Block (XYZ) 8-K Square Completes Sale of Caviar to DoorDash

Exhibit 99.2

SQUARE, INC.

ADDITIONAL INFORMATION

CAVIAR UNAUDITED QUARTERLY CONDENSED STATEMENTS OF OPERATIONS

(In thousands)

OVERVIEW

On July 31, 2019, Square, Inc. (“Square” or the “Company”) entered into a definitive agreement (the “Agreement”) with DoorDash, Inc. (“DoorDash”) where DoorDash would acquire Square’s food ordering business, Caviar (“Caviar”), for an aggregate purchase price of $410 million in the form of cash and DoorDash preferred stock, subject to certain closing conditions, including regulatory approvals. On October, 31, 2019, Square closed the sale of its Caviar business to DoorDash in accordance with the Agreement (the “Transaction”).

The following tables set forth selected Caviar unaudited quarterly condensed statements of operations data for the last six quarters. The information for each of these quarters has been derived from Square’s historical consolidated financial statements included in Square’s Quarterly Reports on Form10-Q and, in the opinion of management, includes all adjustments, which consist only of normal recurring adjustments, necessary for the fair presentation of the results of operations for these periods. This data should be read in conjunction with Square’s Quarterly Reports on Form10-Q. These quarterly operating results are not necessarily indicative of the results that Caviar may achieve in future periods.

	March 31, 2018			June 30, 2018			September 30, 2018			December 31, 2018			March 31, 2019			June 30, 2019
Revenue:
Subscription and services-based revenue	$	27,469		$	36,927		$	39,583		$	44,283		$	46,530		$	43,390
Total net revenue		27,469			36,927			39,583			44,283			46,530			43,390
Cost of revenue:
Subscription and services-based costs		21,223			27,569			29,820			33,549			35,061			30,063
Amortization of acquired technology		—			—			—			—			29			31
Total cost of revenue		21,223			27,569			29,820			33,549			35,090			30,094
Gross profit		6,246			9,358			9,763			10,734			11,440			13,296
Operating expenses:
Product development		3,095			2,759			3,709			4,100			4,711			5,413
Sales and marketing		4,165			3,883			3,428			4,533			5,229			5,593
General and administrative		6,338			3,983			7,540			8,976			8,108			8,908
Total operating expenses		13,598			10,625			14,677			17,609			18,048			19,914
Operating loss		(7,352	)		(1,267	)		(4,914	)		(6,875	)		(6,608	)		(6,618	)
Loss before income tax	$	(7,352	)	$	(1,267	)	$	(4,914	)	$	(6,875	)	$	(6,608	)	$	(6,618	)
Reconciliation of loss before income tax to Adjusted EBITDA
Share-based compensation expense	$	1,734		$	1,837		$	2,254		$	2,293		$	2,592		$	3,483
Depreciation and amortization		387			539			547			659			657			644
Other (income) expense, net		152			(83	)		(50	)		96			18			336
Adjusted EBITDA	$	(5,079	)	$	1,026		$	(2,163	)	$	(3,827	)	$	(3,341	)	$	(2,155	)

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