Shift4 Payments delivered a strong fourth quarter and a transformative year, characterized by significant growth in gross profit and revenue less network fees, alongside robust adjusted EBITDA margins. The company is strategically positioning itself for continued global expansion and leveraging AI for operational efficiencies and product enhancement.
Gross profit grew 58% YoY to $429 million, and gross revenue less network fees (GRLNF) grew 51% YoY to $610 million.
positiveAdjusted EBITDA increased 48% YoY to $304 million, with an adjusted EBITDA margin of 50%.
positiveNet cash provided by operating activities increased 71% YoY to $224 million, and Adjusted Free Cash Flow increased 28% YoY to $171 million.
positiveVolume grew 23% YoY to $59 billion, with a 46% CAGR over the last four years.
positiveNet income decreased 62% YoY to $53 million, and GAAP diluted EPS decreased from $1.44 to $0.36.
negativeThe acquisition of Global Blue, while expanding geographic reach, is slightly dilutive to adjusted EBITDA margins and working capital in the near term.
attentionThe company's 2026 guidance for Gross Revenue Less Network Fees (GRLNF) growth is 26%-31%, which, while strong, includes mid-single-digit growth in Tax-Free Shopping and low-single-digit growth in subscription and other revenue, indicating potential moderation in certain segments.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total |
|---|---|---|---|---|
Payments-Based Revenue Less Network Fees | N/A | — | — | — |
Tax-Free Shopping (TFS) | N/A | — | — | — |
Subscription and Other Revenue | N/A | — | — | — |
| Total Revenue | $0.00M | — | — | 100.0% |
Segment performance shows business unit health and growth drivers.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
We power the Experience Economy, enabling businesses to deliver the Moments that Matter.
Our quarterly financial performance delivered a combination of growth, profitability, and several quarterly records.
We have been experts of the in-person commerce experience and grown steadily from small restaurants to serving the largest resort, sports and entertainment environments in the U.S.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.