Overview
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- TickerFOUR on NYSE1
- IndustryServices-Business Services, NEC1
- HeadquartersCenter Valley, Pennsylvania1
- Business address3501 Corporate Parkway, Center Valley, Pa 180342
- Filer categoryLarge accelerated filer2
- Legal formCorporation
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In some cases, you can identify forward-looking statements by terms such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “could,” “intend,” “target,” “project,” “contemplate,” “believe,” “estimate,” “predict,” “potential,” or “continue” or the negative of these terms or other similar expressions, though not all forward-looking statements can be identified by such terms or expressions. The forward-looking statements in this Annual Report are only predictions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our business, financial condition and results of operations. These forward-looking statements speak only as of the date of this Annual Report and are subject to a number of important factors that could cause actual results to differ materially from those in …4 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
8.4%Operating margin5
2.8%Net margin5
25.5%Revenue growth, 20255
8.3%Return on equity5
3.15×Debt to equity5
$624.0MFree cash flow5
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Payments Based Revenue brought in 83% of the revenue Shift4 Payments, Inc. broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2023 | 2024 | 2025 |
|---|---|---|---|
| Payments Based Revenue | $2.4B | $3.0B | $3.5B |
| Subscription And Other Revenues | $179.0M | $341.0M | $454.0M |
| TFS Revenue | $0 | $0 | $255.0M |
Regions
United States brought in 79% of the revenue Shift4 Payments, Inc. broke down this way in fiscal 2025.
Regions by year
| Regions | 2023 | 2024 | 2025 |
|---|---|---|---|
| United States | $2.5B | $2.9B | $3.3B |
| Outside the United States | $101.0M | $420.0M | $868.0M |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Research and development0¢$6.0M
- Other costs96¢$4.0B
- Income tax1¢$48.0M
- Profit3¢$119.0M
Out of $4.2B in revenue.5
Where each dollar of operating cash went, fiscal 2025
- Capital spending2¢$10.0M
- Share buybacks71¢$453.0M
- Kept or used elsewhere27¢$171.0M
Out of $634.0M of cash from operations.5
Financial statements
Every line of the income statement as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Gross revenue | $4.2B | $3.3B | $2.6B |
| Cost of sales (exclusive of certain depreciation and amortization expense shown separately below) | -$2.8B | -$2.4B | -$1.9B |
| General and administrative expenses | -$682.0M | -$459.0M | -$329.0M |
| Revaluation of contingent liabilities | $4.0M | -$4.0M | -$23.0M |
| Depreciation and amortization expense | -$290.0M | -$200.0M | -$154.0M |
| Professional expenses | -$87.0M | -$41.0M | -$33.0M |
| Advertising and marketing expenses | -$32.0M | -$22.0M | -$15.0M |
| Gain on sale of subsidiaries | $19.0M | $0 | $0 |
| Impairment of intangible assets | -$9.0M | $0 | -$19.0M |
| Income from operations | $351.0M | $247.0M | $115.0M |
| Loss on extinguishment of debt | -$12.0M | $0 | $0 |
| Interest income | $59.0M | $34.0M | $32.0M |
| Other income (expense), net | -$9.0M | $2.0M | -$4.0M |
| Gain on investments in securities | $0 | $67.0M | $12.0M |
| Change in TRA liability | -$4.0M | -$289.0M | -$3.0M |
| Interest expense | -$190.0M | -$62.0M | -$32.0M |
| Income (loss) before income taxes | $195.0M | -$1.0M | $120.0M |
| Income tax benefit (expense) | -$48.0M | $296.0M | $3.0M |
| Net income | $147.0M | $295.0M | $123.0M |
| Less: Net income attributable to noncontrolling interests | -$28.0M | -$65.0M | -$37.0M |
| Net income attributable to Shift4 Payments, Inc. | $119.0M | $230.0M | $86.0M |
| Less: Dividends on Preferred Stock and redeemable noncontrolling interests | -$40.0M | $0 | $0 |
| Net income attributable to common stockholders | $79.0M | $230.0M | $86.0M |
| Weighted average common stock outstanding - basic (in shares) | 1.3M shares | 1.7M shares | 1.9M shares |
| Weighted average common stock outstanding - diluted (in shares) | 1.3M shares | 1.7M shares | 1.9M shares |
| Depreciation and amortization expenses of equipment | $74.0M | $54.0M | $35.0M |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $964.0M | $1.2B | ||
| Settlement assets | $350.0M | $298.0M | ||
| Accounts receivable, net | $742.0M | $349.0M | ||
| Prepaid expenses and other current assets | $125.0M | $51.0M | ||
| Total current assets | $2.2B | $1.9B | ||
| Equipment for lease, net | $233.0M | $165.0M | ||
| Property, plant and equipment, net | $42.0M | $27.0M | ||
| Right-of-use assets | $67.0M | $37.0M | ||
| Collateral held by the card networks | $42.0M | $38.0M | ||
| Goodwill | $2.7B | $1.5B | ||
| Other intangible assets, net | $3.0B | |||
| Deferred tax assets | $391.0M | $397.0M | ||
| Other noncurrent assets | $43.0M | $31.0M | ||
| Total assets | $8.7B | $5.0B | ||
| Current portion of debt | $10.0M | $687.0M | ||
| Settlement liabilities | $343.0M | $293.0M | ||
| Accounts payable | $679.0M | $248.0M | ||
| Accrued expenses and other current liabilities | $229.0M | $120.0M | ||
| Current portion of TRA liability | $23.0M | $4.0M | ||
| Deferred revenue | $13.0M | $16.0M | ||
| Current lease liabilities | $17.0M | $11.0M | ||
| Total current liabilities | $1.3B | $1.4B | ||
| Long-term debt | $4.5B | $2.2B | ||
| Noncurrent portion of TRA liability | $346.0M | $361.0M | ||
| Deferred tax liabilities | $471.0M | $61.0M | ||
| Noncurrent lease liabilities | $53.0M | $29.0M | ||
| Other noncurrent liabilities | $36.0M | $39.0M | ||
| Total liabilities | $6.8B | $4.0B | ||
| Redeemable noncontrolling interests | $10.0M | $0 | ||
| Additional paid-in capital | $889.0M | $1.1B | ||
| Accumulated other comprehensive income (loss) | $47.0M | -$28.0M | ||
| Retained deficit | -$467.0M | -$228.0M | ||
| Total stockholders' equity attributable to Shift4 Payments, Inc. | $1.4B | $807.0M | ||
