BLOCK, INC., 10-Q filed on 8/5/2026
Quarterly Report
v3.26.1
Cover Page - shares
shares in Thousands
 6 Months Ended
Jun. 30, 2026
Jul. 31, 2026
Class of Stock [Line Items]    
Document Type 10-Q  
Document Quarterly Report true  
Document Period End Date Jun. 30, 2026  
Document Transition Report false  
Entity File Number 001-37622  
Entity Registrant Name Block, Inc.  
Entity Incorporation, State or Country Code DE  
Entity Tax Identification Number 80-0429876  
Entity Address, Address Line One 1955 Broadway  
Entity Address, Address Line Two Suite 600  
Entity Address, City or Town Oakland  
Entity Address, State or Province CA  
Entity Address, Postal Zip Code 94612  
City Area Code 415  
Local Phone Number 375-3176  
Title of 12(b) Security Class A common stock, $0.0000001 par value per share  
Trading Symbol XYZ  
Security Exchange Name NYSE  
Entity Current Reporting Status Yes  
Entity Interactive Data Current Yes  
Entity Filer Category Large Accelerated Filer  
Entity Small Business false  
Entity Emerging Growth Company false  
Entity Shell Company false  
Entity Central Index Key 0001512673  
Current Fiscal Year End Date --12-31  
Document Fiscal Year Focus 2026  
Document Fiscal Period Focus Q2  
Amendment Flag false  
Class A    
Class of Stock [Line Items]    
Entity Common Stock, Shares Outstanding   540,816
Class B    
Class of Stock [Line Items]    
Entity Common Stock, Shares Outstanding   59,979
v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Current assets:    
Cash and cash equivalents $ 6,427,331 $ 6,564,092
Settlements receivable 1,385,669 1,359,983
Customer funds 5,530,278 4,771,824
Consumer receivables, net 2,477,706 2,670,322
Loans held for investment, net 3,749,254 3,382,957
Other current assets 3,574,637 4,107,702
Total current assets 23,144,875 22,856,880
Goodwill 11,966,996 11,849,018
Acquired intangible assets, net 1,200,262 1,281,670
Deferred tax assets 1,261,584 1,302,776
Bitcoin investment 533,866 777,515
Other non-current assets 1,049,084 1,482,028
Total assets 39,156,667 39,549,887
Current liabilities:    
Customers payable 7,629,062 6,805,366
Accrued expenses and other current liabilities 2,277,051 1,538,893
Current portion of long-term debt (Note 12) 0 1,573,259
Warehouse funding facilities, current 572,388 466,942
Total current liabilities 10,478,501 10,384,460
Warehouse funding facilities, non-current 589,556 897,941
Long-term debt (Note 12) 5,720,569 5,715,759
Other non-current liabilities 356,724 381,845
Total liabilities 17,145,350 17,380,005
Commitments and contingencies (Note 16)
Stockholders’ equity:    
Preferred stock, $0.0000001 par value: 100,000 shares authorized at June 30, 2026 and December 31, 2025. None issued and outstanding at June 30, 2026 and December 31, 2025. 0 0
Additional paid-in capital 18,850,561 18,895,405
Accumulated other comprehensive loss (257,576) (365,381)
Retained earnings 3,454,090 3,674,254
Total stockholders’ equity attributable to common stockholders 22,047,075 22,204,278
Noncontrolling interests (35,758) (34,396)
Total stockholders’ equity 22,011,317 22,169,882
Total liabilities and stockholders’ equity 39,156,667 39,549,887
Class A    
Stockholders’ equity:    
Common stock 0 0
Class B    
Stockholders’ equity:    
Common stock $ 0 $ 0
v3.26.1
CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
shares in Thousands
Jun. 30, 2026
Dec. 31, 2025
Class of Stock [Line Items]    
Preferred stock, par value (in USD per share) $ 0.0000001 $ 0.0000001
Preferred stock, authorized (in shares) 100,000 100,000
Preferred stock, issued (in shares) 0 0
Preferred stock, outstanding (in shares) 0 0
Class A    
Class of Stock [Line Items]    
Common stock, par value (in USD per share) $ 0.0000001 $ 0.0000001
Common stock, authorized (in shares) 1,000,000 1,000,000
Common stock, issued (in shares) 540,782 542,085
Common stock, outstanding (in shares) 540,782 542,085
Class B    
Class of Stock [Line Items]    
Common stock, par value (in USD per share) $ 0.0000001 $ 0.0000001
Common stock, authorized (in shares) 500,000 500,000
Common stock, issued (in shares) 59,981 59,993
Common stock, outstanding (in shares) 59,981 59,993
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Revenue:        
Total $ 6,617,687 $ 6,054,457 $ 12,674,534 $ 11,826,253
Cost of revenue:        
Amortization of acquired technology assets 12,805 14,404 25,622 29,078
Total cost of revenue 3,451,606 3,517,927 6,599,214 7,000,120
Gross profit 3,166,081 2,536,530 6,075,320 4,826,133
Operating expenses:        
Product development 608,660 725,288 1,647,533 1,485,987
Sales and marketing 664,955 549,731 1,315,463 1,054,191
General and administrative 825,869 449,237 1,683,433 941,034
Transaction, loan, and consumer receivable losses 585,450 294,090 1,085,575 463,779
Amortization of customer and other acquired intangible assets 34,277 33,891 68,436 67,547
Total operating expenses 2,719,211 2,052,237 5,800,440 4,012,538
Operating income 446,870 484,293 274,880 813,595
Interest expense, net 55,721 23,687 108,916 40,930
Remeasurement loss (gain) on bitcoin investment 88,474 (212,165) 261,292 (118,814)
Other expense (income), net 1,199 13,389 (4,227) 5,047
Income (loss) before income tax 301,476 659,382 (91,101) 886,432
Provision for income taxes 214,407 121,048 130,425 159,376
Net income (loss) 87,069 538,334 (221,526) 727,056
Less: Net loss attributable to noncontrolling interests (1,448) (124) (1,362) (1,274)
Net income (loss) attributable to common stockholders $ 88,517 $ 538,458 $ (220,164) $ 728,330
Net income (loss) per share attributable to common stockholders:        
Basic (in USD per share) $ 0.15 $ 0.88 $ (0.37) $ 1.18
Diluted (in USD per share) $ 0.15 $ 0.87 $ (0.37) $ 1.17
Weighted-average shares used to compute net income (loss) per share attributable to common stockholders:        
Basic (in shares) 597,829 612,882 597,702 616,108
Diluted (in shares) 608,847 618,928 597,702 627,103
Commerce enablement revenue        
Revenue:        
Total $ 3,341,571 $ 2,898,302 $ 6,280,041 $ 5,465,277
Cost of revenue:        
Cost of revenue 1,523,639 1,354,370 2,841,098 2,506,570
Financial solutions revenue        
Revenue:        
Total 1,382,368 984,553 2,704,353 1,859,564
Cost of revenue:        
Cost of revenue 93,819 82,649 183,194 160,571
Bitcoin ecosystem revenue        
Revenue:        
Total 1,893,748 2,171,602 3,690,140 4,501,412
Cost of revenue:        
Cost of revenue $ 1,821,343 $ 2,066,504 $ 3,549,300 $ 4,303,901
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Statement of Comprehensive Income [Abstract]        
Net income (loss) $ 87,069 $ 538,334 $ (221,526) $ 727,056
Net foreign currency translation adjustments [1] (4,169) 489,973 110,702 619,793
Net unrealized loss on marketable debt securities, net of tax (1,276) (1,071) (2,897) (641)
Total comprehensive income (loss) $ 81,624 $ 1,027,236 $ (113,721) $ 1,346,208
[1]
(i) Includes foreign currency translation gains related to goodwill of $10.8 million and $118.2 million for the three and six months ended June 30, 2026, respectively. The three and six months ended June 30, 2025 includes foreign currency translation gains related to goodwill of $312.4 million and $398.4 million, respectively.
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Parenthetical) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Statement of Comprehensive Income [Abstract]        
Foreign currency translation gain (loss) related to goodwill $ 10.8 $ 312.4 $ 118.2 $ 398.4
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)
shares in Thousands, $ in Thousands
Total
Class A and B common stock
Common stock and additional paid-in capital
Accumulated other comprehensive loss
Retained earnings
Noncontrolling interests
Additional paid-in capital
Beginning balance (in shares) at Dec. 31, 2024   619,676          
Beginning balance at Dec. 31, 2024 $ 21,234,962   $ 19,900,379 $ (1,001,065) $ 2,368,618 $ (32,970)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 188,722       189,872 (1,150)  
Shares issued in connection with employee stock plans (in shares)   4,004          
Shares issued in connection with employee stock plans 2,283   2,283        
Repurchases of common stock (in shares)   (6,805)          
Repurchases of common stock, including excise tax (445,298)   (445,298)        
Change in other comprehensive loss 130,250     130,250      
Share-based compensation 324,155   324,155        
Ending balance (in shares) at Mar. 31, 2025   616,875          
Ending balance at Mar. 31, 2025 21,435,074   19,781,519 (870,815) 2,558,490 (34,120)  
Beginning balance (in shares) at Dec. 31, 2024   619,676          
Beginning balance at Dec. 31, 2024 21,234,962   19,900,379 (1,001,065) 2,368,618 (32,970)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 727,056            
Ending balance (in shares) at Jun. 30, 2025   610,203          
Ending balance at Jun. 30, 2025 22,122,892   19,442,101 (381,913) 3,096,948 (34,244)  
Beginning balance (in shares) at Mar. 31, 2025   616,875          
Beginning balance at Mar. 31, 2025 21,435,074   19,781,519 (870,815) 2,558,490 (34,120)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 538,334       538,458 (124)  
Shares issued in connection with employee stock plans (in shares)   5,791          
Shares issued in connection with employee stock plans 48,799   48,799        
Repurchases of common stock (in shares)   (12,463)          
Repurchases of common stock, including excise tax (692,204)   (692,204)        
Change in other comprehensive loss 488,902     488,902      
Share-based compensation 303,987   303,987        
Ending balance (in shares) at Jun. 30, 2025   610,203          
Ending balance at Jun. 30, 2025 22,122,892   19,442,101 (381,913) 3,096,948 (34,244)  
Beginning balance (in shares) at Dec. 31, 2025   602,078          
Beginning balance at Dec. 31, 2025 22,169,882   18,895,405 (365,381) 3,674,254 (34,396)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) (308,595)       (308,681) 86  
Shares issued in connection with employee stock plans (in shares)   3,893          
Shares issued in connection with employee stock plans 618   618        
Repurchases of common stock (in shares)   (10,700)          
Repurchases of common stock, including excise tax (639,988)   (639,988)        
Change in other comprehensive loss 113,250     113,250      
Share-based compensation 345,861   345,861        
Ending balance (in shares) at Mar. 31, 2026   595,271          
Ending balance at Mar. 31, 2026 21,681,028   18,601,896 (252,131) 3,365,573 (34,310)  
Beginning balance (in shares) at Dec. 31, 2025   602,078          
Beginning balance at Dec. 31, 2025 22,169,882   18,895,405 (365,381) 3,674,254 (34,396)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) (221,526)            
Repurchases of common stock (in shares)   (11,600)          
Repurchases of common stock, including excise tax   $ (700,900)          
Ending balance (in shares) at Jun. 30, 2026   600,763          
Ending balance at Jun. 30, 2026 22,011,317   18,850,561 (257,576) 3,454,090 (35,758)  
Beginning balance (in shares) at Mar. 31, 2026   595,271          
Beginning balance at Mar. 31, 2026 21,681,028   18,601,896 (252,131) 3,365,573 (34,310)  
Increase (Decrease) in Stockholders' Equity [Roll Forward]              
Net income (loss) 87,069       88,517 (1,448)  
Shares issued in connection with employee stock plans (in shares)   6,511          
Shares issued in connection with employee stock plans 49,658   49,658        
Repurchases of common stock (in shares)   (945)          
Repurchases of common stock, including excise tax (61,947)   (61,947)        
Change in other comprehensive loss (5,445)     (5,445)      
Share-based compensation 265,846   265,846        
Tax withholding related to vesting of restricted stock units (in shares)   (74)          
Tax withholding related to vesting of restricted stock units (4,892)           $ (4,892)
Ending balance (in shares) at Jun. 30, 2026   600,763          
Ending balance at Jun. 30, 2026 $ 22,011,317   $ 18,850,561 $ (257,576) $ 3,454,090 $ (35,758)  
v3.26.1
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Cash flows from operating activities:    
Net income (loss) $ (221,526) $ 727,056
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 191,028 181,345
Amortization of discounts and premiums (603,136) (548,138)
Non-cash lease expense and other non-cash adjustments 118,256 29,950
Share-based compensation 598,451 612,577
Loss (gain) on revaluation of equity investments 9,805 (1,456)
Remeasurement loss (gain) on bitcoin investment 261,292 (118,814)
Transaction, loan, and consumer receivable losses 1,085,575 463,779
Change in deferred income taxes 49,545 52,019
Purchases and originations of loans originally classified as held for sale (3,651,413) (10,634,603)
Proceeds from repayments of loans originally classified as held for sale 3,665,214 10,163,789
Changes in operating assets and liabilities:    
Settlements receivable (145,045) (258,566)
Customers payable 41,096 315,632
Prepaid expenses (30,849) (126,309)
Other assets and liabilities 617,123 (350,603)
Net cash provided by operating activities 1,985,416 507,658
Cash flows from investing activities:    
Purchases of marketable debt securities (243,338) (282,149)
Proceeds from maturities of marketable debt securities 370,645 278,624
Proceeds from sale of marketable debt securities 44,352 373,759
Payments for originations of consumer receivables (16,363,722) (14,638,790)
Proceeds from principal repayments and sales of consumer receivables 17,049,383 15,494,483
Purchases and originations of loans originally classified as held for investment (21,877,108) (1,164,089)
Proceeds from repayments of loans originally classified as held for investment 20,773,837 457,152
Purchases of property and equipment (83,786) (63,192)
Other investing activities 323,413 (26,870)
Net cash provided by (used in) investing activities (6,324) 428,928
Cash flows from financing activities:    
Repayments of senior notes (1,000,000) 0
Payments to redeem convertible notes (575,000) (1,000,624)
Proceeds from warehouse facilities borrowings 939,190 435,497
Repayments of warehouse facilities borrowings (1,155,192) (1,242,317)
Proceeds from the exercise of stock options and purchases under the employee stock purchase plan 50,276 51,082
Net increase in interest-bearing deposits 89,990 54,792
Repurchases of common stock (700,935) (1,137,502)
Other financing activities (15,427) (35,330)
Change in customer funds, restricted from use in the Company's operations 758,455 754,942
Net cash used in financing activities (1,608,643) (2,119,460)
Effect of foreign exchange rate on cash and cash equivalents (526) 94,932
Net increase (decrease) in cash, cash equivalents, restricted cash, and customer funds 369,923 (1,087,942)
Cash, cash equivalents, restricted cash, and customer funds, beginning of the period 12,481,276 13,230,512
Cash, cash equivalents, restricted cash, and customer funds, end of the period 12,851,199 12,142,570
Reconciliation of cash, cash equivalents, restricted cash, and customer funds:    
Cash and cash equivalents 6,427,331 6,384,224
Short-term restricted cash 821,679 745,519
Long-term restricted cash 71,911 75,013
Customer funds cash and cash equivalents 5,530,278 4,937,814
Total $ 12,851,199 $ 12,142,570
v3.26.1
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
 6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Business
    
Block, Inc. (together with its subsidiaries, "Block" or the "Company") creates tools that empower businesses, sellers, and individuals to participate in the economy. Block is comprised of two reportable segments, Square and Cash App. Square is a cohesive commerce ecosystem that helps sellers start, run, and grow their businesses, including enabling sellers to accept card payments, providing reporting and analytics, and facilitating next-day settlement. Square’s point-of-sale software and other business services help sellers manage inventory, locations, and employees; access financial solutions; engage buyers; build a website or online store; and grow sales. Cash App is an ecosystem of financial products and services focused on helping consumers make their money go further by enabling customers to store, send, receive, spend, invest, buy now, pay later ("BNPL"), borrow, or save their money. Cash App seeks to redefine the world’s relationship with money by making it more relatable, instantly available, and universally accessible.

Block was founded in 2009 and has offices globally. The Company operates under a distributed work model and does not designate a headquarters location.

Basis of Presentation
    
The accompanying interim condensed consolidated financial statements of the Company are unaudited. These interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP") and the applicable rules and regulations of the United States ("U.S.") Securities and Exchange Commission ("SEC") for interim financial information. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The December 31, 2025 condensed consolidated balance sheet was derived from the audited financial statements as of that date, but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements.

The accompanying unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, reflect all adjustments of a normal recurring nature considered necessary to state fairly the Company's consolidated financial position, results of operations, comprehensive income (loss), and cash flows for the interim periods. The condensed consolidated financial statements include the financial statements of Block and its wholly-owned and majority-owned subsidiaries, including variable interest entities for which the Company is deemed to be the primary beneficiary. All intercompany transactions and balances have been eliminated in consolidation. Minority interests are recorded as a noncontrolling interest, which is reported as a component of stockholders' equity on the condensed consolidated balance sheets. The interim results for the three and six months ended June 30, 2026 are not necessarily indicative of the results that may be expected for the year ending December 31, 2026, or for any other future annual or interim period.

The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Consolidated Financial Statements and related notes in the Company's Annual Report on Form 10-K for the year ended December 31, 2025.

Reclassifications

Certain prior period amounts reported in our condensed consolidated statements of operations and notes thereto have been reclassified to conform to the current year presentation.

The reclassifications in the condensed consolidated statements of operations primarily represent changes to present revenue line items consisting of Commerce enablement, Financial solutions, and Bitcoin ecosystem. The Company believes this updated presentation will improve the usefulness of the financial information for the reader and is more reflective of the business today.
The presentation of cost of revenues has been conformed to reflect the changes related to the presentation of revenues. Such reclassifications related to the presentation of revenues and cost of revenues had no impact on total revenues, gross profit, operating income, or net income previously reported.

Use of Estimates

The preparation of the Company’s condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses, as well as related disclosure of contingent assets and liabilities. Actual results could differ from the Company’s estimates. To the extent that there are material differences between these estimates and actual results, the Company’s financial condition or operating results will be materially affected. The Company bases its estimates on current and past experience, to the extent that historical experience is predictive of future performance and other assumptions that the Company believes are reasonable under the circumstances. The Company evaluates these estimates on an ongoing basis.

Estimates, judgments, and assumptions in these condensed consolidated financial statements include, but are not limited to, those related to accrued transaction losses, contingencies, including outcomes from claims and disputes, valuation of loans held for sale, valuation of goodwill and acquired intangible assets, determination of goodwill and intangible asset impairment charges, determination of allowance for credit losses for loans held for investment, determination of allowance for credit losses for consumer receivables, allocation of acquired goodwill to reporting units, income and other taxes, operating lease right-of-use assets and related liabilities, severance and restructuring charges, and share-based compensation.

The Company's estimates of valuation of loans held for sale, allowance for credit losses associated with consumer receivables and loans held for investment, and accrued transaction losses are based on historical experience, adjusted for market data relevant to the current economic environment. The Company will continue to update its estimates as developments occur and additional information is obtained. Refer to Note 5, Fair Value Measurements for further details on amortized cost over fair value of the loans, Note 6, Consumer Receivables, net for further details on consumer receivables, Note 7, Customer Loans for further details on customer loans, and Note 9, Other Consolidated Balance Sheet Components (Current) for further details on transaction losses.

Concentration of Credit Risk
    
For the three and six months ended June 30, 2026 and June 30, 2025, the Company had no customer that accounted for greater than 10% of total net revenue.

The Company had four third-party payment processors that represented approximately 44%, 14%, 14%, and 11% of settlements receivable as of June 30, 2026. As of December 31, 2025, the Company had four third-party processors that represented approximately 36%, 25%, 11% and 10% of settlements receivable. In both periods, all other third-party payment processors were insignificant. Certain of the Company's products are reliant on third-party service providers such as partner banks, card issuers, and payment service providers. The Company's relationships with third-party service providers may result in operational concentration risks for some of these products.

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash, marketable debt securities, settlements receivable, customer funds, consumer receivables, loans held for sale, and loans held for investment. To mitigate the risk of concentration associated with cash and cash equivalents, as well as restricted cash, funds are held with creditworthy institutions and, at certain times, temporarily swept into insured programs overnight to reduce single firm concentration risk. Amounts on deposit may exceed federal deposit insurance limits. The associated risk of concentration for marketable debt securities is mitigated by holding a diversified portfolio of highly rated investments. Settlements receivable are amounts due from well-established payment processing companies and normally take one or two business days to settle, which mitigates the associated risk of concentration. The associated risk of concentration for loans and consumer receivables is partially mitigated by credit evaluations that are performed prior to facilitating the offering of loans and receivables and ongoing performance monitoring of the Company’s loan customers.
Sales and Marketing Expenses

Advertising costs are expensed as incurred and included in sales and marketing expenses on the condensed consolidated statements of operations. Total advertising costs were $137.3 million and $239.4 million for the three and six months ended June 30, 2026, respectively, compared to $119.0 million and $209.6 million for the three and six months ended June 30, 2025, respectively. The Company also records services, incentives, and other costs to acquire customers that are not directly related to a revenue generating transaction as sales and marketing expenses, as the Company considers these to be marketing costs to encourage the usage of Cash App. These expenses include, but are not limited to, Cash App peer-to-peer processing costs and related transaction losses, overdraft losses, card issuance costs, customer referral bonuses, and promotional giveaways. These costs are generally expensed as incurred. The Company recorded $279.8 million and $576.4 million for the three and six months ended June 30, 2026, respectively, compared to $211.6 million and $415.1 million for the three and six months ended June 30, 2025, respectively, for such expenses.

Recent Accounting Pronouncements

Recently Issued Accounting Pronouncements Not Yet Adopted

In November 2024, the FASB issued ASU No. 2024-03, Disaggregation of Income Statement Expenses ("ASU 2024-03"), and in January 2025, the FASB issued ASU No. 2025-01, Clarifying the Effective Date ("ASU 2025-01"). The amendments are intended to enhance disclosures regarding an entity’s costs and expenses by requiring additional disaggregated information disclosures about certain income statement expense line items. The amendments, as clarified by ASU 2025-01, are effective for fiscal years beginning after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The Company is evaluating the effect of adopting the new disclosure requirements.
v3.26.1
REVENUE
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
REVENUE REVENUE
The following table presents the Company's net revenue disaggregated by revenue source (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Revenue from contracts with customers:
Commerce enablement revenue$2,904,354 $2,574,210 $5,422,060 $4,840,998 
Financial solutions revenue624,200 565,811 1,210,066 1,114,383 
Bitcoin ecosystem revenue1,893,748 2,171,602 3,690,140 4,501,412 
Revenue from other sources: (i)
Commerce enablement revenue437,217 324,092 857,981 624,279 
Financial solutions revenue758,168 418,742 1,494,287 745,181 
Total net revenue$6,617,687 $6,054,457 $12,674,534 $11,826,253 

(i) Revenue from other sources relates to revenue generated from the Company's Square Loans, Cash App Borrow loans, consumer receivables originated through, and affiliate relationship revenue from, our BNPL products, Afterpay Post-Purchase loans, interest income earned on customer funds, and interest income earned on funds held by Square Financial Services, Inc., which is a Utah state-chartered industrial loan company ("Square Financial Services").
v3.26.1
INVESTMENTS IN DEBT SECURITIES
 6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
INVESTMENTS IN DEBT SECURITIES INVESTMENTS IN DEBT SECURITIES
The Company's short-term and long-term investments in debt securities as of June 30, 2026 and December 31, 2025 were as follows (in thousands):
June 30, 2026
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Short-term debt securities:
U.S. agency securities$14,000 $4 $— $14,004 
Corporate bonds93,110 16 (110)93,016 
Commercial paper17,509 — — 17,509 
Certificates of deposit2,072 — — 2,072 
U.S. government securities184,282 133 (171)184,244 
Total$310,973 $153 $(281)$310,845 
Long-term debt securities:
U.S. agency securities$999 $— $(5)$994 
Corporate bonds71,793 8 (244)71,557 
Municipal securities9,904 — (401)9,503 
U.S. government securities144,219 — (832)143,387 
Total$226,915 $8 $(1,482)$225,441 

December 31, 2025
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Short-term debt securities:
U.S. agency securities$19,017 $18 $— $19,035 
Corporate bonds58,954 165 — 59,119 
Commercial paper92,655 — — 92,655 
Municipal securities130 — — 130 
Certificates of deposit2,211 — — 2,211 
U.S. government securities343,923 707 (3)344,627 
Total$516,890 $890 $(3)$517,777 
Long-term debt securities:
Corporate bonds$81,332 $139 $(2)$81,469 
Municipal securities7,167 28 (244)6,951 
U.S. government securities99,981 486 — 100,467 
Total$188,480 $653 $(246)$188,887 

The amortized cost of investments classified as cash equivalents approximated the fair value due to the short-term nature of the investments.
The Company's gross unrealized losses and fair values for those investments that were in an unrealized loss position as of June 30, 2026 and December 31, 2025, aggregated by investment category and the length of time that individual securities have been in a continuous loss position were as follows (in thousands):
June 30, 2026
Less than 12 MonthsGreater than 12 MonthsTotal
Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
Short-term debt securities:
Corporate bonds$75,263 $(110)$— $— $75,263 $(110)
U.S. government securities111,168 (171)— — 111,168 (171)
Total$186,431 $(281)$— $— $186,431 $(281)
Long-term debt securities:
U.S. agency securities$994 $(5)$— $— $994 $(5)
Corporate bonds64,409 (244)— — 64,409 (244)
Municipal securities8,773 (268)730 (133)9,503 (401)
U.S. government securities143,387 (832)— — 143,387 (832)
Total$217,563 $(1,349)$730 $(133)$218,293 $(1,482)

December 31, 2025
Less than 12 MonthsGreater than 12 MonthsTotal
Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
Short-term debt securities:
U.S. agency securities$17 $— $— $— $17 $— 
Corporate bonds3,508 — — — 3,508 — 
U.S. government securities11,998 (3)— — 11,998 (3)
Total$15,523 $(3)$— $— $15,523 $(3)
Long-term debt securities:
Corporate bonds$4,539 $(2)$— $— $4,539 $(2)
Municipal securities3,274 (98)1,235 (146)4,509 (244)
Total$7,813 $(100)$1,235 $(146)$9,048 $(246)

The Company does not intend to sell nor anticipate that it will be required to sell these securities before recovery of the amortized cost basis. Unrealized losses on available-for-sale debt securities were determined not to be related to credit related losses, therefore, an allowance for credit losses was not required.

