Slide 1: Q4 2024 Shareholder Letter
Q4 2024 SHAREHOLDER LETTER INVESTORS.SHIFT4.COM
Slide 2: Forward-Looking Statements
Forward-Looking Statements This letter contains forward-looking statements within the We have based these forward-looking statements largely on variety of laws and regulations, including those relating meaning of the Private Securities Litigation Reform Act of our current expectations and projection
Slide 3: Dear Shareholders
Dear Shareholders, We wrapped up another reasonably strong quarter, executing well on our strategy – Over the next few weeks, after 26 years leading Shift4, I will transition my responsibilities to growing rapidly and profitably, generating free cash flow, improving our products, Taylor Lauber. Desp
Slide 4: Global Blue acquisition announcement letter
This brings us to the most significant acquisition announcement in Shift4’s history—one that will transform our ability to win in unified commerce in every major market across the globe. We are pleased to announce our acquisition of Global Blue in an all-cash transaction. This opportunity has been y
Slide 5: Performance Highlights Fourth Quarter 2024
Performance Highlights Q4 Fourth Quarter 2024 +49% YoY +47% YoY +50% YoY $139.3M • $205.9M Q4 END-TO-END PAYMENT VOLUME GROSS PROFIT GROSS REVENUE LESS NETWORK NET INCOME +51% YoY FEES(A) ADJUSTED EBITDA(A) • End-to-end ("E2E") payment volume of $47.9 billion during • Net income for Q4 2024 was $139
Slide 6: Restaurant Update
Restaurant Update Shift4 continues to gain market share in restaurants, winning new restaurants every day Finished 2024 with nearly 38,000 SkyTab system installs, far exceeding our original 30,000 goal for the year Installed hundreds of international restaurants across Canada, the UK, Ireland, and C
Slide 7: Hospitality Update: Alterra Mountain Company
Hospitality Update: Alterra Mountain Company Shift4 is proud to announce our second major collection of resort wins this quarter, Alterra, a group of Continuing 18 to expand Ikon-ic mountain market share in hospitality vertical destinations Includes the amazing Ikon pass! 7 7
Slide 8: Hospitality Update
Hospitality Update Continuing Continuing to to expand expandmarket marketshare shareininhospitality hospitalityvertical vertical Shift4 has extended and expanded our partnership to power payments at Great Wolf’s 22 U.S. locations, with plans to expand internationally starting with a new location ope
Slide 9: Hospitality Update
Hospitality Update Continuing Continuing to to expand expandmarket marketshare shareininhospitality hospitalityvertical vertical The Island at Fort Walton Beach ★ Harris Ranch Resort ★ This family friendly resort on Florida's Emerald Coast has everything Central California's Harris Ranch Resort deli
Slide 10: Sports & Entertainment Update
Sports & Entertainment Update Powering payments through POS, mobile ordering, ticketing, and more SIGNATURE WINS 10 VENUES! NOW WITH TICKETING Shift4 has partnered with Live Shift4 has expanded our relationship with Nation to power payments at the Yankees to now power the team’s American Airlines Ce
Slide 11: Unified Commerce Wins
Unified Commerce Wins Continuing to gain momentum in our Unified Commerce vertical NON-PROFITS RETAIL CRYPTO GAMING 1 11 1
Slide 12: Going Global
Going Global Shift4 continues Thousands to move of hotels, Boldly Forward restaurants, towards and unified becoming commerce a truly global merchants company are being added all over the world We Are Continuing to Follow Our Strategic Partner into New Geographies 1 12 2
Slide 13: Global Blue Acquisition Announcement
Global Blue Acquisition Announcement We are announcing today our largest acquisition yet: Global Blue One of two dominant platforms enabling payments, currency conversion, and tax refunds to the world's largest luxury brands Massive embedded >$500 billion payment cross-sell opportunity, bringing our
Slide 14: Introducing Our Full Year 2025 Guidance
Introducing Our Full Year 2025 Guidance We are introducing full year guidance for 2025* Volume $200 Billion TO $220 Billion +21% YoY +33% YoY Gross Revenue Less Network Fees $1.65 Billion TO $1.72 Billion +22% YoY +27% YoY Adjusted EBITDA $830 Million TO $855 Million +23% YoY +26% YoY Full Year Adju
Slide 15: Appendix - Financial Information
Appendix - Financial Information 15
Slide 16: Condensed Consolidated Balance Sheets
Fourth Quarter of 2024 Condensed Consolidated Balance Sheets UNAUDITED In millions December 31, 2024 December 31, 2023 ASSETS Current assets Cash and cash equivalents $ 1,211.9 $ 455.0 Restricted cash — 84.4 Settlement assets 298.1 321.2 Accounts receivable, net 348.7 256.8 Inventory 8.9 3.4 Prepaid
Slide 17: Condensed Consolidated Statements of Operations
Fourth Quarter of 2024 Condensed Consolidated Statements of Operations UNAUDITED In millions, except share and per share data Three Months Ended Twelve Months Ended December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Gross revenue $ 887.0 $ 705.4 $ 3,330.6 $ 2,564.8 Cost of sales
Slide 18: Condensed Consolidated Statements of Cash Flows
Fourth Quarter of 2024 Condensed Consolidated Statements of Cash Flows UNAUDITED In millions Three Months Ended Twelve Months Ended December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 OPERATING ACTIVITIES Net income $ 139.3 $ 19.2 $ 294.5 $ 122.9 Adjustments to reconcile net inco
Slide 19: Reconciliations of Gross Revenue to Gross Profit
Fourth Quarter of 2024 Reconciliations of Gross Revenue to Gross Profit and Gross Profit to Gross Revenue Less Network Fees UNAUDITED In millions Three Months Ended Twelve Months Ended December 31, 2024 December 31, 2023 December 31, 2024 December 31, 2023 Payments-based revenue $ 772.4 $ 648.0 $ 2,
Slide 20: Net Income to Adjusted EBITDA and Adjusted Net Income
Fourth Quarter of 2024 Reconciliations of Net Income to Non-GAAP Adjusted EBITDA and Net Income to Non-GAAP Adjusted Net Income UNAUDITED In millions, except share and per share data Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 NET INCOME $ 19.2 $ 28.5 $ 54.5 $ 72.2 $ 139.3 Interest expense 8.0 8.1 8.1 1
Slide 21: Operating Cash Flow to Free Cash Flow Reconciliation
Fourth Quarter of 2024 Reconciliation of Net Cash Provided by Operating Activities to Free Cash Flow and Adjusted Free Cash Flow UNAUDITED Three Months Ended In millions, except share and per share data December 31, March 31, June 30, September 30, December 31, 2023 2024 2024 2024 2024 NET CASH PROV
Slide 22: Reconciliation of Shares
Fourth Quarter of 2024 Reconciliation of Shares UNAUDITED Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 BEGINNING BALANCE Class A Shares 56,544,839 60,664,171 60,815,224 61,967,248 66,942,326 Class B Shares 23,831,883 23,831,883 23,831,883 23,750,968 19,801,028 Class C Shares 1,759,273 1,694,915 1,694,915