Yes. Gross profit not net profit. At the time of the merger...

Yes. Gross profit not net profit. At the time of the merger Afterpay shareholders were expected to own 18.5% of the combined company. If you look at the recent quarter Afterpay made 242M in gross profit and Block made 2.003B. Afterpay accounted for 12% of Blocks GP. I think you are correct Afterpay shareholders came out better from the merger. However Block announced they are about allow their 23M Cash App Card holders to not only use their card as a debit card but they will also be able to pay in 4 using the card. BNPL is about to become a major part of Cash App. We will have to see how it goes.