Block (XYZ)

Outperform Recap: Q2 2026

Record Margins, a Third Straight Raise, and a 6% Drop Because Cash App Added a Rounding Error of Users

Outperform Recap: Q1 2026

The Cost Structure Arrived a Quarter Early, Growth Accelerated Anyway, and Block Finally Showed Its Loss Curve

Outperform Recap: Q4 2025

Dorsey Cuts 40% of the Company and Guides Profit Up 54%. We Upgrade, and Not Because of the Layoffs

Hold Recap: Q3 2025

Gross Profit Accelerates to 18% and the Guide Goes Up. The Stock Falls 8% on What That Growth Now Costs