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Block Inc logo is seen displayed in this illustration taken, April 10, 2023. 

Dado Ruvic | Reuters

Block reported first-quarter earnings after the bell that exceeded analysts’ estimates. The stock rose about 10% in extended trading.

Here’s how the company did, compared to analysts’ consensus from LSEG.

  • Earnings per share: 85 cents adjusted vs. 72 cents adjusted that was expected
  • Revenue: $5.97 billion vs. $5.82 billion expected

Block posted $2.09 billion in gross profit, up 22% from a year ago. Analysts tend to focus on gross profit as a more accurate measurement of the company’s core transactional businesses.

The company reported net income of $472 million, or 74 cents per share, more than quadruple the net income of $98.3 million, or 16 cent per share, a year earlier.

The company raised its adjusted EBITDA forecast for the second quarter to $690 million from $670 million.

Block, formerly known as Square, ended the year with 57 million monthly transacting actives for Cash App in March, up 6% year-over-year. Inflows per transacting active were $1,255, up 11% year over year.

The Cash App business, which is the company’s popular mobile payment platform, reported $1.26 billion in gross profit, a 25% year-over-year jump. Block, run by Twitter co-founder Jack Dorsey, said its Cash App Card monthly active users increased to 24 million in March.

Block is also more focused on integrating Afterpay, the buy-now, pay-later company it bought for $29 billion in 2021. Afterpay struggled following the deal, posting big losses.

Block has slimmed down operations in recent months. In January, Dorsey reportedly said in a note to staffers that the company had laid off a “large number” of workers. This followed another round of layoffs in December.

Chief financial officer Amrita Ahuja said in a call with CNBC that the company is raising its outlook for the year to reflect its strong performance in the first quarter.

Dorsey’s note to shareholders began by directly addressing a question that he often fields: “Why the hell are you all spending so much time on bitcoin?”

“Less than 3% of company resources are dedicated to bitcoin-related projects,” Dorsey wrote. “But why spend time on bitcoin at all? We believe the world needs an open protocol for money, one that’s not owned or controlled by any single entity.”

Bitcoin, said bitcoin will ultimately help Block “serve more people around the world faster.” He added that going forward, Block will be investing 10% of its gross profit from bitcoin products into purchases of bitcoin for investment.

“We were one of the first public companies to put bitcoin on our balance sheet,” he wrote.

The $220 million the company invested into bitcoin has grown 160% to $573 million as of the end of the first quarter, according to Dorsey.

Federal probe into Block

Cash App remains a significant contributor to overall profitability at the company.

The Block CFO told CNBC that the fintech firm has seen “continued resilience of spend” with not only growth in actives, but also growth in spend per monthly active user on a year-over-year and quarter-over-quarter basis.

“Which shows us again, continued resilience of this customer base and strong engagement with our product,” said Ahuja.

Shares in Block dropped 8% percent on Wednesday after an NBC investigation claimed that U.S. prosecutors were probing the company’s compliance practices based on information leaked to them by a former employee of the company.

“Most of the transactions discussed with prosecutors, involving credit card transactions, dollar transfers and bitcoin, were not reported to the government as required,” the NBC story alleged.

The whistleblower reportedly gave the government materials showing breaches in know-your-customer and anti-money laundering rules, as well as evidence indicating that management ignored these lapses.

Unlike past reports of possible wrongdoing at the company, the latest allegations encompass both Cash App and the company’s Square point-of-sale technology. It also includes within its scope international payments, sanctioned nations, and breaches of the Office of Foreign Assets Control. In September, Alyssa Henry stepped down as Square CEO. Dorsey stepped in to fill the role and no successor has been announced.

A separate report in February published by the same NBC reporter found that two whistleblowers had gone to the U.S. Treasury’s Financial Crimes Enforcement Network, or FinCEN, to share similar allegations. The popular payment app “had no effective procedure” to establish the identity of its customers, two whistleblowers told officials, according to NBC.

Analysts for Macquarie wrote in a note on Wednesday that should the Federal probe find merit in these claims, they see greater potential for fines or behavioral remedies such as robust oversight teams and infrastructure rather than “something structural like limitations on the types of business it can do.”

Last year, short seller Hindenburg Research levied similar claims, alleging that Block allowed criminal activity to operate with lax controls and “highly” inflates Cash App’s transacting user base, a key metric of performance.

Hindenburg described Block’s internal systems as a “‘Wild West’ approach to compliance.”

