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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Gross revenue $ 966.2 $ 827.0 $ 1,814.5 $ 1,534.4
Cost of sales (exclusive of certain depreciation and amortization expense shown separately below) (673.7) (595.2) (1,265.0) (1,114.8)
General and administrative expenses (130.4) (110.1) (284.4) (217.2)
Revaluation of contingent liabilities 0.9 (0.3) 4.6 (2.4)
Depreciation and amortization expense [1] (57.6) (46.7) (113.6) (91.5)
Professional expenses (15.2) (11.6) (33.8) (19.6)
Advertising and marketing expenses (7.1) (3.9) (13.8) (8.3)
Income from operations 83.1 59.2 108.5 80.6
Loss on extinguishment of debt (3.1) 0.0 (3.1) 0.0
Interest income 19.2 5.0 31.6 10.4
Other income (expense), net (3.0) 0.4 (4.2) 1.8
Gain (loss) on investments in securities (0.3) (0.2) 0.0 10.8
Change in TRA liability (0.8) (3.6) 2.2 (4.8)
Interest expense (39.4) (8.1) (67.9) (16.2)
Income before income taxes 55.7 52.7 67.1 82.6
Income tax benefit (expense) (14.6) 1.8 (6.5) 0.4
Net income 41.1 54.5 60.6 83.0
Less: Net income attributable to noncontrolling interests (7.1) (15.3) (9.9) (23.2)
Net income attributable to Shift4 Payments, Inc. 34.0 39.2 50.7 59.8
Less: Preferred stock dividend (9.5) 0.0 (9.5) 0.0
Net income attributable to common stockholders $ 24.5 $ 39.2 $ 41.2 $ 59.8
Class A common stock        
Basic net income per share        
Net income per share - basic (in dollars per share) $ 0.35 $ 0.59 $ 0.59 $ 0.90
Weighted average shares Preferred stock outstanding - basic (in shares) 66,456,102 64,438,168 67,074,718 64,441,324
Diluted net income per share        
Net income per share - diluted (in dollars per share) $ 0.32 $ 0.58 $ 0.52 $ 0.89
Weighted average common stock outstanding - diluted (in shares) 87,917,559 65,564,817 89,453,179 65,763,523
Class C common stock        
Basic net income per share        
Net income per share - basic (in dollars per share) $ 0.35 $ 0.59 $ 0.59 $ 0.90
Weighted average shares Preferred stock outstanding - basic (in shares) 1,345,698 1,689,805 1,398,681 1,692,360
Diluted net income per share        
Net income per share - diluted (in dollars per share) $ 0.32 $ 0.58 $ 0.52 $ 0.89
Weighted average common stock outstanding - diluted (in shares) 1,345,698 1,689,805 1,398,681 1,692,360
[1] Depreciation and amortization expense includes depreciation of equipment under lease of $17.4 million and $33.7 million for the three and six months ended June 30, 2025, respectively, and $13.0 million and $24.9 million for the three and six months ended June 30, 2024, respectively.