| Non-redeemable noncontrolling interests | $505.0M | $211.0M | ||
| Total stockholders' equity | $1.9B | $1.0B | $869.0M | $481.0M |
| Total liabilities and stockholders' equity | $8.7B | $5.0B |
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Cash and cash equivalents | $964.0M | $1.2B | ||
| Settlement assets | $350.0M | $298.0M | ||
| Accounts receivable, net | $742.0M | $349.0M | ||
| Prepaid expenses and other current assets | $125.0M | $51.0M | ||
| Total current assets | $2.2B | $1.9B | ||
| Equipment for lease, net | $233.0M | $165.0M | ||
| Property, plant and equipment, net | $42.0M | $27.0M | ||
| Right-of-use assets | $67.0M | $37.0M | ||
| Collateral held by the card networks | $42.0M | $38.0M | ||
| Goodwill | $2.7B | $1.5B | ||
| Other intangible assets, net | $3.0B | |||
| Deferred tax assets | $391.0M | $397.0M | ||
| Other noncurrent assets | $43.0M | $31.0M | ||
| Total assets | $8.7B | $5.0B | ||
| Current portion of debt | $10.0M | $687.0M | ||
| Settlement liabilities | $343.0M | $293.0M | ||
| Accounts payable | $679.0M | $248.0M | ||
| Accrued expenses and other current liabilities | $229.0M | $120.0M | ||
| Current portion of TRA liability | $23.0M | $4.0M | ||
| Deferred revenue | $13.0M | $16.0M | ||
| Current lease liabilities | $17.0M | $11.0M | ||
| Total current liabilities | $1.3B | $1.4B | ||
| Long-term debt | $4.5B | $2.2B | ||
| Noncurrent portion of TRA liability | $346.0M | $361.0M | ||
| Deferred tax liabilities | $471.0M | $61.0M | ||
| Noncurrent lease liabilities | $53.0M | $29.0M | ||
| Other noncurrent liabilities | $36.0M | $39.0M | ||
| Total liabilities | $6.8B | $4.0B | ||
| Redeemable noncontrolling interests | $10.0M | $0 | ||
| Additional paid-in capital | $889.0M | $1.1B | ||
| Accumulated other comprehensive income (loss) | $47.0M | -$28.0M | ||
| Retained deficit | -$467.0M | -$228.0M | ||
| Total stockholders' equity attributable to Shift4 Payments, Inc. | $1.4B | $807.0M | ||
| Non-redeemable noncontrolling interests | $505.0M | $211.0M | ||
| Total stockholders' equity | $1.9B | $1.0B | $869.0M | $481.0M |
| Total liabilities and stockholders' equity | $8.7B | $5.0B |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 3 fiscal years, latest first.5
| Period ending | 2025-12-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|
| Net income | $147.0M | $295.0M | $123.0M |
| Depreciation and amortization | $432.0M | $297.0M | $215.0M |
| Equity-based compensation expense | $82.0M | $65.0M | $57.0M |
| Revaluation of contingent liabilities | -$4.0M | $4.0M | $23.0M |
| Impairment of intangible assets | $9.0M | $0 | $19.0M |
| Gain on investments in securities | $0 | -$67.0M | -$12.0M |
| Change in TRA liability | $4.0M | $289.0M | $3.0M |
| Amortization of capitalized financing costs, net of premium accretion | $15.0M | $9.0M | $8.0M |
| Loss on extinguishment of debt | $12.0M | $0 | $0 |
| Gain on sale of subsidiaries | -$19.0M | $0 | $0 |
| Provision for bad debts | $16.0M | $7.0M | $9.0M |
| Deferred income taxes | $7.0M | -$322.0M | -$8.0M |
| Unrealized foreign exchange losses | $5.0M | $0 | $3.0M |
| Other noncash items | $0 | -$1.0M | $2.0M |
| Accounts receivable | $5.0M | -$75.0M | -$53.0M |
| Prepaid expenses and other assets | -$5.0M | -$2.0M | $0 |
| Capitalized customer acquisition costs | -$61.0M | -$39.0M | -$34.0M |
| Accounts payable | $4.0M | $25.0M | $15.0M |
| Accrued expenses and other liabilities | -$4.0M | $42.0M | $2.0M |
| Payments on contingent liabilities in excess of initial fair value | -$1.0M | -$11.0M | -$18.0M |
| Right-of-use assets and lease liabilities, net | -$4.0M | -$1.0M | $0 |
| Deferred revenue | -$6.0M | -$15.0M | -$8.0M |
| Net cash provided by operating activities | $634.0M | $500.0M | $346.0M |
| Acquisitions, net of cash acquired | -$2.7B | -$555.0M | -$170.0M |
| Acquisition of equipment to be leased | -$125.0M | -$101.0M | -$78.0M |
| Capitalized software development costs | -$99.0M | -$65.0M | -$44.0M |
| Acquisition of property, plant and equipment | -$10.0M | -$7.0M | -$14.0M |
| Deposits with sponsor bank, net | -$16.0M | -$73.0M | $0 |
| Residual commission buyouts | -$27.0M | -$16.0M | -$9.0M |
| Proceeds from sale of subsidiaries | $24.0M | $0 | $0 |
| Purchase of intangible assets | $0 | $0 | -$2.0M |
| Proceeds from sale of investments in securities | $3.0M | $126.0M | $15.0M |
| Investments in securities | -$3.0M | $0 | $0 |
| Net cash used in investing activities | -$3.0B | -$691.0M | -$302.0M |
| Proceeds from long-term debt | $2.8B | $1.1B | $0 |
| Proceeds from preferred stock | $1.0B | $0 | $0 |
| Repayment of debt | -$1.1B | $0 | $0 |
| Deferred financing costs | -$79.0M | -$18.0M | $0 |
| Settlement line of credit | $16.0M | $73.0M | $0 |
| Settlement activity, net | -$36.0M | $55.0M | $42.0M |
| Proceeds from common stock | $88.0M | $0 | $0 |
| Acquisition of noncontrolling interests | -$71.0M | $0 | $0 |
| Repurchases of Class A common stock | -$453.0M | -$146.0M | -$105.0M |
| Payments for withholding tax related to vesting of restricted stock units | -$34.0M | -$33.0M | -$28.0M |
| Payments of preferred dividends | -$30.0M | $0 | $0 |
| Payments on contingent liabilities | -$15.0M | -$6.0M | -$15.0M |
| Distributions to noncontrolling interests | -$19.0M | -$20.0M | -$3.0M |
| Net change in bank deposits | $0 | -$71.0M | -$1.0M |
| Other financing activities | -$1.0M | -$5.0M | $0 |
| Net cash provided by (used in) financing activities | $2.1B | $929.0M | -$110.0M |
| Effect of exchange rate changes on cash and cash equivalents and restricted cash | $55.0M | -$21.0M | $11.0M |
| Change in cash and cash equivalents and restricted cash | -$254.0M | $717.0M | -$55.0M |
| Cash paid for interest | $165.0M | $24.0M | $24.0M |
| Cash paid for income taxes, net of refunds | $63.0M | $14.0M | $5.0M |
No quarter-by-quarter statement was filed.
Corporate structure
Shift4 Payments, Inc. sits at the top of its group. 187 entities, 57 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Shift4 Payments, Inc.
