Block, Inc Q3 results

4 November 2022

ThinkSmart Limited

 ("ThinkSmart" or the "Company" which together with its subsidiaries is the "Group")

Block, Inc Q3 results

ThinkSmart Limited (AIM: TSL), a leading digital payment solutions provider, is pleased to note the third quarter earnings report issued by Block, Inc (NYSE: SQ) ("Block") which outlines significant ongoing growth.

ThinkSmart holds a position of 618,750 shares in Block, which based on a closing price of US$53.91 on 3 November 2022 is valued at US$33.36m. 

The following is an extract from Block's shareholder letter:

"We delivered strong growth at scale during the third quarter of 2022. Gross profit grew 38% year over year to $1.57 billion, up 46% on a three-year compound annual growth rate (CAGR) basis. Excluding our BNPL platform, gross profit was $1.42 billion, up 25% year over year and 42% on a three-year CAGR basis. Our Cash App ecosystem delivered gross profit of $774 million, an increase of 51% year over year and, excluding our BNPL platform, 37% year over year. Our Square ecosystem delivered gross profit of $783 million, an increase of 29% year over year and, excluding our BNPL platform, 17% year over year."

The shareholder letter can be found at:

https://s29.q4cdn.com/628966176/files/doc_financials/2022/q3/Block_Shareholder-Letter-3Q22.pdf

For further information please contact:

Notes to Editors

About ThinkSmart Limited

ThinkSmart's roots are as a specialist digital payments platform business. Following the sale of its remaining 10% shareholding in Clearpay in January 2022, the Group holds shares in NYSE listed Block, Inc (NYSE: SQ). The Group also provides an outsourced call centre customer service and support service to Clearpay and is managing the wind-down of its leasing business.