bloc k q1 2024 27
safe harbor statement
This letter contains “forward-looking statements” within the
meaning of the Safe Harbor provisions of the U.S. Private
Securities Litigation Reform Act of 1995. All statements other
than statements of historical fact could be deemed forward-
looking, including, but not limited to, statements regarding the
future performance of Block, Inc. and its consolidated
subsidiaries (the Company); the Company’s strategies,
including expected impact of such strategies on our
customers, actives, and sellers as well as our business and
financial performance, expected financial results, guidance,
and general business outlook for current and future periods;
the Company’s integration of Afterpay, and its impacts on the
Company’s business and financial results; future profitability
and growth in the Company’s businesses and products and
the Company’s ability to drive such profitability and growth;
the Company’s expectations regarding scale, economics, and
the demand for or benefits from its products, product
features, and services; the Company’s product development
plans; the ability of the Company’s products to attract and
retain customers, particularly in new or different markets or
demographics; trends in the Company’s markets and the
continuation of such trends; the Company’s expectations and
intentions regarding future expenses, including future
transaction and loan losses and the Company’s estimated
reserves for such losses; the Company’s bitcoin investments
and strategy as well as the potential financial impact and
volatility; and management’s statements related to business
strategy, plans, investments, opportunities, and objectives for
future operations. In some cases, forward-looking statements
can be identified by terms such as “may,” “will,” “appears,”
“should,” “expects,” “plans,” “anticipates,” “could,” “intends,”
“target,” “projects,” “contemplates,” “believes,” “estimates,”
“predicts,” “potential,” or “continue,” or the negative of these
words or other similar terms or expressions that concern our
expectations, strategy, plans, or intentions.
Such statements are subject to a number of known and
unknown risks, uncertainties, assumptions, and other factors
that may cause the Company’s actual results, performance, or
achievements to differ materially from results expressed or
implied in this letter. Investors are cautioned not to place undue
reliance on these statements, and reported results should not
be considered as an indication of future performance.
Risks tht contribute to the uncertin nture of the forwrd-
looking sttements include, mong others, continued or
prolonged economic downturn in the United Sttes nd in
other countries round the world; the Compny’s investments
in its business nd bility to mintin profitbility; the
Compny’s efforts to expnd its product portfolio nd mrket
rech; the Compny’s bility to develop products nd services
to ddress the rpidly evolving mrket for pyments nd
finncil services; the Compny’s bility to del with the
substntil nd incresingly intense competition in its
industry; cquisitions, strtegic investments, entries into new
businesses, joint ventures, divestitures, nd other
trnsctions tht the Compny my undertke; the
integrtion of Afterpy; the Compny’s bility to ensure the
integrtion of its services with vriety of operting systems
nd the interoperbility of its technology with tht of third
prties; the Compny’s bility to retin existing customers,
ttrct new customers, nd increse sles to ll customers;
the Compny’s dependence on pyment crd networks nd
cquiring processors; the effect of extensive regultion nd
oversight relted to the Compny’s business in vriety of
res; risks relted to the bnking ecosystem, including
through our bnk prtnerships, nd FDIC nd other regultory
obligtions; the effect of mngement chnges nd business
inititives; the libilities nd loss potentil ssocited with
new products, product fetures, nd services; litigtion,
including intellectul property clims, government
investigtions or inquiries, nd regultory mtters or
disputes; doption of the Compny’s products nd services in
interntionl mrkets; chnges in politicl, business, nd
economic conditions; s well s other risks listed or described
from time to time in the Compny’s filings with the Securities
nd Exchnge Commission (the SEC), including the
Compny’s Annul Report on Form 10-K for the fiscl yer
ended December 31, 2023, which re on file with the SEC nd
vilble on the Investor Reltions pge of the Compny’s
website. Additionl informtion will lso be set forth in the
Compny’s Qurterly Report on Form 10-Q for the qurter
ended Mrch 31, 2024. All forwrd-looking sttements
represent mngement's current expecttions nd
predictions regrding trends ffecting the Compny’s
business nd industry nd re bsed on informtion nd
estimtes vilble to the Compny t the time of this letter
nd re not gurntees of future performnce. Except s
required by lw, the Compny ssumes no obligtion to
updte ny of the sttements in this letter.