— CNBC’s Michael Bloom and Kate Rooney contributed to this report.

WATCH: Block shares pop on earnings beat

Block shares pop on Q4 earnings beat

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Homeowners share surprising, real-world data after installing solar panels

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Homeowners share surprising, real-world data after installing solar panels

Are you wondering what kind of results you’d get if you added a home solar system to your roof? Homeowners are sharing their results online — and the real-world data might surprise you!

In a recent post to r/Solar, a Reddit user going by DontBuyBitcoin shared a screenshot indicating that their newly-installed ~11.5 kW system produced over 1,700 kWh of electricity in October. “Pretty surprised by the production of the system I got,” writes DontBuyBitcoin. “11.48KW. I cant wait to see what JUNE-AUGUST [2026] going to look like 😍 I wish SolarEdge will make their app better looking with more functionality”

Home solar energy chart


1.7 MWh month; via DontBuyBitcoin.

Other Redditors were quick to share in the enthusiasm. “Congratulations!!! Great numbers,” wrote LegalNet4337. “We got 1.6 MWh with a 14.45 kW system. East and West facing panels in SoCal.”

That 1,700 kWh is nothing to sneeze at. Based on the current national average electricity price of about $0.17/kWh (in AUG2025), DontBuyBitcoin’s admittedly large-ish system translates to ~$290 of potential savings. In a higher rate state like Illinois, with a projected 2026 kWh rate that’s closer to $0.18/kWh, that’s ~$306/mo.

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We expect retail electricity prices to residential customers will average 17 cents per kilowatthour (kWh) nationwide in 2025, a 4% increase over 2024, and then rise to approximately 18 cents/kWh in 2026. This rise continues a trend in which residential electricity prices have increased at an average annual rate of 5% each year since the COVID-19 pandemic. The increase in retail electricity prices this year comes as the cost of natural gas to the electric power sector was up more than 40% in 1H25 compared with a year earlier, with similar year-over-year increases forecast for the remainder of 2025. The average cost of natural gas for power generation in our forecast increases another 17% in 2026.

US ENERGY INFORMATION ADMINISTRATION (EIA)

Those are big numbers, but 11-15 kW rooftop solar systems are big. Significantly bigger, in fact, than the US average, ~6.6 kW in 2024 – but you don’t have to have a big system in order to post big numbers. Superior weather conditions and perfect PV panel placement can also get the job done, as another Redditor found.

“The last 2 days we have had perfect weather here in South Florida and I have been able to get over 30 kWh from a 5 kW system with a 3.8 kW inverter. This is the highest I have seen since getting PTO in September,” wrote Redditor dlewis23, who shared another SolarEdge graph. “I am super happy with seeing over 30 kWh in a single day.”

30 kW/day from home solar


Taken altogether, these real-world snapshots prove that whether it’s a modest 5 kW array or a beefy 10+ kW setup, homeowners out in the real world are seeing meaningful, measurable differences from their home solar installations. And, with retail electricity prices projected to keep on rising through the decade, every kilowatt counts.

Electrek’s Take


From Electrek SEP2025 survey.

When we ran our “Why did you choose to go solar?” survey back in September, only 32.6% of respondents chose, “Lowering my monthly utility bills” as their primary motivation to go solar. That result proved, in my mind, that Electrek readers are just better people than most, and seem to be willing to spend a little more to do something positive for their environment and their community.

That said, wasn’t it no less a thinker than Albert Einstein who said, “Compound interest is the most powerful force in the universe” (Google it.)? And, with a 5% rate hike compounding every year from now until the AI and data center bubbles burst, the impact energy rates may have on all our pocketbooks may be enough to put “Lowering my monthly utility bills” back on top.

If and when that happens: be smart, get several quotes, and understand the difference between buying and leasing your PV system (especially if you plan on selling your home in the foreseeable future).

SOURCES: Reddit, EIA; featured image via Tesla.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

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Volvo set to ditch LiDAR for 2026 – and Luminar is BIG mad

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Volvo set to ditch LiDAR for 2026 – and Luminar is BIG mad

It seems like the writing was already on the wall last week when Volvo moved to make its Luminar-supplied LiDAR system an option – there are now reports that the Swedish car brand is set to ditch LiDAR tech entirely in 2026.

In a recent SEC filing following a missed interest payment on its 2L notes, Luminar confirmed that Volvo’s new ES90 and EX90 flagship models (along with the new Polestar 3) would no longer be offered with LiDAR from Luminar. The move signals a full reversal on the safety tech that had started as standard equipment, then became an option, and is now (according to reports from CarScoops) gone altogether.

