I dig this new annotation style of earnings summaries!

• Where is revenue growth: Pretty clear that Block's actual business (Cash App and Square) grew revenues quite well in the last year. Topline revenue for Block isn't a great metric because it's so heavily warped by bitcoin revenue, which is razor thin margin revenue.

To answer your question, bitcoin revenue is the reason you see no growth in "revenue". Gross profit (a more useful metric for Block) was $6 billion up from $4.4 billion.

Always look at the business by removing the USELESS Bitcoin revenue.

I wonder if those Bitcoin gross margins may just drop almost 100% down to bottomline. It may not have much opex involved, since Cash App is just a middlemen in that business and cashing in on Cypto craze. It used to be negative gross margins, but has not been the case for a few quarters already.

I was expecting some goodwill write-off from the Afterpay acquisition, but it is still holding intact, despite the price paid for it!