Shift4 Payments (FOUR) Q2 2026 earnings summary

Executive summary

• Delivered record Q2 2026 results, exceeding all guided metrics, with gross revenue rising 34% year-over-year to $1.30 billion, driven by strong payments-based revenue, international expansion, and recent acquisitions such as Global Blue and Bambora.

• Payments technology showcased at the World Cup, reinforcing operational excellence in high-stakes environments.

• Net income for Q2 2026 was $24 million, down from $41 million in Q2 2025, reflecting higher operating expenses and interest costs.

• Resilient performance despite ongoing travel disruptions from Middle East conflict, with diversified portfolio offsetting regional headwinds.

• Signed a definitive agreement in August 2026 to acquire an account-to-account payments company for up to $316 million.

Financial highlights

• Gross revenue reached $1.30 billion, up 34% year-over-year, surpassing $1.17 billion guidance.

• Gross revenue less network fees (GRLNF) grew 51% year-over-year to $624 million; organic GRLNF up 11%.

• Adjusted EBITDA rose 39% to $284 million, with a 46% margin.

• Adjusted free cash flow was $21 million, exceeding $10 million guidance.

• Volume processed was $61 billion, up 22% year-over-year.

• Net cash provided by operating activities for the first half of 2026 was $197 million.

• Non-GAAP EPS was $1.32 per share; diluted EPS for Q2 2026 was $0.08.

Outlook and guidance

• Q3 2026 guidance: GRLNF ~$650 million (includes $25 million travel disruption impact), adjusted EBITDA $310 million, adjusted free cash flow $180 million.

• Q4 2026 guidance: GRLNF $661–$711 million, adjusted EBITDA $327–$352 million, adjusted free cash flow $176–$186 million.

• Full-year 2026 guidance: GRLNF $2.48–$2.53 billion (up 25–28% YoY), adjusted EBITDA $1.15–$1.18 billion (up 19–22% YoY), adjusted free cash flow $465–$475 million, non-GAAP EPS $5.15–$5.35.

• FX-neutral GRLNF growth guidance revised to 24–27% YoY.

• Management expects sufficient liquidity to fund operations, capital expenditures, and debt service for at least the next twelve months.

• The pending acquisition is expected to close in the second half of 2026, subject to regulatory approvals.