Block (SQ) 8-K Caviar Unaudited Quarterly Condensed Statements of Operations

Exhibit 99.1

SQUARE, INC.

ADDITIONAL INFORMATION

CAVIAR UNAUDITED QUARTERLY CONDENSED STATEMENTS OF OPERATIONS

(In thousands)

On October 31, 2019, Square, Inc. (“Square”) completed the sale (the “Sale”) of its food ordering business, Caviar (“Caviar”), to DoorDash, Inc. (“DoorDash”) for an aggregate purchase price of $410 million in the form of cash and DoorDash preferred stock.

The following tables set forth selected Caviar unaudited quarterly condensed statements of operations data through the completion of the Sale for the eight fiscal quarters from the quarterly period ended March 31, 2018. 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 Annual Reports on Form10-K 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 and Annual Reports on Form10-K. These quarterly operating results are not necessarily indicative of the results that Caviar may achieve in future periods.

	For the quarter ended
	March 31, 2018			June 30, 2018			September 30, 2018			December 31, 2018			March 31, 2019			June 30, 2019			September 30, 2019			December 31, 2019 *
Revenue:
Subscription and services-based revenue	$	27,469		$	36,927		$	39,583		$	44,283		$	46,530		$	43,390		$	40,948		$	15,046
Total net revenue		27,469			36,927			39,583			44,283			46,530			43,390			40,948			15,046
Cost of revenue:
Subscription and services-based costs		21,223			27,569			29,820			33,549			35,061			30,063			28,275			10,667
Amortization of acquired technology		—			—			—			—			29			31			30			(1	)
Total cost of revenue		21,223			27,569			29,820			33,549			35,090			30,094			28,305			10,666
Gross profit		6,246			9,358			9,763			10,734			11,440			13,296			12,643			4,380
Operating expenses:
Product development		3,095			2,759			3,709			4,100			4,711			5,413			5,591	��		950
Sales and marketing		4,165			3,883			3,428			4,533			5,229			5,593			6,205			1,893
General and administrative		6,338			3,983			7,540			8,976			8,108			8,908			8,949			3,980
Total operating expenses		13,598			10,625			14,677			17,609			18,048			19,914			20,745			6,823
Operating loss		(7,352	)		(1,267	)		(4,914	)		(6,875	)		(6,608	)		(6,618	)		(8,102	)		(2,443	)
Loss before income tax	$	(7,352	)	$	(1,267	)	$	(4,914	)	$	(6,875	)	$	(6,608	)	$	(6,618	)	$	(8,102	)	$	(2,443	)
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		$	3,729		$	(685	)
Depreciation and amortization		387			539			547			659			657			644			842			—
Other (income) expense, net		152			(83	)		(50	)		96			18			336			104			1,018
Adjusted EBITDA	$	(5,079	)	$	1,026		$	(2,163	)	$	(3,827	)	$	(3,341	)	$	(2,155	)	$	(3,427	)	$	(2,110	)

* Includes results through the completion of the Sale on October 31, 2019