Shift4 Q2 beats: revenue less network fees +41% YoY; raises full-year guidance

Shift4 Payments, Inc.

End-to-end payment volume $40.1B (+50% YoY); gross revenue less network fees $320.6M (+41% YoY).
Adjusted EBITDA $162.4M (+48% YoY); adjusted net income $89.1M ($0.96 diluted EPS, up from $0.69 prior year).
Closed Revel acquisition; expects ~$15M EBITDA from Revel in H2 2024; Vectron deal majority closed for European expansion.
Raised full-year 2024 guidance for gross revenue less network fees, adjusted EBITDA, and adjusted free cash flow.
Hospitality vertical wins: Nobu, Whistler Blackcomb; Sports & Entertainment wins: Colts, Miami Heat, Chicago Bears.

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