory and operational exposure.
  • AI risk factor greatly expanded: new passages on AI agents, rapid deployment risks, and regulated-advice outputs.
  • Loan products risk factor updated: now explicitly calls loans 'generally unsecured' and names proprietary models.
  • Senior Notes now exclude 2026 series; remaining are 2030, 2031, 2032, 2033 for $5.2B total.
  • Only one convertible note series remains: $575M 2027 Convertible Notes; 2026 series is gone.
  • Partial release of valuation allowance for California deferred tax assets as of June 30, 2026.

What changed: Jun 2026 vs. Mar 2026

About 2% of XYZ's Jun 2026 10-Q is new information. 14 paragraphs were added, 210 changed, and 45 removed. Below are the most important lines SECSift identified.

• Item 1 68
• Item 2 51
• Item 1A 36
• Item 3 1
• Item 5 1
• Item 6 1