Shift4 Payments, Inc.

Listed Company

FOUR-PACIK 0001794669NYSELarge AcceleratedServices-Business Services, NecFY ends Dec 31

Period

FY 2025

Revenue

$4.18B

Net Income

$119.00M

Total Assets

$8.71B

Equity

$1.44B

Shares Out

81.24M

Op. Cash Flow

$634.00M

Business

Shift4 Payments, Inc. is a leading independent provider of software and payment processing solutions that powers transaction acceptance and commerce operations for a broad spectrum of merchants. It offers a payments platform and integrated technology products including end-to-end payment processing, a proprietary omni-channel gateway, POS hardware and software (SkyTab), mobile and venue commerce solutions, eCommerce (Shift4Shop), business intelligence (Lighthouse), and a marketplace of third‑party integrations. Its business is organized around a payments platform, technology solutions, and sales/distribution functions. Shift4 serves primarily U.S. merchants and increasingly international markets through direct sales, internal support hubs, independent software vendor and value‑added reseller partnerships, and enterprise relationships.

Summary from filing dated 2025-02-19

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Gross revenue	4,180	3,331	2,565	1,994	1,368
Cost of sales (exclusive of certain depreciation and amortization expense shown separately below)	−2,752	−2,358	−1,877	−1,523	−1,089
General and administrative expenses	−682	−459	−329	−267	−220
Revaluation of contingent liabilities	4	−4	−23	37	−200,000
Depreciation and amortization expense	−290	−200	−154	−97	−62
Professional expenses	−87	−41	−33	−33	−17
Advertising and marketing expenses	−32	−22	−15	−15	−29
Gain on sale of subsidiaries	19	0	0	—	—
Impairment of intangible assets	−9	0	−19	0	0
Income from operations	351	247	115	95	−49
Loss on extinguishment of debt	−12	0	0	0	−200,000
Interest income	59	34	32	11	0
Other income (expense), net	−9	2	−4	500,000	100,000
Gain on investments in securities	0	67	12	15	—
Change in TRA liability	−4	−289	−3	−2	0
Interest expense	−190	−62	−32	−33	—
Income (loss) before income taxes	195	−1	120	87	−77
Income tax benefit (expense)	−48	296	3	−200,000	3
Net income	147	295	123	87	−74
Less: Net income attributable to noncontrolling interests	−28	−65	−37	−12	−26
Net income attributable to Shift4 Payments, Inc.	119	230	86	75	−48
Less: Dividends on Preferred Stock and redeemable noncontrolling interests	−40	0	0	—	—
Net income attributable to common stockholders	79	230	86	—	—
Weighted average common stock outstanding - basic (in shares)	1	2	2	4	—
Weighted average common stock outstanding - diluted (in shares)	1	2	2	4	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	964	1,212	455	703	1,232
Settlement assets	350	298	321	0	—
Accounts receivable, net	742	349	257	195	206
Prepaid expenses and other current assets	125	51	33	15	13
Total current assets	2,181	1,910	1,153	992	1,454
Equipment for lease, net	233	165	123	—	—
Property, plant and equipment, net	42	27	29	—	—
Right-of-use assets	67	37	23	20	19
Collateral held by the card networks	42	38	38	0	—
Goodwill	2,704	1,456	1,111	735	538
Other intangible assets, net	3,010	981	830	647	189
Deferred tax assets	391	397	0	—	—
Other noncurrent assets	43	31	81	11	2
Total assets	8,713	5,041	3,388	2,554	2,343
Current portion of debt	10	687	0	—	0
Settlement liabilities	343	293	315	0	—
Accounts payable	679	248	205	167	121
Accrued expenses and other current liabilities	229	120	82	80	43
Current portion of TRA liability	23	4	2	—	—
Deferred revenue	13	16	21	16	15
Current lease liabilities	17	11	8	5	5
Total current liabilities	1,314	1,379	704	268	184
Long-term debt	4,536	2,154	1,750	1,742	1,739
Noncurrent portion of TRA liability	346	361	3	—	—
Deferred tax liabilities	471	61	29	19	300,000
Noncurrent lease liabilities	53	29	19	18	18
Other noncurrent liabilities	36	39	14	27	2
Total liabilities	6,756	4,023	2,519	2,073	1,943
Commitments and contingencies (Note 15)	—	—	—	—	—
Redeemable noncontrolling interests	10	0	—	—	—
Additional paid-in capital	889	1,063	986	703	619
Accumulated other comprehensive income (loss)	47	−28	14	8	0
Retained deficit	−467	−228	−347	−364	−325
Total stockholders' equity attributable to Shift4 Payments, Inc.	1,442	807	653	347	273
Non-redeemable noncontrolling interests	505	211	215	133	127
Total stockholders' equity	1,947	1,018	869	481	400
Total liabilities and stockholders' equity	8,713	5,041	3,388	2,554	2,343

