BLOCK Investment & Profitability Ecosystem Overview
BLOCK
Appendix
Slide 55
"Free cash flow" is defined as net cash provided by (used in)
operating activities adjusted to eliminate for the effects of
settlements receivables, customers payable, settlements
payable, and PPP loans less purchase of property and
equipment. Additionally, we exclude the effects of PPP loans
as we believe the amounts are not reflective of our ongoing
operations. We include the impact of purchases of property
and equipment because we consider these capital
expenditures to be a necessary component of our ongoing
operations.
Slide 56
"Turnover", or "turnover of receivables", or "accounts
receivable turnover" is the number of times per year that
Afterpay collects its average consumer receivable.
"Loss rate" for Afterpay are Losses on Consumer Receivables,
and represents an assessment of expected credit losses over
the term of the receivables, and for Square Loans are loan
losses on loan originations, and represents an assessment of
expected credit losses over the term of the loan.
"Duration" for Square Loans represents the average length of
time for a seller to repay their loan, and for Afterpay
represents the average length of time for a consumer to
complete their final repayment on a BNPL transaction.
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