{
  "docId": "019dd923-5efe-75c0-8dff-97f270d783a1",
  "docSlug": "ba2e15ec65222fb9",
  "documentTitle": "2025 Investor Day Financial Outlook",
  "authorId": "Block",
  "authorName": "Block",
  "documentKindSlug": "consulting-deck",
  "documentKindLabel": "Consulting deck",
  "sourceTypeSlug": "strategy_consulting",
  "sourceTypeLabel": "Strategy consulting",
  "presentationDate": null,
  "orientation": "landscape",
  "aspectRatio": 1.777,
  "pageNumber": 46,
  "pageCount": 48,
  "prevPage": 45,
  "nextPage": 47,
  "slideType": "appendix_disclosure",
  "function": "appendix",
  "density": "balanced",
  "nDataPoints": 0,
  "notes": null,
  "elementsJson": [
    "paragraph"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-5efe-75c0-8dff-97f270d783a1/46",
  "deckHref": "/decks/019dd923-5efe-75c0-8dff-97f270d783a1",
  "deckJsonHref": "/decks/019dd923-5efe-75c0-8dff-97f270d783a1.json",
  "deckAnchorHref": "/decks/019dd923-5efe-75c0-8dff-97f270d783a1#slide-46",
  "components": [
    {
      "bbox": {
        "h": 0.25,
        "w": 0.28,
        "x": 0.05,
        "y": 0.29
      },
      "kind": "paragraph",
      "text": "Gross Receivables is the period-end total outstanding balance of customer loans and consumer receivables related to Cash App lending. Margin for Borrow and BNPL is calculated as gross profit less risk loss and other processing costs. Margin as a % of Originations Volume is calculated as Borrow margin plus BNPL margin divided by originations volume.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1645740a-925b-47dd-b79a-6c193ac426bc",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.28,
        "x": 0.36,
        "y": 0.29
      },
      "kind": "paragraph",
      "text": "New Volume Added (NVA) is the GPV processed, or expected to be processed, by new sellers during their first 12 months on Square. Primary Banking Active is a Cash App account that receives inflows from ACH or certain original credit transactions. Product Adoption Cohort are Square sellers grouped by the number of distinct products they actively used during Q3 2025.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "71a9ff2e-aed4-45ac-8351-4ad2c907dbe6",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.25,
        "w": 0.28,
        "x": 0.67,
        "y": 0.29
      },
      "kind": "paragraph",
      "text": "Return on Equity (ROE) is calculated as Margin divided by Gross Receivables less debt drawn from our warehouses. Return on Investment (ROI) or Payback Period measures the effectiveness of acquisition sales & marketing spend. Return on Invested Capital (ROIC) is calculated as Margin divided by gross receivables.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "7ec04578-b29c-4d72-af30-a88ea1082254",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.06,
        "w": 0.18,
        "x": 0.05,
        "y": 0.13
      },
      "kind": "title",
      "text": "Appendix",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "41ce2097-d7c0-44fd-8a06-a3116beba64d",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}