By Karen Roman
Shift4 Payments, Inc. (NYSE: FOUR) said third quarter volume was up 11% to $61 billion compared to the year prior, with gross revenue increasing 12% to $1.3 billion and gross profit rising 6% to $434 million.
Net income was $40 million compared to $33 million the year prior, net income per share was $0.37 on a diluted basis, while non-GAAP net income was $132 million, or $1.49 non-GAAP earnings per share, it stated.
EBITDA was up 13% to $261 million and adjusted EBITDA increased 6% to $310 million, the company added. Shift4 also said it signed Kahala Brands, now its single largest restaurant customer, along with Kering, parent company of Gucci, Balenciaga, and Bottega Veneta, and MSG Sphere in the sports and entertainment industry.
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“I believe this quarter and year as a whole will serve as proof points of the durability of our business, our ability to allocate capital for diversified growth, and the power of our products; that are category leaders across multiple attractive verticals and continue to win,” said Taylor Lauber, Shift4 CEO.
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