TIDMTSL

RNS Number : 3559F

ThinkSmart Limited

04 November 2022

4 November 2022

ThinkSmart Limited

    ("ThinkSmart" or the "Company"   which together with its subsidiaries is the "Group")

Block, Inc Q3 results

ThinkSmart Limited (AIM: TSL), a leading digital payment solutions provider, is pleased to note the third quarter earnings report issued by Block, Inc (NYSE: SQ) ("Block") which outlines significant ongoing growth.

ThinkSmart holds a position of 618,750 shares in Block, which based on a closing price of US$53.91 on 3 November 2022 is valued at US$33.36m.

The following is an extract from Block's shareholder letter:

"We delivered strong growth at scale during the third quarter of 2022. Gross profit grew 38% year over year to $1.57 billion, up 46% on a three-year compound annual growth rate (CAGR) basis. Excluding our BNPL platform, gross profit was $1.42 billion, up 25% year over year and 42% on a three-year CAGR basis. Our Cash App ecosystem delivered gross profit of $774 million, an increase of 51% year over year and, excluding our BNPL platform, 37% year over year. Our Square ecosystem delivered gross profit of $783 million, an increase of 29% year over year and, excluding our BNPL platform, 17% year over year."

The shareholder letter can be found at:

https://s29.q4cdn.com/628966176/files/doc_financials/2022/q3/Block_Shareholder-Letter-3Q22.pdf

For further information please contact:

 
 ThinkSmart Limited                  Via Buchanan 
 
 
 
 Canaccord Genuity Ltd (Nominated 
  Adviser and Broker) 
  Emma Gabriel 
  Andrew Potts 
  Tom Diehl                          +44 (0)20 7523 8350 
 Buchanan 
  Giles Stewart 
  Chris Lane 
  Toto Berger                        +44 20 7466 5000

Notes to Editors

About ThinkSmart Limited

ThinkSmart's roots are as a specialist digital payments platform business. Following the sale of its remaining 10% shareholding in Clearpay in January 2022, the Group holds shares in NYSE listed Block, Inc (NYSE: SQ). The Group also provides an outsourced call centre customer service and support service to Clearpay and is managing the wind-down of its leasing business.

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END

MSCEAPFLESNAFEA

(END) Dow Jones Newswires

November 04, 2022 05:02 ET (09:02 GMT)

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