- Durable Capital Partners LP Filed SCHEDULE 13G/A on Shift4 Payments, Inc., latest Aug 14, 2026 (8 filings since Apr 14, 2022)
- BlackRock Filed SCHEDULE 13G/A on Shift4 Payments, Inc., latest Jul 30, 2026 (7 filings since Feb 8, 2022)
- WASATCH ADVISORS LP Filed SCHEDULE 13G/A on Shift4 Payments, Inc., latest Jul 17, 2026 (4 filings since Nov 14, 2024)
- DARLINGTON PARTNERS CAPITAL MANAGEMENT, LP Filed SCHEDULE 13G/A on Shift4 Payments, Inc., latest May 15, 2026 (4 filings since Mar 25, 2025)
- VANGUARD GROUP INC Filed SCHEDULE 13G/A on Shift4 Payments, Inc., latest Mar 27, 2026 (4 filings since Feb 10, 2022)
- Jared Isaacman Filed SCHEDULE 13G/A on Shift4 Payments, Inc., latest Feb 17, 2026 (5 filings since Feb 14, 2022)
- Prudential Financial Filed SCHEDULE 13G/A on Shift4 Payments, Inc., latest Feb 13, 2025 (2 filings since Feb 13, 2024)
- JENNISON ASSOCIATES LLC Filed SCHEDULE 13G/A on Shift4 Payments, Inc., latest Feb 11, 2025 (2 filings since Feb 8, 2024)
- Wellington Management Company Filed SC 13G/A on Shift4 Payments, Inc., latest Jun 6, 2024 (5 filings since Feb 4, 2022)
- AllianceBernstein Filed SC 13G/A on Shift4 Payments, Inc., latest Feb 14, 2024 (3 filings since Feb 14, 2022)
- Macquarie Group Filed SC 13G/A on Shift4 Payments, Inc., latest Feb 14, 2024 (4 filings since Nov 10, 2021)
- FMR LLC Filed SC 13G/A on Shift4 Payments, Inc., latest Feb 9, 2024 (2 filings since Feb 9, 2023)
- Shift4 Payments, Inc. Center Valley, Pennsylvania
- 1000986860 Ontario Inc. Subsidiary · Canada
- 1157487 Ontario Inc. dba Kalex Equipment Services Subsidiary · Canada
- 20910 ML USA IP Company, LLC Subsidiary · Delaware, United States
- AHT (Nova Scotia) Inc. Subsidiary · Canada
- AHT POS INC. Subsidiary · Canada
- Appetize Technologies, LLC Subsidiary · Delaware, United States
- Arrow HoldCo GmbH Subsidiary · Germany
- Bahamas VAT Refund Ltd Subsidiary · Bahamas
- C.C. Productions, LLC Subsidiary · New Jersey, United States
- Camdus Payment Solutions Pty Ltd Subsidiary · Australia
- Card Industry Professionals Ltd. Subsidiary · United Kingdom
- CARDLiquido S.A. de C.V. Subsidiary · Mexico
- Cash Japan Inc. Subsidiary · Japan
- Cash Paris Tax Refund Subsidiary · France
- CFC & FP Enterprises, LLC Subsidiary · California, United States
- CLP Liquido SpA Subsidiary · Chile
- COPLiquido S.A.S. Subsidiary · Colombia
- Counter Solutions Holdings Limited Subsidiary · United Kingdom
- Credorax (USA) LLC Subsidiary · Delaware, United States
- Data Control Systems, LLC of N.C. Subsidiary · North Carolina, United States
- DEV Digital Export Validation GmbH Subsidiary · Austria
- Eigen Development Ltd. Subsidiary · Canada
- Eigen Holdings (U.S.) Corp. Subsidiary · Nevada, United States
- Eigen Services (U.S.) Corp. Subsidiary · Nevada, United States
- Far Point Acquisition Corporation Subsidiary · Delaware, United States
- and 161 more
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Shift4 Payments, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Operating-lease assets (leased space) | $67.0M5 Dec 31, 2025 | $37.0M5 Dec 31, 2024 | +81.1% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $964.0M5 Dec 31, 2025 | $1.2B5 Dec 31, 2024 | −20.5% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Goodwill | $2.7B5 Dec 31, 2025 | $1.5B5 Dec 31, 2024 | +85.7% |
| Finite-lived intangibles, net | $3.0B5 Dec 31, 2025 | $980.9M9 Dec 31, 2024 | +206.9% |
Inventory
Properties, in its own words
We are headquartered in a leased office located in Center Valley, Pennsylvania. Our current lease expires on December 31, 2026.
In addition, we have various other leased premises in the U.S. and internationally. For leases that are scheduled to expire during the next 12 months, we may negotiate new lease agreements, renew existing lease agreements or use alternate facilities. We believe that our facilities are adequate for our needs and believe that we should be able to renew any of our leases or secure similar property without an adverse impact on our operations.
Item 2 of the 10-K filed Feb 27, 2026.4
Leadership
Who has led Shift4 Payments, Inc., and when. Pick a name to see everywhere that person has worked.
Chief executive
President
Chief financial officer
2025
- Chief executive officerDavid Taylor Lauber Jun 5, 2025 to now15
- PresidentDavid Taylor Lauber Feb 24, 2025 to now16
- Chief financial officerNancy Disman Dec 19, 2022 to now17
- Chief financial officerBradley Herring Jun 5, 2020 to Jun 10, 202218
Board members and other officers (13)
- OfficerChristopher Nestor Cruz Aug 8, 2025 to now19
- Chief Strategy OfficerDavid Taylor Lauber Jun 5, 2020 to Dec 11, 202420
- GC & Corporate SecretaryJordan Frankel Jun 5, 2020 to now21
- Chief System ArchitectKevin J. Cronic Jun 5, 2020 to Jun 10, 202122
- Board memberSeth Dallaire Feb 26, 2025 to now23
- Board memberDavid Taylor Lauber Jun 17, 2025 to now24
- Board memberSam Bakhshandehpour Oct 5, 2022 to now25
- Board memberKaren Roter Davis Aug 18, 2021 to now26
- Board memberAndrew Frey Jun 5, 2020 to Jun 14, 202127
- Board memberChristopher Nestor Cruz Jun 5, 2020 to now28
- Board memberDonald Isaacman Jun 5, 2020 to now29
- Board memberJonathan S. Halkyard Jun 5, 2020 to now30
- Board memberNancy Disman Jun 5, 2020 to now31
Named in SEC Form D filings
People the company listed in its private-offering notices.
