Block Q1 FY25: where the revenue came from and where it went
The whole income statement of Block for this quarter, as one diagram: what earned the revenue, and what it went on.
- Period
- Jan 1 – Mar 31, 2025
- Reported
- May 1, 2025
Revenue$5.77B
−3% year over year
Gross profit$2.29B
40% margin
Operating profit$0.33B
6% margin
Net profit$0.19B
3% margin
The numbers
| Item | Value | Share of revenue | Year over year |
|---|---|---|---|
| Revenue | 5.77 | 100% | −3% |
| Cryptocurrency denominated | 2.30 | 40% | −16% |
| Software & data products | 1.89 | 33% | +12% |
| Transaction | 1.55 | 27% | +3% |
| Hardware | 0.03 | 0% | −12% |
| Cost of revenue | −3.48 | 60% | |
| Gross profit | 2.29 | 40% margin | +5pp |
| R&D | −0.76 | 13% | +1pp |
| Sales & marketing | −0.50 | 9% | +1pp |
| G&A | −0.49 | 9% | +1pp |
| Other | −0.20 | 3% | +0pp |
| Operating profit | 0.33 | 6% margin | +2pp |
| Interest & other costs | −0.10 | ||
| Tax | −0.04 | ||
| Net profit | 0.19 | 3% margin | −5pp |
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