The contractual maturities of the Company's short-term and long-term investments as of June 30, 2026 were as follows (in thousands):
Amortized CostFair Value
Due in one year or less$310,973 $310,845 
Due after one year to five years217,011 215,938 
Due after five years9,904 9,503 
Total$537,888 $536,286 
CUSTOMER FUNDS
The following table presents the assets underlying customer funds (in thousands):
  June 30, 2026December 31, 2025
Cash$4,343,210 $3,663,727 
Cash equivalents:
Reverse repurchase agreement (i)
1,187,068 1,108,097 
Total customer funds$5,530,278 $4,771,824 

(i) The Company has accounted for the reverse repurchase agreement with a third party as an overnight lending arrangement, collateralized by the securities subject to the repurchase agreement. The Company classifies the amounts due from the counterparty as cash equivalents due to their short term nature.

The amortized cost of investments classified as cash equivalents approximated the fair value due to the short-term nature of the investments.
v3.26.1
CUSTOMER FUNDS
 6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
CUSTOMER FUNDS INVESTMENTS IN DEBT SECURITIES
The Company's short-term and long-term investments in debt securities as of June 30, 2026 and December 31, 2025 were as follows (in thousands):
June 30, 2026
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Short-term debt securities:
U.S. agency securities$14,000 $4 $— $14,004 
Corporate bonds93,110 16 (110)93,016 
Commercial paper17,509 — — 17,509 
Certificates of deposit2,072 — — 2,072 
U.S. government securities184,282 133 (171)184,244 
Total$310,973 $153 $(281)$310,845 
Long-term debt securities:
U.S. agency securities$999 $— $(5)$994 
Corporate bonds71,793 8 (244)71,557 
Municipal securities9,904 — (401)9,503 
U.S. government securities144,219 — (832)143,387 
Total$226,915 $8 $(1,482)$225,441 

December 31, 2025
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Short-term debt securities:
U.S. agency securities$19,017 $18 $— $19,035 
Corporate bonds58,954 165 — 59,119 
Commercial paper92,655 — — 92,655 
Municipal securities130 — — 130 
Certificates of deposit2,211 — — 2,211 
U.S. government securities343,923 707 (3)344,627 
Total$516,890 $890 $(3)$517,777 
Long-term debt securities:
Corporate bonds$81,332 $139 $(2)$81,469 
Municipal securities7,167 28 (244)6,951 
U.S. government securities99,981 486 — 100,467 
Total$188,480 $653 $(246)$188,887 

The amortized cost of investments classified as cash equivalents approximated the fair value due to the short-term nature of the investments.
The Company's gross unrealized losses and fair values for those investments that were in an unrealized loss position as of June 30, 2026 and December 31, 2025, aggregated by investment category and the length of time that individual securities have been in a continuous loss position were as follows (in thousands):
June 30, 2026
Less than 12 MonthsGreater than 12 MonthsTotal
Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
Short-term debt securities:
Corporate bonds$75,263 $(110)$— $— $75,263 $(110)
U.S. government securities111,168 (171)— — 111,168 (171)
Total$186,431 $(281)$— $— $186,431 $(281)
Long-term debt securities:
U.S. agency securities$994 $(5)$— $— $994 $(5)
Corporate bonds64,409 (244)— — 64,409 (244)
Municipal securities8,773 (268)730 (133)9,503 (401)
U.S. government securities143,387 (832)— — 143,387 (832)
Total$217,563 $(1,349)$730 $(133)$218,293 $(1,482)

December 31, 2025
Less than 12 MonthsGreater than 12 MonthsTotal
Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
Short-term debt securities:
U.S. agency securities$17 $— $— $— $17 $— 
Corporate bonds3,508 — — — 3,508 — 
U.S. government securities11,998 (3)— — 11,998 (3)
Total$15,523 $(3)$— $— $15,523 $(3)
Long-term debt securities:
Corporate bonds$4,539 $(2)$— $— $4,539 $(2)
Municipal securities3,274 (98)1,235 (146)4,509 (244)
Total$7,813 $(100)$1,235 $(146)$9,048 $(246)

The Company does not intend to sell nor anticipate that it will be required to sell these securities before recovery of the amortized cost basis. Unrealized losses on available-for-sale debt securities were determined not to be related to credit related losses, therefore, an allowance for credit losses was not required.

The contractual maturities of the Company's short-term and long-term investments as of June 30, 2026 were as follows (in thousands):
Amortized CostFair Value
Due in one year or less$310,973 $310,845 
Due after one year to five years217,011 215,938 
Due after five years9,904 9,503 
Total$537,888 $536,286 
CUSTOMER FUNDS
The following table presents the assets underlying customer funds (in thousands):
  June 30, 2026December 31, 2025
Cash$4,343,210 $3,663,727 
Cash equivalents:
Reverse repurchase agreement (i)
1,187,068 1,108,097 
Total customer funds$5,530,278 $4,771,824 

(i) The Company has accounted for the reverse repurchase agreement with a third party as an overnight lending arrangement, collateralized by the securities subject to the repurchase agreement. The Company classifies the amounts due from the counterparty as cash equivalents due to their short term nature.

The amortized cost of investments classified as cash equivalents approximated the fair value due to the short-term nature of the investments.
v3.26.1
FAIR VALUE MEASUREMENTS
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
The Company measures its cash equivalents, customer funds, short-term and long-term marketable debt securities, marketable equity investments, and bitcoin investment at fair value. The Company classifies these investments within Level 1 or Level 2 of the fair value hierarchy because the Company values these investments using quoted market prices or alternative pricing sources and models utilizing market observable inputs.

The Company’s assets and liabilities that are measured at fair value on a recurring basis were classified as follows (in thousands):
June 30, 2026December 31, 2025
Level 1Level 2Level 3Level 1Level 2Level 3
Cash equivalents:
Money market funds$350,598 $— $— $608,807 $— $— 
U.S. government securities— — — 4,963 — — 
Commercial paper— — — — 64,805 — 
Corporate bonds— 492 — — 276 — 
Restricted cash:
Money market funds278,590 — — 293,514 — — 
Customer funds:
Reverse repurchase agreement1,187,068 — — 1,108,097 — — 
Short-term debt securities:
U.S. government securities184,244 — — 344,627 — — 
Corporate bonds— 93,016 — — 59,119 — 
U.S. agency securities— 14,004 — — 19,035 — 
Certificates of deposit— 2,072 — — 2,211 — 
Commercial paper— 17,509 — — 92,655 — 
Municipal securities— — — — 130 — 
Long-term debt securities:
U.S. government securities143,387 — — 100,467 — — 
Corporate bonds— 71,557 — — 81,469 — 
U.S. agency securities— 994 — — — — 
Municipal securities— 9,503 — — 6,951 — 
Other:
Bitcoin investment533,866 — — 777,515 — — 
Investment in marketable equity securities— — — 5,225 — — 
Total
$2,677,753 $209,147 $— $3,243,215 $326,651 $— 

The carrying amounts of certain financial instruments, including settlements receivable, consumer receivables, accounts payable, customers payable, accrued expenses, and settlements payable, approximate their fair values due to their short-term nature. The carrying amounts of the Company's warehouse funding facilities approximate their fair values.
The Company estimates the fair value of its convertible and senior notes based on their last actively traded prices (Level 1) or market observable inputs (Level 2). The estimated fair value and carrying value of the convertible and senior notes were as follows (in thousands):
June 30, 2026December 31, 2025
Carrying Value Fair Value (Level 2)Carrying ValueFair Value (Level 2)
2026 Senior Notes$— $— $998,827 $993,144 
2030 Senior Notes1,186,913 1,191,269 1,185,533 1,209,528 
2031 Senior Notes993,068 914,357 992,372 932,095 
2032 Senior Notes1,979,158 2,022,343 1,977,734 2,057,081 
2033 Senior Notes988,228 995,244 987,581 1,013,732 
2026 Convertible Notes— — 574,432 566,103 
2027 Convertible Notes573,202 544,255 572,539 530,171 
Total$5,720,569 $5,667,468 $7,289,018 $7,301,854 

The estimated fair value and carrying value of loans held for sale and loans held for investment were as follows (in thousands):
June 30, 2026December 31, 2025
Carrying ValueFair Value (Level 3)Carrying ValueFair Value (Level 3)
Loans held for sale$701,362 $727,013 $782,966 $812,658 
Loans held for investment3,749,254 3,824,260 3,382,957 3,445,631 
Total$4,450,616 $4,551,273 $4,165,923 $4,258,289 

If applicable, the Company will recognize transfers into and out of levels within the fair value hierarchy at the end of the reporting period in which the actual event or change in circumstance occurs. During the three and six months ended June 30, 2026 and June 30, 2025, the Company did not have any transfers in or out of Level 1, Level 2, or Level 3 assets or liabilities.
v3.26.1
CONSUMER RECEIVABLES, NET
 6 Months Ended
Jun. 30, 2026
Receivables [Abstract]  
CONSUMER RECEIVABLES, NET CONSUMER RECEIVABLES, NET
Consumer receivables represent amounts due from consumers for outstanding installment payments on orders processed through the Company's Pay in 4, Advertising and Affiliate, and Afterpay Card BNPL products. Consumer receivables are classified as held for investment. These receivables are typically interest free and are generally due within 14 to 56 days.

The Company classifies consumer receivables as held for sale when the Company has the intent to sell all of its rights, title, and interest in these receivables to third-party investors, and there is an available market for such receivables. For the three and six months ended June 30, 2026, no consumer receivables were reclassified from held for investment to held for sale and sold to third parties. For the three and six months ended June 30, 2025, $210.0 million and $420.0 million of consumer receivables were reclassified from loans held for investment to loans held for sale and sold to third parties, respectively, resulting in immaterial net losses.

The Company closely monitors credit quality for consumer receivables to manage and evaluate its related exposure to credit risk. The criteria the Company monitors when assessing the credit quality and risk of its consumer receivables portfolio is primarily based on internal risk assessments, as they provide insight into customer risk profiles and are useful as indicators of potential future credit losses. Consumer receivables are internally rated as "Pass" or "Classified." Pass rated consumer receivables generally consist of consumer receivables that are current or up to 60 days past due. Classified consumer receivables are generally comprised of consumer receivables that are greater than 60 days past due and have a higher risk of default. Internal risk ratings are reviewed and, generally, updated at least once a year. As of June 30, 2026, the amortized cost of Pass rated consumer receivables was $2.6 billion and the amount of Classified consumer receivables was $151.7 million.
The following table presents an aging analysis of the amortized cost of consumer receivables by delinquency status (in thousands):
  June 30, 2026December 31, 2025
Non-delinquent loans$2,205,036 $2,416,017 
1 - 60 days past due361,913 363,165 
61 - 90 days past due30,604 29,984 
> 90 days past due
121,060 101,021 
Total amortized cost$2,718,613 $2,910,187 

The amount listed as 1 - 60 days past due in the above table includes $255.3 million and $245.4 million of cash in transit as of June 30, 2026 and December 31, 2025, respectively, which reflects ongoing repayments from consumers that have been sent from consumers’ bank accounts but have not yet been received at the Company’s bank account as of the date of the financial statements.

Consumer receivables are charged off when they are over 180 days past due as the Company has no reasonable expectation of recovery. When consumer receivables are charged off, the Company recognizes the charge against the allowance for credit losses. While the Company expects collections at that point to be unlikely, the Company may recover amounts from the respective consumers. Any subsequent recoveries following charge-off are credited to transaction, loan, and consumer receivable losses on the condensed consolidated statements of operations in the period they are recovered. The amount of recoveries for both the three and six months ended June 30, 2026 and June 30, 2025 were immaterial.

The following table summarizes activity in the allowance for credit losses for consumer receivables (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Allowance for credit losses, beginning of the period$236,688 $193,420 $239,865 $201,793 
Provision for credit losses91,051 88,100 167,603 143,750 
Charge-offs and other adjustments(87,519)(75,340)(167,968)(140,976)
Foreign exchange effect 687 5,801 1,407 7,414 
Allowance for credit losses, end of the period$240,907 $211,981 $240,907 $211,981 
CUSTOMER LOANS
Customer loans primarily consist of Square Loans, Cash App Borrow, Afterpay Post-Purchase, and Pay Monthly products. Square Loans are originated by the Company’s wholly-owned subsidiary, Square Financial Services, to qualified Square sellers. The majority of Square Loans are sold to third-party investors with a portion retained on the Company’s balance sheet. Cash App Borrow and Afterpay Post-Purchase are credit products for consumers that allow customers to access short-term loans for a fee. Pay Monthly is a buy now, pay later product that allows consumers to pay for larger transaction sizes over a three-, six-, twelve-, or twenty-four-month period using a monthly payment option. Historically, these loans were originated through a partnership with a third-party industrial bank from whom the Company purchased the loans obtaining all rights, title, and interest, and were classified as held for sale on the Company’s balance sheet. Beginning in the second quarter of 2025, the Company also began originating Cash App Borrow and Afterpay Post-Purchase loans through Square Financial Services, which are retained on the Company’s balance sheet and classified as held for investment. Beginning July 1, 2025, Cash App Borrow loans, Afterpay Post-Purchase loans, Pay Monthly, and certain other customer loan products purchased from the partnership with the third party, along with all customer loan products originated through Square Financial Services, are retained on the Company's balance sheet and classified as held for investment.

The Company classifies customer loans as held for investment when the Company has both the intent and ability to hold them for the foreseeable future, until maturity, or until payoff. Customer loans are classified as held for sale when there is an available market for such loans and it is the Company’s intent to sell all of its rights, title, and interest in these loans to third-party investors. The Company’s intent and ability in the future may change based on changes in the business strategies, the economic environment, and market conditions.
The Company categorizes loans held for investment and loans held for sale by the intended customer of the loan product. Commercial loans primarily include Square Loans; Consumer loans include Cash App Borrow, Afterpay Post-Purchase and Pay Monthly loans; and Other loans include those outside of consumer and commercial loans such as Square credit card.

Loans Held for Investment

Loans held for investment are recorded at amortized cost, less an allowance for potential uncollectible amounts. Amortized cost basis represents principal amounts outstanding, net of unearned income, unamortized deferred fees and costs on originated loans, premiums or discounts on purchased loans, and charge-offs. When loans are charged off, the related accrued interest receivable is recognized as a credit loss expense. The following table presents the Company's loans held for investment by category (in thousands):
June 30, 2026
ConsumerCommercialOtherTotal
Amortized cost basis$3,583,035 $488,860 $258,677 $4,330,572 
Allowance for credit losses(527,709)(32,252)(21,357)(581,318)
Total loans held for investment, net of allowance$3,055,326 $456,608 $237,320 $3,749,254 

December 31, 2025
ConsumerCommercialOtherTotal
Amortized cost basis$3,182,624 $481,757 $101,437 $3,765,818 
Allowance for credit losses(340,117)(33,602)(9,142)(382,861)
Total loans held for investment, net of allowance$2,842,507 $448,155 $92,295 $3,382,957 

The Company considers Square Loans that are 60 days or more past due to be delinquent, and Square Loans 90 days or more past due to be nonperforming. Square Loans that are 120 days or more past due are generally considered to be uncollectible and are written off. When a Square Loan is identified as nonperforming, recognition of income is discontinued. A Square Loan is restored to performing status after total overdue unpaid amounts are repaid and the Company has reasonable assurance that performance under the terms of the loan will continue.

Cash App Borrow, Afterpay Post-Purchase, and Pay Monthly loans that are 1 day or greater past due are considered delinquent. Cash App Borrow and Afterpay Post-Purchase loans that are 90 days or more past due, and Pay Monthly loans that are 180 days past due, are generally considered to be uncollectible and are written off.

The following table presents an aging analysis of the amortized cost of consumer loans held for investment by delinquency status (in thousands):
  June 30, 2026December 31, 2025
Non-delinquent loans$3,082,512 $2,810,925 
1 - 59 days past due
355,382 293,088 
60 - 89 days past due
139,771 78,606 
90+ days past due5,370 5 
Total amortized cost$3,583,035 $3,182,624 

As of June 30, 2026 and December 31, 2025, the amount of Commercial and Other loans that were identified as delinquent and nonperforming was immaterial.
The following table presents the Company's loans held for investment allowance for credit losses by category (in thousands):
Three Months Ended
June 30, 2026
ConsumerCommercialOtherTotal
Beginning balance of the allowance for credit losses$435,018 $32,062 $15,722 $482,802 
Current period provisions for expected credit losses400,800 11,481 8,007 420,288 
Write-offs charged against the allowance(331,868)(14,943)(2,372)(349,183)
Recoveries of amounts previously written off23,759 3,652 — 27,411 
Ending balance of the allowance for credit losses$527,709 $32,252 $21,357 $581,318 

Six Months Ended
June 30, 2026
ConsumerCommercialOtherTotal
Beginning balance of the allowance for credit losses$340,117 $33,602 $9,142 $382,861 
Current period provisions for expected credit losses734,629 21,874 14,591 771,094 
Write-offs charged against the allowance(595,774)(29,354)(2,376)(627,504)
Recoveries of amounts previously written off48,737 6,130 — 54,867 
Ending balance of the allowance for credit losses$527,709 $32,252 $21,357 $581,318 

The allowance for credit losses, amount of charge-offs recorded, and amount of recoveries for the three and six months ended June 30, 2025 were immaterial.

The Company closely monitors economic conditions and loan performance trends to assess and manage its exposure to credit risk. The criteria the Company monitors when assessing the credit quality and risk of its loan portfolio is primarily based on internal risk ratings, as they provide insight into borrower risk profiles and are useful as indicators of potential future credit losses. Loans are internally rated as "Pass" or "Classified." Pass rated Square Loans generally consist of loans that are current or up to 59 days past due. Classified Square Loans generally comprise of loans that are 60 days or more past due and have a higher risk of default. Pass rated Cash App Borrow, Afterpay Post-Purchase, and Pay Monthly loans generally consist of loans that are current. Classified Cash App Borrow, Afterpay Post-Purchase, and Pay Monthly loans are comprised of loans that are 1 day or greater past due, due to their short-term nature and repayment period, and have a higher risk of default. Internal risk ratings are reviewed and, generally, updated at least annually. As of June 30, 2026 and December 31, 2025, the amortized cost of Pass rated loans was $3.8 billion and $3.4 billion, respectively. As of June 30, 2026 and December 31, 2025, the amount of Classified loans was $509.5 million and $381.0 million, respectively.

Loans Held for Sale

The following table presents the Company’s loans held for sale by category (in thousands):
  June 30, 2026December 31, 2025
Commercial$676,750 $708,512 
Consumer15,145 40,735 
Other 9,467 33,719 
Total $701,362 $782,966 

Loans held for sale are recorded at the lower of amortized cost or fair value. Square Loans that are 120 days or more past due and Cash App Borrow loans that are 90 days or more past due are generally considered to be uncollectible and are written off. Past due status is based on contractual terms of the loans.
For the three and six months ended June 30, 2026, $1.2 billion and $2.5 billion of Square Loans were sold to third-party investors, respectively, and the Company recognized net gains on the sales of loans of $69.1 million and $141.2 million, respectively. For the three and six months ended June 30, 2025, $1.1 billion and $2.2 billion of Square Loans were sold to third-party investors, respectively, and the Company recognized net gains on sales of loans of $62.3 million and $127.7 million, respectively. The net gains on sales of loans are recognized in net income (loss) through “Financial solutions revenue” in the Company’s condensed consolidated statements of operations.
v3.26.1
CUSTOMER LOANS
 6 Months Ended
Jun. 30, 2026
Receivables [Abstract]  
CUSTOMER LOANS CONSUMER RECEIVABLES, NET
Consumer receivables represent amounts due from consumers for outstanding installment payments on orders processed through the Company's Pay in 4, Advertising and Affiliate, and Afterpay Card BNPL products. Consumer receivables are classified as held for investment. These receivables are typically interest free and are generally due within 14 to 56 days.

The Company classifies consumer receivables as held for sale when the Company has the intent to sell all of its rights, title, and interest in these receivables to third-party investors, and there is an available market for such receivables. For the three and six months ended June 30, 2026, no consumer receivables were reclassified from held for investment to held for sale and sold to third parties. For the three and six months ended June 30, 2025, $210.0 million and $420.0 million of consumer receivables were reclassified from loans held for investment to loans held for sale and sold to third parties, respectively, resulting in immaterial net losses.

The Company closely monitors credit quality for consumer receivables to manage and evaluate its related exposure to credit risk. The criteria the Company monitors when assessing the credit quality and risk of its consumer receivables portfolio is primarily based on internal risk assessments, as they provide insight into customer risk profiles and are useful as indicators of potential future credit losses. Consumer receivables are internally rated as "Pass" or "Classified." Pass rated consumer receivables generally consist of consumer receivables that are current or up to 60 days past due. Classified consumer receivables are generally comprised of consumer receivables that are greater than 60 days past due and have a higher risk of default. Internal risk ratings are reviewed and, generally, updated at least once a year. As of June 30, 2026, the amortized cost of Pass rated consumer receivables was $2.6 billion and the amount of Classified consumer receivables was $151.7 million.
The following table presents an aging analysis of the amortized cost of consumer receivables by delinquency status (in thousands):
  June 30, 2026December 31, 2025
Non-delinquent loans$2,205,036 $2,416,017 
1 - 60 days past due361,913 363,165 
61 - 90 days past due30,604 29,984 
> 90 days past due
121,060 101,021 
Total amortized cost$2,718,613 $2,910,187 

The amount listed as 1 - 60 days past due in the above table includes $255.3 million and $245.4 million of cash in transit as of June 30, 2026 and December 31, 2025, respectively, which reflects ongoing repayments from consumers that have been sent from consumers’ bank accounts but have not yet been received at the Company’s bank account as of the date of the financial statements.

Consumer receivables are charged off when they are over 180 days past due as the Company has no reasonable expectation of recovery. When consumer receivables are charged off, the Company recognizes the charge against the allowance for credit losses. While the Company expects collections at that point to be unlikely, the Company may recover amounts from the respective consumers. Any subsequent recoveries following charge-off are credited to transaction, loan, and consumer receivable losses on the condensed consolidated statements of operations in the period they are recovered. The amount of recoveries for both the three and six months ended June 30, 2026 and June 30, 2025 were immaterial.

The following table summarizes activity in the allowance for credit losses for consumer receivables (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Allowance for credit losses, beginning of the period$236,688 $193,420 $239,865 $201,793 
Provision for credit losses91,051 88,100 167,603 143,750 
Charge-offs and other adjustments(87,519)(75,340)(167,968)(140,976)
Foreign exchange effect 687 5,801 1,407 7,414 
Allowance for credit losses, end of the period$240,907 $211,981 $240,907 $211,981 
CUSTOMER LOANS
Customer loans primarily consist of Square Loans, Cash App Borrow, Afterpay Post-Purchase, and Pay Monthly products. Square Loans are originated by the Company’s wholly-owned subsidiary, Square Financial Services, to qualified Square sellers. The majority of Square Loans are sold to third-party investors with a portion retained on the Company’s balance sheet. Cash App Borrow and Afterpay Post-Purchase are credit products for consumers that allow customers to access short-term loans for a fee. Pay Monthly is a buy now, pay later product that allows consumers to pay for larger transaction sizes over a three-, six-, twelve-, or twenty-four-month period using a monthly payment option. Historically, these loans were originated through a partnership with a third-party industrial bank from whom the Company purchased the loans obtaining all rights, title, and interest, and were classified as held for sale on the Company’s balance sheet. Beginning in the second quarter of 2025, the Company also began originating Cash App Borrow and Afterpay Post-Purchase loans through Square Financial Services, which are retained on the Company’s balance sheet and classified as held for investment. Beginning July 1, 2025, Cash App Borrow loans, Afterpay Post-Purchase loans, Pay Monthly, and certain other customer loan products purchased from the partnership with the third party, along with all customer loan products originated through Square Financial Services, are retained on the Company's balance sheet and classified as held for investment.

