Block, Inc. (NYSE:SQ) Q3 2024 Earnings Conference Call November 7, 2024 5:00 PM ET

Company Participants

Nikhil Dixit - Head of IR
Jack Dorsey - Block Head, Square Head, Chairman, & Co-Founder
Amrita Ahuja - COO & CFO

Conference Call Participants

Tien-Tsin Huang - JPMorgan
Timothy Chiodo - UBS
Darrin Peller - Wolfe Research
Ramsey El-Assal - Barclays
Will Nance - Goldman Sachs
Dan Dolev - Mizuho
Alex Markgraff - KBCM
Jeff Cantwell - Seaport Research
Harshita Rawat - Bernstein
Andrew Bausch - Wells Fargo
Trevor Williams - Jefferies
Andrew Jeffrey - William Blair

Operator

Good day, ladies and gentlemen, and welcome to the Block Third Quarter 2024 Earnings Conference Call. Today's call will be 45 minutes.

I would now like to turn the call over to your host, Nikhil Dixit, Head of Investor Relations. Please go ahead.

Nikhil Dixit

Hi, everyone. Thanks for joining our third quarter 2024 earnings call. We have Jack and Amrita with us today. We will begin this call with some short remarks before opening the call directly to your questions. During Q&A, we will take questions from conference call participants.

We would also like to remind everyone that we will be making forward-looking statements on this call. All statements other than statements of historical fact could be deemed to be forward-looking. These forward-looking statements include discussions of our outlook, strategy, and guidance as well as our long-term targets and goals. These statements are subject to risks and uncertainties.

Actual results could differ materially from those contemplated by our forward-looking statements. Reported results should not be considered an indication of future performance. Please take a look at our filings with the SEC for a discussion of the factors that could cause our results to differ. Also note that the forward-looking statements on this call are based on information available to us as of today's date.

We disclaim any obligation to update any forward-looking statements, except as required by law. Further discussion during this call of our lending and banking products, including those offered through our bank partners. Within these remarks, we will also discuss metrics related to our investment framework, including Rule of 40. With Rule of 40, we are evaluating the sum of our gross profit growth and adjusted operating income margin.

Also, we will discuss certain non-GAAP financial measures during this call. Reconciliations to the most directly comparable GAAP financial measures are provided in the shareholder letter and our historical financial information spreadsheet on our Investor Relations website. These non-GAAP measures are not intended to be a substitute for our GAAP results.