Filing Flows › Block (XYZ) › Q1 2026
Block (XYZ) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Block (XYZ) reported revenue of $6.1B for the first quarter 2026 (Q1 2026), +5% from a year earlier and -3% from the quarter before. Operating margin was -2.8%, net loss $309M (5.1% of revenue).
Block, Q1 2026: revenue $6.1B (+5% year over year), operating margin -2.8%, net loss $309M, operating cash flow $966M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.1B | -3% | +5% |
| Operating profit | −$172M | -135% | -152% |
| Net earnings | −$309M | -367% | -263% |
| Operating cash flow | $966M | +55% | +624% |
| Free cash flow | $935M | — | +822% |
What changed
Revenue was $6.1B in Q1 2026, up 5% year over year and down 3% from the previous quarter. Commerce enablement revenue was the largest line at 49% of revenue. Financial solutions revenue added $0.45B year over year (up 51%), 157% of the total change. Bitcoin ecosystem revenue declined 23%.
Gross margin was 48.0%, up 8.4 points from Q1 2025. Operating costs exceeded revenue by $0.17B, an operating margin of -2.8%. Operating expenses grew 57% against revenue growth of 5%. The fastest-growing cost line was Other operating costs (+163%). The quarter ended with a net loss of $0.31B, after a profit of $0.12B the previous quarter. Net interest and other expense of $0.22B was the main reason.
Operating cash flow was $1.0B (up 624% year over year). Non-cash charges added back $0.10B of depreciation and amortization and $0.34B of share-based compensation. Working capital and other items added $0.84B. After purchase of property and equipment ($0.03B), free cash flow as the company reports it was $0.93B.
Questions
What was Block's revenue in the first quarter 2026?
Block (XYZ) reported revenue of $6.1B for the first quarter 2026 (Q1 2026), +5% from a year earlier and -3% from the quarter before.
Was Block profitable in the first quarter 2026?
Operating loss was $172M (-2.8% of revenue) and net loss $309M.
Source: Block 10-Q on SEC EDGAR.