Shift4 Payments(US:FOUR)2021-11-17 15:57Q3 2021 Performance Highlights - Shift4 achieved a record quarterly end-to-end payment volume of $13.5 billion, a 90% increase compared to Q3 2020[7, 10] - The company's gross revenue reached $377.8 million, up 76% from Q3 2020, or $400.2 million adjusted for the TSYS outage, representing an 86% increase[10] - Gross revenue less network fees amounted to $148.3 million, a 69% increase compared to Q3 2020[10] - Shift4 reported a net loss of $(13.8) million, or $(0.17) per share, but an adjusted net income of $21.6 million, or $0.26 per share[10] - Adjusted EBITDA for Q3 2021 was $55.8 million, with adjusted EBITDA margins at 38%, nearly 450 basis points higher than Q2 2021[10] 2021 Outlook - Shift4 reaffirmed its end-to-end payment volume guidance of $46 billion to $48 billion[18] - The company maintained its total revenue guidance of $1.3 billion to $1.4 billion[18] - Shift4 increased its gross revenue less network fees guidance to $520 million to $525 million[18] - The company also reaffirmed its adjusted EBITDA guidance of $175 million to $180 million[18] Future Growth and Expansion - Shift4 is targeting approximately $160 billion in end-to-end volume, ~$3.5 billion in gross revenue, and ~$1.15 billion in gross revenue less network fees by the end of 2024[72] - The company anticipates at least 50% CAGR growth in end-to-end payment volume and at least 30% CAGR growth in gross revenues less network fees[72] - Shift4 sees a total addressable market (TAM) of $3.7 trillion globally[79]