Shift4 Payments(US:FOUR)2020-11-05 16:50Financial Performance - Gross revenue for Q3 2020 increased by 11% to $214.8 million from $193.8 million in the prior year period[1] - End-to-end payment volume for Q3 2020 was $7.1 billion, a 20% increase compared to $5.9 billion in the prior year period[2] - Gross revenue less network fees increased by 10% to $87.7 million from $79.7 million in the prior year period[2] - Adjusted EBITDA was $28.7 million, up 17% from $24.5 million during the prior year period[2] - Net loss was $9.9 million, compared to a net loss of $22.6 million in the prior year[12] - Adjusted net loss was $2.0 million, compared to a loss of $5.0 million for the prior year period[1] Growth Drivers - End-to-end merchant boards are up 18% year-over-year through Q3[13] - Average annual volume per merchant is up 11% year-over-year[13] Acquisitions and Capitalization - Shift4 acquired 3dcart, an ecommerce platform serving over 14,000 businesses[15] - The company completed a follow-on offering in September 2020, receiving net proceeds of $91.8 million[25] - Shift4 issued $450.0 million aggregate principal amount of 4.625% Senior Notes due 2026 on October 29, 2020[25]