Amrita Ahuja on Block’s Performance and Vision at the Goldman Sachs Communacopia + Technology Conference
At the 2025 Goldman Sachs Communacopia + Technology Conference, Block’s Foundational Lead Amrita Ahuja joined Will Nance of Goldman Sachs to discuss Block’s strong second quarter results and the company’s momentum across both Square and Cash App. Block delivered 14% gross profit growth and 22% adjusted operating income margin in the second quarter of 2025, underscoring how product velocity, expanded distribution, and deeper customer engagement are translating into sustained performance.
“Over the past year, we’ve made two major transformations across the company: moving from individual business lines to a functional model and aligning on a clear set of stack-ranked priorities,” Amrita noted. “These shifts have enabled us to move faster and increase product velocity across both Square and Cash App, and that’s beginning to show up in the strong results you saw this quarter.”
Cash App continues to scale as the financial operating system for the next generation, with 8 million actives depositing a paycheck or spending at least $500 in June, up 16% year over year. The business added nearly 100,000 new direct deposit customers in July of this year - reaching 2.8M paycheck deposit actives - and also added new features like Pools, stronger banking tools, and rapid adoption among teens and families are driving network expansion and engagement.
Square saw its highest-ever quarter of new volume added in the second quarter, driven by both self-onboarding and growing momentum from field sales investments. A range of product launches including Square AI, Square Handheld, and an updated Square Online show how quickly the platform is evolving.
Looking ahead, Amrita highlighted Proto - Block’s bitcoin hardware business - which remains on track to deliver its first ASICs chips and rigs this year and is expected to begin contributing to gross profit in the back half of the year.
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This post contains forward-looking statements, including statements regarding Block's expected financial performance in 2025. These statements are subject to certain risks and uncertainties, including changes in macroeconomic conditions. Please refer to Block’s most recent filings with the Securities and Exchange Commission for a discussion of risk factors that could cause Block’s results to differ materially. Block disclaims any obligation to update any forward-looking statements, except as required by law. Cash App is a financial services platform, not a bank. Any reference to banking offerings such as “banking tools,” refer to products and services that are offered through Block’s Industrial Bank, Square Financial Services, Inc., or through our third-party bank partners.
At the 2025 Goldman Sachs Communacopia + Technology Conference, Block’s Foundational Lead Amrita Ahuja joined Will Nance of Goldman Sachs to discuss Block’s strong second quarter results and the company’s momentum across both Square and Cash App. Block delivered 14% gross profit growth and 22% adjusted operating income margin in the second quarter of 2025, underscoring how product velocity, expanded distribution, and deeper customer engagement are translating into sustained performance.
“Over the past year, we’ve made two major transformations across the company: moving from individual business lines to a functional model and aligning on a clear set of stack-ranked priorities,” Amrita noted. “These shifts have enabled us to move faster and increase product velocity across both Square and Cash App, and that’s beginning to show up in the strong results you saw this quarter.”
Cash App continues to scale as the financial operating system for the next generation, with 8 million actives depositing a paycheck or spending at least $500 in June, up 16% year over year. The business added nearly 100,000 new direct deposit customers in July of this year - reaching 2.8M paycheck deposit actives - and also added new features like Pools, stronger banking tools, and rapid adoption among teens and families are driving network expansion and engagement.
Square saw its highest-ever quarter of new volume added in the second quarter, driven by both self-onboarding and growing momentum from field sales investments. A range of product launches including Square AI, Square Handheld, and an updated Square Online show how quickly the platform is evolving.
Looking ahead, Amrita highlighted Proto - Block’s bitcoin hardware business - which remains on track to deliver its first ASICs chips and rigs this year and is expected to begin contributing to gross profit in the back half of the year.
Listen to the .
This post contains forward-looking statements, including statements regarding Block's expected financial performance in 2025. These statements are subject to certain risks and uncertainties, including changes in macroeconomic conditions. Please refer to Block’s most recent filings with the Securities and Exchange Commission for a discussion of risk factors that could cause Block’s results to differ materially. Block disclaims any obligation to update any forward-looking statements, except as required by law. Cash App is a financial services platform, not a bank. Any reference to banking offerings such as “banking tools,” refer to products and services that are offered through Block’s Industrial Bank, Square Financial Services, Inc., or through our third-party bank partners.