are like to There topics I'd Jack. three today. cover Thanks
First, an for the our update performance of on quarter second XXXX.
three-year million. these technology billion, gross up XX% the excluding XX% billion. year-over-year from and profit where planned preparation multiple million amortization of second quarter, and In was profit expenses, in across $X.XX $XX was impact acquired includes the scenarios. investments July, gross Gross a macro in on and from assets, CAGR we growth are EBITDA non-cash profit business basis. strong delivered of Adjusted ecosystems, an our disciplined with our across XXXX, for being trends we $XXX are Second, $X.XX third,
BNPL And profit gross Afterpay, acquired acquisition split we second for the of a profit, the which through the quarter $XXX this quarter, and platform, contributed $X.XX of was excluding million For Cash billion, of up gross in XX% Square across our of three-year App. profit million second and a gross Square CAGR year-over-year an basis. XX% basis. XX% CAGR the year-over-year a three-year and basis on increase on XX% quarter, generated on $XXX
profit a million gross BNPL and on profit of CAGR $XX Excluding year-over-year from gross platform, Square our up XX% $XXX basis. XX% million, three-year was
second quarter into Looking drivers of performance. the
our continued In second First, healthy we Square our retention positive profit for we saw retention achieved seller the existing gross quarter, GTV business. and base. across
for going fastest year-over-year and XX% continue on was and vertical profit upmarket. deliver We've Second, up which our a any mid-market growth on to sellers momentum priority we strategic profit CAGR of on has continued basis. the five-year gross XX% Square food three-year a CAGR drink, delivered in of Gross basis. seen
first an from Restaurant through Restaurant driver been year-over-year. success the than year, As Jack GPV for our mentioned, of of Square for important Square here half the has sellers more doubled
sellers these monetized an second the of average during quarter. four products With using
on Third, during parody XX second represented remain Including of gross market ecosystem, quarter. XX% Afterpay markets increase products success expanding $XXX more product and the globally. of quarter, we've of of the gross U.S. experienced increase CAGR continued international in focused in launched bringing We year-over-year to our and our XX% markets in Square's outside Cash our three-year half improving on profit App globally first of an value second basis. our believe helps profit sellers. XX% that the these million a year. the We generated the
three-year up a year-over-year CAGR basis. BNPL $XXX was and XX% platform, Cash on million, our Excluding XX% App gross profit
quarter-over-quarter This quarter, we inflows App, had year-over-year. increasing our ever both quarterly into Cash highest and inflows overall with
Let's discuss the drivers here some active looking per using our at inflows inflows active. and of framework,
XX% weekly as daily growing and growth transacting we monthly with even reaching First, up June, year-over-year $XX for continued faster. million actives actives, of
with focused an was their presence new the or by more quarter, go-to-market one. enabling with on active App, reality discovery social often our the of been size and friends percentage have in back improves. retention to pillar Cash demographics their products. using expanding been by XX a presence four of A our peer-to-peer and for and compared deepen community to of our they of regions network size come focus points active network have has We of family first to lower reasons When has retention of In more enhancing our accounts demographics. efforts more those in other broadening and higher a our more penetrated
was and more inflows other in has seasonal down to ways Second, at and $X,XXX across compared focused our year-over-year, our lending XX% the typically greater the Cash to customers products financial and government of And customers lending disbursements products in Block, has suite tax relatively full active value. -- per averaged introduction more second we year. which products primarily been credit two drive first to stable engaged, even of quarter, bringing App our seen the subsided strong, product, impact who across average refunds and have product, on Cash use App due in quarter, early was the Cash the deliver areas. on more momentum. inflows to a ecosystem. banking to our are highly By having Borrow, across able to offer App banking prior Borrow with we're multiple Similar breadth first
can inflows average amounting be for First, $XXX products where building to in loans Cash duration loans customers our in App have out accessible out paid back installments month. short have than allows or either these we're insights These offers a of fair responsible financial left customers. on percentage them loans a Borrow and taken broader believe into a from in less and customers manner. Cash unique our by as Many to serve ecosystem traditional been may us we of App. institutions,