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- 1000986860 Ontario Inc. Canada3
- 1157487 Ontario Inc. dba Kalex Equipment Services Canada3
- 20910 ML USA IP Company, LLC Delaware3
- AHT (Nova Scotia) Inc. Canada3
- AHT POS INC. Canada3
- Appetize Technologies, LLC Delaware3
- Arrow HoldCo GmbH Germany3
- Bahamas VAT Refund Ltd Bahamas3
- C.C. Productions, LLC New Jersey3
- CARDLiquido S.A. de C.V. Mexico3
- CFC & FP Enterprises, LLC California3
- CLP Liquido SpA Chile3
- COPLiquido S.A.S. Colombia3
- Camdus Payment Solutions Pty Ltd Australia3
- Card Industry Professionals Ltd. United Kingdom3
- Cash Japan Inc. Japan3
- Cash Paris Tax Refund France3
- Counter Solutions Holdings Limited United Kingdom3
- Credorax (USA) LLC Delaware3
- DEV Digital Export Validation GmbH Austria3
- Data Control Systems, LLC of N.C. North Carolina3
- Eigen Development Ltd. Canada3
- Eigen Holdings (U.S.) Corp. Nevada3
- Eigen Services (U.S.) Corp. Nevada3
All 194 listed subsidiaries
- FPOS Group, LLC Ohio3
- Far Point Acquisition Corporation Delaware3
- FourX Holdings, LLC Delaware3
- G.Blue Espana SA Spain3
- GBFTSP - Finance And Technology Services Portugal, Unipessoal LDA Portugal3
- Givex Australia Pty Limited Australia3
- Givex Brasil Serviços de Cartões-Presente e Programas de Fidelidade Ltda. Brazil3
- Givex Canada Corp. Canada3
- Givex Canada, Inc. Canada3
- Givex Cathay (Shenzhen, PRC) China3
- Givex Hong Kong Limited Hong Kong3
- Givex International Corporation Bahamas3
- Givex Mexico S.A. de C.V. Mexico3
- Givex Singapore Pte. Ltd. Singapore3
- Givex Switzerland SARL Switzerland3
- Givex Technology LLC Delaware3
- Givex UK Corporation Limited United Kingdom3
- Givex USA Corporation Delaware3
- Global Blue (South Africa) South Africa3
- Global Blue (UK) Ltd United Kingdom3
- Global Blue Acquisition BV Netherlands3
- Global Blue Acquisition Espana SA Spain3
- Global Blue Administration Center North OY Finland3
- Global Blue Americas Sucursal Colombia Colombia3
- Global Blue Argentina SA Argentina3
- Global Blue Argentina SA (Sucursal Uruguay) Uruguay3
- Global Blue Australia Pty Ltd Australia3
- Global Blue Austria GmbH Austria3
- Global Blue Bahamas Ltd Bahamas3
- Global Blue Belgium NV Belgium3
- Global Blue Commercial Consulting (Beijing) China3
- Global Blue Commercial Consulting (Shanghai) China3
- Global Blue Croatia d.o.o. Croatia3
- Global Blue Currency Choice Australia Pty Ltd Australia3
- Global Blue Currency Choice Italia Srl Italy3
- Global Blue Currency Choice Korea Co., Ltd South Korea3
- Global Blue Currency Choice Schweiz AG Switzerland3
- Global Blue Currency Choice Service Europe AB Sweden3
- Global Blue Currency Choice Singapore Pte. Ltd. Singapore3
- Global Blue Czech Republic s.r.o. Czechia3
- Global Blue Danmark AS Denmark3
- Global Blue Deutschland GmbH Germany3
- Global Blue Eesti OÜ Estonia3
- Global Blue Espana SA Spain3
- Global Blue Finland OY Finland3
- Global Blue France France3
- Global Blue Group AG Switzerland3
- Global Blue Group Holding GmbH Switzerland3
- Global Blue Group II GmbH Switzerland3
- Global Blue Hellas SA Greece3
- Global Blue Holding France3
- Global Blue Holding BV Netherlands3
- Global Blue Holdings AB Sweden3
- Global Blue Holland BV Netherlands3
- Global Blue India Holding Company Pte Ltd Singapore3
- Global Blue Italia SrL Italy3
- Global Blue Japan Co Ltd Japan3
- Global Blue Jersey Limited Jersey3
- Global Blue Kazakhstan LLP Kazakhstan3
- Global Blue Korea Co., Ltd. South Korea3
- Global Blue LLC Saudi Arabia3
- Global Blue Latvija SIA Latvia3
- Global Blue Lebanon SAL Lebanon3
- Global Blue Luxembourg SA Luxembourg3
- Global Blue Malaysia Sdn. Bhd Malaysia3
- Global Blue Marketing Services Ltd United Kingdom3
- Global Blue Maroc SA Morocco3
- Global Blue New Holdings Germany GmbH Germany3
- Global Blue New Holdings UK Ltd United Kingdom3
- Global Blue Norge AS Norway3
- Global Blue Payments (Australia) Pty Limited Australia3
- Global Blue Payments (New Zealand) Limited New Zealand3
- Global Blue Pazarlama Destek ve Teknoloji Hiz.A.s Turkey3
- Global Blue Peru S.A.C Peru3
- Global Blue Philippines Inc Philippines3
- Global Blue Polska Sp Zoo Poland3
- Global Blue Private Limited India3
- Global Blue SA Switzerland3
- Global Blue SA – FZ (DMCC) Branch Saudi Arabia3
- Global Blue Schweiz AG Switzerland3
- Global Blue Service AB Sweden3
- Global Blue Service Company Austria GmbH Austria3
- Global Blue Service Company Italia SrL Italy3
- Global Blue Service Company Singapore Pte. Ltd. Singapore3
- Global Blue Service Company Slovakia s.r.o Slovakia3
- Global Blue Service Company Slovakia s.r.o./Hungary Branch Office Hungary3
- Global Blue Service Company UK Ltd United Kingdom3
- Global Blue Singapore Pte. Ltd. Singapore3
- Global Blue Slovakia sro Slovakia3
- Global Blue Sverige AB Sweden3
- Global Blue Sweden Holdings AB Sweden3
- Global Blue TFS Brasil LTDA. Brazil3
- Global Blue TFS Japan Co Ltd Japan3
- Global Blue Tax Free Ireland Ltd Ireland3
- Global Blue Turistik Hizmetler A.Ş. Turkey3
- Global Blue Ventures Limited United Kingdom3
- Global Blue d.o.o. Beograd Serbia3
- Global Blue á Íslandi hf Iceland3
- Global Refund Portugal Lda Portugal3
- Information Systems & Supplies, LLC Washington3
- Inspiration4, LLC Delaware3
- Kinphire Ltd United Kingdom3
- Liquido BRL Pagamentos Digitais Ltda. Brazil3
- Liquido Brasil Participações Ltda. Brazil3
- Liquido Global PTE. LTD Singapore3
- Liquido Instituição de Pagamento Ltda. Brazil3
- Liquido Pay, S.A. de C.V. Mexico3
- MXN Liquido Mexico3
- Merchant-Link, LLC Delaware3
- Micros Retail Systems, LLC New Jersey3
