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Sentiment · FY2026 Q1
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“You may have seen there's some chatter today, the company, Square is like laying off like half its workforce.”
An analyst cites Square's (Block's) large AI-driven workforce reduction as an example while asking NetApp about AI efficiency in its own development organization.
“First of all, Stripe and Square are taking deposits away from our institutions, and they're not getting them back because then they're lending to them or they're doing other things.”
Jack Henry frames Square (Block) as a competitor pulling SMB deposits away from its bank/credit-union clients.
“Block announced the pilot launch of a new Cash App Visa debit card, which enables Afterpay as a feature for their customers to pay over time anywhere Visa is accepted, and leverages Visa's DPS issuer processing solution for the debit component.”
Block's new Cash App Visa debit card uses Visa Flex and Visa's DPS issuer processing, signaling deeper Block reliance on Visa rails for its Afterpay pay-over-time feature.
“what's going out to the stripes and the squares and into the chimes and others to be able to stay within our financial institutions.”
Jack Henry cites deposits and accounts leaving its community-bank clients for fintechs like Square, framing them as share-gaining competitors to traditional FIs.
“Its now accessible on Robinhood and Square Cash App and pretty much anywhere else that you can buy a security”
Strategy's Stretch (STRC) is now accessible on Block's Square Cash App, extending retail distribution through Cash App.
“So you've talked about being meaningfully underpenetrated versus some of the peers when we look at Toast and Square, we would agree that you are well below their penetration levels in capital.”
Analyst notes Fiserv's Clover Capital penetration lags peers Toast and Square (Block), implying stronger working-capital product penetration for Square.
“Through the platform, Fiserv's Clover is partnering with us to offer SMEs discounted point-of-sale capabilities and Square is providing tailored educational programs to help small business thrive.”
Square (a Block brand) is providing tailored educational programs through Mastercard's small business navigator platform.
“In the Buy Now, Pay Later space, we signed an exclusive prepaid and credit card issuing deal with Afterpay in Australia.”
Afterpay (a Block subsidiary) signed an exclusive prepaid and credit card issuing deal with Mastercard in Australia, expanding Mastercard's BNPL footprint.
“Block will be the first company in North America to deploy the NVIDIA DGX SuperPOD with DGX GB 200 systems. By deploying at Equinix, Block can leverage our unique ecosystems to ensure data privacy, flexibility and edge connectivity to thousands of partners.”
Block is deploying its first NVIDIA DGX SuperPOD AI infrastructure at Equinix, one of several notable Q1 AI infrastructure wins Equinix highlighted.
“I'm proud that great companies like Asana, Atlassian, Block, PayPal, Century, Stripe and many more are building the interface for AI agents to work with their own platform on top of Cloudflare workers.”
Block is named as a company building its AI-agent interface on top of Cloudflare Workers.
“For Afterpay specifically, we added large partners like Fanatics and Endeavour Group, which is the largest liquor retailer in Australia.”
Block added Endeavour Group, Australia's largest liquor retailer, as a large new Afterpay merchant partner.
“For Afterpay specifically, we added large partners like Fanatics and Endeavour Group, which is the largest liquor retailer in Australia.”
Block added Fanatics as a large new Afterpay merchant partner.
“new distribution opportunities like Instacart and Target.”
Block cites Instacart as a new merchant distribution partner for Cash App Pay.
“new distribution opportunities like Instacart and Target.”
Block names Target as a new merchant distribution partner where Cash App Pay is gaining product-market fit.
“We've signed a number of new partners over the last few months, including Uber and Amazon in Australia, Hibbett and Jenni Kayne in the U.S., and we're expanding our commerce network and our advertising business.”
Afterpay signed Amazon as a new merchant partner in Australia, indicating Amazon is offering Afterpay buy-now-pay-later to Australian shoppers.
“We've signed a number of new partners over the last few months, including Uber and Amazon in Australia, Hibbett and Jenni Kayne in the U.S., and we're expanding our commerce network and our advertising business.”
Afterpay signed Uber as a new merchant partner in Australia, indicating Uber is adopting buy-now-pay-later at checkout.
“2 specific examples are Grubhub, which saw our ability to bring more of the Block assets to the partnership”
Block highlights Grubhub as a partnership where it is bringing more of its combined Square and Cash App assets, a positive signal for the Grubhub relationship.
“our internal credit model can approve 38% more customers compared to VantageScore at the same loss threshold”
Block benchmarks its proprietary Cash App credit model against VantageScore, claiming it approves 38% more customers at the same loss rate — an implied edge over the standard score.