The Company classifies customer loans as held for investment when the Company has both the intent and ability to hold them for the foreseeable future, until maturity, or until payoff. Customer loans are classified as held for sale when there is an available market for such loans and it is the Company’s intent to sell all of its rights, title, and interest in these loans to third-party investors. The Company’s intent and ability in the future may change based on changes in the business strategies, the economic environment, and market conditions.
The Company categorizes loans held for investment and loans held for sale by the intended customer of the loan product. Commercial loans primarily include Square Loans; Consumer loans include Cash App Borrow, Afterpay Post-Purchase and Pay Monthly loans; and Other loans include those outside of consumer and commercial loans such as Square credit card.

Loans Held for Investment

Loans held for investment are recorded at amortized cost, less an allowance for potential uncollectible amounts. Amortized cost basis represents principal amounts outstanding, net of unearned income, unamortized deferred fees and costs on originated loans, premiums or discounts on purchased loans, and charge-offs. When loans are charged off, the related accrued interest receivable is recognized as a credit loss expense. The following table presents the Company's loans held for investment by category (in thousands):
June 30, 2026
ConsumerCommercialOtherTotal
Amortized cost basis$3,583,035 $488,860 $258,677 $4,330,572 
Allowance for credit losses(527,709)(32,252)(21,357)(581,318)
Total loans held for investment, net of allowance$3,055,326 $456,608 $237,320 $3,749,254 

December 31, 2025
ConsumerCommercialOtherTotal
Amortized cost basis$3,182,624 $481,757 $101,437 $3,765,818 
Allowance for credit losses(340,117)(33,602)(9,142)(382,861)
Total loans held for investment, net of allowance$2,842,507 $448,155 $92,295 $3,382,957 

The Company considers Square Loans that are 60 days or more past due to be delinquent, and Square Loans 90 days or more past due to be nonperforming. Square Loans that are 120 days or more past due are generally considered to be uncollectible and are written off. When a Square Loan is identified as nonperforming, recognition of income is discontinued. A Square Loan is restored to performing status after total overdue unpaid amounts are repaid and the Company has reasonable assurance that performance under the terms of the loan will continue.

Cash App Borrow, Afterpay Post-Purchase, and Pay Monthly loans that are 1 day or greater past due are considered delinquent. Cash App Borrow and Afterpay Post-Purchase loans that are 90 days or more past due, and Pay Monthly loans that are 180 days past due, are generally considered to be uncollectible and are written off.

The following table presents an aging analysis of the amortized cost of consumer loans held for investment by delinquency status (in thousands):
  June 30, 2026December 31, 2025
Non-delinquent loans$3,082,512 $2,810,925 
1 - 59 days past due
355,382 293,088 
60 - 89 days past due
139,771 78,606 
90+ days past due5,370 5 
Total amortized cost$3,583,035 $3,182,624 

As of June 30, 2026 and December 31, 2025, the amount of Commercial and Other loans that were identified as delinquent and nonperforming was immaterial.
The following table presents the Company's loans held for investment allowance for credit losses by category (in thousands):
Three Months Ended
June 30, 2026
ConsumerCommercialOtherTotal
Beginning balance of the allowance for credit losses$435,018 $32,062 $15,722 $482,802 
Current period provisions for expected credit losses400,800 11,481 8,007 420,288 
Write-offs charged against the allowance(331,868)(14,943)(2,372)(349,183)
Recoveries of amounts previously written off23,759 3,652 — 27,411 
Ending balance of the allowance for credit losses$527,709 $32,252 $21,357 $581,318 

Six Months Ended
June 30, 2026
ConsumerCommercialOtherTotal
Beginning balance of the allowance for credit losses$340,117 $33,602 $9,142 $382,861 
Current period provisions for expected credit losses734,629 21,874 14,591 771,094 
Write-offs charged against the allowance(595,774)(29,354)(2,376)(627,504)
Recoveries of amounts previously written off48,737 6,130 — 54,867 
Ending balance of the allowance for credit losses$527,709 $32,252 $21,357 $581,318 

The allowance for credit losses, amount of charge-offs recorded, and amount of recoveries for the three and six months ended June 30, 2025 were immaterial.

The Company closely monitors economic conditions and loan performance trends to assess and manage its exposure to credit risk. The criteria the Company monitors when assessing the credit quality and risk of its loan portfolio is primarily based on internal risk ratings, as they provide insight into borrower risk profiles and are useful as indicators of potential future credit losses. Loans are internally rated as "Pass" or "Classified." Pass rated Square Loans generally consist of loans that are current or up to 59 days past due. Classified Square Loans generally comprise of loans that are 60 days or more past due and have a higher risk of default. Pass rated Cash App Borrow, Afterpay Post-Purchase, and Pay Monthly loans generally consist of loans that are current. Classified Cash App Borrow, Afterpay Post-Purchase, and Pay Monthly loans are comprised of loans that are 1 day or greater past due, due to their short-term nature and repayment period, and have a higher risk of default. Internal risk ratings are reviewed and, generally, updated at least annually. As of June 30, 2026 and December 31, 2025, the amortized cost of Pass rated loans was $3.8 billion and $3.4 billion, respectively. As of June 30, 2026 and December 31, 2025, the amount of Classified loans was $509.5 million and $381.0 million, respectively.

Loans Held for Sale

The following table presents the Company’s loans held for sale by category (in thousands):
  June 30, 2026December 31, 2025
Commercial$676,750 $708,512 
Consumer15,145 40,735 
Other 9,467 33,719 
Total $701,362 $782,966 

Loans held for sale are recorded at the lower of amortized cost or fair value. Square Loans that are 120 days or more past due and Cash App Borrow loans that are 90 days or more past due are generally considered to be uncollectible and are written off. Past due status is based on contractual terms of the loans.
For the three and six months ended June 30, 2026, $1.2 billion and $2.5 billion of Square Loans were sold to third-party investors, respectively, and the Company recognized net gains on the sales of loans of $69.1 million and $141.2 million, respectively. For the three and six months ended June 30, 2025, $1.1 billion and $2.2 billion of Square Loans were sold to third-party investors, respectively, and the Company recognized net gains on sales of loans of $62.3 million and $127.7 million, respectively. The net gains on sales of loans are recognized in net income (loss) through “Financial solutions revenue” in the Company’s condensed consolidated statements of operations.
v3.26.1
ACQUIRED INTANGIBLE ASSETS
 6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
ACQUIRED INTANGIBLE ASSETS ACQUIRED INTANGIBLE ASSETS
The following table details acquired intangible assets (in thousands):
Balance at June 30, 2026
Weighted Average Estimated Useful LifeCostAccumulated AmortizationNet
Technology assets5 years$359,008 $(323,582)$35,426 
Customer assets15 years1,418,425 (442,944)975,481 
Trade names and other9 years389,137 (199,782)189,355 
Total$2,166,570 $(966,308)$1,200,262 

Balance at December 31, 2025
Weighted Average Estimated Useful LifeCostAccumulated AmortizationNet
Technology assets5 years$359,008 $(297,960)$61,048 
Customer assets15 years1,401,701 (391,100)1,010,601 
Trade names and other9 years389,137 (179,116)210,021 
Total$2,149,846 $(868,176)$1,281,670 

All intangible assets are amortized over their estimated useful lives.

The change in the carrying value of intangible assets was as follows (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Acquired intangible assets, net, beginning of the period$1,245,784 $1,391,242 $1,281,670 $1,433,067 
Amortization expense(47,082)(48,295)(94,058)(96,625)
Foreign currency translation and other adjustments1,560 25,788 12,650 32,293 
Acquired intangible assets, net, end of the period$1,200,262 $1,368,735 $1,200,262 $1,368,735 

The estimated future amortization expense of intangible assets as of June 30, 2026 was as follows (in thousands):
Remainder of 2026$91,907 
2027142,108 
2028138,320 
2029137,690 
2030134,290 
Thereafter555,947 
Total$1,200,262 
v3.26.1
OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT)
 6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT)
Other Current Assets

The following table presents the detail of other current assets (in thousands):
  June 30, 2026December 31, 2025
Restricted cash (i)
$821,679 $1,071,574 
Loans held for sale (ii)
701,362 782,966 
Processing costs receivable484,328 448,406 
Prepaid expenses319,556 288,707 
Investments in short-term debt securities310,845 517,777 
Inventory, net198,861 158,319 
Accounts receivable, net194,432 238,207 
Other (iii)
543,574 601,746 
Total$3,574,637 $4,107,702 

(i) Includes a portion invested in money market funds. Refer to Note 5, Fair Value Measurements for further details.

(ii) Refer to Note 7, Customer Loans for further details.

(iii) In June 2026, the Company received cash proceeds of $329.8 million from the sale of a non-marketable equity security, which are included within "Other investing activities" on the condensed consolidated statements of cash flows for the three and six months ended June 30, 2026.

The following table presents the detail of inventory, net (in thousands):
  June 30, 2026December 31, 2025
Raw materials
$17,917 $16,054 
Work in process55,421 46,791 
Finished goods125,523 95,474 
Total inventory, net$198,861 $158,319 
Accrued Expenses and Other Current Liabilities

The following table presents the detail of accrued expenses and other current liabilities (in thousands):    
  June 30, 2026December 31, 2025
Accrued legal contingencies$674,575 $172,959 
Accrued expenses563,557 389,278 
Customer deposits387,423 297,432 
Accounts payable122,354 114,572 
Processing fee payable116,292 106,815 
Operating lease liabilities, current61,081 55,349 
Accrued transaction losses (i)
59,761 49,250 
Accrued royalties55,911 51,596 
Other236,097 301,642 
Total$2,277,051 $1,538,893 

(i) The Company is exposed to potential credit losses related to transactions processed by sellers that are subsequently subject to chargebacks when the Company is unable to collect from the sellers primarily due to insolvency. Generally, the Company estimates the potential loss rates based on historical experience that is continuously adjusted for new information and incorporates, where applicable, reasonable and supportable forecasts about future expectations.

The following table summarizes the activities of the Company’s reserve for transaction losses (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Accrued transaction losses, beginning of the period$59,051 $57,137 $49,250 $58,580 
Provision for transaction losses (i)
25,976 32,071 60,077 61,479 
Charge-offs to accrued transaction losses(25,266)(34,826)(49,566)(65,677)
Accrued transaction losses, end of the period$59,761 $54,382 $59,761 $54,382 

(i) Estimated losses related to Cash App overdrafts are classified within sales and marketing expenses and are accounted for separately from the provision for transaction losses. Such losses were immaterial for the three and six months ended June 30, 2026.
In addition to amounts reflected in the table above, the Company recognized additional provisions for transaction losses that were realized and written-off within the same period. Such losses are primarily related to Cash App transactions, such as peer-to-peer transactions, overdrafts, and negative balances, that are uncertain in nature. The Company recorded $91.2 million and $172.5 million for the three and six months ended June 30, 2026, respectively, and $62.0 million and $121.0 million for the three and six months ended June 30, 2025, respectively, for such losses. Losses from peer-to-peer activity and overdrafts are classified within sales and marketing expenses, while other transaction losses, including negative balances, are presented within transaction, loan, and consumer receivable losses on the condensed consolidated statements of operations.OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT)
Other Non-Current Assets

The following table presents the detail of other non-current assets (in thousands):
  June 30, 2026December 31, 2025
Property and equipment, net$293,315 $323,375 
Investments in long-term debt securities225,441 188,887 
Operating lease right-of-use assets134,952 214,929 
Investment in non-marketable equity securities (i)
103,366 423,198 
Restricted cash71,911 73,786 
Other220,099 257,853 
Total$1,049,084 $1,482,028 

(i) Investment in non-marketable equity securities represents the Company's investments in equity of non-public entities. These investments are measured using the measurement alternative and are therefore carried at cost, less impairment, adjusted for observable price changes from orderly transactions for identical or similar investments of the same issuer. Adjustments are recorded within other expense (income), net on the condensed consolidated statements of operations.

The adjustments to the carrying value of the Company's non-current non-marketable equity securities measured using the measurement alternative were as follows (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Carrying amount, beginning of period$88,112 $243,058 $423,198 $245,557 
Net additions (reductions) (i)
15,254 3,500 (314,544)1,001 
Gross unrealized losses and impairments— — (5,288)— 
Carrying amount, end of period$103,366 $246,558 $103,366 $246,558 

(i) Net reductions for the six months ended June 30, 2026 relates to a reclassification from non-current to current assets.

The following table summarizes the cumulative net unrealized upward and downward adjustments related to the Company's non-current non-marketable equity securities measured using the measurement alternative (in thousands):
  June 30, 2026December 31, 2025
Upward adjustments$6,155 $326,970 
Downward adjustments and impairments$(7,349)$(2,061)

Other Non-Current Liabilities

The following table presents the detail of other non-current liabilities (in thousands):
  June 30, 2026December 31, 2025
Operating lease liabilities, non-current$227,718 $257,126 
Deferred tax liabilities9,526 1,173 
Other119,480 123,546 
Total$356,724 $381,845 
v3.26.1
OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT)
 6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT) OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT)
Other Current Assets

The following table presents the detail of other current assets (in thousands):
  June 30, 2026December 31, 2025
Restricted cash (i)
$821,679 $1,071,574 
Loans held for sale (ii)
701,362 782,966 
Processing costs receivable484,328 448,406 
Prepaid expenses319,556 288,707 
Investments in short-term debt securities310,845 517,777 
Inventory, net198,861 158,319 
Accounts receivable, net194,432 238,207 
Other (iii)
543,574 601,746 
Total$3,574,637 $4,107,702 

(i) Includes a portion invested in money market funds. Refer to Note 5, Fair Value Measurements for further details.

(ii) Refer to Note 7, Customer Loans for further details.

(iii) In June 2026, the Company received cash proceeds of $329.8 million from the sale of a non-marketable equity security, which are included within "Other investing activities" on the condensed consolidated statements of cash flows for the three and six months ended June 30, 2026.

The following table presents the detail of inventory, net (in thousands):
  June 30, 2026December 31, 2025
Raw materials
$17,917 $16,054 
Work in process55,421 46,791 
Finished goods125,523 95,474 
Total inventory, net$198,861 $158,319 
Accrued Expenses and Other Current Liabilities

The following table presents the detail of accrued expenses and other current liabilities (in thousands):    
  June 30, 2026December 31, 2025
Accrued legal contingencies$674,575 $172,959 
Accrued expenses563,557 389,278 
Customer deposits387,423 297,432 
Accounts payable122,354 114,572 
Processing fee payable116,292 106,815 
Operating lease liabilities, current61,081 55,349 
Accrued transaction losses (i)
59,761 49,250 
Accrued royalties55,911 51,596 
Other236,097 301,642 
Total$2,277,051 $1,538,893 

(i) The Company is exposed to potential credit losses related to transactions processed by sellers that are subsequently subject to chargebacks when the Company is unable to collect from the sellers primarily due to insolvency. Generally, the Company estimates the potential loss rates based on historical experience that is continuously adjusted for new information and incorporates, where applicable, reasonable and supportable forecasts about future expectations.

The following table summarizes the activities of the Company’s reserve for transaction losses (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Accrued transaction losses, beginning of the period$59,051 $57,137 $49,250 $58,580 
Provision for transaction losses (i)
25,976 32,071 60,077 61,479 
Charge-offs to accrued transaction losses(25,266)(34,826)(49,566)(65,677)
Accrued transaction losses, end of the period$59,761 $54,382 $59,761 $54,382 

(i) Estimated losses related to Cash App overdrafts are classified within sales and marketing expenses and are accounted for separately from the provision for transaction losses. Such losses were immaterial for the three and six months ended June 30, 2026.
In addition to amounts reflected in the table above, the Company recognized additional provisions for transaction losses that were realized and written-off within the same period. Such losses are primarily related to Cash App transactions, such as peer-to-peer transactions, overdrafts, and negative balances, that are uncertain in nature. The Company recorded $91.2 million and $172.5 million for the three and six months ended June 30, 2026, respectively, and $62.0 million and $121.0 million for the three and six months ended June 30, 2025, respectively, for such losses. Losses from peer-to-peer activity and overdrafts are classified within sales and marketing expenses, while other transaction losses, including negative balances, are presented within transaction, loan, and consumer receivable losses on the condensed consolidated statements of operations.OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT)
Other Non-Current Assets

The following table presents the detail of other non-current assets (in thousands):
  June 30, 2026December 31, 2025
Property and equipment, net$293,315 $323,375 
Investments in long-term debt securities225,441 188,887 
Operating lease right-of-use assets134,952 214,929 
Investment in non-marketable equity securities (i)
103,366 423,198 
Restricted cash71,911 73,786 
Other220,099 257,853 
Total$1,049,084 $1,482,028 

(i) Investment in non-marketable equity securities represents the Company's investments in equity of non-public entities. These investments are measured using the measurement alternative and are therefore carried at cost, less impairment, adjusted for observable price changes from orderly transactions for identical or similar investments of the same issuer. Adjustments are recorded within other expense (income), net on the condensed consolidated statements of operations.

The adjustments to the carrying value of the Company's non-current non-marketable equity securities measured using the measurement alternative were as follows (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Carrying amount, beginning of period$88,112 $243,058 $423,198 $245,557 
Net additions (reductions) (i)
15,254 3,500 (314,544)1,001 
Gross unrealized losses and impairments— — (5,288)— 
Carrying amount, end of period$103,366 $246,558 $103,366 $246,558 

(i) Net reductions for the six months ended June 30, 2026 relates to a reclassification from non-current to current assets.

The following table summarizes the cumulative net unrealized upward and downward adjustments related to the Company's non-current non-marketable equity securities measured using the measurement alternative (in thousands):
  June 30, 2026December 31, 2025
Upward adjustments$6,155 $326,970 
Downward adjustments and impairments$(7,349)$(2,061)

Other Non-Current Liabilities

The following table presents the detail of other non-current liabilities (in thousands):
  June 30, 2026December 31, 2025
Operating lease liabilities, non-current$227,718 $257,126 
Deferred tax liabilities9,526 1,173 
Other119,480 123,546 
Total$356,724 $381,845 
v3.26.1
BITCOIN
 6 Months Ended
Jun. 30, 2026
Other Liabilities Disclosure [Abstract]  
BITCOIN BITCOIN
A) Company Owned Bitcoin

The Company holds bitcoin for long-term investment purposes ("bitcoin investment") and also holds bitcoin for the facilitation of customer sales and purchases of bitcoin on Cash App ("bitcoin for operating purposes"). The Company accounts for its bitcoin as an indefinite-lived intangible asset in accordance with Accounting Standards Codification ("ASC") 350, Intangibles—Goodwill and Other and has ownership of and control over its bitcoin.

The Company's bitcoin investment is initially recorded at cost, inclusive of transaction costs, and remeasured at fair value at the end of each reporting period. Changes in fair value are recognized in net income (loss) through “Remeasurement loss (gain) on bitcoin investment” on the Company’s condensed consolidated statements of operations. As of June 30, 2026 and December 31, 2025, the Company held approximately 9,117 and 8,883 bitcoins for investment purposes with a cost basis of $310.2 million and $292.6 million, respectively.

The following table summarizes the changes in the Company’s bitcoin investment (in thousands, except amount of bitcoin):
Amount of bitcoin
Value
Balance at December 31, 20258,883 $777,515 
Additions (i)
149 12,593 
Remeasurement loss— (172,818)
Balance at March 31, 20269,032 $617,290 
Additions (i)
85 5,050 
Remeasurement loss— (88,474)
Balance at June 30, 20269,117 $533,866 

Amount of bitcoin
Value
Balance at December 31, 20248,485 $792,282 
Additions (i)
99 9,519 
Remeasurement loss— (93,351)
Balance at March 31, 20258,584 $708,450 
Additions (i)
108 11,041 
Remeasurement gain— 212,165 
Balance at June 30, 20258,692 $931,656 

(i) Additions primarily represent the Company's purchases of bitcoin for investment purposes.

The Company’s bitcoin for operating purposes is initially recorded at cost, inclusive of transaction costs. Subsequent to purchase, any sales related to bitcoin occur at its current market price, plus a small margin. As such, any change in fair value of bitcoin purchased and sold for customer orders is captured within bitcoin ecosystem revenue. Given the small amount of bitcoin for operating purposes held at any time, and that the bitcoin is held for a relatively short period of time, typically being purchased and sold within a day, the changes in fair value are not material to the Company. As of June 30, 2026 and December 31, 2025, the Company held approximately 299 and 238 bitcoins for operating purposes with a fair value of $19.5 million and $20.0 million, respectively, to facilitate the purchases and sales of bitcoin on behalf of Cash App customers. The bitcoin for operating purposes is reflected on the condensed consolidated balance sheets within “Other current assets.”
B) Bitcoin Held for Other Parties

The Company allows its Cash App customers to store their bitcoin in the Company’s digital wallets free of charge. The Company also holds an immaterial amount of bitcoin from select trading partners to facilitate bitcoin transactions for customers on Cash App. Other than bitcoin, the Company does not hold or store any other types of crypto-assets for customers or trading partners. The Company holds the cryptographic key information and maintains the internal recordkeeping of the bitcoin held for other parties. The Company's contractual arrangements state that its customers and trading partners retain legal ownership of the bitcoin; have the right to sell, pledge, or transfer the bitcoin; and also benefit from the rewards and bear the risks associated with the ownership, including as a result of any bitcoin price fluctuations. The customer also bears the risk of loss as a result of fraud or theft, unless the loss was caused by the Company’s gross negligence or the Company’s willful misconduct. The Company does not use any of the bitcoin custodied for customers or trading partners as collateral for any of the Company’s loans or other financing arrangements; nor does it lend or pledge bitcoin held for others to any third parties. The Company occasionally engages third-party custodians to store and safeguard bitcoin on the Company's behalf. The Company has concluded, under ASC 450-20, Loss Contingencies, that it does not have a probable loss that would require it to recognize a custodial obligation as of June 30, 2026.
v3.26.1
INDEBTEDNESS
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
INDEBTEDNESS INDEBTEDNESS
A) Notes

The 2027 Convertible Notes (as defined below), together with the Company's senior notes set forth in the tables below ("Senior Notes"), are collectively referred to as the “Notes.”

The following tables summarize the Company's Notes as of June 30, 2026 and December 31, 2025 (in thousands):
June 30, 2026
Principal OutstandingUnamortized Debt Issuance CostsNet Carrying Value
2030 Senior Notes$1,200,000 $(13,087)$1,186,913 
2031 Senior Notes1,000,000 (6,932)993,068 
2032 Senior Notes2,000,000 (20,842)1,979,158 
2033 Senior Notes1,000,000 (11,772)988,228 
2027 Convertible Notes575,000 (1,798)573,202 
Total$5,775,000 $(54,431)$5,720,569 

December 31, 2025
Principal OutstandingUnamortized Debt Issuance CostsNet Carrying Value
2026 Senior Notes (i)
$1,000,000 $(1,173)$998,827 
2030 Senior Notes1,200,000 (14,467)1,185,533 
2031 Senior Notes1,000,000 (7,628)992,372 
2032 Senior Notes2,000,000 (22,266)1,977,734 
2033 Senior Notes1,000,000 (12,419)987,581 
2026 Convertible Notes (i)
575,000 (568)574,432 
2027 Convertible Notes575,000 (2,461)572,539 
Total$7,350,000 $(60,982)$7,289,018 

(i) Net carrying value disclosed as current portion of long-term debt within total current liabilities on the condensed consolidated balance sheet.
The Company recognized interest expense on the Notes as follows (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Contractual interest expense$78,131 $48,398 $157,854 $96,777 
Amortization of debt issuance costs3,049 2,481 6,552 5,430 
Total$81,180 $50,879 $164,406 $102,207 

Senior Unsecured Notes due in 2026

On May 20, 2021, the Company issued $2.0 billion in aggregate principal amount of senior unsecured notes comprised of $1.0 billion in aggregate principal amount of senior unsecured notes due 2026 ("2026 Senior Notes"). The 2026 Senior Notes bore interest at a rate of 2.75% and matured on June 1, 2026. The Company paid $1.0 billion in cash to settle the outstanding principal balance of the 2026 Senior Notes, plus accrued and unpaid interest, on June 1, 2026.

Convertible Notes due in 2026 and 2027

On November 13, 2020, the Company issued $1.2 billion in aggregate principal amount of convertible senior notes comprised of $575.0 million in aggregate principal amount of convertible senior notes due 2026 ("2026 Convertible Notes") and $575.0 million in aggregate principal amount of convertible senior notes due 2027 ("2027 Convertible Notes"). The 2026 Convertible Notes bore a zero rate of interest and matured on May 1, 2026. As of the maturity date, no principal had converted and the if-converted value did not exceed the outstanding principal amount. The Company paid $575.0 million in cash to settle the outstanding principal balance of the 2026 Convertible Notes on May 1, 2026. The 2027 Convertible Notes mature on November 1, 2027, unless earlier converted or repurchased, and bear interest at a rate of 0.25% payable semi-annually on May 1 and November 1 of each year.

The circumstances to allow the holders to convert their 2027 Convertible Notes were not met during the six months ended June 30, 2026. As of June 30, 2026, no principal had converted and the if-converted value did not exceed the outstanding principal amount on the 2027 Convertible Notes.

