Square

Financial Services Technology application software ecommerce fintech mobile payments

Square is a financial services, merchant services aggregator and mobile payment company. The Company markets several software and hardware payments products, including Square Register and Square Reader. Square's complete register service is a full point of sale with tools for every part of running a business, from accepting credit cards and tracking sales and inventory to small-business financing. The Company's other services include Square Cash, the easiest way to send and receive money, and Square Order, a new way to pre-order food and drinks for pickup.

Revenue(Q1, 2017)

$403.5 M

Market capitalization(2017-08-17)

$9.2 B

Company Growth (employees)

Type

Public

San Francisco, US

Founded

2009

Size (employees)

1,853 (est)

Website

squareup.com

Square was founded in 2009 and is headquartered in San Francisco, US

Key People at Square

Jack Dorsey

Co-Founder, CEO

Sarah Friar

CFO

Jim McKelvey

Co-Founder

Gokul Rajaram

Caviar Lead

Francoise Brougher

Business Lead

Jesse Dorogusker

Hardware Lead

Brian Grassadonia

Square Cash Lead

Alyssa Henry

Seller Lead

Jacqueline Reses

Square Capital Lead & People Lead

Aaron Zamost

Communications Lead

Sam Quigley

Risk and Security Lead

Square Office Locations

Square has offices in San Francisco, New York, Waterloo, Melbourne and in 17 other locations

San Francisco, US (HQ)

1455 Market Street

New York, US

375 W Broadway (at Broome St)

Show all (22)

Square Data and Metrics

Square Financial Metrics

Square's revenue was reported to be $403.5 m in Q1, 2017

Summary

USD

Square's current market capitalization is $9.2 b.

Source: SEC Filings

Income Statement

Annual

USD	FY, 2013	FY, 2014	FY, 2015	FY, 2016
Revenue	552.4 m	850.2 m	1.3 b	1.7 b
Revenue growth, %		54%	49%	35%
Cost of goods sold	423.6 m	624.1 m	897.1 m	1.1 b
Gross profit	128.8 m	226.1 m	370 m	576 m
Gross profit Margin, %	23%	27%	29%	34%
Sales and marketing expense		112.6 m	145.6 m	173.9 m
R&D expense		144.6 m	199.6 m	268.5 m
General and administrative expense		94.2 m	143.5 m	252 m
Operating expense total	233.7 m	376.6 m	544.5 m	746.5 m
EBIT		(150.5 m)	(174.5 m)	(170.5 m)
EBIT margin, %		(18%)	(14%)	(10%)
Pre tax profit		(152.7 m)	(176.5 m)	(169.7 m)
Income tax expense		1.4 m	3.7 m	1.9 m
Net Income	(104.5 m)	(154.1 m)	(179.8 m)	(171.6 m)

Quarterly

USD	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017
Revenue	300.5 m	364.9 m	388.3 m	403.5 m
Cost of goods sold	269 m	289.6 m	288.7 m	288.1 m
Gross profit	31.4 m	75.3 m	99.7 m	115.4 m
Gross profit Margin, %	10%	21%	26%	29%
Sales and marketing expense	38.5 m	39.2 m	46.8 m	49.9 m
R&D expense	64.6 m	68.6 m	70.4 m	68.6 m
General and administrative expense	96.1 m	50.8 m	52.1 m	56.9 m
Operating expense total	199.2 m	158.6 m	169.2 m	175.4 m
EBIT	(97.1 m)	(27.4 m)	(32 m)	(14.1 m)
EBIT margin, %	(32%)	(7%)	(8%)	(3%)
Pre tax profit	(96.4 m)	(27 m)	(32.1 m)	(14.6 m)
Income tax expense	339 k	312 k	230 k	509 k
Net Income	(96.8 m)	(27.3 m)	(32.3 m)	(15.1 m)

