2018年Q3 SQUARE（美国移动支付公司）财报（英文）.docx

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1、Q32018ShareholderLetterSQUARE.COM/INVESTORS1FEATUREDSELLER•VerveWineinNewYork,NYHighlightsWecontinuetodrivestrongrevenuegrowthatscale:Inthethirdquarterof2018,totalnetrevenuegrew51%yearoveryearandAdjustedRevenuegrew68%yearoveryear,comparedto48%and60%,r

2、espectively,inthesecondquarterof2018.WelaunchedSquareTerminal,aportable,all-in-onepaymentsdevicetoreplacetraditionalkeypadterminals.WeareexpandingourdeveloperplatformandlaunchedSquareReaderSDKsothatsellerscanuseSquarehardwarewiththepointofsalethatwor

3、ksbestfortheirbusiness.SquareInstallments,ournewpurchasefinancingproduct,givessellersagrowthtoolthathelpsthemnevermissasale.TOTALNETREVENUE$882Million+51%YoYGROSSPAYMENTVOLUME(GPV)$22.5Billion+29%YoYNETINCOME(LOSS)$20Million$669M45%51%$882M48%$815Mth

4、irdquarterkeyresults33%YoYGrowth$585M36%$616MADJUSTEDREVENUE$431Million+68%YoYGPVMIXBYSELLERSIZE52%fromlargersellersADJUSTEDEBITDA$71Million+107%YoY$431M$385M$283M47%$307M$257M45%YoYGrowth51%60%68%16%20%24%27%27%28%57%52%48%>$500KAnnualizedGPV$125K–$5

5、00KAnnualizedGPV2017$22.5B29%$21.4B$17.4B$17.9B$17.8B31%YoYGrowth31%31%30%Q32018$20MQ4Q1Q2($6M)($24M)($16M)($16M)Q3Q4Q1Q2Q3Q3Q4Q1Q2Q32017201820172018Q3$71M$68M$41M38%$34M$36M195%YoYGrowth33%87%107%<$125KAnnualizedGPVQ32017Q4Q1Q2Q320182016Q32017Q3

6、2018Q3Q32017Q4Q1Q2Q32018Netincomeincludesagainof$37millionasaresultoftheinitialpublicoffering(IPO)ofEventbriteandsubsequentmark-to-marketvaluationofourEventbriteinvestment.InAugust2017,weinvested$25millionforpreferredsharesofEventbrite,whichconvert

7、edintocommonstockinconnectionwiththeIPO.InSeptember2018,uponEventbrite'sIPO,werevaluedthisinvestmentandwillsubsequentlycarryitatfairmarketvalue,withchangesinfairmarketvaluebeingrecordedinotherincomeorexpense.Areconciliationofnon-GAAPfinancialmeasuresu

8、sedinthislettertotheirnearestGAAPequivalentsisprovidedattheendofthisletter.AdjustedRevenueistotalnetrevenuelesstransaction-basedcostsandbitcoincosts,andexcludestheeffectofdeferredrevenueadjustmentrelatedtopurchaseaccounting.AdjustedEBITDAmargi