What specific factors led Block to raise its 2025 gross profit guidance in the November 6, 2025, EX-99.1 filing?

Block (US:XYZ) raised its 2025 gross profit guidance in its November 6, 2025, EX-99.1 filing primarily due to strong execution and overall business strength observed across both its Square and Cash App ecosystems. The company explicitly stated that the raised guidance reflects its third-quarter outperformance and increased expectations for the fourth quarter of 2025.1

Key contributing factors highlighted in the filing include:

• Accelerated Growth in Core Segments: Both Square and Cash App demonstrated strong momentum. Square's Gross Payment Volume (GPV) growth accelerated, with notable strength from food and beverage and retail sellers.1
• Cash App Engagement and Profitability: Cash App saw a significant increase in gross profit per monthly transacting active, alongside a rise in overall monthly transacting actives, including primary banking actives.1
• Strategic Investments Yielding Results: Continued investments in products like Cash App Borrow and Buy Now, Pay Later (BNPL) contributed to deeper customer engagement.1
• New Product Launches and Innovation: The launch of new products and sustained investment in go-to-market efforts across both segments, along with the first revenue generation from "Proto," underscored the company's velocity and innovation.2

These factors collectively led Block to anticipate higher gross profit for the full year 2025, reflecting a more than 15% year-over-year growth.1