XYZ — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-07

• In February 2026, we 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, we reduced our workforce by more than 40%. Restructuring charges in c…

• The following table presents a summary of severance and other personnel costs related to the Workforce Plan (in thousands):

• While timing and savings are subject to change, we expect annualized net cost savings associated with the Workforce Plan of approximately $800 million to $900 million, related to employee compensation, a portion of which we expect to strategically reinvest in the Company. We expect that we will begi…

• We ended the first quarter of 2026 with $9.1 billion in available liquidity, with $8.2 billion in cash, cash equivalents, restricted cash, and investments in marketable debt securities, as well as an undrawn amount of $900.0 million available under our revolving credit facility. This represents a de…

• 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. The goal of the program is to return capital to shareh…

Text removed vs the prior filing · source: 10-Q · 2025-11-06

• Starting in 2023, we sharpened our focus on our organizational structure and expenditures with a view to identifying areas where we can be more cost efficient as we focus on disciplined growth. In 2023, we also announced we would implement an absolute cap of 12,000 on the number of employees we have…

• During the third quarter of 2025, we issued $2.2 billion in aggregate principal amount of senior unsecured notes comprised of $1.2 billion in aggregate principal amount of senior notes due 2030 ("2030 Senior Notes") and $1.0 billion in aggregate principal amount due 2033 ("2033 Senior Notes"). We en…

• In October 2023, our board of directors authorized the repurchase of up to $1 billion of our Class A common stock. In July 2024, our board of directors authorized an increase to this share repurchase program to repurchase up to an additional $3 billion of our Class A common stock, for a total overal…

• Total net revenue for the three months ended September 30, 2025 increased by $139.2 million, or 2%, compared to the three months ended September 30, 2024 and decreased by $147.3 million, or 1%, for the nine months ended September 30, 2025, compared to the nine months ended September 30, 2024. Bitcoi…

• Transaction-based revenue for the three and nine months ended September 30, 2025 increased by $161.1 million, or 9%, and $305.0 million, or 6%, compared to the three and nine months ended September 30, 2024, respectively. Gross Payment Volume ("GPV") increased by 11% and 8% in the same periods, prim…

Text added vs the prior filing · source: 10-Q · 2026-05-07

• •our recently announced workforce reduction and related reorganization, including changes to our operating model and the potential for increased reliance on proactive intelligence and artificial intelligence tools;

• •any inability to secure financing on favorable terms, or at all;

• Our recently announced workforce reduction and related reorganization, including changes to our operating model and the potential for increased reliance on proactive intelligence and AI tools, may not achieve their intended benefits and could adversely affect our business, financial condition and re…

• In February 2026 we announced a workforce reduction restructuring plan designed to better align our organizational structure with our operating model and strategic priorities. This plan has resulted in, and we expect to continue to result in, an increased reliance on automation, proactive intelligen…

• The workforce reduction and reorganization has resulted in, and may continue to result in, disruptions to our operations and adversely affect employee morale and productivity. The departure of employees, including experienced personnel, may result in the loss of institutional knowledge and expertise…

Text removed vs the prior filing · source: 10-Q · 2025-11-06

• •any inability to secure financing on favorable terms, or at all, or comply with covenants in our existing credit agreement, the indentures, or future agreements;

• •regulatory scrutiny or changes in the buy now pay later ("BNPL") space;

• Revenue generated by our loan products such as Square Loans, as well as Cash App Borrow, and our BNPL products depends on our ability to recoup the loan amount. Loan products are generally unsecured obligations of our borrowers, and they are not guaranteed or insured in any way. Although we rely on …

• Square Loans is our commercial lending program. Adverse changes in macroeconomic conditions or the credit quality of our sellers could cause some sellers who utilize Square Loans to cease operating or to experience a decline in their payment processing volume, thereby rendering them unable to make p…

• Maintaining and growing our Square Loans business is dependent on institutional third-party investors purchasing the eligible business loans originated by us. If such third parties fail to continue to purchase such business loans or reduce the amount of future loans they purchase, then we may need t…

Text added vs the prior filing · source: 10-Q · 2026-05-07

• March 10, 2027, or earlier if all transactions are completed

• (i) Mr. McKelvey's Rule 10b5-1 trading arrangement provided for shares to be sold through the James M. McKelvey, Jr. Revocable Trust.

• (ii) Modification of the Rule 10b5-1 plan originally adopted by Mr. Eisen on February 25, 2025. Under Rule 10b5-1, such modification is treated as a termination of the original plan and entrance into a new plan as of March 2, 2026.

Text removed vs the prior filing · source: 10-Q · 2025-11-06

• * In addition to these shares, Mr. Jennings’ Rule 10b5-1 trading arrangement also contemplates the sale of shares acquired through our Employee Stock Purchase Plan, which number cannot be determined at this time.