B) Revolving Credit Facility

On January 14, 2026, the Company amended and restated its revolving credit agreement (the "Restated Credit Agreement") with certain lenders, which, among other things, increased the revolving loan commitments from $775 million to $900 million and extended the maturity date to January 14, 2031, provided that if on the date that is 91 days prior to the maturity date of any of the Company's existing convertible notes or senior notes, the aggregate amount of liquidity (as defined in the Restated Credit Agreement) would be less than $250 million after giving pro forma effect to the repayment of such existing convertible notes or such senior notes at maturity, then the maturity date of the revolving loan facility shall be modified to be such date. The Restated Credit Agreement replaced the prior financial covenant with a maximum total net leverage ratio covenant, determined as set forth in the Restated Credit Agreement, to be tested on the last day of each fiscal quarter.

Loans under the Restated Credit Agreement bear interest at the Company's option at (i) an annual rate based on the forward-looking term rate based on the Secured Overnight Financing Rate ("Term SOFR") or (ii) a base rate. Loans based on Term SOFR shall bear interest at a rate equal to Term SOFR plus a margin of between 1.25% and 1.75%, depending on the Company's total net leverage ratio. Loans based on the base rate shall bear interest at a rate based on the highest of the prime rate, the federal funds rate plus 0.50%, and Term SOFR with a tenor of one-month plus 1.00%, in each case, plus a margin ranging from 0.25% to 0.75%, depending on the Company's total net leverage ratio.

The Restated Credit Agreement also contains customary affirmative and negative covenants typical for a facility of this type that, among other things, restrict the Company's domestic restricted subsidiaries from incurring debt for borrowed money, the Company and its domestic restricted subsidiaries from granting liens to secure debt for borrowed money and entering into sale and leaseback transactions, and the Company and its subsidiaries from making certain investments and certain restricted payments.
The Company is obligated to pay customary fees for a credit facility of this size and type including a commitment fee of 0.10% to 0.20% per annum on the undrawn portion of the revolving loan commitments available under the Restated Credit Agreement. As of June 30, 2026, no funds have been drawn and no letters of credit have been issued under the Restated Credit Agreement. The Company incurred immaterial unused commitment fees during the three and six months ended June 30, 2026 and June 30, 2025. As of June 30, 2026, the Company was in compliance with all financial covenants under the Restated Credit Agreement.

C) Square Financial Services Lines of Credit

The Company also has uncommitted and unsecured lines of credit with certain third-party banks for short-term liquidity needs, subject to availability of funds, through Square Financial Services. There were no outstanding balances as of June 30, 2026 and December 31, 2025.

D) Warehouse Funding Facilities

The Company has financing arrangements with financial institutions in Australia, New Zealand, the United States, and the United Kingdom (collectively, the “Warehouse Facilities”) in connection with certain BNPL products. The Warehouse Facilities have been arranged utilizing wholly-owned and consolidated entities (collectively, the Warehouse Special Purpose Entities ("Warehouse SPEs")) formed for the purpose of financing the origination of consumer receivables to partly fund certain BNPL products. Borrowings under the Warehouse Facilities are secured against the respective consumer receivables. While the Warehouse SPEs are included in our consolidated financial statements, they are separate legal entities that maintain legal ownership of the receivables they hold. The assets of the Warehouse SPEs are not available to satisfy our claims or those of our creditors.

These Warehouse Facilities have maturity dates through September 2028. As of June 30, 2026, the aggregate amount of the Warehouse Facilities, using the respective exchange rates at period-end, was $1.5 billion on a revolving basis, of which $1.2 billion was drawn and $342.5 million remained available. All Warehouse Facilities contain portfolio parameters based on performance of the underlying consumer receivables, which each respective region has satisfied as of June 30, 2026. None of the Warehouse Facilities contain corporate financial covenants.

All Warehouse Facilities are on a variable rate basis which aligns closely to the weighted-average life of the consumer receivables they finance. Borrowings under these facilities bear interest at (i) a base rate aligned to either the local risk free rate, such as Term SOFR and the Sterling Overnight Index Average or similar, and (ii) a margin which is set for the term of the availability period. The interest expense incurred on the Company's Warehouse Facilities is included within general and administrative as part of the Company's operating expenses. Interest expense on the Company's Warehouse Facilities was $16.3 million and $28.8 million for the three and six months ended June 30, 2026, respectively, and $10.9 million and $25.8 million for the three and six months ended June 30, 2025, respectively. In addition, each Warehouse Facility requires payment of immaterial commitment fees.

The table below summarizes the future scheduled principal payments of amounts drawn on the Company's Warehouse Facilities (in thousands):
June 30, 2026
2026
$221,407 
2027 (i)
640,537 
2028300,000 
Total$1,161,944 

(i) Includes $351.0 million of future scheduled principal payments disclosed as warehouse funding facilities, current, on the condensed consolidated balance sheet.
v3.26.1
INCOME TAXES
 6 Months Ended
Jun. 30, 2026
Income Tax Disclosure [Abstract]  
INCOME TAXES INCOME TAXES
The Company recorded an income tax expense of $214.4 million and $130.4 million for the three and six months ended June 30, 2026, respectively, compared to $121.0 million and $159.4 million for the three and six months ended June 30, 2025, respectively. Pre-tax income was $301.5 million and pre-tax loss was $91.1 million in the current three and six months periods, respectively, compared to pre-tax income of $659.4 million and $886.4 million in the prior-year periods, reflecting restructuring charges related to the Workforce Plan and accruals related to certain litigation and regulatory matters. Refer to Note 19, Restructuring, and Note 16, Commitments and Contingencies for more details.

The difference between the income tax expense for the three and six months ended June 30, 2026 and the income tax expense for the three and six months ended June 30, 2025 was primarily driven by the change in pre-tax results and a one-time benefit related to a partial release of a valuation allowance associated with certain California deferred tax assets recorded in the second quarter of 2026, partially offset by the tax impact of non-deductible accruals related to certain litigation and regulatory matters.

The difference between the income tax expense at the U.S. federal statutory rate and the income tax expense recorded for the three and six months ended June 30, 2026 was primarily due to the tax impact of non-deductible accruals related to certain litigation and regulatory matters, partially offset by a one-time tax benefit from the partial release of a valuation allowance associated with certain California deferred tax assets.

The Company is subject to income taxes in the U.S. and certain foreign tax jurisdictions. The tax provision for the three and six months ended June 30, 2026 and June 30, 2025 is calculated on a jurisdictional basis.

The Company estimated the worldwide income tax provision using the estimated annual effective income tax rate expected to be applicable for the full year. The Company’s effective tax rate may be subject to fluctuations during the year as new information is obtained, which may affect, among other things, the assumptions used to estimate the annual effective tax rate, including factors such as the mix of forecasted pre-tax earnings in the various jurisdictions in which the Company operates, changes in valuation allowances against deferred tax assets, the recognition and de-recognition of tax benefits related to uncertain tax positions, and changes in or the interpretation of tax laws in jurisdictions where the Company conducts business.
v3.26.1
STOCKHOLDERS' EQUITY
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
STOCKHOLDERS' EQUITY STOCKHOLDERS' EQUITY
Share Repurchase Program

In November 2025, the board of directors of the Company authorized an increase to the Company's share repurchase program to repurchase up to an additional $5 billion of the Company’s Class A common stock, for a total authorization of $9 billion. During the six months ended June 30, 2026, the Company repurchased 11.6 million shares of its Class A common stock for an aggregate amount of $700.9 million, excluding excise tax, which was immaterial. As of June 30, 2026, $4.6 billion remained available and authorized for repurchases under this share repurchase program.

Repurchases may be made from time to time through open market purchases or through privately negotiated transactions subject to market conditions, applicable legal requirements and other relevant factors. The repurchase program does not obligate the Company to acquire any particular amount of its Class A common stock and may be suspended at any time at the Company’s discretion. The timing and number of shares repurchased will depend on a variety of factors, including the stock price, business and market conditions, corporate and regulatory requirements, alternative investment opportunities, acquisition opportunities, and other factors.

Stock Plans

The Company maintains two share-based employee compensation plans: the 2015 Equity Incentive Plan ("2015 Plan") and the 2025 Equity Incentive Plan ("2025 Plan"). The 2025 Plan became effective as of June 17, 2025 and replaced the 2015 Plan as of such date, such that no further awards will be granted under the 2015 Plan. Any awards outstanding under the 2015 Plan as of the date the 2025 Plan became effective will remain outstanding under the 2015 Plan in accordance with their existing terms.
Under the 2025 Plan, shares of the Company's Class A common stock are reserved for the issuance of incentive and nonstatutory stock options (ISOs and NSOs, respectively), stock appreciation rights ("SARs"), restricted stock awards, restricted stock units ("RSUs"), performance awards, and other stock and cash-based awards to eligible employees, directors, and consultants. The awards must be granted at a price per share not less than the fair market value at the date of grant. A maximum aggregate of 80,000,000 shares were reserved for issuance pursuant to awards under the 2025 Plan. As of June 30, 2026, there were 15.5 million shares outstanding under the 2015 Plan and 49.3 million shares available for future issuance under our 2025 Plan.

A summary of stock option activity for the six months ended June 30, 2026 is as follows (in thousands, except per share data):
Number of Stock Options OutstandingWeighted
Average
Exercise
Price		Weighted
Average
Remaining
Contractual
Term
(in years)		Aggregate
Intrinsic
Value
Outstanding, beginning of the year3,757 $69.29 6.95$29,151 
Granted— — 
Exercised(18)53.68 
Forfeited(266)58.19 
Expired(11)65.60 
Outstanding, end of the period3,462 $70.24 6.54$53,448 
Exercisable, end of the period2,212 $76.76 5.40$31,838 

Restricted Stock Activity

Activity related to RSUs during the six months ended June 30, 2026 is set forth below (in thousands, except per share data):
Number of
Shares		Weighted
Average Grant
Date Fair Value
Unvested, beginning of the year31,287 $66.31 
Granted30,043 60.48 
Vested(9,410)66.56 
Forfeited(11,941)64.96 
Unvested, end of the period39,979 $62.27 
Share-Based Compensation

The following table summarizes the effects of share-based compensation on the condensed consolidated statements of operations (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Cost of revenue$104 $135 $217 $291 
Product development168,476 214,927 413,516 437,468 
Sales and marketing26,575 27,140 57,932 60,490 
General and administrative64,596 55,139 126,786 114,328 
Total$259,751 $297,341 $598,451 $612,577 
    
The Company capitalized $6.1 million and $13.3 million of share-based compensation expense related to capitalized software costs during the three and six months ended June 30, 2026, respectively, compared to $6.4 million and $15.3 million during the three and six months ended June 30, 2025, respectively.

As of June 30, 2026, there was $2.5 billion of total unrecognized compensation cost related to outstanding stock options and restricted stock awards that are expected to be recognized over a weighted-average period of 3.0 years.
v3.26.1
NET INCOME (LOSS) PER SHARE
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
NET INCOME (LOSS) PER SHARE NET INCOME (LOSS) PER SHARE
The Company computes net income (loss) per share attributable to our common stockholders using the two-class method required for multiple classes of common stock and participating securities. The holders of our Class A and Class B common stock (together, "common stock") have identical liquidation and dividend rights but different voting rights. Accordingly, we present net income (loss) per share for Class A and Class B common stock together.

Basic net income (loss) per share is computed by dividing the net income (loss) by the weighted-average number of shares of common stock outstanding during the period. Diluted net income (loss) per share is computed by dividing net income (loss) by the weighted-average number of shares of common stock outstanding adjusted for the dilutive effect of all potential shares of common stock. In periods when the Company reported a net loss, diluted net loss per share is the same as basic net loss per share because the effects of potentially dilutive items were anti-dilutive.
The following table presents the calculation of basic and diluted net income (loss) per share (in thousands, except per share data):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Basic net income (loss) per share:
Numerator
Net income (loss) attributable to common stockholders$88,517 $538,458 $(220,164)$728,330 
Denominator
Shares used to compute basic net income (loss) per share597,829 612,882 597,702 616,108 
Basic net income (loss) per share$0.15 $0.88 $(0.37)$1.18 
Diluted net income (loss) per share:
Numerator
Net income (loss) attributable to common stockholders$88,517 $538,458 $(220,164)$728,330 
Interest expense on convertible notes243 823 — 2,409 
Net income (loss) used to compute diluted net income per share$88,760 $539,281 $(220,164)$730,739 
Denominator
Shares used to compute basic net income (loss) per share597,829 612,882 597,702 616,108 
Stock options, restricted stock, and employee stock purchase plan8,441 2,202 — 4,412 
Convertible notes2,577 3,844 — 6,583 
Shares used to compute diluted net income (loss) per share608,847 618,928 597,702 627,103 
Diluted net income (loss) per share$0.15 $0.87 $(0.37)$1.17 

The following potential common shares were excluded from the calculation of diluted net income (loss) per share because their effect would have been anti-dilutive for the periods presented (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Stock options, restricted stock, and employee stock purchase plan44,959 41,593 43,612 37,385 
Convertible notes— — 3,207 — 
Common stock warrants3,844 11,626 3,844 11,866 
Total anti-dilutive securities48,803 53,219 50,663 49,251 
v3.26.1
COMMITMENTS AND CONTINGENCIES
 6 Months Ended
Jun. 30, 2026
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES COMMITMENTS AND CONTINGENCIES
Litigation and Regulatory Matters

The Company is currently subject to, and may in the future be involved in, various litigation matters, legal claims, investigations, and regulatory proceedings.

Regulatory and Governmental Matters

In July 2026, the Company entered into a resolution with Attorneys General from multiple states to settle for an immaterial amount claims related to, among other things, Cash App’s handling of customer complaints and disputes.

The Company also received inquiries from the SEC and Department of Justice (“DOJ”) shortly after the publication of a short seller report in March 2023. In July 2024, the Company received a follow-on inquiry from the SEC. The Company believes these inquiries primarily relate to the allegations raised in the short seller report, the Company’s compliance and risk practices, and related disclosures. In March 2026, the SEC staff notified the Company that it had concluded its investigation and did not intend to recommend an enforcement action against the Company.

The DOJ inquiry remains ongoing, and in March 2026, the DOJ presented the Company with potential terms for resolving this matter. The Company disputes the basis and methodology underlying the DOJ's assessment of the matter, and it does not reflect the Company’s view of the merits or its view of an appropriate measure of loss, harm or the Company's potential financial liability. The Company is negotiating with the DOJ to determine if this matter can be settled on acceptable terms.

The Company has accrued an estimate of loss in the amount of $526 million as of the second quarter of 2026. The Company cannot provide any assurance that the DOJ will not ultimately take legal action against the Company should negotiations not result in an acceptable resolution. While the Company cannot predict the final outcome or estimate a range of loss in excess of amounts accrued, it is reasonably possible that the ultimate resolution could result in losses in excess of the amount accrued and such losses could be material. The Company cannot provide any assurance that the ultimate resolution will not have a material adverse effect on the Company.

Litigation Matters

On January 17, 2025, a putative federal securities class action was filed in the U.S. District Court for the Northern District of California against the Company and certain of its officers alleging violations of Sections 10(b) and 20(a) of the Exchange Act on behalf of a putative class of persons who purchased or otherwise acquired the Company’s Class A common stock between February 26, 2020 and August 1, 2024. The plaintiff alleges, among other things, that the Company made materially false or misleading statements regarding its anti-money laundering (“AML”) and compliance programs and seeks unspecified damages, attorneys’ fees and other costs. On June 18, 2025, plaintiffs filed an amended consolidated complaint. On January 6, 2026, the court denied the Company’s motion to dismiss.

In addition, between February 5, 2025 and April 24, 2025, multiple shareholder derivative actions were filed in the U.S. District Court for the Northern District of California against certain of the Company’s current and former directors and officers based on allegations substantially similar to the securities class action. The plaintiffs seek unspecified damages, attorneys' fees and other costs. On May 7, 2025, the Court ordered that the actions were related and renamed the related cases as “In re Block, Inc. Shareholder Derivative Litigation.” On January 6, 2026, the court denied the Company’s motions to dismiss in the derivative actions. A separate derivative action making similar claims and requesting similar damages was filed on October 9, 2025 in the U.S. District Court for the Northern District of California that has not been consolidated. In April 2026, the board of directors of the Company formed a special litigation committee and empowered it to investigate the claims raised in the derivative actions.

It is reasonably possible that the Company will incur a loss in connection with these federal securities and derivative matters, and the loss could be material; however, the Company cannot estimate the amount of loss or range of loss at this time.
Tax Matters

In June 2024, the Office of the Treasurer and Tax Collector of the City and County of San Francisco (the "Tax Collector") issued an assessment of San Francisco gross receipts tax, including interest and penalties, for fiscal years 2020 through 2022, asserting the Company owes incremental taxes on a portion of the receipts generated by the Company related to sales of bitcoin. The Company paid the assessed amount of $71.4 million in January 2025. In September 2025, the Tax Collector issued an assessment of gross receipts tax, including tax, interest, and penalties, of $42.7 million for fiscal years 2023 and 2024, which the Company paid in October 2025. In both cases, the Company paid the assessment in order to preserve its rights to dispute the assessments and initiate the dispute process. The Company strongly disagrees with the Tax Collector’s assessments and plans to vigorously pursue all available remedies. Given the assessed amounts must be paid to initiate the dispute process and will be returned in full or used to settle any final amount due to the Tax Collector, the Company views the amounts as deposit assets.

The Company estimates its aggregate exposure for fiscal years 2020 through 2024 could be up to $114 million, which is the full amount of the assessments already paid. The Tax Collector may continue to challenge the Company's gross receipts tax positions. The Company has currently concluded that a loss for this matter is not probable.

The Company regularly assesses the likelihood of adverse outcomes resulting from litigation and regulatory proceedings and adjusts the financial statements based on such assessments. The eventual outcome of these matters may differ materially from the estimates the Company has currently accrued in the financial statements.

In addition, the Company is subject to various legal matters, investigations, subpoenas, inquiries, audits, claims, lawsuits, arbitrations, and disputes, including with regulatory bodies and governmental agencies. The Company cannot at this time fairly estimate a reasonable range of exposure, if any, of the potential liability, if any, with respect to any of these other matters. Although the Company may be subject to an adverse decision or settlement, it does not believe that the final disposition of any of these other matters will have a material adverse effect on its results of operations, financial position, or liquidity. However, the Company cannot give any assurance regarding the ultimate outcome of any of these matters, and their resolution could be material to the Company's operating results.

Purchase Commitments

From time to time, we may enter into non-cancelable purchase obligations related to cloud computing infrastructure. The commitment amounts in the table below are associated with contracts that are enforceable and legally binding and that specify all significant terms, including fixed or minimum services to be used, and the approximate timing of the actions under the contracts.

As of June 30, 2026, the future minimum payments under the purchase commitments were as follows (in thousands):
Payments Due By Period
Remainder of 2026$280,143 
2027457,317 
2028386,171 
2029370,000 
2030410,000 
Thereafter392,000 
Total$2,295,631 
Other Contingencies

The Company is under examination, or may be subject to examination, by several tax authorities. These examinations may lead to proposed adjustments to the Company's taxes or net operating losses with respect to years under examination, as well as subsequent periods. The Company regularly assesses the likelihood of adverse outcomes resulting from tax examinations to determine the adequacy of the Company's provision for direct and indirect taxes. The Company continues to monitor the progress of ongoing discussions with tax authorities and the effect, if any, on the Company's provision for direct and indirect taxes.

Management believes that an adequate provision has been made for any adjustments that may result from tax examinations. However, the outcome of tax audits cannot be predicted with certainty. If any issues addressed in the Company's tax audits are resolved in a manner not consistent with the Company’s expectations, the Company could be required to adjust the Company's provision for direct and indirect taxes in the period such resolution occurs.
v3.26.1
SEGMENT AND GEOGRAPHICAL INFORMATION
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
SEGMENT AND GEOGRAPHICAL INFORMATION SEGMENT AND GEOGRAPHICAL INFORMATION
The Company reports its segments to reflect the manner in which the Company's chief operating decision maker ("CODM") reviews and assesses performance. The Company's CODM is the Block Head and Chairperson. The Company has two reportable segments, Square and Cash App. Products and services that are not assigned to a specific reportable segment, including but not limited to TIDAL and other emerging ecosystems, are aggregated and presented within a general corporate and other category. Square and Cash App are defined as follows:

•Cash App includes the financial tools available to individuals within the mobile Cash App, including peer-to-peer payments, bitcoin and stock investments. Cash App also includes Cash App Card, which is linked to customer stored balances that customers can use to pay for purchases or withdraw funds from an ATM, as well as Cash App Borrow, which is a credit product that allows eligible customers to access short-term loans for a fee. Cash App also includes all BNPL products.

•Square includes managed payment services, software solutions, hardware, and financial solutions offered to sellers, excluding those that involve Cash App.

The primary financial measures used by the CODM to evaluate performance and allocate resources are revenue and gross profit. The CODM uses segment gross profit for each segment during the annual budgeting and forecasting process. Further, the CODM uses gross profit as the metric to guide the business trajectory and to consider the overall gross profit growth by segment on a quarterly basis, when making decisions about the allocation of operating and capital resources to each segment. The CODM does not evaluate performance or allocate resources based on segment asset data, and therefore such information is not included.
The following tables present information on the reportable segments revenue and segment gross profit, as well as amounts for the "Corporate and Other" category, which includes products and services not assigned to reportable segments and intersegment eliminations (in thousands):
Three Months Ended
June 30, 2026		Six Months Ended
June 30, 2026
Cash AppSquareCorporate and Other TotalCash AppSquareCorporate and Other Total
Revenue:
Commerce enablement revenue$1,130,858 $2,160,757 $49,956 $3,341,571 $2,217,324 $3,963,581 $99,136 $6,280,041 
Financial solutions revenue1,076,907 305,461 — 1,382,368 2,116,927 587,426 — 2,704,353 
Bitcoin ecosystem revenue1,812,918 37,345 43,485 1,893,748 3,557,138 64,878 68,124 3,690,140 
Segment revenue$4,020,683 $2,503,563 $93,441 $6,617,687 $7,891,389 $4,615,885 $167,260 $12,674,534 
Less: Cost of revenue2,047,680 1,343,327 60,599 3,451,606 4,010,252 2,474,099 114,863 6,599,214 
Segment gross profit$1,973,003 $1,160,236 $32,842 $3,166,081 $3,881,137 $2,141,786 $52,397 $6,075,320 
Interest revenue$44,251 $9,794 $— $54,045 $87,624 $18,166 $— $105,790 
Amortization of acquired technology assets$11,672 $1,133 $— $12,805 $23,343 $2,279 $— $25,622 

Three Months Ended
June 30, 2025		Six Months Ended
June 30, 2025
Cash AppSquareCorporate and Other TotalCash AppSquareCorporate and Other Total
Revenue:
Commerce enablement revenue$940,416 $1,915,179 $42,707 $2,898,302 $1,840,520 $3,541,800 $82,957 $5,465,277 
Financial solutions revenue733,457 251,096 — 984,553 1,382,929 476,635 — 1,859,564 
Bitcoin ecosystem revenue2,171,055 — 547 2,171,602 4,500,493 — 919 4,501,412 
Segment revenue$3,844,928 $2,166,275 $43,254 $6,054,457 $7,723,942 $4,018,435 $83,876 $11,826,253 
Less: Cost of revenue2,344,428 1,139,464 34,035 3,517,927 4,843,491 2,093,726 62,903 7,000,120 
Segment gross profit $1,500,500 $1,026,811 $9,219 $2,536,530 $2,880,451 $1,924,709 $20,973 $4,826,133 
Interest revenue$50,126 $10,548 $— $60,674 $99,364 $18,485 $— $117,849 
Amortization of acquired technology assets$12,897 $1,507 $— $14,404 $26,063 $3,015 $— $29,078 
The following table provides a reconciliation of total segment gross profit to the Company’s income (loss) before applicable income taxes (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Total segment gross profit$3,133,239 $2,527,311 $6,022,923 $4,805,160 
Add: Corporate and other gross profit32,842 9,219 52,397 20,973 
Less: Product development608,660 725,288 1,647,533 1,485,987 
Less: Sales and marketing664,955 549,731 1,315,463 1,054,191 
Less: General and administrative825,869 449,237 1,683,433 941,034 
Less: Transaction, loan, and consumer receivable losses585,450 294,090 1,085,575 463,779 
Less: Amortization of customer and other intangible assets34,277 33,891 68,436 67,547 
Less: Interest expense, net55,721 23,687 108,916 40,930 
Less: Remeasurement loss (gain) on bitcoin investment88,474 (212,165)261,292 (118,814)
Less: Other expense (income), net1,199 13,389 (4,227)5,047 
Income (loss) before applicable income taxes$301,476 $659,382 $(91,101)$886,432 

Revenue

Revenue by geography is based on the addresses of the sellers or customers. The following table details revenue by geographic area (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
United States$6,025,374 $5,562,423 $11,556,124 $10,910,053 
International592,313 492,034 1,118,410 916,200 
Total$6,617,687 $6,054,457 $12,674,534 $11,826,253 

No individual country from the international markets contributed more than 10% of total revenue for the three and six months ended June 30, 2026 and June 30, 2025.

