Shift4 Payments Inc · Q3 2021 earnings

Briefing

Shift4 experienced strong growth and record end-to-end payment volume, despite a service disruption and the COVID delta variant during Q3 2021.

Shift4 Payments reported reasonably strong growth in Q3 2021, marked by a record end-to-end payment volume of $13.5 billion. The company reaffirmed and raised parts of its outlook for the year, setting bold expectations for 2022 and beyond, despite experiencing a notable service disruption and the impact of the COVID delta variant.

• Record quarterly end-to-end payment volume of $13.5 billion during Q3 2021, up approximately 90% from Q3 2020
• Record quarterly gross revenue of $377.8 million, up 76% from Q3 2020, or gross revenue adjusted for the TSYS outage of $400.2 million, up 86% from Q3 2020
• Gross revenue less network fees of $148.3 million, up 69% from Q3 2020
• Adjusted net income for the third quarter of 2021 was $21.6 million, or Adjusted net income per class A and C share of $0.26, basic and diluted

Headline financials

Revenue & EPS history

Shift4 is affirming three of its 2021 guidance measures (End-To-End Payment Volume, Total Revenues and Adjusted EBITDA) and increasing its guidance for Gross Revenue Less Network Fees.