While Block works to fix its corporate challenges including a recently announced and much-needed expense reduction program, Square continues to demonstrate steady (though not spectacular) progress in the organic international expansion of its core merchant products, which achieved $380M of annualized gross profit in the most recent quarter.
Square becoming more visible in key European markets, including UK, FR, and ES, though not yet disruptive (small market share in each of these markets).
AfterPay results less impressive, achieving 22% YOY gross profit growth as credit conditions worsen.
International FTE now comprise c. 27% of total company FTE (25% YE ’22). The company currently 96 open LinkedIn job positions, with 46% of them being international.