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	432	297	215	149	104
Equity-based compensation expense	82	65	57	50	41
Change in TRA liability	4	289	3	2	0
Amortization of capitalized financing costs, net of premium accretion	15	9	8	8	6
Provision for bad debts	16	7	9	10	11
Deferred income taxes	7	−322	−8	−2	−3
Unrealized foreign exchange losses	5	0	3	0	0
Other noncash items	0	−1	2	900,000	900,000
Accounts receivable	5	−75	−53	4	−121
Prepaid expenses and other assets	−5	−2	0	−2	−700,000
Capitalized customer acquisition costs	−61	−39	−34	−25	−26
Accounts payable	4	25	15	37	57
Accrued expenses and other liabilities	−4	42	2	8	5
Payments on contingent liabilities in excess of initial fair value	−1	−11	−18	0	0
Right-of-use assets and lease liabilities, net	−4	−1	0	−300,000	−500,000
Deferred revenue	−6	−15	−8	−2	700,000
Net cash provided by operating activities	634	500	346	275	3
Acquisitions, net of cash acquired	−2,745	−555	−170	−135	−55
Acquisition of equipment to be leased	−125	−101	−78	−54	−46
Capitalized software development costs	−99	−65	−44	−43	−21
Acquisition of property, plant and equipment	−10	−7	−14	−8	−8
Deposits with sponsor bank, net	−16	−73	0	0	—
Residual commission buyouts	−27	−16	−9	−276	−10
Proceeds from sale of subsidiaries	24	0	0	—	—
Purchase of intangible assets	0	0	−2	0	0
Proceeds from sale of investments in securities	3	126	15	0	0
Investments in securities	−3	0	0	−2	−31
Net cash used in investing activities	−2,998	−691	−302	−517	−171
Proceeds from long-term debt	2,832	1,100	0	0	633
Proceeds from preferred stock	1,000	0	0	—	—
Repayment of debt	−1,143	0	0	0	−900,000
Deferred financing costs	−79	−18	0	−5	−15
Settlement line of credit	16	73	0	0	—
Settlement activity, net	−36	55	42	0	—
Proceeds from common stock	88	0	0	—	—
Acquisition of noncontrolling interests	−71	0	0	—	—
Repurchases of Class A common stock	−453	−146	−105	−186	−20
Payments for withholding tax related to vesting of restricted stock units	−34	−33	−28	−23	−126
Payments of preferred dividends	−30	0	0	0	0
Payments on contingent liabilities	−15	−6	−15	−700,000	0
Distributions to noncontrolling interests	−19	−20	−3	0	0
Net change in bank deposits	0	−71	−1	0	0
Other financing activities	−1	−5	0	0	—
Net cash provided by (used in) financing activities	2,055	929	−110	−215	471
Effect of exchange rate changes on cash and cash equivalents and restricted cash	55	−21	11	1	0
Change in cash and cash equivalents and restricted cash	−254	717	−55	−455	304
Cash paid for interest	165	24	24	24	21
Cash paid for income taxes, net of refunds	63	14	5	700,000	400,000

Filings

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