Long-Lived Assets

The following table details long-lived assets by geography (in thousands):
  June 30, 2026December 31, 2025
United States$7,110,540 $7,281,727 
Australia4,594,669 4,453,807 
Other international1,890,316 1,933,458 
Total$13,595,525 $13,668,992 

Assets by reportable segment were not included, as this information is not reviewed by the CODM to make operating decisions or allocate resources and is reviewed on a consolidated basis.
v3.26.1
SUPPLEMENTAL CASH FLOW INFORMATION
 6 Months Ended
Jun. 30, 2026
Supplemental Cash Flow Elements [Abstract]  
SUPPLEMENTAL CASH FLOW INFORMATION SUPPLEMENTAL CASH FLOW INFORMATION
The supplemental disclosures of cash flow information consist of the following (in thousands):
Six Months Ended
June 30,
20262025
Supplemental cash flow data:
Cash paid for interest$189,690 $113,270 
Cash paid for income taxes121,029 107,357 
Supplemental disclosures of non-cash investing and financing activities:
Unsettled originations of consumer receivables$209,926 $229,822 
Right-of-use assets obtained in exchange for operating lease obligations212 3,797 
Purchases of property and equipment in accounts payable and accrued expenses10,757 8,120 
v3.26.1
RESTRUCTURING
 6 Months Ended
Jun. 30, 2026
Restructuring and Related Activities [Abstract]  
RESTRUCTURING RESTRUCTURING
In February 2026, the Company announced a workforce reduction restructuring plan (the “Workforce Plan”) designed to better align our organizational structure with our operating model and strategic priorities. As part of the Workforce Plan, the Company reduced its workforce by more than 40%. Restructuring charges in connection with the Workforce Plan for the six months ended June 30, 2026 were $495.0 million, which primarily consisted of cash expenditures for notice period and severance payments, employee benefits and related costs, as well as share-based compensation expense. Restructuring charges for the three months ended June 30, 2026 were immaterial. The Workforce Plan concluded during the second quarter of fiscal 2026 and the Company does not expect to incur any further material related charges.

The following table presents a summary of severance and other personnel costs related to the Workforce Plan for the six months ended June 30, 2026 (in thousands):
Six Months Ended
June 30, 2026
Product development$345,603 
Sales and marketing47,836 
General and administrative101,573 
Total$495,012 

The following table summarizes the changes in the restructuring reserve related to the Workforce Plan, which are included within accrued expenses and other current liabilities on the condensed consolidated balance sheets, for the six months ended June 30, 2026 (in thousands):
Severance and other termination benefits
Charges (i)
$386,023 
Payments(367,088)
Accrued liability, end of period$18,935 

(i) Excludes share-based compensation expense of $104.7 million as well as severance payments incurred and paid within the period.
v3.26.1
Insider Trading Arrangements
 3 Months Ended
Jun. 30, 2026
Trading Arrangements, by Individual  
Rule 10b5-1 Arrangement Adopted false
Non-Rule 10b5-1 Arrangement Adopted false
Rule 10b5-1 Arrangement Terminated false
Non-Rule 10b5-1 Arrangement Terminated false
v3.26.1
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
 6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Basis of Presentation
Basis of Presentation
    
The accompanying interim condensed consolidated financial statements of the Company are unaudited. These interim condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States of America ("U.S. GAAP") and the applicable rules and regulations of the United States ("U.S.") Securities and Exchange Commission ("SEC") for interim financial information. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. The December 31, 2025 condensed consolidated balance sheet was derived from the audited financial statements as of that date, but does not include all of the information and footnotes required by U.S. GAAP for complete financial statements.

The accompanying unaudited interim condensed consolidated financial statements have been prepared on the same basis as the audited consolidated financial statements and, in the opinion of management, reflect all adjustments of a normal recurring nature considered necessary to state fairly the Company's consolidated financial position, results of operations, comprehensive income (loss), and cash flows for the interim periods. The condensed consolidated financial statements include the financial statements of Block and its wholly-owned and majority-owned subsidiaries, including variable interest entities for which the Company is deemed to be the primary beneficiary. All intercompany transactions and balances have been eliminated in consolidation. Minority interests are recorded as a noncontrolling interest, which is reported as a component of stockholders' equity on the condensed consolidated balance sheets. The interim results for the three and six months ended June 30, 2026 are not necessarily indicative of the results that may be expected for the year ending December 31, 2026, or for any other future annual or interim period.

The information included in this Quarterly Report on Form 10-Q should be read in conjunction with the Consolidated Financial Statements and related notes in the Company's Annual Report on Form 10-K for the year ended December 31, 2025.
Reclassifications
Reclassifications

Certain prior period amounts reported in our condensed consolidated statements of operations and notes thereto have been reclassified to conform to the current year presentation.

The reclassifications in the condensed consolidated statements of operations primarily represent changes to present revenue line items consisting of Commerce enablement, Financial solutions, and Bitcoin ecosystem. The Company believes this updated presentation will improve the usefulness of the financial information for the reader and is more reflective of the business today.
The presentation of cost of revenues has been conformed to reflect the changes related to the presentation of revenues. Such reclassifications related to the presentation of revenues and cost of revenues had no impact on total revenues, gross profit, operating income, or net income previously reported.
Use of Estimates
Use of Estimates

The preparation of the Company’s condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses, as well as related disclosure of contingent assets and liabilities. Actual results could differ from the Company’s estimates. To the extent that there are material differences between these estimates and actual results, the Company’s financial condition or operating results will be materially affected. The Company bases its estimates on current and past experience, to the extent that historical experience is predictive of future performance and other assumptions that the Company believes are reasonable under the circumstances. The Company evaluates these estimates on an ongoing basis.

Estimates, judgments, and assumptions in these condensed consolidated financial statements include, but are not limited to, those related to accrued transaction losses, contingencies, including outcomes from claims and disputes, valuation of loans held for sale, valuation of goodwill and acquired intangible assets, determination of goodwill and intangible asset impairment charges, determination of allowance for credit losses for loans held for investment, determination of allowance for credit losses for consumer receivables, allocation of acquired goodwill to reporting units, income and other taxes, operating lease right-of-use assets and related liabilities, severance and restructuring charges, and share-based compensation.
The Company's estimates of valuation of loans held for sale, allowance for credit losses associated with consumer receivables and loans held for investment, and accrued transaction losses are based on historical experience, adjusted for market data relevant to the current economic environment. The Company will continue to update its estimates as developments occur and additional information is obtained.
Concentration of Credit Risk
Concentration of Credit Risk
    
For the three and six months ended June 30, 2026 and June 30, 2025, the Company had no customer that accounted for greater than 10% of total net revenue.

The Company had four third-party payment processors that represented approximately 44%, 14%, 14%, and 11% of settlements receivable as of June 30, 2026. As of December 31, 2025, the Company had four third-party processors that represented approximately 36%, 25%, 11% and 10% of settlements receivable. In both periods, all other third-party payment processors were insignificant. Certain of the Company's products are reliant on third-party service providers such as partner banks, card issuers, and payment service providers. The Company's relationships with third-party service providers may result in operational concentration risks for some of these products.

Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents, restricted cash, marketable debt securities, settlements receivable, customer funds, consumer receivables, loans held for sale, and loans held for investment. To mitigate the risk of concentration associated with cash and cash equivalents, as well as restricted cash, funds are held with creditworthy institutions and, at certain times, temporarily swept into insured programs overnight to reduce single firm concentration risk. Amounts on deposit may exceed federal deposit insurance limits. The associated risk of concentration for marketable debt securities is mitigated by holding a diversified portfolio of highly rated investments. Settlements receivable are amounts due from well-established payment processing companies and normally take one or two business days to settle, which mitigates the associated risk of concentration. The associated risk of concentration for loans and consumer receivables is partially mitigated by credit evaluations that are performed prior to facilitating the offering of loans and receivables and ongoing performance monitoring of the Company’s loan customers.
Sales and Marketing Expenses
Sales and Marketing Expenses
Advertising costs are expensed as incurred and included in sales and marketing expenses on the condensed consolidated statements of operations. Total advertising costs were $137.3 million and $239.4 million for the three and six months ended June 30, 2026, respectively, compared to $119.0 million and $209.6 million for the three and six months ended June 30, 2025, respectively. The Company also records services, incentives, and other costs to acquire customers that are not directly related to a revenue generating transaction as sales and marketing expenses, as the Company considers these to be marketing costs to encourage the usage of Cash App. These expenses include, but are not limited to, Cash App peer-to-peer processing costs and related transaction losses, overdraft losses, card issuance costs, customer referral bonuses, and promotional giveaways. These costs are generally expensed as incurred.
Recent Accounting Pronouncements
Recent Accounting Pronouncements

Recently Issued Accounting Pronouncements Not Yet Adopted

In November 2024, the FASB issued ASU No. 2024-03, Disaggregation of Income Statement Expenses ("ASU 2024-03"), and in January 2025, the FASB issued ASU No. 2025-01, Clarifying the Effective Date ("ASU 2025-01"). The amendments are intended to enhance disclosures regarding an entity’s costs and expenses by requiring additional disaggregated information disclosures about certain income statement expense line items. The amendments, as clarified by ASU 2025-01, are effective for fiscal years beginning after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The Company is evaluating the effect of adopting the new disclosure requirements.
Fair Value of Financial Instruments
The Company measures its cash equivalents, customer funds, short-term and long-term marketable debt securities, marketable equity investments, and bitcoin investment at fair value. The Company classifies these investments within Level 1 or Level 2 of the fair value hierarchy because the Company values these investments using quoted market prices or alternative pricing sources and models utilizing market observable inputs.
v3.26.1
REVENUE (Tables)
 6 Months Ended
Jun. 30, 2026
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The following table presents the Company's net revenue disaggregated by revenue source (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Revenue from contracts with customers:
Commerce enablement revenue$2,904,354 $2,574,210 $5,422,060 $4,840,998 
Financial solutions revenue624,200 565,811 1,210,066 1,114,383 
Bitcoin ecosystem revenue1,893,748 2,171,602 3,690,140 4,501,412 
Revenue from other sources: (i)
Commerce enablement revenue437,217 324,092 857,981 624,279 
Financial solutions revenue758,168 418,742 1,494,287 745,181 
Total net revenue$6,617,687 $6,054,457 $12,674,534 $11,826,253 

(i) Revenue from other sources relates to revenue generated from the Company's Square Loans, Cash App Borrow loans, consumer receivables originated through, and affiliate relationship revenue from, our BNPL products, Afterpay Post-Purchase loans, interest income earned on customer funds, and interest income earned on funds held by Square Financial Services, Inc., which is a Utah state-chartered industrial loan company ("Square Financial Services").
v3.26.1
INVESTMENTS IN DEBT SECURITIES (Tables)
 6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Schedule of Short-term and Long-term Investments
The Company's short-term and long-term investments in debt securities as of June 30, 2026 and December 31, 2025 were as follows (in thousands):
June 30, 2026
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Short-term debt securities:
U.S. agency securities$14,000 $4 $— $14,004 
Corporate bonds93,110 16 (110)93,016 
Commercial paper17,509 — — 17,509 
Certificates of deposit2,072 — — 2,072 
U.S. government securities184,282 133 (171)184,244 
Total$310,973 $153 $(281)$310,845 
Long-term debt securities:
U.S. agency securities$999 $— $(5)$994 
Corporate bonds71,793 8 (244)71,557 
Municipal securities9,904 — (401)9,503 
U.S. government securities144,219 — (832)143,387 
Total$226,915 $8 $(1,482)$225,441 

December 31, 2025
Amortized CostGross Unrealized GainsGross Unrealized LossesFair Value
Short-term debt securities:
U.S. agency securities$19,017 $18 $— $19,035 
Corporate bonds58,954 165 — 59,119 
Commercial paper92,655 — — 92,655 
Municipal securities130 — — 130 
Certificates of deposit2,211 — — 2,211 
U.S. government securities343,923 707 (3)344,627 
Total$516,890 $890 $(3)$517,777 
Long-term debt securities:
Corporate bonds$81,332 $139 $(2)$81,469 
Municipal securities7,167 28 (244)6,951 
U.S. government securities99,981 486 — 100,467 
Total$188,480 $653 $(246)$188,887 
Schedule of Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value
The Company's gross unrealized losses and fair values for those investments that were in an unrealized loss position as of June 30, 2026 and December 31, 2025, aggregated by investment category and the length of time that individual securities have been in a continuous loss position were as follows (in thousands):
June 30, 2026
Less than 12 MonthsGreater than 12 MonthsTotal
Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
Short-term debt securities:
Corporate bonds$75,263 $(110)$— $— $75,263 $(110)
U.S. government securities111,168 (171)— — 111,168 (171)
Total$186,431 $(281)$— $— $186,431 $(281)
Long-term debt securities:
U.S. agency securities$994 $(5)$— $— $994 $(5)
Corporate bonds64,409 (244)— — 64,409 (244)
Municipal securities8,773 (268)730 (133)9,503 (401)
U.S. government securities143,387 (832)— — 143,387 (832)
Total$217,563 $(1,349)$730 $(133)$218,293 $(1,482)

December 31, 2025
Less than 12 MonthsGreater than 12 MonthsTotal
Fair ValueGross Unrealized LossesFair ValueGross Unrealized LossesFair ValueGross Unrealized Losses
Short-term debt securities:
U.S. agency securities$17 $— $— $— $17 $— 
Corporate bonds3,508 — — — 3,508 — 
U.S. government securities11,998 (3)— — 11,998 (3)
Total$15,523 $(3)$— $— $15,523 $(3)
Long-term debt securities:
Corporate bonds$4,539 $(2)$— $— $4,539 $(2)
Municipal securities3,274 (98)1,235 (146)4,509 (244)
Total$7,813 $(100)$1,235 $(146)$9,048 $(246)
Schedule of Contractual Maturities of Short-Term and Long-Term Investments
The contractual maturities of the Company's short-term and long-term investments as of June 30, 2026 were as follows (in thousands):
Amortized CostFair Value
Due in one year or less$310,973 $310,845 
Due after one year to five years217,011 215,938 
Due after five years9,904 9,503 
Total$537,888 $536,286 
v3.26.1
CUSTOMER FUNDS (Tables)
 6 Months Ended
Jun. 30, 2026
Investments, Debt and Equity Securities [Abstract]  
Schedule of Assets Underlying Customer Funds
The following table presents the assets underlying customer funds (in thousands):
  June 30, 2026December 31, 2025
Cash$4,343,210 $3,663,727 
Cash equivalents:
Reverse repurchase agreement (i)
1,187,068 1,108,097 
Total customer funds$5,530,278 $4,771,824 

(i) The Company has accounted for the reverse repurchase agreement with a third party as an overnight lending arrangement, collateralized by the securities subject to the repurchase agreement. The Company classifies the amounts due from the counterparty as cash equivalents due to their short term nature.
v3.26.1
FAIR VALUE MEASUREMENTS (Tables)
 6 Months Ended
Jun. 30, 2026
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis
The Company’s assets and liabilities that are measured at fair value on a recurring basis were classified as follows (in thousands):
June 30, 2026December 31, 2025
Level 1Level 2Level 3Level 1Level 2Level 3
Cash equivalents:
Money market funds$350,598 $— $— $608,807 $— $— 
U.S. government securities— — — 4,963 — — 
Commercial paper— — — — 64,805 — 
Corporate bonds— 492 — — 276 — 
Restricted cash:
Money market funds278,590 — — 293,514 — — 
Customer funds:
Reverse repurchase agreement1,187,068 — — 1,108,097 — — 
Short-term debt securities:
U.S. government securities184,244 — — 344,627 — — 
Corporate bonds— 93,016 — — 59,119 — 
U.S. agency securities— 14,004 — — 19,035 — 
Certificates of deposit— 2,072 — — 2,211 — 
Commercial paper— 17,509 — — 92,655 — 
Municipal securities— — — — 130 — 
Long-term debt securities:
U.S. government securities143,387 — — 100,467 — — 
Corporate bonds— 71,557 — — 81,469 — 
U.S. agency securities— 994 — — — — 
Municipal securities— 9,503 — — 6,951 — 
Other:
Bitcoin investment533,866 — — 777,515 — — 
Investment in marketable equity securities— — — 5,225 — — 
Total
$2,677,753 $209,147 $— $3,243,215 $326,651 $— 
The Company estimates the fair value of its convertible and senior notes based on their last actively traded prices (Level 1) or market observable inputs (Level 2). The estimated fair value and carrying value of the convertible and senior notes were as follows (in thousands):
June 30, 2026December 31, 2025
Carrying Value Fair Value (Level 2)Carrying ValueFair Value (Level 2)
2026 Senior Notes$— $— $998,827 $993,144 
2030 Senior Notes1,186,913 1,191,269 1,185,533 1,209,528 
2031 Senior Notes993,068 914,357 992,372 932,095 
2032 Senior Notes1,979,158 2,022,343 1,977,734 2,057,081 
2033 Senior Notes988,228 995,244 987,581 1,013,732 
2026 Convertible Notes— — 574,432 566,103 
2027 Convertible Notes573,202 544,255 572,539 530,171 
Total$5,720,569 $5,667,468 $7,289,018 $7,301,854 

The estimated fair value and carrying value of loans held for sale and loans held for investment were as follows (in thousands):
June 30, 2026December 31, 2025
Carrying ValueFair Value (Level 3)Carrying ValueFair Value (Level 3)
Loans held for sale$701,362 $727,013 $782,966 $812,658 
Loans held for investment3,749,254 3,824,260 3,382,957 3,445,631 
Total$4,450,616 $4,551,273 $4,165,923 $4,258,289 
v3.26.1
CONSUMER RECEIVABLES, NET (Tables)
 6 Months Ended
Jun. 30, 2026
Receivables [Abstract]  
Schedule of Aging Analysis of Consumer Receivables held for Investment
The following table presents an aging analysis of the amortized cost of consumer receivables by delinquency status (in thousands):
  June 30, 2026December 31, 2025
Non-delinquent loans$2,205,036 $2,416,017 
1 - 60 days past due361,913 363,165 
61 - 90 days past due30,604 29,984 
> 90 days past due
121,060 101,021 
Total amortized cost$2,718,613 $2,910,187 
The following table presents an aging analysis of the amortized cost of consumer loans held for investment by delinquency status (in thousands):
  June 30, 2026December 31, 2025
Non-delinquent loans$3,082,512 $2,810,925 
1 - 59 days past due
355,382 293,088 
60 - 89 days past due
139,771 78,606 
90+ days past due5,370 5 
Total amortized cost$3,583,035 $3,182,624 
Schedule of Activity in Allowance for Credit Losses for Consumer Receivables
The following table summarizes activity in the allowance for credit losses for consumer receivables (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Allowance for credit losses, beginning of the period$236,688 $193,420 $239,865 $201,793 
Provision for credit losses91,051 88,100 167,603 143,750 
Charge-offs and other adjustments(87,519)(75,340)(167,968)(140,976)
Foreign exchange effect 687 5,801 1,407 7,414 
Allowance for credit losses, end of the period$240,907 $211,981 $240,907 $211,981 
The following table presents the Company's loans held for investment allowance for credit losses by category (in thousands):
Three Months Ended
June 30, 2026
ConsumerCommercialOtherTotal
Beginning balance of the allowance for credit losses$435,018 $32,062 $15,722 $482,802 
Current period provisions for expected credit losses400,800 11,481 8,007 420,288 
Write-offs charged against the allowance(331,868)(14,943)(2,372)(349,183)
Recoveries of amounts previously written off23,759 3,652 — 27,411 
Ending balance of the allowance for credit losses$527,709 $32,252 $21,357 $581,318 

Six Months Ended
June 30, 2026
ConsumerCommercialOtherTotal
Beginning balance of the allowance for credit losses$340,117 $33,602 $9,142 $382,861 
Current period provisions for expected credit losses734,629 21,874 14,591 771,094 
Write-offs charged against the allowance(595,774)(29,354)(2,376)(627,504)
Recoveries of amounts previously written off48,737 6,130 — 54,867 
Ending balance of the allowance for credit losses$527,709 $32,252 $21,357 $581,318 
v3.26.1
CUSTOMER LOANS (Tables)
 6 Months Ended
Jun. 30, 2026
Receivables [Abstract]  
Schedule of Loans Held for Investment by Category The following table presents the Company's loans held for investment by category (in thousands):
June 30, 2026
ConsumerCommercialOtherTotal
Amortized cost basis$3,583,035 $488,860 $258,677 $4,330,572 
Allowance for credit losses(527,709)(32,252)(21,357)(581,318)
Total loans held for investment, net of allowance$3,055,326 $456,608 $237,320 $3,749,254 

December 31, 2025
ConsumerCommercialOtherTotal
Amortized cost basis$3,182,624 $481,757 $101,437 $3,765,818 
Allowance for credit losses(340,117)(33,602)(9,142)(382,861)
Total loans held for investment, net of allowance$2,842,507 $448,155 $92,295 $3,382,957 
Schedule of Aging Analysis of the Amortized Cost of Consumer Loans Held for Investment
The following table presents an aging analysis of the amortized cost of consumer receivables by delinquency status (in thousands):
  June 30, 2026December 31, 2025
Non-delinquent loans$2,205,036 $2,416,017 
1 - 60 days past due361,913 363,165 
61 - 90 days past due30,604 29,984 
> 90 days past due
121,060 101,021 
Total amortized cost$2,718,613 $2,910,187 
The following table presents an aging analysis of the amortized cost of consumer loans held for investment by delinquency status (in thousands):
  June 30, 2026December 31, 2025
Non-delinquent loans$3,082,512 $2,810,925 
1 - 59 days past due
355,382 293,088 
60 - 89 days past due
139,771 78,606 
90+ days past due5,370 5 
Total amortized cost$3,583,035 $3,182,624 
Schedule of Activity in Allowance for Credit Losses for Consumer Receivables
The following table summarizes activity in the allowance for credit losses for consumer receivables (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Allowance for credit losses, beginning of the period$236,688 $193,420 $239,865 $201,793 
Provision for credit losses91,051 88,100 167,603 143,750 
Charge-offs and other adjustments(87,519)(75,340)(167,968)(140,976)
Foreign exchange effect 687 5,801 1,407 7,414 
Allowance for credit losses, end of the period$240,907 $211,981 $240,907 $211,981 
The following table presents the Company's loans held for investment allowance for credit losses by category (in thousands):
Three Months Ended
June 30, 2026
ConsumerCommercialOtherTotal
Beginning balance of the allowance for credit losses$435,018 $32,062 $15,722 $482,802 
Current period provisions for expected credit losses400,800 11,481 8,007 420,288 
Write-offs charged against the allowance(331,868)(14,943)(2,372)(349,183)
Recoveries of amounts previously written off23,759 3,652 — 27,411 
Ending balance of the allowance for credit losses$527,709 $32,252 $21,357 $581,318 

Six Months Ended
June 30, 2026
ConsumerCommercialOtherTotal
Beginning balance of the allowance for credit losses$340,117 $33,602 $9,142 $382,861 
Current period provisions for expected credit losses734,629 21,874 14,591 771,094 
Write-offs charged against the allowance(595,774)(29,354)(2,376)(627,504)
Recoveries of amounts previously written off48,737 6,130 — 54,867 
Ending balance of the allowance for credit losses$527,709 $32,252 $21,357 $581,318 
Schedule of Loans Held for Sale by Category
The following table presents the Company’s loans held for sale by category (in thousands):
  June 30, 2026December 31, 2025
Commercial$676,750 $708,512 
Consumer15,145 40,735 
Other 9,467 33,719 
Total $701,362 $782,966 
v3.26.1
ACQUIRED INTANGIBLE ASSETS (Tables)
 6 Months Ended
Jun. 30, 2026
Intangible Asset, Goodwill and Other [Abstract]  
Schedule of Finite Lived Intangible Assets
The following table details acquired intangible assets (in thousands):
Balance at June 30, 2026
Weighted Average Estimated Useful LifeCostAccumulated AmortizationNet
Technology assets5 years$359,008 $(323,582)$35,426 
Customer assets15 years1,418,425 (442,944)975,481 
Trade names and other9 years389,137 (199,782)189,355 
Total$2,166,570 $(966,308)$1,200,262 

Balance at December 31, 2025
Weighted Average Estimated Useful LifeCostAccumulated AmortizationNet
Technology assets5 years$359,008 $(297,960)$61,048 
Customer assets15 years1,401,701 (391,100)1,010,601 
Trade names and other9 years389,137 (179,116)210,021 
Total$2,149,846 $(868,176)$1,281,670 
The change in the carrying value of intangible assets was as follows (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Acquired intangible assets, net, beginning of the period$1,245,784 $1,391,242 $1,281,670 $1,433,067 
Amortization expense(47,082)(48,295)(94,058)(96,625)
Foreign currency translation and other adjustments1,560 25,788 12,650 32,293 
Acquired intangible assets, net, end of the period$1,200,262 $1,368,735 $1,200,262 $1,368,735 
Schedule of Future Amortization Expense of Intangible Assets
The estimated future amortization expense of intangible assets as of June 30, 2026 was as follows (in thousands):
Remainder of 2026$91,907 
2027142,108 
2028138,320 
2029137,690 
2030134,290 
Thereafter555,947 
Total$1,200,262 
v3.26.1
OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) (Tables)
 6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Other Current Assets
The following table presents the detail of other current assets (in thousands):
  June 30, 2026December 31, 2025
Restricted cash (i)
$821,679 $1,071,574 
Loans held for sale (ii)
701,362 782,966 
Processing costs receivable484,328 448,406 
Prepaid expenses319,556 288,707 
Investments in short-term debt securities310,845 517,777 
Inventory, net198,861 158,319 
Accounts receivable, net194,432 238,207 
Other (iii)
543,574 601,746 
Total$3,574,637 $4,107,702 

(i) Includes a portion invested in money market funds. Refer to Note 5, Fair Value Measurements for further details.

