November 18, 2017 11:08 PM ET

IT Services

Company Overview of Square, Inc.

Company Overview

Square, Inc. develops and provides payment processing, point-of-sale (POS), financial, and marketing services worldwide. It provides Square Point of Sale, a POS application software that offers managed payments solutions and advanced software products, including Square Dashboard, a cloud-based reporting and analytics tool that provides sellers with real-time data and insights about sales, items, customers, and employees; Square Payroll, which empowers sellers to hire, onboard, and pay employees and the associated taxes; and customer engagement tools that help sellers to enhance their business through digital customer feedback, marketing, and loyalty programs. The company also offers in-perso...

1455 Market Street

Suite 600

San Francisco, CA 94103

United States

Founded in 2009

1,853 Employees

Phone:

415-375-3176

Key Executives for Square, Inc.

Co-Founder, Chairman, Chief Executive Officer and President
Age: 40
Total Annual Compensation: $1.5K
Chief Financial Officer
Age: 44
Total Annual Compensation: $250.0K
General Counsel and Corporate Secretary
Age: 50
Total Annual Compensation: $126.7K
Seller Lead
Age: 47
Total Annual Compensation: $275.0K
Compensation as of Fiscal Year 2016.

Square, Inc. Key Developments

Square, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended of September 30, 2017; Provides Earnings Guidance for the Fourth Quarter of 2017 and Revises Earnings Guidance for the Full Year of 2017

Square, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended of September 30, 2017. For the quarter, the company reported total net revenue of $585,159,000 compared to $439,002,000 a year ago. Operating loss was $14,891,000 compared to $31,982,000 a year ago. Loss before income tax was $16,745,000 compared to $32,093,000 a year ago. Net loss was $16,098,000 compared to $32,323,000 a year ago. Basic and diluted net loss per share was $0.04 compared to $0.09 a year ago. Adjusted EBITDA was $34,304,000 compared to $11,623,000 a year ago. Adjusted Revenue was $257,116,000 compared to $177,777,000 a year ago. Diluted adjusted net income per share was $0.07 against of $0.01 per basic and diluted share a year ago. Adjusted net income was $30,093,000 compared to $3,677,000 a year ago. For the nine months, the company reported total net revenue of $1,598,218,000 compared to $1,256,804,000 a year ago. Operating loss was $41,197,000 compared to $156,475,000 a year ago. Loss before income tax was $46,816,000 compared to $155,542,000 a year ago. Net loss was $47,150,000 compared to $156,423,000 a year ago. Basic and diluted net loss per share was $0.13 compared to $0.46 a year ago. Net cash provided by operating activities was $130,317,000 compared to $23,235,000 a year ago. Purchase of property and equipment was $19,625,000 compared to $19,674,000 a year ago. Adjusted EBITDA was $97,825,000 compared to $15,094,000 a year ago. Adjusted Revenue was $701,305,000 compared to $494,741,000 a year ago. Diluted adjusted net income per share was $0.19 against of basic and diluted adjusted net loss per share of $0.02 a year ago. Adjusted net income was $79,982,000 compared to adjusted net loss of $5,747,000 a year ago. The company provided earnings guidance for the fourth quarter of 2017 and revised earnings guidance for the full year of 2017. For the quarter, the company expects total net revenue to be in the range of $585 million to $595 million. Adjusted Revenue expected to be in the range of $262 million to $265 million. Adjusted EBITDA expected to be in the range of $34 million to $37 million a year ago. Net loss per share expected to be in the range of $0.07 to $0.06. Diluted adjusted EPS expected to be in the range of $0.05 to $0.06. For the full year of 2017, the company expects total net revenue to be in the range of $2.18 billion to $2.19 billion compared to previous guidance of $2.14 billion to $2.16 billion. Adjusted Revenue expected to be in the range of $963 million to $966 million compared to previous guidance of $925 million to $935 million. Adjusted EBITDA expected to be in the range of $132 million to $135 million compared to previous guidance of $120 million to $128 million. Net loss per share expected to be in the range of $0.20 to $0.19 compared to previous guidance of $0.21 to $0.19. Diluted adjusted Eps expected to be in the range of $0.24 to $0.25 compared to previous guidance of $0.21 to $0.23.

Square, Inc. Announces Board Changes

On November 1, 2017, the board of directors of Square, Inc. increased the size of the Board to eleven directors and appointed Anna Patterson to the Board as a Class I director and as a member of the Audit and Risk Committee. Patterson is the Founder and Managing Partner at Gradient Ventures and oversees the fund's investments and activities. Patterson is a Vice President of Engineering at Google and most recently helped to integrate AI into products across Google.

Square, Inc. Presents at O'Reilly Security Conference, Oct-31-2017 10:10 AM

Square, Inc. Presents at O'Reilly Security Conference, Oct-31-2017 10:10 AM. Venue: Hilton Midtown, 1335 Avenue of the Americas, New York, New York, United States. Speakers: Fredrick Lee.

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