In a statement, a Volvo Cars USA spokesperson added the decision was reportedly made, “to limit the company’s supply chain risk exposure, and it is a direct result of Luminar’s failure to meet its contractual obligations to Volvo Cars.”

This is what Luminar had to say about the current, icy state of the two companies’ relationship as of the 31OCT filing:

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The Company’s largest customer, Volvo Cars (“Volvo”), has informed us that, beginning in April 2026, Volvo will no longer make our Iris LiDAR standard on its EX90 and ES90 vehicles (although Iris will remain an option). Volvo also informed the Company that it has deferred the decision as to whether to include LiDAR, including Halo (Luminar’s next generation LiDAR under development), in its next generation of vehicles from 2027 to 2029 at the earliest. As a result of these actions, the Company has made a claim against Volvo for significant damages and has suspended further commitments of Iris LiDAR products for Volvo pending resolution of the dispute. The Company is in discussions with Volvo concerning the dispute; however, there can be no assurance that the dispute will be resolved favorably or at all. Furthermore, there can be no guarantee that any claim or litigation against Volvo will be successful or that the Company will be able to recover damages from Volvo.

As a result of the foregoing, the Company is suspending its guidance for the fiscal year ending December 31, 2025.

LUMINAR

On November 14, Luminar confirmed that Volvo had terminated its contract altogether, in a blow that could leave Luminar rethinking its long-term future and planning litigation against its biggest ex-customer.

The news follows a host of significant upgrades to the EX90 that include a new, more dependable electronic control module (ECM) and 800V system architecture for faster charging and upgraded ADAS that improves the automatic emergency steering functions and Park Pilot assistant.

Electrek’s Take


You can’t spend years telling everyone you’re miles ahead because you have LiDAR, then ditch LiDAR, and pretend no one is going to call you out on it. They had better hope they don’t up on Mark Rober’s YouTube channel doing a Wile E. Coyote impression (above).

That said, it’ll be interesting to see if ditching the LiDAR has a negative impact there. Or, frankly, whether ditching the LiDAR and its heavy compute loads will actually help mitigate some of the EX90’s niggling software issues. It could go either way, really – and I’m not quite sure which it will be. Let us know which way you think it’ll go in the comments.

SOURCE: Luminar, via SEC filing; featured image by Volvo.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

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John Deere electric riding mower gets removable batteries from EGO

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John Deere electric riding mower gets removable batteries from EGO

The new John Deere Z370RS Electric ZTrak zero turn electric riding mower promises all the power and performance Deere’s customers have come to expect from its quiet, maintenance-free electric offerings – but with an all new twist: removable batteries.

The latest residential ZT electric mower from John Deere features a 42″ AccelDeep mower deck for broad, capable cuts through up to 1.25 acres of lawn per charge, which is about what you’d expect from the current generation of battery-powered Deeres – but this is where the new Z370RS Electric ZTrak comes into its own.

Flip the lid behind the comfortably padded yellow seat and you’ll be greeted by six (6!) 56V ARC Lithium batteries from electric outdoor brand EGO. Those removable batteries can be swapped out of the Z370RS for fresh ones in seconds, getting you back to work in less time than it takes to gravity pour a tank of gas.

And, because they’re EGO batteries, they can be used in any 56V-powered EGO-brand tools and minibikes for unprecedented cross-brand interoperability. Tools and minibikes that, it should be noted, can be purchased at John Deere dealers across the country.

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The upsell scripts write themselves, kids. And when you start your dialing, tell your prospective customers their new Z370RS Electric ZTrak electric mower lists for $6,499, and if you order now we can bundle it with EGO minibike for the kiddos – just in time for the holidays!

Electrek’s Take


When John Deere launched the first Z370R, Peter Johnson wrote that electrifying lawn equipment needs to be a priority, citing EPA data that showed gas-powered lawnmowers making up five percent of the total air pollution in the US (despite covering far less than 5% of the total miles driven on that gas). “Moreover,” he writes, “it takes about 800 million gallons of gasoline each year (with an additional 17 million gallons spilled) to fuel this equipment.”

It should go without saying, then, that states like California, which are banning small off-road combustion engines, have the right idea.

SOURCE | IMAGES: John Deere.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

FTC: We use income earning auto affiliate links. More.

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