(ii) Refer to Note 7, Customer Loans for further details.

(iii) In June 2026, the Company received cash proceeds of $329.8 million from the sale of a non-marketable equity security, which are included within "Other investing activities" on the condensed consolidated statements of cash flows for the three and six months ended June 30, 2026.
Schedule of Inventory, Net
The following table presents the detail of inventory, net (in thousands):
  June 30, 2026December 31, 2025
Raw materials
$17,917 $16,054 
Work in process55,421 46,791 
Finished goods125,523 95,474 
Total inventory, net$198,861 $158,319 
Schedule of Accrued Expenses and Other Current Liabilities
The following table presents the detail of accrued expenses and other current liabilities (in thousands):    
  June 30, 2026December 31, 2025
Accrued legal contingencies$674,575 $172,959 
Accrued expenses563,557 389,278 
Customer deposits387,423 297,432 
Accounts payable122,354 114,572 
Processing fee payable116,292 106,815 
Operating lease liabilities, current61,081 55,349 
Accrued transaction losses (i)
59,761 49,250 
Accrued royalties55,911 51,596 
Other236,097 301,642 
Total$2,277,051 $1,538,893 

(i) The Company is exposed to potential credit losses related to transactions processed by sellers that are subsequently subject to chargebacks when the Company is unable to collect from the sellers primarily due to insolvency. Generally, the Company estimates the potential loss rates based on historical experience that is continuously adjusted for new information and incorporates, where applicable, reasonable and supportable forecasts about future expectations.
Schedule of Reserve for Transaction Losses
The following table summarizes the activities of the Company’s reserve for transaction losses (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Accrued transaction losses, beginning of the period$59,051 $57,137 $49,250 $58,580 
Provision for transaction losses (i)
25,976 32,071 60,077 61,479 
Charge-offs to accrued transaction losses(25,266)(34,826)(49,566)(65,677)
Accrued transaction losses, end of the period$59,761 $54,382 $59,761 $54,382 

(i) Estimated losses related to Cash App overdrafts are classified within sales and marketing expenses and are accounted for separately from the provision for transaction losses. Such losses were immaterial for the three and six months ended June 30, 2026.
v3.26.1
OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT) (Tables)
 6 Months Ended
Jun. 30, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of Other Non-Current Assets
The following table presents the detail of other non-current assets (in thousands):
  June 30, 2026December 31, 2025
Property and equipment, net$293,315 $323,375 
Investments in long-term debt securities225,441 188,887 
Operating lease right-of-use assets134,952 214,929 
Investment in non-marketable equity securities (i)
103,366 423,198 
Restricted cash71,911 73,786 
Other220,099 257,853 
Total$1,049,084 $1,482,028 

(i) Investment in non-marketable equity securities represents the Company's investments in equity of non-public entities. These investments are measured using the measurement alternative and are therefore carried at cost, less impairment, adjusted for observable price changes from orderly transactions for identical or similar investments of the same issuer. Adjustments are recorded within other expense (income), net on the condensed consolidated statements of operations.
Schedule of Non-Marketable Equity Securities
The adjustments to the carrying value of the Company's non-current non-marketable equity securities measured using the measurement alternative were as follows (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Carrying amount, beginning of period$88,112 $243,058 $423,198 $245,557 
Net additions (reductions) (i)
15,254 3,500 (314,544)1,001 
Gross unrealized losses and impairments— — (5,288)— 
Carrying amount, end of period$103,366 $246,558 $103,366 $246,558 

(i) Net reductions for the six months ended June 30, 2026 relates to a reclassification from non-current to current assets.

The following table summarizes the cumulative net unrealized upward and downward adjustments related to the Company's non-current non-marketable equity securities measured using the measurement alternative (in thousands):
  June 30, 2026December 31, 2025
Upward adjustments$6,155 $326,970 
Downward adjustments and impairments$(7,349)$(2,061)
Schedule of Other Non-Current Liabilities
The following table presents the detail of other non-current liabilities (in thousands):
  June 30, 2026December 31, 2025
Operating lease liabilities, non-current$227,718 $257,126 
Deferred tax liabilities9,526 1,173 
Other119,480 123,546 
Total$356,724 $381,845 
v3.26.1
BITCOIN (Tables)
 6 Months Ended
Jun. 30, 2026
Other Liabilities Disclosure [Abstract]  
Schedule of Changes in Bitcoin Investment
The following table summarizes the changes in the Company’s bitcoin investment (in thousands, except amount of bitcoin):
Amount of bitcoin
Value
Balance at December 31, 20258,883 $777,515 
Additions (i)
149 12,593 
Remeasurement loss— (172,818)
Balance at March 31, 20269,032 $617,290 
Additions (i)
85 5,050 
Remeasurement loss— (88,474)
Balance at June 30, 20269,117 $533,866 

Amount of bitcoin
Value
Balance at December 31, 20248,485 $792,282 
Additions (i)
99 9,519 
Remeasurement loss— (93,351)
Balance at March 31, 20258,584 $708,450 
Additions (i)
108 11,041 
Remeasurement gain— 212,165 
Balance at June 30, 20258,692 $931,656 

(i) Additions primarily represent the Company's purchases of bitcoin for investment purposes.
v3.26.1
INDEBTEDNESS (Tables)
 6 Months Ended
Jun. 30, 2026
Debt Disclosure [Abstract]  
Schedule of Net Carrying Amount of Convertible Notes
The following tables summarize the Company's Notes as of June 30, 2026 and December 31, 2025 (in thousands):
June 30, 2026
Principal OutstandingUnamortized Debt Issuance CostsNet Carrying Value
2030 Senior Notes$1,200,000 $(13,087)$1,186,913 
2031 Senior Notes1,000,000 (6,932)993,068 
2032 Senior Notes2,000,000 (20,842)1,979,158 
2033 Senior Notes1,000,000 (11,772)988,228 
2027 Convertible Notes575,000 (1,798)573,202 
Total$5,775,000 $(54,431)$5,720,569 

December 31, 2025
Principal OutstandingUnamortized Debt Issuance CostsNet Carrying Value
2026 Senior Notes (i)
$1,000,000 $(1,173)$998,827 
2030 Senior Notes1,200,000 (14,467)1,185,533 
2031 Senior Notes1,000,000 (7,628)992,372 
2032 Senior Notes2,000,000 (22,266)1,977,734 
2033 Senior Notes1,000,000 (12,419)987,581 
2026 Convertible Notes (i)
575,000 (568)574,432 
2027 Convertible Notes575,000 (2,461)572,539 
Total$7,350,000 $(60,982)$7,289,018 

(i) Net carrying value disclosed as current portion of long-term debt within total current liabilities on the condensed consolidated balance sheet.
Schedule of Interest Expense on Convertible Notes
The Company recognized interest expense on the Notes as follows (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Contractual interest expense$78,131 $48,398 $157,854 $96,777 
Amortization of debt issuance costs3,049 2,481 6,552 5,430 
Total$81,180 $50,879 $164,406 $102,207 
Schedule of Amounts Drawn on Facilities by Year of Maturity
The table below summarizes the future scheduled principal payments of amounts drawn on the Company's Warehouse Facilities (in thousands):
June 30, 2026
2026
$221,407 
2027 (i)
640,537 
2028300,000 
Total$1,161,944 

(i) Includes $351.0 million of future scheduled principal payments disclosed as warehouse funding facilities, current, on the condensed consolidated balance sheet.
v3.26.1
STOCKHOLDERS' EQUITY (Tables)
 6 Months Ended
Jun. 30, 2026
Share-Based Payment Arrangement [Abstract]  
Schedule of Stock Option Activity
A summary of stock option activity for the six months ended June 30, 2026 is as follows (in thousands, except per share data):
Number of Stock Options OutstandingWeighted
Average
Exercise
Price		Weighted
Average
Remaining
Contractual
Term
(in years)		Aggregate
Intrinsic
Value
Outstanding, beginning of the year3,757 $69.29 6.95$29,151 
Granted— — 
Exercised(18)53.68 
Forfeited(266)58.19 
Expired(11)65.60 
Outstanding, end of the period3,462 $70.24 6.54$53,448 
Exercisable, end of the period2,212 $76.76 5.40$31,838 
Schedule of Restricted Stock Awards and Restricted Stock Units Activity
Activity related to RSUs during the six months ended June 30, 2026 is set forth below (in thousands, except per share data):
Number of
Shares		Weighted
Average Grant
Date Fair Value
Unvested, beginning of the year31,287 $66.31 
Granted30,043 60.48 
Vested(9,410)66.56 
Forfeited(11,941)64.96 
Unvested, end of the period39,979 $62.27 
Schedule of the Effect of Share-Based Compensation on the Condensed Consolidated Statements of Operations
The following table summarizes the effects of share-based compensation on the condensed consolidated statements of operations (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Cost of revenue$104 $135 $217 $291 
Product development168,476 214,927 413,516 437,468 
Sales and marketing26,575 27,140 57,932 60,490 
General and administrative64,596 55,139 126,786 114,328 
Total$259,751 $297,341 $598,451 $612,577 
v3.26.1
NET INCOME (LOSS) PER SHARE (Tables)
 6 Months Ended
Jun. 30, 2026
Earnings Per Share [Abstract]  
Schedule of Basic and Diluted Net Income (loss) Per Share
The following table presents the calculation of basic and diluted net income (loss) per share (in thousands, except per share data):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Basic net income (loss) per share:
Numerator
Net income (loss) attributable to common stockholders$88,517 $538,458 $(220,164)$728,330 
Denominator
Shares used to compute basic net income (loss) per share597,829 612,882 597,702 616,108 
Basic net income (loss) per share$0.15 $0.88 $(0.37)$1.18 
Diluted net income (loss) per share:
Numerator
Net income (loss) attributable to common stockholders$88,517 $538,458 $(220,164)$728,330 
Interest expense on convertible notes243 823 — 2,409 
Net income (loss) used to compute diluted net income per share$88,760 $539,281 $(220,164)$730,739 
Denominator
Shares used to compute basic net income (loss) per share597,829 612,882 597,702 616,108 
Stock options, restricted stock, and employee stock purchase plan8,441 2,202 — 4,412 
Convertible notes2,577 3,844 — 6,583 
Shares used to compute diluted net income (loss) per share608,847 618,928 597,702 627,103 
Diluted net income (loss) per share$0.15 $0.87 $(0.37)$1.17 
Schedule of Antidilutive Securities Excluded from Calculation of Diluted Net Income (loss) Per Share
The following potential common shares were excluded from the calculation of diluted net income (loss) per share because their effect would have been anti-dilutive for the periods presented (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Stock options, restricted stock, and employee stock purchase plan44,959 41,593 43,612 37,385 
Convertible notes— — 3,207 — 
Common stock warrants3,844 11,626 3,844 11,866 
Total anti-dilutive securities48,803 53,219 50,663 49,251 
v3.26.1
COMMITMENTS AND CONTINGENCIES (Tables)
 6 Months Ended
Jun. 30, 2026
Commitments and Contingencies Disclosure [Abstract]  
Schedule of Recorded Unconditional Purchase Obligations
As of June 30, 2026, the future minimum payments under the purchase commitments were as follows (in thousands):
Payments Due By Period
Remainder of 2026$280,143 
2027457,317 
2028386,171 
2029370,000 
2030410,000 
Thereafter392,000 
Total$2,295,631 
v3.26.1
SEGMENT AND GEOGRAPHICAL INFORMATION (Tables)
 6 Months Ended
Jun. 30, 2026
Segment Reporting [Abstract]  
Schedule of Segment Reporting
The following tables present information on the reportable segments revenue and segment gross profit, as well as amounts for the "Corporate and Other" category, which includes products and services not assigned to reportable segments and intersegment eliminations (in thousands):
Three Months Ended
June 30, 2026		Six Months Ended
June 30, 2026
Cash AppSquareCorporate and Other TotalCash AppSquareCorporate and Other Total
Revenue:
Commerce enablement revenue$1,130,858 $2,160,757 $49,956 $3,341,571 $2,217,324 $3,963,581 $99,136 $6,280,041 
Financial solutions revenue1,076,907 305,461 — 1,382,368 2,116,927 587,426 — 2,704,353 
Bitcoin ecosystem revenue1,812,918 37,345 43,485 1,893,748 3,557,138 64,878 68,124 3,690,140 
Segment revenue$4,020,683 $2,503,563 $93,441 $6,617,687 $7,891,389 $4,615,885 $167,260 $12,674,534 
Less: Cost of revenue2,047,680 1,343,327 60,599 3,451,606 4,010,252 2,474,099 114,863 6,599,214 
Segment gross profit$1,973,003 $1,160,236 $32,842 $3,166,081 $3,881,137 $2,141,786 $52,397 $6,075,320 
Interest revenue$44,251 $9,794 $— $54,045 $87,624 $18,166 $— $105,790 
Amortization of acquired technology assets$11,672 $1,133 $— $12,805 $23,343 $2,279 $— $25,622 

Three Months Ended
June 30, 2025		Six Months Ended
June 30, 2025
Cash AppSquareCorporate and Other TotalCash AppSquareCorporate and Other Total
Revenue:
Commerce enablement revenue$940,416 $1,915,179 $42,707 $2,898,302 $1,840,520 $3,541,800 $82,957 $5,465,277 
Financial solutions revenue733,457 251,096 — 984,553 1,382,929 476,635 — 1,859,564 
Bitcoin ecosystem revenue2,171,055 — 547 2,171,602 4,500,493 — 919 4,501,412 
Segment revenue$3,844,928 $2,166,275 $43,254 $6,054,457 $7,723,942 $4,018,435 $83,876 $11,826,253 
Less: Cost of revenue2,344,428 1,139,464 34,035 3,517,927 4,843,491 2,093,726 62,903 7,000,120 
Segment gross profit $1,500,500 $1,026,811 $9,219 $2,536,530 $2,880,451 $1,924,709 $20,973 $4,826,133 
Interest revenue$50,126 $10,548 $— $60,674 $99,364 $18,485 $— $117,849 
Amortization of acquired technology assets$12,897 $1,507 $— $14,404 $26,063 $3,015 $— $29,078 
Schedule of Reconciliation of Total Segment Profit to Income before applicable Income Taxes
The following table provides a reconciliation of total segment gross profit to the Company’s income (loss) before applicable income taxes (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
Total segment gross profit$3,133,239 $2,527,311 $6,022,923 $4,805,160 
Add: Corporate and other gross profit32,842 9,219 52,397 20,973 
Less: Product development608,660 725,288 1,647,533 1,485,987 
Less: Sales and marketing664,955 549,731 1,315,463 1,054,191 
Less: General and administrative825,869 449,237 1,683,433 941,034 
Less: Transaction, loan, and consumer receivable losses585,450 294,090 1,085,575 463,779 
Less: Amortization of customer and other intangible assets34,277 33,891 68,436 67,547 
Less: Interest expense, net55,721 23,687 108,916 40,930 
Less: Remeasurement loss (gain) on bitcoin investment88,474 (212,165)261,292 (118,814)
Less: Other expense (income), net1,199 13,389 (4,227)5,047 
Income (loss) before applicable income taxes$301,476 $659,382 $(91,101)$886,432 
Schedule of Revenue by Geographic Area
Revenue by geography is based on the addresses of the sellers or customers. The following table details revenue by geographic area (in thousands):
Three Months Ended
June 30,		Six Months Ended
June 30,
2026202520262025
United States$6,025,374 $5,562,423 $11,556,124 $10,910,053 
International592,313 492,034 1,118,410 916,200 
Total$6,617,687 $6,054,457 $12,674,534 $11,826,253 
Schedule of Long-lived Assets by Geographic Area
The following table details long-lived assets by geography (in thousands):
  June 30, 2026December 31, 2025
United States$7,110,540 $7,281,727 
Australia4,594,669 4,453,807 
Other international1,890,316 1,933,458 
Total$13,595,525 $13,668,992 
v3.26.1
SUPPLEMENTAL CASH FLOW INFORMATION (Tables)
 6 Months Ended
Jun. 30, 2026
Supplemental Cash Flow Elements [Abstract]  
Schedule of Supplemental Disclosures of Cash Flow Information
The supplemental disclosures of cash flow information consist of the following (in thousands):
Six Months Ended
June 30,
20262025
Supplemental cash flow data:
Cash paid for interest$189,690 $113,270 
Cash paid for income taxes121,029 107,357 
Supplemental disclosures of non-cash investing and financing activities:
Unsettled originations of consumer receivables$209,926 $229,822 
Right-of-use assets obtained in exchange for operating lease obligations212 3,797 
Purchases of property and equipment in accounts payable and accrued expenses10,757 8,120 
v3.26.1
RESTRUCTURING (Tables)
 6 Months Ended
Jun. 30, 2026
Restructuring and Related Activities [Abstract]  
Schedule of Restructuring and Related Costs
The following table presents a summary of severance and other personnel costs related to the Workforce Plan for the six months ended June 30, 2026 (in thousands):
Six Months Ended
June 30, 2026
Product development$345,603 
Sales and marketing47,836 
General and administrative101,573 
Total$495,012 
Schedule of Restructuring Reserve by Type of Cost
The following table summarizes the changes in the restructuring reserve related to the Workforce Plan, which are included within accrued expenses and other current liabilities on the condensed consolidated balance sheets, for the six months ended June 30, 2026 (in thousands):
Severance and other termination benefits
Charges (i)
$386,023 
Payments(367,088)
Accrued liability, end of period$18,935 

