TechFlow News, May 8: According to The Block, Block Inc., the financial technology company founded by Jack Dorsey, released its Q1 2026 financial results. Due to fair-value accounting for Bitcoin holdings, the company recorded a non-cash Bitcoin revaluation loss of $173 million, resulting in a net loss attributable to common shareholders of $309 million. Block currently holds 28,355 BTC, valued at approximately $2.2 billion. Despite this, the company’s overall operational performance remained solid: total gross profit increased 27% year-on-year to $2.91 billion, and Cash App’s gross profit rose 38% to $1.91 billion; adjusted operating margin reached a record high of 25%, and adjusted diluted earnings per share increased 52% to $0.85.
Notably, Cash App’s Bitcoin business declined 31% year-on-year, and the cryptocurrency business contributed almost nothing to gross profit. Block also raised its full-year guidance, forecasting a 19% year-on-year increase in gross profit and a 62% increase in adjusted diluted earnings per share for 2026.