- Odiuqil, LLC Delaware3
- Online Payments Group AG Switzerland3
- Owen Business Systems Ltd. Canada3
- PE Liquido, S.A. de C.V. Mexico3
- PERLiquido Peru3
- POSitouch, LLC Rhode Island3
- Pinnacle Hospitality Systems, LLC Delaware3
- Posmatic GmbH Germany3
- Postec, LLC Delaware3
- Retail Control Solutions, LLC Massachusetts3
- Revel Australia Pty Limited Australia3
- Revel Systems (GB) Limited United Kingdom3
- Revel Systems Canada, ULC Canada3
- Revel Systems Global, Pte. Ltd. Singapore3
- Revel Systems, Inc. Delaware3
- S4 HoldCo, LLC Delaware3
- S4 International Holdings, LP United Kingdom3
- S4-ML Holdings, LLC Delaware3
- Secret POS Systems, LLC Texas3
- Shift Four Israel Ltd. Israel3
- Shift4 Corporation Nevada3
- Shift4 Germany GmbH Germany3
- Shift4 Holdings Limited Malta3
- Shift4 Hong Kong Limited Hong Kong3
- Shift4 Japan KK Japan3
- Shift4 Limited Malta3
- Shift4 MX Gateway, LLC (US) Delaware3
- Shift4 Malta Limited Malta3
- Shift4 Payments Finance Sub, Inc. Delaware3
- Shift4 Payments Lithuania, UAB Lithuania3
- Shift4 Payments UK Limited United Kingdom3
- Shift4 Payments, LLC Delaware3
- Shift4 Services UAB Lithuania3
- Shift4 Solutions Limited Malta3
- Shift4 Solutions UK Limited United Kingdom3
- Shift4 Technology Limited Malta3
- Shift4Shop, LLC Delaware3
- ShipUp Holding SAS France3
- ShipUp SAS France3
- Smartpay Australia Pty Ltd Australia3
- Smartpay Holdings Limited New Zealand3
- Smartpay Limited New Zealand3
- Smartpay New Zealand Limited New Zealand3
- The Customer Connection II Limited Liability Company New Jersey3
- The Giving Block Holdings, LLC Delaware3
- UAB Global Blue Lietuva Lithuania3
- ValuAccess Limited Hong Kong3
- Vectron Systems AG Germany3
- VenueNext, LLC Delaware3
- Yocuda Europe Ltd United Kingdom3
- Yocuda Network UK Ltd United Kingdom3
- Yocuda UK Holdings Ltd United Kingdom3
- ZZ Global Blue Holding Limited United Kingdom3
- ZigZag Global EOOD Bulgaria3
- ZigZag Global GmbH Germany3
- ZigZag Global LLC Delaware3
- ZigZag Global Limited United Kingdom3
- ZigZag Global SAS France3
- Zigzag Global Iberia S.L Spain3
- iControl-Enterprise, LLC Delaware3
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Timeline
- Aug 6, 20268-K Results of operations33
- Jul 13, 20268-K Entered a material agreement; New debt or obligation34
- Jun 17, 20268-K Shareholder vote35
- May 7, 20268-K Results of operations36
- Mar 9, 20268-K Executive or director change; Regulation FD disclosure37
- Feb 26, 20268-K Results of operations38
- Feb 10, 20268-K Entered a material agreement39
- Jan 5, 20268-K Entered a material agreement; New debt or obligation40
- Dec 18, 20258-K Entered a material agreement; Executive or director change41
- Dec 8, 20258-K Entered a material agreement; New debt or obligation42
- Dec 4, 20258-K Regulation FD disclosure43
- Nov 6, 20258-K Results of operations44
- Jun 5, 2025New chief executive David Taylor Lauber becomes CEO15
Calendar
Coming up
- Nov 5, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $1.33 a share, on Nov 6, 2025.45
When it reported results
- Aug 6, 2026Reported quarterly or annual results33
- May 7, 2026Reported quarterly or annual results36
- Feb 26, 2026Reported quarterly or annual results38
- Nov 6, 2025Reported quarterly or annual results44
- Aug 5, 2025Reported quarterly or annual results46
- Apr 29, 2025Reported quarterly or annual results47
- Feb 18, 2025Reported quarterly or annual results48
- Nov 12, 2024Reported quarterly or annual results49
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
389 filings to the SEC since October 2021: 6 annual reports, 17 quarterly reports, 64 major events, 166 insider forms, 56 large holders, 5 private raises, 75 other. The latest 20:
- Aug 14, 2026SCHEDULE 13G/A EDGAR
- Aug 7, 20264 EDGAR
- Aug 6, 202610-Q EDGAR
- Aug 6, 20268-K EDGAR
- Aug 6, 2026S-8 EDGAR
- Jul 30, 2026SCHEDULE 13G/A EDGAR
- Jul 17, 2026SCHEDULE 13G/A EDGAR
- Jul 13, 20268-K EDGAR
- Jun 17, 20264 EDGAR
- Jun 17, 20264 EDGAR
- Jun 17, 20264 EDGAR
- Jun 17, 20264 EDGAR
- Jun 17, 20264 EDGAR
- Jun 17, 20264 EDGAR
- Jun 17, 20268-K EDGAR
- Jun 9, 20264 EDGAR
- May 15, 2026SCHEDULE 13G/A EDGAR
- May 15, 2026SCHEDULE 13G/A EDGAR
- May 13, 20264 EDGAR
- May 7, 202610-Q EDGAR
The 389 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
64 open-market trades by officers, directors and large owners since October 2021: 17 buys and 47 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| May 12, 2026 | Isaacman Jared10% owner | Buy | 193,000 | $40.66 | $7.8M | Form 4 |
| May 11, 2026 | Isaacman Jared10% owner | Buy | 195,500 | $41.41 | $8.1M | Form 4 |
| Mar 10, 2026 | Isaacman Jared10% owner | Buy | 43,827 | $45.75 | $2.0M | Form 4 |
| Mar 2, 2026 | Isaacman Jared10% owner | Buy | 45,693 | $43.83 | $2.0M | Form 4 |
| Feb 27, 2026 | Isaacman Jared10% owner | Buy | 159,244 | $44.15 | $7.0M | Form 4 |
| Feb 26, 2026 | Isaacman Jared10% owner | Buy | 136,993 | $48.38 | $6.6M | Form 4 |
| Dec 11, 2025 | Disman NancyDirector | Sale | 5,000 | $69.50 | $347.5K | Form 4 |
| Dec 11, 2025 | Lauber David TaylorChief Executive Officer | Sale | 12,000 | $69.00 | $828.1K | Form 4 |
| Nov 12, 2025 | Whalen James J.See Remarks | Sale | 1,438 | $71.50 | $102.8K | Form 4 |
| Sep 15, 2025 | Disman NancyDirector | Sale | 5,000 | $87.28 | $436.4K | Form 4 |
| Sep 3, 2025 | Lauber David TaylorChief Executive Officer | Sale | 2,500 | $88.59 | $221.5K | Form 4 |
| Aug 15, 2025 | Whalen James J.See Remarks | Sale | 794 | $89.90 | $71.4K | Form 4 |
| Aug 11, 2025 | Isaacman Jared10% owner | Buy | 104,705 | $83.61 | $8.8M | Form 4 |