Source: SEC Filings

Balance Sheet

Annual

USD	FY, 2016
Cash	452 m
Accounts Receivable	14.8 m
Inventories	3.4 m
Current Assets	1 b
PP&E	88.3 m
Goodwill	57.2 m
Total Assets	1.2 b
Accounts Payable	12.6 m
Current Liabilities	577.5 m
Total Liabilities	635.2 m
Additional Paid-in Capital	1.4 b
Retained Earnings	(779.2 m)
Total Equity	576.2 m
Financial Leverage	2.1 x

Quarterly

USD	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017
Cash	370.6 m	342.4 m	437.9 m	704.5 m
Current Assets	720.1 m	721 m	843 m	1.3 b
PP&E	89 m	86.3 m	90 m	91 m
Goodwill	56.7 m	56.7 m	56.7 m	58.1 m
Total Assets	945.1 m	933.3 m	1.1 b	1.6 b
Accounts Payable	19.6 m	16.2 m	13.7 m	9.8 m
Current Liabilities	449.9 m	411.5 m	486 m	554.9 m
Additional Paid-in Capital	1.1 b	1.2 b	1.3 b	1.4 b
Retained Earnings	(704.4 m)	(731.7 m)	(764.1 m)	(795 m)
Total Equity	444.9 m	471.5 m	510.4 m	627.9 m
Financial Leverage	2.1 x	2 x	2.1 x	2.5 x

Cash Flow

Annual

USD	FY, 2016
Net Income	(171.6 m)
Depreciation and Amortization	37.7 m
Accounts Payable	(2.1 m)
Cash From Operating Activities	23.1 m
Purchases of PP&E	(25.4 m)
Cash From Investing Activities	(122.7 m)
Cash From Financing Activities	90.7 m

Quarterly

USD	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017
Net Income	(96.8 m)	(27.3 m)	(32.3 m)	(15.1 m)
Accounts Payable	19.6 m	16.2 m	13.7 m	9.8 m

Ratios

USD	Y, 2017
Revenue/Employee	217.7 k
Financial Leverage	2.5 x

Square Operating Metrics

	Y, 2014	Y, 2015	Y, 2016
Payments' Volume	$23.78 b	$35.64 b	$50 b

Source: VentureBeat

Square Market Value History

Square Revenue Breakdown

Square Job Categories

Square Median Salaries

Source: 199 public H-1B filings from Square

Market Position of Square

Competitors

Stripe

Technology - Private

Adyen

Financial Services - Private

Square

Company Growth (employees)

Key People at Square

Jack Dorsey

Sarah Friar

Jim McKelvey

Gokul Rajaram

Francoise Brougher

Jesse Dorogusker

Brian Grassadonia

Alyssa Henry

Jacqueline Reses

Aaron Zamost

Sam Quigley

Square Office Locations

Square Data and Metrics

Square Financial Metrics

Summary

Revenue (Q1, 2017)

Gross profit (Q1, 2017)

Gross profit margin (Q1, 2017), %

Net income (Q1, 2017)

EBIT (Q1, 2017)

Market capitalization (17-Aug-2017)

Cash (31-Mar-2017)

Income Statement

Revenue

Revenue growth, %

Cost of goods sold

Gross profit

Gross profit Margin, %

Sales and marketing expense

R&D expense

General and administrative expense

Operating expense total

EBIT

EBIT margin, %

Pre tax profit

Income tax expense

Net Income

Revenue

Cost of goods sold

Gross profit

Gross profit Margin, %

Sales and marketing expense

R&D expense

General and administrative expense

Operating expense total

EBIT

EBIT margin, %

Pre tax profit

Income tax expense

Net Income

Balance Sheet

Cash

Accounts Receivable

Inventories

Current Assets

PP&E

Goodwill

Total Assets

Accounts Payable

Current Liabilities

Total Liabilities

Additional Paid-in Capital

Retained Earnings

Total Equity

Financial Leverage

Cash

Current Assets

PP&E

Goodwill

Total Assets

Accounts Payable

Current Liabilities

Additional Paid-in Capital

Retained Earnings

Total Equity

Financial Leverage

Cash Flow