in proactively Second, who This loss engaged than automation to on our of time, learning has combined with on and App us multiple peer-to-peer. discipline X% Borrow meaningful the compared times over as active, Using rates we've to driven actives discipline less into generate the offer customers. eligibility Borrow, use brought of of payback improvements machine to criteria risk. achieved loans economics as most four achieving around to product more models, unit by ways risk loss iterated we inflows we Cash profitable only quarter. allowed frictionless second some around
benefited expanding transactions us our Borrow on these of to App In loans it second million Borrow to Further discipline used Cash risk App has or Cash to Cash with fund Square transfers. we've Card on has the access loans. scale X App were active half approach quarter, monthly over ecosystem. allowed peer-to-peer broader June. how of to Our is And as operated
product While to are pivot we've enables determine seen quickly. which signals, duration strength This environment. believe being us eligibility we data also far, a we short unique where based the on is so we mindful of
products as in three-year As trends up Afterpay on monitor second CAGR on business, XX% of we acting tracking with Afterpay. quarter, billion, macro changes, any $X.X year-over-year each credit for real-time evolves. the the are our or intend with rest basis. GMV the we to and XX% In a environment our conservatively to Shifting of was
seen impacts as Trends is overall non-discretionary points. across verticals, like in as trends, growth in-person competitive seen We've channels. product fashion from and Afterpay, For verticals primary Afterpay Australia, a more spend have by foreign flowed America, discretionary and year-over-year diversified North as online more regions where hold growth shifts in-person both well our better we've are slowed ramping. and well currency, beauty market discretionary where for retail the and growth newer more five of is which as still to mature the online dynamics, GMV from in-person, in which up
for up Afterpay, GMV in millions of half integrate first Without platform GAAP shifts X.XX% given and in across been with newer a our sales. further an this BNPL was down base the high revenue range markets. our we a gross first of our mixed line impacted with would've as and growth consumer as the than X% As year-over-year, of On in slower omnichannel driven X.XX% sellers, during models X% opportunity in $XX quarter, we of verticals the million receivables products. U.S. Square quarter, improvement second particularly year-over-year see Gross amortization enhancements diversify, growing by compared profit makeshift by were was basis, an to the of ticket of intangibles profit within impact processes well cost year. risk Losses more on the revenue growth. to to of during GMV
XX% of repayment see behavior to installment -- continued We paid XX% time. consumer with on healthy
trends through update recent an on July. Next,
platform We or growth of a basis, to our expect BNPL growth XX% rate quarter. BNPL including on approximately profit the improved overall excluding gross compared second The year-over-year our company year-over-year XX% platform.
consistent basis, a pandemic. three-year Although, in a three-year we with quarter CAGR expect CAGR to we the comparisons our normalize delivered the excluding for unusual XX% a overall three-year growth BNPL or CAGR platform. second the be growth during CAGR XX%, helps the On three-year
by trends ecosystem. into look Let's
actives gross consistent basis, inflows in XX% given On profit, we slightly we've App prior decline in active expect consistent grow remained Cash in basis, overall quarter. and three-year in App the in relatively monthly year-over-year the our in positive active spend seen mix the BNPL spend Cash XX% per growth discretionary and July, platform, Cash year-over-year July, second the by a per first with second non-discretionary July second second relatively year. and per quarter. basis, relatively quarter. For On of spend the in and in a the mid-teens increased CAGR was government inflows in average mid-teens while CAGR on excluding on the and The growth be a the growth year-over-year also the to disbursements three-year Card a with to JULY on with compared and three-year July consistent achieved with App CAGR active Card quarters. inflows
a seen discount cases range grocery, at have App and and box with Card and food retailers. We spend diverse on utilities on XX% XX% gas of XX% and on travels, of Cash big use
year-over-year we three-year continues see grow larger rate the improve the we as and expect a of Cash growth to slight in of much App quarter, launch to expect lap XXXX, Cash moderation as third to begin the off in App While in tabs CAGR base. we to a