(i) Excludes share-based compensation expense of $104.7 million as well as severance payments incurred and paid within the period.
v3.26.1
DESCRIPTION OF BUSINESS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)
$ in Millions
 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2026
USD ($)
Jun. 30, 2025
USD ($)
Jun. 30, 2026
USD ($)
segment
payment_processor
Jun. 30, 2025
USD ($)
Dec. 31, 2025
payment_processor
Concentration Risk [Line Items]          
Number of reportable segments | segment     2    
Advertising costs $ 137.3 $ 119.0 $ 239.4 $ 209.6  
Selling and marketing expenses not directly related to a revenue generating transaction $ 279.8 $ 211.6 $ 576.4 $ 415.1  
Minimum          
Concentration Risk [Line Items]          
Settlements receivable period (in days)     1 day    
Maximum          
Concentration Risk [Line Items]          
Settlements receivable period (in days)     2 days    
Settlements Receivable | Credit Concentration Risk          
Concentration Risk [Line Items]          
Number of third party processors | payment_processor     4   4
Third Party Processor, 1 | Settlements Receivable | Credit Concentration Risk          
Concentration Risk [Line Items]          
Concentration risk (as percent)     44.00%   36.00%
Third Party Processor, 2 | Settlements Receivable | Credit Concentration Risk          
Concentration Risk [Line Items]          
Concentration risk (as percent)     14.00%   25.00%
Third Party Processor, 3 | Settlements Receivable | Credit Concentration Risk          
Concentration Risk [Line Items]          
Concentration risk (as percent)     14.00%   11.00%
Third Party Processor, 4 | Settlements Receivable | Credit Concentration Risk          
Concentration Risk [Line Items]          
Concentration risk (as percent)     11.00%   10.00%
v3.26.1
REVENUE (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Disaggregation of Revenue [Line Items]        
Total net revenue $ 6,617,687 $ 6,054,457 $ 12,674,534 $ 11,826,253
Commerce enablement revenue        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers: 2,904,354 2,574,210 5,422,060 4,840,998
Revenue from other sources 437,217 324,092 857,981 624,279
Total net revenue 3,341,571 2,898,302 6,280,041 5,465,277
Financial solutions revenue        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers: 624,200 565,811 1,210,066 1,114,383
Revenue from other sources 758,168 418,742 1,494,287 745,181
Total net revenue 1,382,368 984,553 2,704,353 1,859,564
Bitcoin ecosystem revenue        
Disaggregation of Revenue [Line Items]        
Revenue from contracts with customers: 1,893,748 2,171,602 3,690,140 4,501,412
Total net revenue $ 1,893,748 $ 2,171,602 $ 3,690,140 $ 4,501,412
v3.26.1
INVESTMENTS IN DEBT SECURITIES - Schedule of Short-term and Long-term Investments (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost $ 537,888  
Fair Value 536,286  
Location, Statement of Financial Position, Balance [Axis]: us-gaap:OtherAssetsCurrent    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 310,973 $ 516,890
Gross Unrealized Gains 153 890
Gross Unrealized Losses (281) (3)
Fair Value 310,845 517,777
Location, Statement of Financial Position, Balance [Axis]: us-gaap:OtherAssetsNoncurrent    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 226,915 188,480
Gross Unrealized Gains 8 653
Gross Unrealized Losses (1,482) (246)
Fair Value 225,441 188,887
U.S. agency securities | Location, Statement of Financial Position, Balance [Axis]: us-gaap:OtherAssetsCurrent    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 14,000 19,017
Gross Unrealized Gains 4 18
Gross Unrealized Losses 0 0
Fair Value 14,004 19,035
U.S. agency securities | Location, Statement of Financial Position, Balance [Axis]: us-gaap:OtherAssetsNoncurrent    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 999  
Gross Unrealized Gains 0  
Gross Unrealized Losses (5)  
Fair Value 994  
Corporate bonds | Location, Statement of Financial Position, Balance [Axis]: us-gaap:OtherAssetsCurrent    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 93,110 58,954
Gross Unrealized Gains 16 165
Gross Unrealized Losses (110) 0
Fair Value 93,016 59,119
Corporate bonds | Location, Statement of Financial Position, Balance [Axis]: us-gaap:OtherAssetsNoncurrent    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 71,793 81,332
Gross Unrealized Gains 8 139
Gross Unrealized Losses (244) (2)
Fair Value 71,557 81,469
Commercial paper | Location, Statement of Financial Position, Balance [Axis]: us-gaap:OtherAssetsCurrent    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 17,509 92,655
Gross Unrealized Gains 0 0
Gross Unrealized Losses 0 0
Fair Value 17,509 92,655
Municipal securities | Location, Statement of Financial Position, Balance [Axis]: us-gaap:OtherAssetsCurrent    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost   130
Gross Unrealized Gains   0
Gross Unrealized Losses   0
Fair Value   130
Municipal securities | Location, Statement of Financial Position, Balance [Axis]: us-gaap:OtherAssetsNoncurrent    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 9,904 7,167
Gross Unrealized Gains 0 28
Gross Unrealized Losses (401) (244)
Fair Value 9,503 6,951
Certificates of deposit | Location, Statement of Financial Position, Balance [Axis]: us-gaap:OtherAssetsCurrent    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 2,072 2,211
Gross Unrealized Gains 0 0
Gross Unrealized Losses 0 0
Fair Value 2,072 2,211
U.S. government securities | Location, Statement of Financial Position, Balance [Axis]: us-gaap:OtherAssetsCurrent    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 184,282 343,923
Gross Unrealized Gains 133 707
Gross Unrealized Losses (171) (3)
Fair Value 184,244 344,627
U.S. government securities | Location, Statement of Financial Position, Balance [Axis]: us-gaap:OtherAssetsNoncurrent    
Debt Securities, Available-for-sale [Line Items]    
Amortized Cost 144,219 99,981
Gross Unrealized Gains 0 486
Gross Unrealized Losses (832) 0
Fair Value $ 143,387 $ 100,467
v3.26.1
INVESTMENTS IN DEBT SECURITIES - Schedule of Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Location, Statement of Financial Position, Balance [Axis]: us-gaap:OtherAssetsCurrent    
Debt Securities, Available-for-sale [Line Items]    
Less than 12 months, Fair Value $ 186,431 $ 15,523
Less than 12 Months, Gross Unrealized Losses (281) (3)
Greater than 12 months, Fair Value 0 0
Greater than 12 months, Gross Unrealized Losses 0 0
Total, Fair Value 186,431 15,523
Total, Gross Unrealized Losses (281) (3)
Location, Statement of Financial Position, Balance [Axis]: us-gaap:OtherAssetsNoncurrent    
Debt Securities, Available-for-sale [Line Items]    
Less than 12 months, Fair Value 217,563 7,813
Less than 12 Months, Gross Unrealized Losses (1,349) (100)
Greater than 12 months, Fair Value 730 1,235
Greater than 12 months, Gross Unrealized Losses (133) (146)
Total, Fair Value 218,293 9,048
Total, Gross Unrealized Losses (1,482) (246)
Corporate bonds | Location, Statement of Financial Position, Balance [Axis]: us-gaap:OtherAssetsCurrent    
Debt Securities, Available-for-sale [Line Items]    
Less than 12 months, Fair Value 75,263 3,508
Less than 12 Months, Gross Unrealized Losses (110) 0
Greater than 12 months, Fair Value 0 0
Greater than 12 months, Gross Unrealized Losses 0 0
Total, Fair Value 75,263 3,508
Total, Gross Unrealized Losses (110) 0
Corporate bonds | Location, Statement of Financial Position, Balance [Axis]: us-gaap:OtherAssetsNoncurrent    
Debt Securities, Available-for-sale [Line Items]    
Less than 12 months, Fair Value 64,409 4,539
Less than 12 Months, Gross Unrealized Losses (244) (2)
Greater than 12 months, Fair Value 0 0
Greater than 12 months, Gross Unrealized Losses 0 0
Total, Fair Value 64,409 4,539
Total, Gross Unrealized Losses (244) (2)
U.S. government securities | Location, Statement of Financial Position, Balance [Axis]: us-gaap:OtherAssetsCurrent    
Debt Securities, Available-for-sale [Line Items]    
Less than 12 months, Fair Value 111,168 11,998
Less than 12 Months, Gross Unrealized Losses (171) (3)
Greater than 12 months, Fair Value 0 0
Greater than 12 months, Gross Unrealized Losses 0 0
Total, Fair Value 111,168 11,998
Total, Gross Unrealized Losses (171) (3)
U.S. government securities | Location, Statement of Financial Position, Balance [Axis]: us-gaap:OtherAssetsNoncurrent    
Debt Securities, Available-for-sale [Line Items]    
Less than 12 months, Fair Value 143,387  
Less than 12 Months, Gross Unrealized Losses (832)  
Greater than 12 months, Fair Value 0  
Greater than 12 months, Gross Unrealized Losses 0  
Total, Fair Value 143,387  
Total, Gross Unrealized Losses (832)  
Municipal securities | Location, Statement of Financial Position, Balance [Axis]: us-gaap:OtherAssetsNoncurrent    
Debt Securities, Available-for-sale [Line Items]    
Less than 12 months, Fair Value 8,773 3,274
Less than 12 Months, Gross Unrealized Losses (268) (98)
Greater than 12 months, Fair Value 730 1,235
Greater than 12 months, Gross Unrealized Losses (133) (146)
Total, Fair Value 9,503 4,509
Total, Gross Unrealized Losses (401) (244)
U.S. agency securities | Location, Statement of Financial Position, Balance [Axis]: us-gaap:OtherAssetsCurrent    
Debt Securities, Available-for-sale [Line Items]    
Less than 12 months, Fair Value   17
Less than 12 Months, Gross Unrealized Losses   0
Greater than 12 months, Fair Value   0
Greater than 12 months, Gross Unrealized Losses   0
Total, Fair Value   17
Total, Gross Unrealized Losses   $ 0
U.S. agency securities | Location, Statement of Financial Position, Balance [Axis]: us-gaap:OtherAssetsNoncurrent    
Debt Securities, Available-for-sale [Line Items]    
Less than 12 months, Fair Value 994  
Less than 12 Months, Gross Unrealized Losses (5)  
Greater than 12 months, Fair Value 0  
Greater than 12 months, Gross Unrealized Losses 0  
Total, Fair Value 994  
Total, Gross Unrealized Losses $ (5)  
v3.26.1
INVESTMENTS IN DEBT SECURITIES - Schedule of Contractual Maturities of Short-Term and Long-Term Investments (Details)
$ in Thousands
Jun. 30, 2026
USD ($)
Amortized Cost  
Due in one year or less $ 310,973
Due after one year to five years 217,011
Due after five years 9,904
Amortized Cost 537,888
Fair Value  
Due in one year or less 310,845
Due after one year to five years 215,938
Due after five years 9,503
Fair Value $ 536,286
v3.26.1
CUSTOMER FUNDS (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Debt Securities, Available-for-sale [Line Items]    
Customer funds $ 5,530,278 $ 4,771,824
Cash    
Debt Securities, Available-for-sale [Line Items]    
Customer funds 4,343,210 3,663,727
Cash equivalents: | Reverse repurchase agreement    
Debt Securities, Available-for-sale [Line Items]    
Customer funds $ 1,187,068 $ 1,108,097
v3.26.1
FAIR VALUE MEASUREMENTS - Schedule of Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Mar. 31, 2026
Dec. 31, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Customer funds $ 5,530,278   $ 4,771,824      
Bitcoin investment 533,866 $ 617,290 777,515 $ 931,656 $ 708,450 $ 792,282
Level 1            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Bitcoin investment 533,866   777,515      
Investment in marketable equity securities 0   5,225      
Total 2,677,753   3,243,215      
Level 1 | Money market funds            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Cash equivalents 350,598   608,807      
Restricted cash 278,590   293,514      
Level 1 | U.S. government securities            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Cash equivalents 0   4,963      
Short-term debt securities 184,244   344,627      
Long-term debt securities 143,387   100,467      
Level 1 | Commercial paper            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Cash equivalents 0   0      
Level 1 | Corporate bonds            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Cash equivalents 0   0      
Short-term debt securities 0   0      
Long-term debt securities 0   0      
Level 1 | Reverse repurchase agreement            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Customer funds 1,187,068   1,108,097      
Level 1 | U.S. agency securities            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Short-term debt securities 0   0      
Long-term debt securities 0   0      
Level 1 | Certificates of deposit            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Short-term debt securities 0   0      
Level 1 | Commercial paper            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Short-term debt securities 0   0      
Level 1 | Municipal securities            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Short-term debt securities 0   0      
Long-term debt securities 0   0      
Level 2            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Bitcoin investment 0   0      
Investment in marketable equity securities 0   0      
Total 209,147   326,651      
Level 2 | Money market funds            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Cash equivalents 0   0      
Restricted cash 0   0      
Level 2 | U.S. government securities            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Cash equivalents 0   0      
Short-term debt securities 0   0      
Long-term debt securities 0   0      
Level 2 | Commercial paper            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Cash equivalents 0   64,805      
Level 2 | Corporate bonds            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Cash equivalents 492   276      
Short-term debt securities 93,016   59,119      
Long-term debt securities 71,557   81,469      
Level 2 | Reverse repurchase agreement            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Customer funds 0   0      
Level 2 | U.S. agency securities            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Short-term debt securities 14,004   19,035      
Long-term debt securities 994   0      
Level 2 | Certificates of deposit            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Short-term debt securities 2,072   2,211      
Level 2 | Commercial paper            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Short-term debt securities 17,509   92,655      
Level 2 | Municipal securities            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Short-term debt securities 0   130      
Long-term debt securities 9,503   6,951      
Level 3            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Bitcoin investment 0   0      
Investment in marketable equity securities 0   0      
Total 0   0      
Level 3 | Money market funds            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Cash equivalents 0   0      
Restricted cash 0   0      
Level 3 | U.S. government securities            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Cash equivalents 0   0      
Short-term debt securities 0   0      
Long-term debt securities 0   0      
Level 3 | Commercial paper            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Cash equivalents 0   0      
Level 3 | Corporate bonds            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Cash equivalents 0   0      
Short-term debt securities 0   0      
Long-term debt securities 0   0      
Level 3 | Reverse repurchase agreement            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Customer funds 0   0      
Level 3 | U.S. agency securities            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Short-term debt securities 0   0      
Long-term debt securities 0   0      
Level 3 | Certificates of deposit            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Short-term debt securities 0   0      
Level 3 | Commercial paper            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Short-term debt securities 0   0      
Level 3 | Municipal securities            
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]            
Short-term debt securities 0   0      
Long-term debt securities $ 0   $ 0      
v3.26.1
FAIR VALUE MEASUREMENTS - Schedule of Fair Value and Carrying Value of Convertible Senior Notes (Details) - Level 2 - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Carrying Value    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt instrument $ 5,720,569 $ 7,289,018
Fair Value (Level 2)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt instrument 5,667,468 7,301,854
2026 Senior Notes | Carrying Value    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt instrument 0 998,827
2026 Senior Notes | Fair Value (Level 2)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt instrument 0 993,144
2030 Senior Notes | Carrying Value    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt instrument 1,186,913 1,185,533
2030 Senior Notes | Fair Value (Level 2)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt instrument 1,191,269 1,209,528
2031 Senior Notes | Carrying Value    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt instrument 993,068 992,372
2031 Senior Notes | Fair Value (Level 2)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt instrument 914,357 932,095
2032 Senior Notes | Carrying Value    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt instrument 1,979,158 1,977,734
2032 Senior Notes | Fair Value (Level 2)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt instrument 2,022,343 2,057,081
2033 Senior Notes | Carrying Value    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt instrument 988,228 987,581
2033 Senior Notes | Fair Value (Level 2)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Debt instrument 995,244 1,013,732
2026 Convertible Notes | Carrying Value    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Convertible notes 0 574,432
2026 Convertible Notes | Fair Value (Level 2)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Convertible notes 0 566,103
2027 Convertible Notes | Carrying Value    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Convertible notes 573,202 572,539
2027 Convertible Notes | Fair Value (Level 2)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Convertible notes $ 544,255 $ 530,171
v3.26.1
FAIR VALUE MEASUREMENTS - Schedule of Fair Value and Carrying Value of Loans Held for Sale (Details) - Level 3 - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Carrying Value    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Loans held for sale $ 701,362 $ 782,966
Loans held for investment 3,749,254 3,382,957
Total 4,450,616 4,165,923
Fair Value (Level 3)    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Loans held for sale 727,013 812,658
Loans held for investment 3,824,260 3,445,631
Total $ 4,551,273 $ 4,258,289
v3.26.1
CONSUMER RECEIVABLES, NET - Narrative (Details) - Consumer - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Financing Receivable, Credit Quality Indicator [Line Items]          
Consumer receivables reclassified from loans held for investment to loans held for sale and sold to third parties $ 0 $ 210,000 $ 0 $ 420,000  
Threshold period past due (in days) 60 days   60 days    
Consumer receivables $ 2,718,613   $ 2,718,613   $ 2,910,187
Cash in transit $ 255,300   $ 255,300   $ 245,400
Threshold period past due to consider amounts to be uncollectible 180 days   180 days    
Pass          
Financing Receivable, Credit Quality Indicator [Line Items]          
Consumer receivables $ 2,600,000   $ 2,600,000    
Classified          
Financing Receivable, Credit Quality Indicator [Line Items]          
Consumer receivables $ 151,700   $ 151,700    
Minimum          
Financing Receivable, Credit Quality Indicator [Line Items]          
Payment period     14 days    
Maximum          
Financing Receivable, Credit Quality Indicator [Line Items]          
Payment period     56 days    
v3.26.1
CONSUMER RECEIVABLES, NET - Schedule of Aging Analysis of Consumer Receivables held for Investment (Details) - Consumer - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Financing Receivable, Past Due [Line Items]    
Total amortized cost $ 2,718,613 $ 2,910,187
Non-delinquent loans    
Financing Receivable, Past Due [Line Items]    
Total amortized cost 2,205,036 2,416,017
1 - 60 days past due    
Financing Receivable, Past Due [Line Items]    
Total amortized cost 361,913 363,165
61 - 90 days past due    
Financing Receivable, Past Due [Line Items]    
Total amortized cost 30,604 29,984
> 90 days past due    
Financing Receivable, Past Due [Line Items]    
Total amortized cost $ 121,060 $ 101,021
v3.26.1
CONSUMER RECEIVABLES, NET - Schedule of Activity in Allowance for Credit Losses for Consumer Receivables (Details) - Consumer - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Financing Receivable, Allowance for Credit Loss [Roll Forward]        
Allowance for credit losses, beginning of the period $ 236,688 $ 193,420 $ 239,865 $ 201,793
Provision for credit losses 91,051 88,100 167,603 143,750
Charge-offs and other adjustments (87,519) (75,340) (167,968) (140,976)
Foreign exchange effect 687 5,801 1,407 7,414
Allowance for credit losses, end of the period $ 240,907 $ 211,981 $ 240,907 $ 211,981
v3.26.1
CUSTOMER LOANS - Narrative (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Dec. 31, 2025
Financing Receivable, Past Due [Line Items]          
Amortized cost basis $ 4,330,572   $ 4,330,572   $ 3,765,818
Loan Portfolio Segment, Held For Investment | Unlikely to be Collected Financing Receivable | Square Loans          
Financing Receivable, Past Due [Line Items]          
Threshold period past due (in days) 120 days   120 days    
Loan Portfolio Segment, Held For Investment | Pass          
Financing Receivable, Past Due [Line Items]          
Consumer receivables $ 3,800,000   $ 3,800,000   3,400,000
Loan Portfolio Segment, Held For Investment | Pass | Square Loans          
Financing Receivable, Past Due [Line Items]          
Threshold period past due (in days) 59 days   59 days    
Loan Portfolio Segment, Held For Investment | Classified          
Financing Receivable, Past Due [Line Items]          
Amortized cost basis $ 509,500   $ 509,500   $ 381,000
Loan Portfolio Segment, Held For Investment | Delinquent | Square Loans          
Financing Receivable, Past Due [Line Items]          
Threshold period past due (in days) 60 days   60 days    
Loan Portfolio Segment, Held For Investment | Delinquent | Classified | Square Loans          
Financing Receivable, Past Due [Line Items]          
Threshold period past due (in days) 60 days   60 days    
Loan Portfolio Segment, Held For Investment | Nonperforming Financial Instruments | Square Loans          
Financing Receivable, Past Due [Line Items]          
Threshold period past due (in days) 90 days   90 days    
Loan Portfolio Segment, Held For Sale          
Financing Receivable, Past Due [Line Items]          
Proceeds from sale of finance receivables $ 1,200,000 $ 1,100,000 $ 2,500,000 $ 2,200,000  
Gain on sale of financing receivable $ 69,100 $ 62,300 $ 141,200 $ 127,700  
Loan Portfolio Segment, Held For Sale | Unlikely to be Collected Financing Receivable | Cash App Borrow Loans          
Financing Receivable, Past Due [Line Items]          
Threshold period past due (in days) 90 days   90 days    
Loan Portfolio Segment, Held For Sale | Unlikely to be Collected Financing Receivable | Square Loans          
Financing Receivable, Past Due [Line Items]          
Threshold period past due (in days) 120 days   120 days    
Customer Payment Options, Term One | Commerce enablement revenue | Afterpay Limited          
Financing Receivable, Past Due [Line Items]          
Payment period     3 months    
Customer Payment Options, Term Two | Commerce enablement revenue | Afterpay Limited          
Financing Receivable, Past Due [Line Items]          
Payment period     6 months    
Customer Payment Options, Term Three | Commerce enablement revenue | Afterpay Limited          
Financing Receivable, Past Due [Line Items]          
Payment period     12 months    
Customer Payment Options, Term Four | Commerce enablement revenue | Afterpay Limited          
Financing Receivable, Past Due [Line Items]          
Payment period     24 months    
v3.26.1
CUSTOMER LOANS - Schedule of Loans Held for Investment by Category (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Mar. 31, 2026
Dec. 31, 2025
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Amortized cost basis $ 4,330,572   $ 3,765,818
Allowance for credit losses (581,318) $ (482,802) (382,861)
Total loans held for investment, net of allowance 3,749,254   3,382,957
Consumer      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Amortized cost basis 3,583,035   3,182,624
Allowance for credit losses (527,709) (435,018) (340,117)
Total loans held for investment, net of allowance 3,055,326   2,842,507
Commercial      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Amortized cost basis 488,860   481,757
Allowance for credit losses (32,252) (32,062) (33,602)
Total loans held for investment, net of allowance 456,608   448,155
Other      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Amortized cost basis 258,677   101,437
Allowance for credit losses (21,357) $ (15,722) (9,142)
Total loans held for investment, net of allowance $ 237,320   $ 92,295
v3.26.1
CUSTOMER LOANS - Schedule of Aging Analysis of the Amortized Cost of Consumer Loans Held for Investment (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Financing Receivable, Past Due [Line Items]    
Total amortized cost $ 4,330,572 $ 3,765,818
Consumer    
Financing Receivable, Past Due [Line Items]    
Total amortized cost 3,583,035 3,182,624
Consumer | Non-delinquent loans    
Financing Receivable, Past Due [Line Items]    
Total amortized cost 3,082,512 2,810,925
Consumer | 1 - 59 days past due    
Financing Receivable, Past Due [Line Items]    
Total amortized cost 355,382 293,088
Consumer | 60 - 89 days past due    
Financing Receivable, Past Due [Line Items]    
Total amortized cost 139,771 78,606
Consumer | 90+ days past due    
Financing Receivable, Past Due [Line Items]    
Total amortized cost $ 5,370 $ 5
v3.26.1
CUSTOMER LOANS - Schedule of Activity in Allowance for Credit Losses for Consumer Receivables (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2026
Financing Receivable, Credit Quality Indicator [Line Items]    
Beginning balance of the allowance for credit losses $ 482,802 $ 382,861
Current period provisions for expected credit losses 420,288 771,094
Write-offs charged against the allowance (349,183) (627,504)
Recoveries of amounts previously written off 27,411 54,867
Ending balance of the allowance for credit losses 581,318 581,318
Consumer    
Financing Receivable, Credit Quality Indicator [Line Items]    
Beginning balance of the allowance for credit losses 435,018 340,117
Current period provisions for expected credit losses 400,800 734,629
Write-offs charged against the allowance (331,868) (595,774)
Recoveries of amounts previously written off 23,759 48,737
Ending balance of the allowance for credit losses 527,709 527,709
Commercial    
Financing Receivable, Credit Quality Indicator [Line Items]    
Beginning balance of the allowance for credit losses 32,062 33,602
Current period provisions for expected credit losses 11,481 21,874
Write-offs charged against the allowance (14,943) (29,354)
Recoveries of amounts previously written off 3,652 6,130
Ending balance of the allowance for credit losses 32,252 32,252
Other    
Financing Receivable, Credit Quality Indicator [Line Items]    
Beginning balance of the allowance for credit losses 15,722 9,142
Current period provisions for expected credit losses 8,007 14,591
Write-offs charged against the allowance (2,372) (2,376)
Recoveries of amounts previously written off 0 0
Ending balance of the allowance for credit losses $ 21,357 $ 21,357
v3.26.1
CUSTOMER LOANS - Schedule of Loans Held for Sale by Category (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total $ 701,362 $ 782,966
Commercial    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total 676,750 708,512
Consumer    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total 15,145 40,735
Other    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Total $ 9,467 $ 33,719
v3.26.1
ACQUIRED INTANGIBLE ASSETS - Schedule of Acquired Intangible Assets (Details) - USD ($)
$ in Thousands
 6 Months Ended 12 Months Ended
Jun. 30, 2026
Dec. 31, 2025
Mar. 31, 2026
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Intangible Asset, Finite-Lived, Acquired [Line Items]            
Cost $ 2,166,570 $ 2,149,846        
Accumulated Amortization (966,308) (868,176)        
Net $ 1,200,262 $ 1,281,670 $ 1,245,784 $ 1,368,735 $ 1,391,242 $ 1,433,067
Technology assets            
Intangible Asset, Finite-Lived, Acquired [Line Items]            
Weighted Average Estimated Useful Life 5 years 5 years        
Cost $ 359,008 $ 359,008        
Accumulated Amortization (323,582) (297,960)        
Net $ 35,426 $ 61,048        
Customer assets            
Intangible Asset, Finite-Lived, Acquired [Line Items]            
Weighted Average Estimated Useful Life 15 years 15 years        
Cost $ 1,418,425 $ 1,401,701        
Accumulated Amortization (442,944) (391,100)        
Net $ 975,481 $ 1,010,601        
Trade names and other            
Intangible Asset, Finite-Lived, Acquired [Line Items]            
Weighted Average Estimated Useful Life 9 years 9 years        
Cost $ 389,137 $ 389,137        
Accumulated Amortization (199,782) (179,116)        
Net $ 189,355 $ 210,021        
v3.26.1
ACQUIRED INTANGIBLE ASSETS - Schedule of Change in Carrying Value of Acquired Intangible Assets (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Finite-lived Intangible Assets [Roll Forward]        
Acquired intangible assets, net, beginning of the period $ 1,245,784 $ 1,391,242 $ 1,281,670 $ 1,433,067
Amortization expense (47,082) (48,295) (94,058) (96,625)
Foreign currency translation and other adjustments 1,560 25,788 12,650 32,293
