Square, the payment processing startup last valued at $US6 billion, just filed its S1 on Wednesday.
It’s the first time Square’s made its financials available to the public, and while it’s losing money, its revenues are growing fast. If it keeps going at its current pace, it will lose about $US150 million on more than $US1 billion in revenue this year.
Here are the most important numbers:
Six-month revenue: $US560.5 million (2015) vs. $US371.8 million (2014)
Operating loss: $US74.4 million (first half of 2015) vs. $US79.9 million (first half of 2014)
Net loss: $US77.5 million (first half of 2015) vs. $US79.3 million (first half of 2014)
Full-year revenue:$US850.2 million (2014) vs. $US552.4 million (2013)
Cash and cash equivalents: $US225.3 million (end of 2014) vs. $US166.1 million (end of 2013)
Despite the big losses, quare has managed to shrink its losses in the first six months of this year compared to the same period of last year. It’s also worth noting that more than half of its revenue, or $US450.8 million, was spent on “transaction costs” last year.
Square charges its sellers a 2.75% transaction fee for “card-present transactions” and 3.5% plus $US0.15 per transaction for manually entered transactions. Square says it processed $US23.8 billion worth of card payment transactions in 2014.
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