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      "text": "SLIDE 18\nInflows per transacting active refers to total inflows in the quarter divided by monthly actives for the last month of the quarter. Inflows refers to funds entering the Cash App ecosystem. Inflows does not include the movement of funds when funds remain in the Cash App ecosystem or inflows related to the Afterpay app.",
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      "text": "SLIDE 19\nCash App Borrow annualized net margin is calculated by taking Cash App Borrow variable profit margins on a per cohort basis and dividing it by the weighted average life of the loan cohort and multiplying by 365. We calculate Cash App Borrow variable profit as gross profit less risk loss and certain other processing costs. We calculate Cash App Borrow variable profit margin by dividing Borrow variable profit by originations.",
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      "text": "SLIDE 21\nBanking Active is defined as a Cash App account that has deposited a paycheck or spent at least $500 per month across Cash App including Cash App Card, Cash App Pay, Cash App Afterpay, and ACH bill pay for the last month of the quarter.\n\nBitcoin Account is defined as a Cash App account that has had a positive Bitcoin balance for the last month of the quarter.\n\nStock Account is defined as a Cash App account that has had a positive balance in stocks for the last month of the quarter.",
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      "text": "SLIDE 4 & 11 & 12\nSquare GPV is defined as the total dollar amount of all card and bank payments processed by sellers using Square, net of refunds. Constant currency growth is calculated by assuming international results in a given period and the comparative prior period are translated from local currencies to the U.S. dollar at rates consistent with the monthly average rates in the comparative prior period. We discuss growth on a constant currency basis because a portion of our business operates in markets outside the U.S. and is subject to changes in foreign exchange rates.",
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