4 November 2022
ThinkSmart Limited
("ThinkSmart" or the "Company" which together with its subsidiaries is the "Group")
Block, Inc Q3 results
ThinkSmart Limited (AIM: TSL), a leading digital payment solutions provider, is pleased to note the third quarter earnings report issued by Block, Inc (NYSE: SQ) ("Block") which outlines significant ongoing growth.
ThinkSmart holds a position of 618,750 shares in Block, which based on a closing price of US$53.91 on 3 November 2022 is valued at US$33.36m.
The following is an extract from Block's shareholder letter:
"We delivered strong growth at scale during the third quarter of 2022. Gross profit grew 38% year over year to $1.57 billion, up 46% on a three-year compound annual growth rate (CAGR) basis. Excluding our BNPL platform, gross profit was $1.42 billion, up 25% year over year and 42% on a three-year CAGR basis. Our Cash App ecosystem delivered gross profit of $774 million, an increase of 51% year over year and, excluding our BNPL platform, 37% year over year. Our Square ecosystem delivered gross profit of $783 million, an increase of 29% year over year and, excluding our BNPL platform, 17% year over year."
The shareholder letter can be found at:
https://s29.q4cdn.com/628966176/files/doc_financials/2022/q3/Block_Shareholder-Letter-3Q22.pdf
For further information please contact:
ThinkSmart Limited | Via Buchanan |
| |
| |
| |
Canaccord Genuity Ltd (Nominated Adviser and Broker) Emma Gabriel Andrew Potts Tom Diehl
| +44 (0)20 7523 8350
|
Buchanan Giles Stewart Chris Lane Toto Berger
| +44 20 7466 5000 |
Notes to Editors
About ThinkSmart Limited
ThinkSmart's roots are as a specialist digital payments platform business. Following the sale of its remaining 10% shareholding in Clearpay in January 2022, the Group holds shares in NYSE listed Block, Inc (NYSE: SQ). The Group also provides an outsourced call centre customer service and support service to Clearpay and is managing the wind-down of its leasing business.
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.