Acquired intangible assets, net, end of the period $ 1,200,262 $ 1,368,735 $ 1,200,262 $ 1,368,735
v3.26.1
ACQUIRED INTANGIBLE ASSETS - Schedule of Future Amortization Expense of Intangible Assets (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Mar. 31, 2026
Dec. 31, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Intangible Asset, Goodwill and Other [Abstract]            
Remainder of 2026 $ 91,907          
2027 142,108          
2028 138,320          
2029 137,690          
2030 134,290          
Thereafter 555,947          
Net $ 1,200,262 $ 1,245,784 $ 1,281,670 $ 1,368,735 $ 1,391,242 $ 1,433,067
v3.26.1
OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) - Schedule of Other Current Assets (Details) - USD ($)
$ in Thousands
 1 Months Ended
Jun. 30, 2026
Dec. 31, 2025
Jun. 30, 2025
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Restricted cash $ 821,679 $ 1,071,574 $ 745,519
Processing costs receivable 484,328 448,406  
Prepaid expenses 319,556 288,707  
Investments in short-term debt securities 310,845 517,777  
Inventory, net 198,861 158,319  
Accounts receivable, net 194,432 238,207  
Other 543,574 601,746  
Total 3,574,637 4,107,702  
Proceeds from sale of a non-marketable equity security 329,800    
Loan Portfolio Segment, Held For Sale      
Accounts, Notes, Loans and Financing Receivable [Line Items]      
Loans held for sale $ 701,362 $ 782,966  
v3.26.1
OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) - Schedule of Inventory, Net (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Raw materials $ 17,917 $ 16,054
Work in process 55,421 46,791
Finished goods 125,523 95,474
Total inventory, net $ 198,861 $ 158,319
v3.26.1
OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) - Schedule of Accrued Expenses and Other Current Liabilities (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Accrued legal contingencies $ 674,575 $ 172,959
Accrued expenses 563,557 389,278
Customer deposits 387,423 297,432
Accounts payable 122,354 114,572
Processing fee payable 116,292 106,815
Operating lease liabilities, current $ 61,081 $ 55,349
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration] Total Total
Accrued transaction losses $ 59,761 $ 49,250
Accrued royalties 55,911 51,596
Other 236,097 301,642
Total $ 2,277,051 $ 1,538,893
v3.26.1
OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) - Schedule of Reserve for Transaction Losses (Details) - Transaction Losses - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Loss Contingency Accrual [Roll Forward]        
Accrued transaction losses, beginning of the period $ 59,051 $ 57,137 $ 49,250 $ 58,580
Provisions for transaction losses realized and written-off within the same period 25,976 32,071 60,077 61,479
Charge-offs to accrued transaction losses (25,266) (34,826) (49,566) (65,677)
Accrued transaction losses, end of the period $ 59,761 $ 54,382 $ 59,761 $ 54,382
v3.26.1
OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (CURRENT) - Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Cash App Transactions        
Loss Contingencies [Line Items]        
Provisions for transaction losses realized and written-off within the same period $ 91.2 $ 62.0 $ 172.5 $ 121.0
v3.26.1
OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT) - Schedule of Other Non-Current Assets (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Jun. 30, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]      
Property and equipment, net $ 293,315 $ 323,375  
Investments in long-term debt securities 225,441 188,887  
Operating lease right-of-use assets $ 134,952 $ 214,929  
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration] Other non-current assets Other non-current assets  
Investment in non-marketable equity securities $ 103,366 $ 423,198  
Restricted cash 71,911 73,786 $ 75,013
Other 220,099 257,853  
Other non-current assets $ 1,049,084 $ 1,482,028  
v3.26.1
OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT) - Schedule of Adjustments of Non-Marketable Equity Securities (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Equity Securities without Readily Determinable Fair Value [Roll Forward]        
Carrying amount, beginning of period $ 88,112 $ 243,058 $ 423,198 $ 245,557
Net reductions 15,254 3,500 (314,544) 1,001
Gross unrealized losses and impairments 0 0 (5,288) 0
Carrying amount, end of period $ 103,366 $ 246,558 $ 103,366 $ 246,558
v3.26.1
OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT) - Schedule of Non-Marketable Equity Securities (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Upward adjustments $ 6,155 $ 326,970
Downward adjustments and impairments $ (7,349) $ (2,061)
v3.26.1
OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT) - Schedule of Other Non-Current Liabilities (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Operating lease liabilities, non-current $ 227,718 $ 257,126
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration] Total Total
Deferred tax liabilities $ 9,526 $ 1,173
Other 119,480 123,546
Total $ 356,724 $ 381,845
v3.26.1
BITCOIN - Narrative (Details)
$ in Millions
Jun. 30, 2026
USD ($)
bitcoin
Mar. 31, 2026
bitcoin
Dec. 31, 2025
USD ($)
bitcoin
Jun. 30, 2025
bitcoin
Mar. 31, 2025
bitcoin
Dec. 31, 2024
bitcoin
Crypto Asset, Holding [Line Items]            
Number of bitcoins (in bitcoin) 9,117 9,032 8,883 8,692 8,584 8,485
Crypto-Asset, Investing Purposes            
Crypto Asset, Holding [Line Items]            
Number of bitcoins (in bitcoin) 9,117   8,883      
Bitcoin, purchase value | $ $ 310.2   $ 292.6      
Crypto-Asset, Operating Purposes            
Crypto Asset, Holding [Line Items]            
Number of bitcoins (in bitcoin) 299   238      
Bitcoin, purchase value | $ $ 19.5   $ 20.0      
v3.26.1
BITCOIN - Schedule of Changes in Bitcoin Investment (Details)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
USD ($)
bitcoin
Mar. 31, 2026
USD ($)
bitcoin
Jun. 30, 2025
USD ($)
bitcoin
Mar. 31, 2025
USD ($)
bitcoin
customer
Jun. 30, 2026
USD ($)
bitcoin
Jun. 30, 2025
USD ($)
bitcoin
Amount of bitcoin            
Amount of bitcoin, beginning balance (in Bitcoin) | bitcoin 9,032 8,883 8,584 8,485 8,883 8,485
Additions (in Bitcoin) 85 149 108 99    
Amount of bitcoin, ending balance (in Bitcoin) | bitcoin 9,117 9,032 8,692 8,584 9,117 8,692
Value            
Value, beginning balance $ 617,290 $ 777,515 $ 708,450 $ 792,282 $ 777,515 $ 792,282
Additions 5,050 12,593 11,041 9,519    
Remeasurement (loss) gain (88,474) (172,818) 212,165 (93,351) (261,292) 118,814
Value, ending balance $ 533,866 $ 617,290 $ 931,656 $ 708,450 $ 533,866 $ 931,656
v3.26.1
INDEBTEDNESS - Schedule of Net Carrying Amount of Convertible Notes (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Debt Instrument [Line Items]    
Principal Outstanding $ 5,775,000 $ 7,350,000
Unamortized Debt Issuance Costs (54,431) (60,982)
Total 5,720,569 7,289,018
2026 Senior Notes | Senior Notes    
Debt Instrument [Line Items]    
Principal Outstanding   1,000,000
Unamortized Debt Issuance Costs   (1,173)
Total   998,827
2030 Senior Notes | Senior Notes    
Debt Instrument [Line Items]    
Principal Outstanding 1,200,000 1,200,000
Unamortized Debt Issuance Costs (13,087) (14,467)
Total 1,186,913 1,185,533
2031 Senior Notes | Senior Notes    
Debt Instrument [Line Items]    
Principal Outstanding 1,000,000 1,000,000
Unamortized Debt Issuance Costs (6,932) (7,628)
Total 993,068 992,372
2032 Senior Notes | Senior Notes    
Debt Instrument [Line Items]    
Principal Outstanding 2,000,000 2,000,000
Unamortized Debt Issuance Costs (20,842) (22,266)
Total 1,979,158 1,977,734
2033 Senior Notes | Senior Notes    
Debt Instrument [Line Items]    
Principal Outstanding 1,000,000 1,000,000
Unamortized Debt Issuance Costs (11,772) (12,419)
Total 988,228 987,581
2026 Convertible Notes | Convertible Debt    
Debt Instrument [Line Items]    
Principal Outstanding   575,000
Unamortized Debt Issuance Costs   (568)
Total   574,432
2027 Convertible Notes | Convertible Debt    
Debt Instrument [Line Items]    
Principal Outstanding 575,000 575,000
Unamortized Debt Issuance Costs (1,798) (2,461)
Total $ 573,202 $ 572,539
v3.26.1
INDEBTEDNESS - Schedule of Interest Expense on Convertible Notes (Details) - Convertible Debt - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Debt Instrument [Line Items]        
Contractual interest expense $ 78,131 $ 48,398 $ 157,854 $ 96,777
Amortization of debt issuance costs 3,049 2,481 6,552 5,430
Total $ 81,180 $ 50,879 $ 164,406 $ 102,207
v3.26.1
INDEBTEDNESS - Senior Unsecured Notes Narrative (Details) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 01, 2026
Jun. 30, 2026
Jun. 30, 2025
May 20, 2021
Debt Instrument [Line Items]        
Outstanding principal balance   $ 1,000,000 $ 0  
Senior Unsecured Notes | Senior Notes        
Debt Instrument [Line Items]        
Aggregate principal amount       $ 2,000,000
Outstanding principal balance $ 1,000,000      
2026 Senior Notes | Senior Notes        
Debt Instrument [Line Items]        
Aggregate principal amount       $ 1,000,000
Interest rate (as percent)       2.75%
v3.26.1
INDEBTEDNESS - Convertible Notes Narrative (Details) - USD ($)
$ in Thousands
 6 Months Ended
May 01, 2026
Jun. 30, 2026
Jun. 30, 2025
Nov. 13, 2020
Debt Instrument [Line Items]        
Payment to settle debt   $ 575,000 $ 1,000,624  
2026 and 2027 Notes | Convertible Debt        
Debt Instrument [Line Items]        
Aggregate principal amount       $ 1,200,000
2026 Convertible Notes | Convertible Debt        
Debt Instrument [Line Items]        
Aggregate principal amount       $ 575,000
Interest rate (as percent)       0.00%
Payment to settle debt $ 575,000      
2027 Convertible Notes | Convertible Debt        
Debt Instrument [Line Items]        
Aggregate principal amount       $ 575,000
Interest rate (as percent)       0.25%
v3.26.1
INDEBTEDNESS - Facilities Narrative (Details) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Jan. 14, 2026
Dec. 31, 2025
2020 Credit Facility | Line of Credit | Revolving Credit Facility            
Debt Instrument [Line Items]            
Maximum borrowing capacity         $ 900,000,000 $ 775,000,000
Debt covenant, minimum quarterly liquidity amount         $ 250,000,000  
Amounts drawn to date $ 0   $ 0      
Letters of credit outstanding 0   $ 0      
2020 Credit Facility | Line of Credit | Revolving Credit Facility | Secured Overnight Financing Rate (SOFR)            
Debt Instrument [Line Items]            
Basis spread on variable rate (as percent)     1.00%      
2020 Credit Facility | Line of Credit | Revolving Credit Facility | Federal Funds Rate            
Debt Instrument [Line Items]            
Basis spread on variable rate (as percent)     0.50%      
2020 Credit Facility | Line of Credit | Revolving Credit Facility | Prime Rate            
Debt Instrument [Line Items]            
Basis spread on variable rate (as percent)     0.50%      
2020 Credit Facility | Line of Credit | Revolving Credit Facility | Minimum            
Debt Instrument [Line Items]            
Unused commitment fee percentage     0.10%      
2020 Credit Facility | Line of Credit | Revolving Credit Facility | Minimum | Secured Overnight Financing Rate (SOFR)            
Debt Instrument [Line Items]            
Basis spread on variable rate (as percent)     1.25%      
Additional basis spread on variable rate (as percent)     0.25%      
2020 Credit Facility | Line of Credit | Revolving Credit Facility | Minimum | Federal Funds Rate            
Debt Instrument [Line Items]            
Additional basis spread on variable rate (as percent)     0.25%      
2020 Credit Facility | Line of Credit | Revolving Credit Facility | Minimum | Prime Rate            
Debt Instrument [Line Items]            
Additional basis spread on variable rate (as percent)     0.25%      
2020 Credit Facility | Line of Credit | Revolving Credit Facility | Maximum            
Debt Instrument [Line Items]            
Unused commitment fee percentage     0.20%      
2020 Credit Facility | Line of Credit | Revolving Credit Facility | Maximum | Secured Overnight Financing Rate (SOFR)            
Debt Instrument [Line Items]            
Basis spread on variable rate (as percent)     1.75%      
Additional basis spread on variable rate (as percent)     0.75%      
2020 Credit Facility | Line of Credit | Revolving Credit Facility | Maximum | Federal Funds Rate            
Debt Instrument [Line Items]            
Additional basis spread on variable rate (as percent)     0.75%      
2020 Credit Facility | Line of Credit | Revolving Credit Facility | Maximum | Prime Rate            
Debt Instrument [Line Items]            
Additional basis spread on variable rate (as percent)     0.75%      
Warehouse Funding Facilities | Secured Debt | Line of Credit            
Debt Instrument [Line Items]            
Maximum borrowing capacity 1,500,000,000   $ 1,500,000,000      
Amounts drawn to date 1,200,000,000   1,200,000,000      
Remaining borrowing capacity 342,500,000   342,500,000      
Interest expense $ 16,300,000 $ 10,900,000 $ 28,800,000 $ 25,800,000    
v3.26.1
INDEBTEDNESS - Schedule of Amounts Drawn on Facilities by Year of Maturity (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Debt Instrument [Line Items]    
Total $ 5,720,569 $ 7,289,018
Warehouse funding facilities, current 572,388 $ 466,942
Secured Debt | Warehouse Funding Facilities | Line of Credit    
Debt Instrument [Line Items]    
2026 221,407  
2027 640,537  
2028 300,000  
Total 1,161,944  
Warehouse funding facilities, current $ 351,000  
v3.26.1
INCOME TAXES (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Income Tax Disclosure [Abstract]        
Income tax expense (benefit) $ 214,407 $ 121,048 $ 130,425 $ 159,376
Income (loss) before income tax $ 301,476 $ 659,382 $ (91,101) $ 886,432
v3.26.1
STOCKHOLDERS' EQUITY - Stock Plans and Restricted Stock - Narrative (Details)
shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
USD ($)
shares
Mar. 31, 2026
USD ($)
shares
Jun. 30, 2025
USD ($)
shares
Mar. 31, 2025
USD ($)
shares
Jun. 30, 2026
USD ($)
plan
shares
Nov. 30, 2025
USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Repurchases of common stock $ 61,947 $ 639,988 $ 692,204 $ 445,298    
Remaining authorized repurchase amount $ 4,600,000       $ 4,600,000  
Number of share-based compensation plans | plan         2  
2015 Equity Incentive Plan            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Shares available for future issuance (in shares) | shares 15,500       15,500  
2025 Stock Option Plan            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Number of shares reserved (in shares) | shares 80,000       80,000  
Shares available for future issuance (in shares) | shares 49,300       49,300  
Class A and B common stock            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Stock repurchase program, authorized amount           $ 9,000,000
Repurchase of common stock (in shares) | shares 945 10,700 12,463 6,805 11,600  
Repurchases of common stock         $ 700,900  
Class A and B common stock | Class A            
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]            
Stock Repurchase Program, Additional Authorized Amount           $ 5,000,000
v3.26.1
STOCKHOLDERS' EQUITY - Schedule of Stock Option Activity (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 6 Months Ended 12 Months Ended
Jun. 30, 2026
Dec. 31, 2025
Number of Stock Options Outstanding    
Outstanding, beginning of the year (in shares) 3,757  
Granted (in shares) 0  
Exercised (in shares) (18)  
Forfeited (in shares) (266)  
Expired (in shares) (11)  
Outstanding, end of the period (in shares) 3,462 3,757
Weighted Average Exercise Price    
Beginning balance (in USD per share) $ 69.29  
Granted (in USD per share) 0  
Exercised (in USD per share) 53.68  
Forfeited (in USD per share) 58.19  
Expired (in USD per share) 65.60  
Ending balance (in USD per share) $ 70.24 $ 69.29
Additional Disclosures    
Outstanding, weighted average remaining contractual term (in years) 6 years 6 months 14 days 6 years 11 months 12 days
Outstanding, aggregate intrinsic value $ 53,448 $ 29,151
Exercisable, end of the period (in shares) 2,212  
Exercisable, end of the period, weighted average exercise price (in USD per share) $ 76.76  
Exercisable, end of the period, weighted average remaining contractual term 5 years 4 months 24 days  
Exercisable, end of the period, aggregate intrinsic value $ 31,838  
v3.26.1
STOCKHOLDERS' EQUITY - Schedule of Restricted Stock Awards and Restricted Stock Units Activity (Details) - RSAs and RSUs
shares in Thousands
 6 Months Ended
Jun. 30, 2026
$ / shares
shares
Number of Shares  
Unvested, beginning of the year (in shares) | shares 31,287
Granted (in shares) | shares 30,043
Vested (in shares) | shares (9,410)
Forfeited (in shares) | shares (11,941)
Unvested, end of the period (in shares) | shares 39,979
Weighted Average Grant Date Fair Value  
Unvested, beginning of the period (in USD per share) | $ / shares $ 66.31
Granted (in USD per share) | $ / shares 60.48
Vested (in USD per share) | $ / shares 66.56
Forfeited (in USD per share) | $ / shares 64.96
Unvested, end of the period (in USD per share) | $ / shares $ 62.27
v3.26.1
STOCKHOLDERS' EQUITY - Schedule of the Effect of Share-Based Compensation on the Condensed Consolidated Statements of Operations (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total $ 259,751 $ 297,341 $ 598,451 $ 612,577
Income Statement Location [Axis]: us-gaap:CostOfRevenue        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total 104 135 217 291
Income Statement Location [Axis]: us-gaap:GeneralAndAdministrativeExpense        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total 64,596 55,139 126,786 114,328
Income Statement Location [Axis]: us-gaap:ResearchAndDevelopmentExpense        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total 168,476 214,927 413,516 437,468
Income Statement Location [Axis]: us-gaap:SellingAndMarketingExpense        
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]        
Total $ 26,575 $ 27,140 $ 57,932 $ 60,490
v3.26.1
STOCKHOLDERS' EQUITY - Share-Based Compensation Narrative (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Share-Based Payment Arrangement [Abstract]        
Capitalized share-based compensation expense $ 6.1 $ 6.4 $ 13.3 $ 15.3
Unrecognized compensation cost $ 2,500.0   $ 2,500.0  
Unrecognized compensation cost related to outstanding stock options and restricted stock awards, recognition period     3 years  
v3.26.1
NET INCOME (LOSS) PER SHARE - Schedule of Basic and Diluted Net Income (loss) Per Share (Details) - USD ($)
$ / shares in Units, shares in Thousands, $ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Numerator        
Net income (loss) attributable to common stockholders $ 88,517 $ 538,458 $ (220,164) $ 728,330
Denominator        
Shares used to compute basic net income (loss) per share (in shares) 597,829 612,882 597,702 616,108
Basic net income (loss) per share(in USD per share) $ 0.15 $ 0.88 $ (0.37) $ 1.18
Numerator        
Net income (loss) attributable to common stockholders $ 88,517 $ 538,458 $ (220,164) $ 728,330
Interest expense on convertible notes 243 823 0 2,409
Net income (loss) used to compute diluted net income per share $ 88,760 $ 539,281 $ (220,164) $ 730,739
Denominator        
Shares used to compute basic net income (loss) per share (in shares) 597,829 612,882 597,702 616,108
Stock options, restricted stock, and employee stock purchase plan (in shares) 8,441 2,202 0 4,412
Convertible notes (in shares) 2,577 3,844 0 6,583
Shares used to compute diluted net income (loss) per share (in shares) 608,847 618,928 597,702 627,103
Diluted net income (loss) per share (in USD per share) $ 0.15 $ 0.87 $ (0.37) $ 1.17
v3.26.1
NET INCOME (LOSS) PER SHARE - Schedule of Antidilutive Securities Excluded from Calculation of Diluted Net Income (loss) Per Share (Details) - shares
shares in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Antidilutive securities excluded from calculation of diluted net Income per share (in shares) 48,803 53,219 50,663 49,251
Stock options, restricted stock, and employee stock purchase plan        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Antidilutive securities excluded from calculation of diluted net Income per share (in shares) 44,959 41,593 43,612 37,385
Convertible notes        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Antidilutive securities excluded from calculation of diluted net Income per share (in shares) 0 0 3,207 0
Common stock warrants        
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]        
Antidilutive securities excluded from calculation of diluted net Income per share (in shares) 3,844 11,626 3,844 11,866
v3.26.1
COMMITMENTS AND CONTINGENCIES - Narrative (Details) - USD ($)
$ in Millions
 1 Months Ended 6 Months Ended
Oct. 31, 2025
Sep. 30, 2025
Jun. 30, 2026
Jan. 31, 2025
Loss Contingencies [Line Items]        
Incremental tax payment resulting from audit       $ 71.4
Payment for income tax assessment, interest and penalties $ 42.7      
Estimate of possible liability for additional taxes, interest and penalties   $ 42.7    
Regulatory and Governmental Matters        
Loss Contingencies [Line Items]        
Estimated litigation liability     $ 526.0  
Maximum        
Loss Contingencies [Line Items]        
Estimate of possible liability for additional taxes, interest and penalties     $ 114.0  
v3.26.1
COMMITMENTS AND CONTINGENCIES - Schedule of Future Minimum Payments under the Purchase Commitments (Details)
$ in Thousands
Jun. 30, 2026
USD ($)
Commitments and Contingencies Disclosure [Abstract]  
Remainder of 2026 $ 280,143
2027 457,317
2028 386,171
2029 370,000
2030 410,000
Thereafter 392,000
Total $ 2,295,631
v3.26.1
SEGMENT AND GEOGRAPHICAL INFORMATION - Narrative (Details)
 6 Months Ended
Jun. 30, 2026
segment
Segment Reporting [Abstract]  
Number of reportable segments 2
v3.26.1
SEGMENT AND GEOGRAPHICAL INFORMATION - Schedule of Segment Reporting Information, by Segment (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Segment Reporting [Line Items]        
Revenue $ 6,617,687 $ 6,054,457 $ 12,674,534 $ 11,826,253
Less: Cost of revenue 3,451,606 3,517,927 6,599,214 7,000,120
Gross profit 3,166,081 2,536,530 6,075,320 4,826,133
Interest revenue 54,045 60,674 105,790 117,849
Amortization of acquired technology assets 12,805 14,404 25,622 29,078
Commerce enablement revenue        
Segment Reporting [Line Items]        
Revenue 3,341,571 2,898,302 6,280,041 5,465,277
Financial solutions revenue        
Segment Reporting [Line Items]        
Revenue 1,382,368 984,553 2,704,353 1,859,564
Bitcoin ecosystem revenue        
Segment Reporting [Line Items]        
Revenue 1,893,748 2,171,602 3,690,140 4,501,412
Operating Segments | Cash App        
Segment Reporting [Line Items]        
Revenue 4,020,683 3,844,928 7,891,389 7,723,942
Less: Cost of revenue 2,047,680 2,344,428 4,010,252 4,843,491
Gross profit 1,973,003 1,500,500 3,881,137 2,880,451
Interest revenue 44,251 50,126 87,624 99,364
Amortization of acquired technology assets 11,672 12,897 23,343 26,063
Operating Segments | Square        
Segment Reporting [Line Items]        
Revenue 2,503,563 2,166,275 4,615,885 4,018,435
Less: Cost of revenue 1,343,327 1,139,464 2,474,099 2,093,726
Gross profit 1,160,236 1,026,811 2,141,786 1,924,709
Interest revenue 9,794 10,548 18,166 18,485
Amortization of acquired technology assets 1,133 1,507 2,279 3,015
Operating Segments | Commerce enablement revenue | Cash App        
Segment Reporting [Line Items]        
Revenue 1,130,858 940,416 2,217,324 1,840,520
Operating Segments | Commerce enablement revenue | Square        
Segment Reporting [Line Items]        
Revenue 2,160,757 1,915,179 3,963,581 3,541,800
Operating Segments | Financial solutions revenue | Cash App        
Segment Reporting [Line Items]        
Revenue 1,076,907 733,457 2,116,927 1,382,929
Operating Segments | Financial solutions revenue | Square        
Segment Reporting [Line Items]        
Revenue 305,461 251,096 587,426 476,635
Operating Segments | Bitcoin ecosystem revenue | Cash App        
Segment Reporting [Line Items]        
Revenue 1,812,918 2,171,055 3,557,138 4,500,493
Operating Segments | Bitcoin ecosystem revenue | Square        
Segment Reporting [Line Items]        
Revenue 37,345 0 64,878 0
Corporate and Other        
Segment Reporting [Line Items]        
Revenue 93,441 43,254 167,260 83,876
Less: Cost of revenue 60,599 34,035 114,863 62,903
Gross profit 32,842 9,219 52,397 20,973
Interest revenue 0 0 0 0
Amortization of acquired technology assets 0 0 0 0
Corporate and Other | Commerce enablement revenue        
Segment Reporting [Line Items]        
Revenue 49,956 42,707 99,136 82,957
Corporate and Other | Financial solutions revenue        
Segment Reporting [Line Items]        
Revenue 0 0 0 0
Corporate and Other | Bitcoin ecosystem revenue        
Segment Reporting [Line Items]        
Revenue $ 43,485 $ 547 $ 68,124 $ 919
v3.26.1
SEGMENT AND GEOGRAPHICAL INFORMATION - Schedule of Reconciliation of Total Segment Profit to Income before applicable Income Taxes (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Mar. 31, 2026
Jun. 30, 2025
Mar. 31, 2025
Jun. 30, 2026
Jun. 30, 2025
Segment Reporting [Abstract]            
Total segment gross profit $ 3,133,239   $ 2,527,311   $ 6,022,923 $ 4,805,160
Add: Corporate and other gross profit 32,842   9,219   52,397 20,973
Less: Product development 608,660   725,288   1,647,533 1,485,987
Less: Sales and marketing 664,955   549,731   1,315,463 1,054,191
Less: General and administrative 825,869   449,237   1,683,433 941,034
Less: Transaction, loan, and consumer receivable losses 585,450   294,090   1,085,575 463,779
Less: Amortization of customer and other intangible assets 34,277   33,891   68,436 67,547
Less: Interest expense, net 55,721   23,687   108,916 40,930
Less: Remeasurement loss (gain) on bitcoin investment 88,474 $ 172,818 (212,165) $ 93,351 261,292 (118,814)
Less: Other expense (income), net 1,199   13,389   (4,227) 5,047
Income (loss) before income tax $ 301,476   $ 659,382   $ (91,101) $ 886,432
v3.26.1
SEGMENT AND GEOGRAPHICAL INFORMATION - Schedule of Revenue by Geographic Area (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue and Long-Lived Asset [Line Items]        
Total $ 6,617,687 $ 6,054,457 $ 12,674,534 $ 11,826,253
United States        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue and Long-Lived Asset [Line Items]        
Total 6,025,374 5,562,423 11,556,124 10,910,053
International        
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue and Long-Lived Asset [Line Items]        
Total $ 592,313 $ 492,034 $ 1,118,410 $ 916,200
v3.26.1
SEGMENT AND GEOGRAPHICAL INFORMATION - Schedule of Long-lived Assets by Geographic Area (Details) - USD ($)
$ in Thousands
Jun. 30, 2026
Dec. 31, 2025
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue and Long-Lived Asset [Line Items]    
Total $ 13,595,525 $ 13,668,992
United States    
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue and Long-Lived Asset [Line Items]    
Total 7,110,540 7,281,727
Australia    
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue and Long-Lived Asset [Line Items]    
Total 4,594,669 4,453,807
Other international    
Segment Reporting, Entity-Wide Information Not Provided as Part of Reportable Segment, Geographical Area, Revenue and Long-Lived Asset [Line Items]    
Total $ 1,890,316 $ 1,933,458
v3.26.1
SUPPLEMENTAL CASH FLOW INFORMATION - (Details) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Supplemental cash flow data:    
Cash paid for interest $ 189,690 $ 113,270
Cash paid for income taxes 121,029 107,357
Supplemental disclosures of non-cash investing and financing activities:    
Unsettled originations of consumer receivables 209,926 229,822
Right-of-use assets obtained in exchange for operating lease obligations 212 3,797
Purchases of property and equipment in accounts payable and accrued expenses $ 10,757 $ 8,120
v3.26.1
RESTRUCTURING - Narrative (Details) - USD ($)
$ in Thousands
 1 Months Ended 6 Months Ended
Feb. 28, 2026
Jun. 30, 2026
Restructuring Cost and Reserve [Line Items]    
Restructuring charges   $ 495,000
Severance and Other Personnel Costs    
Restructuring Cost and Reserve [Line Items]    
Restructuring charges   $ 386,023
Severance and Other Personnel Costs | Workforce Plan    
Restructuring Cost and Reserve [Line Items]    
Restructuring, percentage of positions eliminated 40.00%  
v3.26.1
RESTRUCTURING - Schedule of Restructuring and Related Costs (Details)
$ in Thousands
 6 Months Ended
Jun. 30, 2026
USD ($)
Restructuring Cost and Reserve [Line Items]  
Total $ 495,000
Severance and Other Personnel Costs  
Restructuring Cost and Reserve [Line Items]  
Total 495,012
Income Statement Location [Axis]: us-gaap:GeneralAndAdministrativeExpense | Severance and Other Personnel Costs  
Restructuring Cost and Reserve [Line Items]  
Total 101,573
Income Statement Location [Axis]: us-gaap:ResearchAndDevelopmentExpense | Severance and Other Personnel Costs  
Restructuring Cost and Reserve [Line Items]  
Total 345,603
Income Statement Location [Axis]: us-gaap:SellingAndMarketingExpense | Severance and Other Personnel Costs  
Restructuring Cost and Reserve [Line Items]  
Total $ 47,836
v3.26.1
RESTRUCTURING - Schedule of Restructuring Reserve by Type of Cost (Details) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
Jun. 30, 2026
Jun. 30, 2025
Restructuring Cost and Reserve [Line Items]        
Charges     $ 495,000  
Stock-based compensation expense $ 259,751 $ 297,341 598,451 $ 612,577
Severance and other termination benefits        
Restructuring Cost and Reserve [Line Items]        
Charges     386,023  
Payments     (367,088)  
Accrued liability, end of period $ 18,935   18,935  
Stock-based compensation expense     $ 104,700