| Aug 8, 2025 | Isaacman Jared10% owner | Buy | 91,721 | $81.90 | $7.5M | Form 4 |
| Jun 30, 2025 | Davis Karen RoterDirector | Sale | 750 | $100.00 | $75.0K | Form 4 |
| Jun 30, 2025 | Goldsmith-Grover SarahDirector | Sale | 2,957 | $100.00 | $295.7K | Form 4 |
| Jun 16, 2025 | Disman NancyDirector | Sale | 10,000 | $90.33 | $903.3K | Form 4 |
| Jun 12, 2025 | Davis Karen RoterDirector | Sale | 2,757 | $94.53 | $260.6K | Form 4 |
| Jun 12, 2025 | Goldsmith-Grover SarahDirector | Sale | 1,000 | $94.53 | $94.5K | Form 4 |
| Jun 9, 2025 | Frankel JordanSee Remarks | Sale | 5,000 | $94.57 | $472.9K | Form 4 |
All 64 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Durable Capital Partners LPSCHEDULE 13G/A, 8 filings Apr 14, 2022 to Aug 14, 202650
- BlackRockSCHEDULE 13G/A, 7 filings Feb 8, 2022 to Jul 30, 202651
- WASATCH ADVISORS LPSCHEDULE 13G/A, 4 filings Nov 14, 2024 to Jul 17, 202652
- DARLINGTON PARTNERS CAPITAL MANAGEMENT, LPSCHEDULE 13G/A, 4 filings Mar 25, 2025 to May 15, 202653
- VANGUARD GROUP INCSCHEDULE 13G/A, 4 filings Feb 10, 2022 to Mar 27, 202654
- Jared IsaacmanSCHEDULE 13G/A, 5 filings Feb 14, 2022 to Feb 17, 202655
- Prudential FinancialSCHEDULE 13G/A, 2 filings Feb 13, 2024 to Feb 13, 202556
- JENNISON ASSOCIATES LLCSCHEDULE 13G/A, 2 filings Feb 8, 2024 to Feb 11, 202557
- Wellington Management CompanySC 13G/A, 5 filings Feb 4, 2022 to Jun 6, 202458
- AllianceBernsteinSC 13G/A, 3 filings Feb 14, 2022 to Feb 14, 202459
- Macquarie GroupSC 13G/A, 4 filings Nov 10, 2021 to Feb 14, 202460
- FMR LLCSC 13G/A, 2 filings Feb 9, 2023 to Feb 9, 202461
- Ameriprise FinancialSC 13G/A, 2 filings Feb 14, 2022 to Feb 14, 202362
- Southpoint Capital Advisors LPSC 13G/A, 3 filings Dec 17, 2021 to Feb 10, 202363
- Searchlight Capital Partners II GP, LLCSC 13G/A, 1 filing Feb 15, 202264
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Christopher N. CruzChief Financial Officer | 42 | $173.1K | $18.9M65 |
| 2025 | Taylor LauberChief Executive Officer | 42 | $454.4K | $12.2M65 |
| 2024 | Taylor LauberChief Executive Officer | 42 | $350.0K | $6.6M65 |
| 2023 | Taylor LauberChief Executive Officer | 42 | $350.0K | $6.6M65 |
Funding
Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.
- Private raises (Form D) $38.5M
Figures by year
| Year | Private raises (Form D) | Total |
|---|---|---|
| 2023 | $1.2M | $1.2M |
| 2022 | $37.3M | $37.3M |
Private raises
Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.
- Jan 23, 2023Raised $1.2 million in a private offering of equity32 Form D: 8 investors so far Form D
- Dec 19, 2022Raised $4 million in a private offering of equity66 Form D: 22 investors so far Form D
- Oct 31, 2022Raised $7.9 million in a private offering of equity67 Form D: 33 investors so far Form D
- Aug 31, 2022Raised $24.8 million in a private offering of equity68 Form D: 100 investors so far Form D
- Jun 15, 2022Raised $624,143 in a private offering of equity69 Form D: 1 investor so far Form D
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| Darlington Partners Capital Management, LP | 7,161,844 | $348.4M | 15.4% | +585,335 |
| BlackRock, Inc. | 5,584,763 | $271.6M | 0.0% | −869,069 |
| Durable Capital Partners LP | 4,423,633 | $215.2M | 2.1% | −1,742,160 |
| Ensign Peak Advisors, Inc | 3,058,581 | $148.8M | 0.2% | −47,860 |
| Neuberger Berman Group LLC | 2,649,220 | $128.9M | 0.1% | +129,315 |
| Vanguard Capital Management LLC | 2,557,320 | $124.4M | 0.0% | +271,136 |
| Vanguard Portfolio Management LLC | 2,324,424 | $113.1M | 0.0% | +300,492 |
| Wasatch Advisors LP | 2,169,197 | $105.5M | 0.7% | −2,037,047 |
| Marshall Wace, Llp | 2,031,890 | $98.8M | 0.1% | +115,218 |
| State Street Corp | 1,974,769 | $96.0M | 0.0% | −92,193 |
| Jupiter Topco LLC | 1,847,588 | $89.9M | 0.0% | New |
| Spyglass Capital Management LLC | 1,833,803 | $89.2M | 4.8% | +82,663 |
| Fmr LLC | 1,693,517 | $82.4M | 0.0% | +805,905 |
| Geode Capital Management, LLC | 1,226,603 | $80.8M | 0.0% | −194,361 |
| Citadel Advisors LLC | 1,246,944 | $60.7M | 0.0% | New |
| Clearbridge Investments, LLC | 1,196,187 | $58.2M | 0.0% | −623,192 |
| Point72 Asset Management, L.P. | 1,171,428 | $57.0M | 0.1% | +746,913 |
| Fuller & Thaler Asset Management, Inc. | 1,149,918 | $55.9M | 0.2% | −40,023 |
| Portolan Capital Management, LLC | 1,114,116 | $54.2M | 2.0% | +899,832 |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | 1,082,866 | $52.7M | 0.0% | −50,447 |
| Goodnow Investment Group, LLC | 1,047,530 | $51.0M | 5.3% | +193,300 |
| UBS Group AG | 1,035,766 | $50.4M | 0.0% | −1,115,202 |
| Rice Hall James & Associates, LLC | 874,492 | $42.5M | 2.1% | +26,766 |
| Long Focus Capital Management, LLC | 812,000 | $39.5M | 1.6% | +137,000 |
| Private Management Group Inc | 735,225 | $35.8M | 0.9% | +280,983 |
13F reports cover disclosed long positions in U.S. stocks only.
Members of Congress who traded it
5 trades disclosed by members of Congress. “Vs S&P since” is the stock’s change since the trade minus the S&P 500’s.
| Date | Member | Trade | Amount | Vs S&P since | Filing |
|---|---|---|---|---|---|
| Nov 30, 2022 | Susie LeeDemocratic, House | Sale | $1,001 - $15,000 | +104.4% | Report |
| Sep 24, 2021 | Susie LeeDemocratic, House | Buy | $1,001 - $15,000 | −128.5% | Report |
| Aug 20, 2021 | Susie LeeDemocratic, House | Buy | $1,001 - $15,000 | −124.2% | Report |
| May 26, 2021 | Susie LeeDemocratic, House | Buy | $1,001 - $15,000 | −142.1% | Report |
| Nov 4, 2020 | Susie LeeDemocratic, House | Buy | $1,001 - $15,000 | −151.8% | Report |
Members report amounts as ranges, not exact figures. Returns are price-only (no dividends).
