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(FY, 2017)

$252.7 M

Market capitalization(2018-04-23)

$19.1 B

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

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Key People/Management at Square

Jack Dorsey

CEO

Sarah Friar

CFO

Hillary Smith

General Counsel

Jesse Dorogusker

Hardware Lead

Brian Grassadonia

Square Cash Lead

Sam Quigley

Risk and Security Lead

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Square Office Locations

Square has offices in Boston, New York, Portland, Miami and in 17 other locations

San Francisco, US (HQ)

1455 Market Street

New York, US

375 W Broadway (at Broome St)

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Square Financials and Metrics

Square Financials

Square's revenue was reported to be $252.66 m in FY, 2017

Summary

USD
Revenue (FY, 2017)	252.7 m
Gross profit (FY, 2017)	(1.1 b)
Gross profit margin (FY, 2017), %	(444.2%)
Net income (FY, 2017)	(62.8 m)
EBIT (FY, 2017)	(54.2 m)
Market capitalization (23-Apr-2018)	19.1 b
Cash (31-Dec-2017)	696.5 m
EV	18.8 b

Square's current market capitalization is $19.1 b.

Source: SEC Filings

Income Statement

Annual

USD	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Revenue	850.2 m	1.3 b	1.7 b	252.7 m
Revenue growth, %	54%	49%	35%
Cost of goods sold	624.1 m	897.1 m	1.1 b	1.4 b
Gross profit	226.1 m	370 m	576 m	(1.1 b)

Quarterly

USD	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q3, 2017
Revenue	250.6 m	310 m	332.2 m	379.3 m	438.5 m	439 m	461.6 m	551.5 m	585.2 m
Cost of goods sold	176.3 m	219.7 m	235.9 m	269 m	289.6 m	288.7 m	288.1 m	344.1 m	366.5 m
Gross profit	74.3 m	90.3 m	96.3 m	110.2 m	149 m	150.3 m	173.4 m	207.4 m	218.6 m
Gross profit Margin, %	30%	29%	29%	29%	34%	34%	38%	38%	37%

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Source: SEC Filings

Balance Sheet

Annual

USD	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Cash	225.3 m	470.8 m	452 m	696.5 m
Accounts Receivable	144.8 m	179.2 m	325.3 m
Current Assets	409.9 m	705.6 m	1 b	1.8 b
PP&E	63.7 m	87.2 m	88.3 m	91.5 m

Quarterly

USD	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q3, 2017
Cash	370.6 m	342.4 m	437.9 m	704.5 m	717 m	658.4 m
Accounts Receivable	237.2 m	225.8 m	242.1 m	266.1 m	309 m	587.6 m
Current Assets	720.1 m	721 m	843 m	1.3 b	1.4 b	1.7 b
PP&E	89 m	86.3 m	90 m	91 m	87.4 m	88.7 m

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Cash Flow

Annual

USD	FY, 2014	FY, 2015	FY, 2016	FY, 2017
Net Income	(154.1 m)	(179.8 m)	(171.6 m)	(62.8 m)
Depreciation and Amortization	18.6 m	27.6 m	37.7 m	37.3 m
Accounts Payable	179 k	7.8 m	(2.1 m)	4.5 m
Cash From Operating Activities	(112.4 m)	21.1 m	23.1 m	127.7 m

Quarterly

USD	Q1, 2015	Q2, 2015	Q3, 2015	Q1, 2016	Q2, 2016	Q3, 2016	Q1, 2017	Q2, 2017	Q3, 2017
Net Income	(48 m)	(77.6 m)	(131.5 m)	(96.8 m)	(124.1 m)	(156.4 m)	(15.1 m)	(31.1 m)	(47.2 m)
Depreciation and Amortization	5.5 m	12 m	18.5 m	9.1 m	18.1 m	27.8 m	9.4 m	18.6 m	27.6 m
Accounts Payable	4.7 m	3.4 m	2 m	2.6 m	2.5 m	(867 k)	(1.5 m)	143 k	1.2 m
Cash From Operating Activities	(11 m)	(10.5 m)	3.1 m	(13.7 m)	(32.5 m)	23.2 m	44 m	90.6 m	130.3 m

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Ratios

USD	Y, 2017
EV/EBIT	-346.1 x
EV/CFO	146.9 x
Revenue/Employee	136.4 k
Financial Leverage	2.8 x

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Square Operating Metrics

	FY, 2014	Q1, 2015	Q2, 2015	Q3, 2015	FY, 2015	Q1, 2016	Q2, 2016	Q3, 2016	FY, 2016	Q1, 2017	Q2, 2017	Q3, 2017	FY, 2017
Gross Payment Volume	$23.78 b	$7.12 b	$8.79 b	$9.54 b	$35.64 b	$10.29 b	$12.45 b	$13.25 b	$49.68 b	$13.65 b	$16.42 b	$17.39 b	$65.30 b
Transactions					712 m				1 b				1.40 b
Active Cards					190 m				245 m				287 m
Patents Issued					133				229				379

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Square Acquisitions / Subsidiaries

Acquired Company	Date	Deal Size
Square Capital, LLC
Caviar, Inc.
Zesty, Inc. (87)	April 19, 2018
OrderAhead	March 01, 2017
Storehouse	June 14, 2016
Framed Data (13)	March 14, 2016
Fastbite	April 08, 2015
Kili	March 11, 2015
Caviar	August 04, 2014	$90 m
BookFresh	February 26, 2014