“even a QSR like Bluestone Lane that we mentioned in our letter, it's a pretty powerful demonstration and one that, frankly, flies in the face of the of the perception Square being little reader company”
Block cites Bluestone Lane, a coffee-chain QSR customer, as proof its Square platform is winning larger food-and-beverage sellers beyond its legacy small-merchant reader business.
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Dan Dolev | Mizuho Securities | 6 (0%) |
| Tien-Tsin Huang | JPMorgan | 6 (0%) |
| Darrin Peller | Wolfe Research | 6 (0%) |
| Tim Chiodo | UBS | 6 (0%) |
| Rayna Kumar | Oppenheimer | 4 (0%) |
| Bryan Keane | Citigroup | 4 (0%) |
| Ramsey El-Assal | Cantor Fitzgerald | 4 (25%) |
| Harshita Rawat | Bernstein | 4 (25%) |
| Will Nance | Goldman Sachs | 3 (0%) |
| Jason Kupferberg | Wells Fargo | 3 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| UBS | 1 | 6 (0%) |
| JPMorgan | 1 | 6 (0%) |
| Mizuho Securities | 1 | 6 (0%) |
| Wolfe Research | 1 |
| 6 (0%) |
| Wells Fargo | 2 | 5 (0%) |
| Bernstein | 1 | 4 (25%) |
| Cantor Fitzgerald | 1 | 4 (25%) |
| Citigroup | 1 | 4 (0%) |
Block delivered Q4 gross profit growth of 24% to $2.87B as the company surpassed the Rule of 40 with adjusted operating income up 46% and a 40% workforce reduction to become AI-native. Cash App gross profit surged 33% on lending and engagement with primary banking actives accelerating to $9.3M on Cash App Green, while Borrow originations grew 3x+ year-over-year. FY2026 guidance was raised substantially relative to the November Investor Day, with adjusted operating income at $3.2B up from $2.7B.
Revenue Growth | Competitive Dynamics | Subscriber Growth | Credit | Innovation & R&D | Guidance Reliability | Product Launch | Margin | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 4 | 5 | 1 | 1 | 1 | 2 | 4 | 2 |
| 2025Q1 | 3 | 1 | 1 | 3 | 1 | 5 | 2 | 1 |
| 2025Q2 | 4 | 4 | 2 | 2 | 2 | 1 | 1 | 2 |
| 2025Q3 | 4 | 5 | 3 | 2 | 3 | 1 | ||
| 2025Q4 | 4 | 2 | 2 | 3 | 2 | 1 | 3 | |
| 2026Q1 | 4 | 2 | 3 | 1 | 3 | 1 | 2 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 4 | 3 | 4 | 4 | 4 | 4 |
| Competitive Dynamics | 5 | 1 | 4 | 5 | 2 | 2 |
| Subscriber Growth | 1 | 1 | 2 | 3 | 2 | 3 |
| Credit | 1 | 3 | 2 | 2 | 3 | 1 |
| Innovation & R&D | 1 | 1 | 2 | 3 | 2 | 3 |
| Guidance Reliability | 2 | 5 | 1 | 1 | 1 | |
| Product Launch | 4 | 2 | 1 | 1 | 2 | |
| Margin | 2 | 1 | 2 | 3 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
XYZ Block, Inc. | 8 | +4.9% | |
| ADBE Adobe Inc. | 9 | +12.7% | |
| AKAM Akamai Technologies | 6 | +5.8% | |
| CPAY Corpay | 8 | +25.4% | |
| CRWD CrowdStrike | 10 | +25.6% | |
| CRWV CoreWeave, Inc. Class A Common Stock | 8 | +111.7% | |
| FFIV F5, Inc. | 8 | +11.0% | |
| FTNT Fortinet | 10 | +20.1% | |
| GDDY GoDaddy | 7 | +6.1% | |
| GEN Gen Digital | 6 | +27.0% | |
| MSFT Microsoft Corporation | 8 | +18.3% | |
| NET Cloudflare, Inc. | 10 | +33.5% | |
| ORCL Oracle Corporation | 9 | +20.6% | |
| PANW Palo Alto Networks | 9 | +31.1% | |
| PLTR Palantir Technologies | 10 | +84.7% | |
| SNPS Synopsys | 7 | +41.9% | |
| VRSN Verisign | 7 | +6.6% | |
| ZS Zscaler | 9 | +25.4% |