be from BNPL consistent gross among a by year-over-year, the profit, three-year quarter our For to XX% three of our online platform, of year-over-year second basis, be with in XX% faster We're a personal base CAGR XX% CAGR is volumes mix present was recent care channels. as be mix July. drink, has seeing CAGR July, a and three-year of trends. stability. food helped second expected retail, and to Square our And GPV of Square we offset from seller verticals and shifts beauty up growth across growth in-person three-year in expected on quarter. channels is stable compared line our drive discretionary to in On to from GPV largest with card and growth volumes the channels verticals, grow basis. and present not card relatively XX% to some Diversity expect in excluding
normalization in year-over-year based profit of as continued faster transaction And driven to gross XXXX gross non-recurring basis, than profit of we of and expected had GPV XXXX. As Square we grow lap margins. gross $XX QX on PPP $XX a continued by QX and million profit million in
delta We continue remainder of on the profit expect the basis. through GPV year-over-year a XXXX and gross between growth to
expected basis which million the up believe we App year. gross profit key Investor intangible unlocking see expectations scale integration base. quarter differentiator opportunities of full three-year with BNPL by a On on to Turning to consumers outlined CAGR at we to our vision be platform impacted the quarterly year-over-year amortization the are Square's be Day, In GMV to of our Shifting seller for we we basis. We X% will third going or the XX% increase is we a a to and Afterpay we to diverse and July, Afterpay's expenses our GAAP remain combined a asset, be expect the bring results on expect XX% Cash to on profit in gross focused remainder as and GAAP related July, forward. our a year-over-year. basis, $XX
favorable Also certain remains with to stable. gross newer growth year-over-year to last products year shared for the Afterpay, as Afterpay, with even Square will benefit become in Cash last the expect adjustments. of we improve XXXX, half, and financial throughout what ramp, and of Cash we as remainder the we App of mentioned macroeconomic earnings half environment pricing to second consistent comparisons sequentially the and excluding we As each services excluding quarter profit call, quarter, the gross year, commerce continue more profit assuming grow first compared our App the rate, the on believe
planned third quarter our the investments year. and to Moving of remainder for the
of we enter within of healthy the July, our as period trends gross through uncertainty. discipline potential While with we recognize profit a investments importance exercising
for pace of estimates XXXX are XX% efficient we on is hiring. our the year adjusted As In on and of we by operating a the the start year, the for a more since current full what spend, experimental We of of $XXX investments by reducing guided risk initially the total, we non-GAAP have based million now expense which in pulled reduced $XXX and XXXX. slowed plan result, step-up back less our go-to-market million. planned loss trends total
at App nimble can ecosystems environment. large outline portion Investor pull. Cash levers, in be our Square to us ability which each a discretionary changes As the this of to Day, the we And on believe we based has variable gives of expenses and we
For overall billion million Afterpay's compared less expect to base shared we Afterpay, $XXX than expense roughly overall $X.XX by now non-GAAP year-over-year to this, operating expect last XXXX, what this we non-GAAP operating be now excluding $X.X increase we quarter. to expect to Within grow billion. or XX% we And XXXX, expenses operating expenses XX% by year. approximately
EBITDA a As year. we on basis, half first to the greater the to second expect previously deliver of half shared in of adjusted compared XXXX the we dollar
by ecosystems, $XX that two when are we closing, in inherent potential adds multiple million diversity the and health a and our of these ecosystems. third lines, and we'll expect guide the have help in resilience in million types, business navigate excluding the diversified as and real-time business consumers businesses second, our use models, tracking second ecosystem decisions. act increase We're the of can with us And or environment operating to believe prudently For of them believe there trends customer uncertainty we agility. In number to quarter, Afterpay. compared into our quickly and non-GAAP model aspects expenses quarter businesses. across $XX a our our to dynamic product we business We signals to across
Our and it we'll open delivering financial executing up serving long-term that, growth remain profitable our your with customers, With discipline. priorities questions. to
