Block Inc.

Good day, ladies and gentlemen, and welcome to the Square First Quarter 2020 Earnings Conference Call. I would like to turn the call over to your host, Jason Lee, Head of Investor Relations. Please go ahead.

Hi, everyone. Thanks for joining our First Quarter 2020 Earnings Call. We have Jack and Amrita with us today. First, we want to remind everyone of the format of our earnings call. We have published a struggle letter on our Investor Relations website, which was available shortly after the market closed. We will begin this call with some short remarks before opening the call directly to your questions. During Q&A, we will take questions from our sellers in addition to questions from conference call participants. We would also like to remind everyone that we've been making forward-looking statements on this call. Actual results could differ materially from those contemplated by our forward-looking statements. Report results should not be considered as an indication of future performance. Please take a look at our filings with the SEC for discussion of the factors that could cause our results to differ. Also, note that the forward-looking statements on this call are based on information available to us as of today's date. We disclaim any obligation to update any forward-looking statements, except as required by law. During this call, we will be describing preliminary gross profit growth results for the month of April. These represent our current estimate for April performance, as we have not yet closed our accounting financials for the month of April, and our month of results are not subject to interim review by our auditors. As a result, actual April results may differ from these estimates. Also, during this call, we will discuss certain non-GAAP financial measures. Reconciliations to the most directly comparable GAAP financial measures are provided in the show of the letter on our investor relations website. These non-GAAP measures are not intended to be a substitute for our GAAP results. Additionally, as a reminder, we discontinued the use of adjusted revenue in the third quarter of 2019. Following receipt of a comment letter from and discussions with the SEC. Our statement of operations continues to disclose total net revenue, transaction-based costs, and Bitcoin costs determined in accordance with GAAP, which are the key components of adjusted revenue. There are no changes to any other GAAP or non-GAAP metrics. We have posted a spreadsheet on our investor relations website with our historical financials and additional details related to our income statement. Finally, this call's entirety is being audio webcast on our investor relations website. An audio replay of this call will be available on our website shortly.

With that, I'd like to turn it over to Jack.