SEC filer profile
How Shift4 Payments, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARShift4 Payments, Inc.1
- CIK0001794669
- Employer ID (EIN)84-36763404
- Filer statusLarge accelerated filer not an emerging growth company; not a smaller reporting company; not a shell company4
- Incorporated inDelaware4
- Fiscal year endsDecember 311
- Industry code (SIC)7389 Services-Business Services, NEC1
- SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
- Business address3501 Corporate Parkway, Center Valley, PA 180341
- Phone888.276.2108 X12201
- Shares outstanding78,960,120 as of Jul 31, 202613
- Public float$6.4B as of Jun 30, 20254
- AuditorPricewaterhouseCoopers LLP, Philadelphia, Pennsylvania PCAOB ID 238; it also attests to the company’s internal control over financial reporting4
- On EDGAR sinceNov 27, 20191
- Filings534 in all: 4 (216), 8-K (81), 144 (37), SC 13G/A (25), 10-Q (19), SCHEDULE 13G/A (19), 3 (17), SC 13G (15)1
All 38 form types
CORRESP (10), UPLOAD (9), S-8 (8), DEFA14A (7), 10-K (6), DEF 14A (6), SC TO-T/A (6), D (5), 4/A (3), 424B4 (3), 424B5 (3), 8-K/A (3), DRS (3), DRSLTR (3), EFFECT (3), S-1 (3), S-3ASR (3), 10-Q/A (2), 5 (2), 8-A12B (2), CERT (2), DRS/A (2), FWP (2), S-1/A (2), SCHEDULE 13G (2), 10-K/A (1), 3/A (1), 424B7 (1), PRE 14A (1), SC TO-T (1)
- Latest filingsAnnual report (10-K) Feb 27, 2026
Quarterly report (10-Q) Aug 6, 2026
Proxy statement (DEF 14A) Apr 30, 2026
Latest 8-K (8-K) Aug 6, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Class A Common Stock, $0.0001 par value per share | FOUR | The New York Stock Exchange |
| Series A Mandatory Convertible Preferred Stock, $0.0001 par value per share | FOUR.PRA | The New York Stock Exchange |
From the cover page of the 10-K filed Feb 27, 2026 (Section 12(b) of the Exchange Act).4
Risk factors and legal proceedings
The risks Shift4 Payments, Inc. names in Item 1A of its 10-K filed Feb 27, 2026: 74 risks under these headings, as written.4
- Business risks
- We may be unable to integrate the Global Blue business successfully or realize the anticipated synergies and related benefits of the Global Blue Merger.
- The combined company may not be able to retain existing third-party relationships, or such third parties may seek to modify contractual relationships with the combined company, which could have an adverse effect on the combined company’s business and operations. Third parties may terminate or alter existing contracts or relationships with us or Global Blue.
- Substantial and increasingly intense competition worldwide in the financial services, payments and payment technology industries may adversely affect our overall business and operations.
- TFS is a competitive industry and we may lose merchant accounts to our competitors.
- Potential changes in the competitive landscape, including disintermediation from other participants in the payments chain, could harm our business.
- Global economic, political and other conditions may adversely affect trends in consumer, business and government spending, which may adversely impact the demand for our services and our revenue and profitability.
- A decrease in VAT rates or changes in VAT or VAT refund policies in countries in which our TFS business operates could negatively affect our TFS business.
- Price harmonization or convergence between destination geographies and home geographies may adversely affect our business.
- Our TFS business is dependent on our airport concessions and agreements with agents.
- Our business may be adversely affected by disintermediation of TFS processes.
- We are exposed to fluctuations in inflation, which could negatively affect our business, financial condition and results of operations.
The other 63 risks
- Our ability to anticipate and respond to changing industry trends and the needs and preferences of our merchants and consumers may adversely affect our competitiveness or the demand for our products and services.
- Our use of artificial intelligence and machine learning tools may subject us to regulatory requirements and additional risks and may adversely impact our reputation and the performance of our products, service offerings and business.
- Because we rely on third-party vendors to provide products and services, we could be adversely impacted if they fail to fulfill their obligations.
- Acquisitions, dispositions, and other strategic transactions create certain risks and may adversely affect our business, financial condition or results of operations.
- We expect to consider from time to time further strategic opportunities that may involve acquisitions, dispositions, investments in joint ventures, partnerships, and other strategic alternatives that may enhance shareholder value, any of which may result in the use of a significant amount of management resources or significant costs, and we may not be able to fully realize the potential benefit of such transactions.
- Our DPLTA with Vectron may subject us to certain risks that could adversely affect our business, financial condition or results of operations.
- Our inability to protect our IT Systems and Confidential Information, as well as the IT Systems of third parties we rely on, from continually evolving cybersecurity risks, security breaches or other technological risks could affect our reputation and brand among our merchants and consumers and may expose us to material financial penalties and legal liability.
- We collect, process, store, and use data, including personal information, which subjects us to governmental regulation and other legal obligations, particularly related to privacy, data protection and information security, and marketing across different markets where we conduct our business. Our actual or perceived failure to comply with such obligations could harm our business and/or result in reputational harm, loss of customers, material financial penalties and legal liabilities.
- We are subject to EU and UK financial services laws and regulations. We may also be subject to laws and regulations relating to cryptocurrencies in various jurisdictions where we conduct our business. Such laws and regulations can be complex, are subject to change, and complying with them across various jurisdictions imposes operational, time, and cost constraints on our business. Our actual or perceived failure to comply with such obligations could harm our business and/or result in reputational harm, loss of customers, material financial penalties and legal liabilities.
- We may experience failures in our IT Systems due to software defects, misconfigurations, “bugs”, computer viruses and development delays, which could damage customer relations, and our reputation and brand, and expose us to material financial penalties and legal liability.
- We may not be able to continue to expand our share of the existing payment processing markets or expand into new industries, which would inhibit our ability to grow and increase our profitability.
- As we expand into new geographies, we are subject to additional risks associated with our international operations, including compliance with and changes in foreign regulations and governmental policies.
- Our services and products must integrate with a variety of operating systems, software, devices and web browsers, and our business may be materially and adversely affected if we are unable to ensure that our services interoperate with such operating systems, software, devices and web browsers.
- We depend, in part, on our merchant and software partner relationships and strategic partnerships with various institutions to operate and grow our business. If we are unable to maintain these relationships and partnerships, our business may be adversely affected.
- A significant number of our merchants are small- and medium-sized businesses and small affiliates of large companies, which can be more difficult and costly to retain than larger enterprises and may increase the impact of economic fluctuations on us.
- Degradation of the quality of the products and services we offer, including support services, could adversely impact our ability to attract and retain merchants and software partners.
- Health concerns arising from the outbreak of an epidemic or pandemic may have an adverse effect on our business.
- Increased customer attrition could cause our financial results to decline.
- Fraud by merchants or others could adversely affect our business, financial condition or results of operations.
- Our ability to recruit, retain and develop qualified personnel in compliance with applicable federal and other laws and regulations is critical to our success and growth.
- We incur chargeback liability when our merchants refuse to or cannot reimburse chargebacks resolved in favor of their customers. Any increase in chargebacks not paid by our merchants may adversely affect our business, financial condition or results of operations.
- We expend significant resources pursuing sales opportunities, and if we fail to close sales after expending significant time and resources to do so, our business, financial condition and results of operations could be adversely affected.
- There may be a decline in the use of cards as a payment mechanism for consumers or adverse developments with respect to the card industry in general.
- Our failure to address the operational, compliance and regulatory risks associated with our payment methods or practices could damage our reputation and brand and may cause our business and results of operations to suffer.
