Filing Flows › Block (XYZ) › Q4 2025
Block (XYZ) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 26, 2026
Block (XYZ) reported revenue of $6.3B for the fourth quarter 2025 (Q4 2025), +4% from a year earlier and +2% from the quarter before. Operating margin was 7.8%, net earnings $116M (1.9% of revenue).
Block, Q4 2025: revenue $6.3B (+4% year over year), operating margin 7.8%, net earnings $116M, operating cash flow $621M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $6.3B | +2% | +4% |
| Gross profit | $2.9B | +8% | +24% |
| Operating profit | $485M | +19% | 37× |
| Net earnings | $116M | -75% | -94% |
| Operating cash flow | $621M | -57% | 45× |
| Free cash flow | $580M | — | — |
What changed
Revenue was $6.3B in Q4 2025, up 4% year over year and up 2% from the previous quarter.
Gross margin was 45.9%, up 7.6 points from a year earlier. Operating profit was $0.49B, a 7.8% margin (up 7.5 points year over year). Of the extra revenue versus a year earlier, 215% reached operating profit, above the 0% margin then. Operating expenses grew 4% against revenue growth of 4%. The fastest-growing cost line was Other operating costs (+95%). Net earnings were $0.12B, down 94% year over year. The effective tax rate was 42.8%.
Operating cash flow was $0.62B (up 4400% year over year), 537% of net earnings. Non-cash charges added back $0.10B of depreciation and amortization and $0.29B of share-based compensation. Working capital and other items added $0.12B. After purchase of property and equipment ($0.04B), free cash flow as the company reports it was $0.58B.
Questions
What was Block's revenue in the fourth quarter 2025?
Block (XYZ) reported revenue of $6.3B for the fourth quarter 2025 (Q4 2025), +4% from a year earlier and +2% from the quarter before.
Was Block profitable in the fourth quarter 2025?
Operating profit was $485M (7.8% of revenue) and net earnings $116M.
Source: Block 10-K on SEC EDGAR.