- Increases in card network fees and other changes to fee arrangements may result in the loss of merchants or a reduction in our earnings.
- Certain key components are procured from a limited number of suppliers. Thus, we are at risk of shortage, price increases, tariffs, changes, delay, or discontinuation of key components, which could disrupt and materially and adversely affect our business.
- Financial risks
- Our balance sheet includes significant amounts of goodwill and intangible assets. The impairment of a significant portion of these assets would negatively affect our business, financial condition or results of operations.
- Our substantial indebtedness could adversely affect our ability to raise additional capital to fund our operations, limit our ability to react to changes in the economy or our industry, expose us to interest rate risk to the extent of our variable rate debt and prevent us from meeting our debt obligations.
- Restrictions imposed by the agreements governing our Notes and our Credit Facilities may materially limit our ability to operate our business and finance our future operations or capital needs.
- Our results of operations may be adversely affected by changes in foreign currency exchange rates.
- New or revised tax regulations or their interpretations, or becoming subject to additional foreign or U.S. federal, state or local taxes that cannot be passed through to our merchants or partners, could reduce our net income.
- If we cannot pass along increases in interchange and other fees from payment networks to our merchants, our operating margins would be reduced.
- The conditional conversion feature of the 2027 Convertible Notes, if triggered, may adversely affect our financial condition and results of operations.
- Legal and regulatory risks
- Failure to comply with the FCPA, anti-money laundering, economic and trade sanctions regulations, and similar laws could subject us to penalties and other adverse consequences.
- Failure to protect, enforce and defend our intellectual property rights may diminish our competitive advantages or interfere with our ability to market and promote our products and services.
- Our existing patents may not be valid, and we may not be able to obtain and enforce additional patents to protect our proprietary rights from use by potential competitors. Companies with other patents could require us to stop using or pay to use required technology.
- Failure to comply with, or changes in, laws, regulations, executive orders and enforcement activities may adversely affect the products, services and markets in which we operate.
- From time to time we are subject to various legal proceedings which could adversely affect our business, financial condition or results of operations.
- Risks related to our organizational structure
- Our principal asset is our interest in Shift4 Payments, LLC, and, as a result, we depend on distributions from Shift4 Payments, LLC to pay our taxes and expenses, including payments under the Tax Receivable Agreement (“TRA”). Shift4 Payments, LLC’s ability to make such distributions may be subject to various limitations and restrictions.
- The TRA with Searchlight, our former sponsor, requires us to make cash payments to them in respect of certain tax benefits to which we may become entitled, and we expect that the payments we are required to make will be substantial.
- Our organizational structure, including the TRA, confers certain benefits upon Searchlight that will not benefit holders of our Class A common stock to the same extent that it will benefit Searchlight.
- In certain cases, payments under the TRA to Searchlight may be accelerated or significantly exceed any actual benefits we realize in respect of the tax attributes subject to the TRA.
- We will not be reimbursed for any payments made to Searchlight under the TRA in the event that any tax benefits are disallowed.
- Unanticipated changes in effective tax rates or adverse outcomes resulting from examination of our income or other tax returns could adversely affect our results of operations and financial condition.
- If we redeem or repurchase shares of our stock in the future, we could be subject to excise tax.
- Our ability to use our net operating losses (“NOLs”) to offset future taxable income may be subject to certain limitations.
- Risks related to the ownership of our Class A common stock
- Our Founder has significant influence over us, including control over decisions that require the approval of stockholders, including a change in control.
- We are subject to rules and regulations established from time to time by the SEC and the NYSE regarding our internal control over financial reporting. If we fail to establish and maintain effective internal control over financial reporting and disclosure controls and procedures, we may not be able to accurately report our financial results, or report them in a timely manner.
- We are no longer considered a “controlled company” within the meaning of the NYSE listing requirements. However, we will continue to qualify for, and intend to rely on, exemptions from certain corporate governance requirements during a one-year transition period. As a result, our stockholders may not have the same protections afforded to stockholders of companies that are subject to such corporate governance requirements.
- Certain provisions of Delaware law and antitakeover provisions in our organizational documents could delay or prevent a change of control.
- Future sales, or the perception of future sales, by us or our existing stockholders in the public market could cause the market price for our Class A common stock to decline.
- Risks Related to the Preferred Stock
- The Preferred Stock is junior to our indebtedness and structurally junior to the liabilities of our subsidiaries.
- We are a holding company and will depend upon funds from our subsidiaries, including Shift4 Payments, LLC, to pay cash dividends on the Preferred Stock.
- Holders of our Preferred Stock will bear the risk of fluctuations in the trading price of our Class A common stock.
- If the trading price of our Class A common stock increases, then a direct investment in our Class A common stock will earn higher returns from such increase than would an investment in the Preferred Stock.
- We may not have sufficient funds to pay, or may choose not to pay, dividends on the Preferred Stock at current or planned rates or at all. In addition, regulatory and contractual restrictions may prevent us from declaring or paying dividends.
- Not all events that may adversely affect the trading price of the Preferred Stock and our Class A common stock will result in an adjustment to the boundary conversion rates and the boundary conversion prices.
- The make-whole fundamental change provisions may not adequately compensate you for any loss in the value of the Preferred Stock that may result from a make-whole fundamental change.
- The Preferred Stock has only limited voting rights.
- You will have no rights with respect to our Class A common stock until the Preferred Stock is converted, but you may be adversely affected by certain changes made with respect to our Class A common stock.
- We may issue preferred stock in the future that ranks equally with the Preferred Stock with respect to dividends or liquidation rights, which may adversely affect the rights of preferred stockholders.
- If an active trading market for the Preferred Stock does not develop, then preferred stockholders may be unable to sell their Preferred Stock at desired times or prices, or at all.
- The trading price of our Class A common stock, the condition of the financial markets, prevailing interest rates and other factors could significantly affect the trading price of the Preferred Stock.
Legal proceedings
Our material legal proceedings are described in Part II, Item 8 of this Form 10-K in the Notes to Consolidated Financial Statements in Note 16, “Commitments and Contingencies.”
The opening of Item 3, Legal Proceedings.4
Sources
The numbers on this page point here. Each one links to the record it came from.
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- 16SEC EDGARDavid Taylor Lauber, President
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- 19SEC EDGARChristopher Nestor Cruz, Officer
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- 23SEC EDGARSeth Dallaire, Board member
- 24SEC EDGARDavid Taylor Lauber, Board member
- 25SEC EDGARSam Bakhshandehpour, Board member
- 26SEC EDGARKaren Roter Davis, Board member
- 27SEC EDGARAndrew Frey, Board member
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- 29SEC EDGARDonald Isaacman, Board member
- 30SEC EDGARJonathan S. Halkyard, Board member
- 31SEC EDGARNancy Disman, Board member
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- 33SEC EDGARResults of operations
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- 35SEC EDGARShareholder vote
- 36SEC EDGARResults of operations
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- 38SEC EDGARResults of operations
- 39SEC EDGAREntered a material agreement
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- 43SEC EDGARRegulation FD disclosure
- 44SEC EDGARResults of operations
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