The strong growth and high margins suggest successful integration of Global Blue. The 2026 guidance indicates sustained momentum, making this a potential buying opportunity for investors seeking exposure to payment processing growth in luxury retail and international markets.
Price Chart
Executive Summary
Shift4 Payments reported strong Q4 2025 results with 51% year-over-year growth in gross revenue less network fees and 58% growth in gross profit, driven by the acquisition of Global Blue. The company introduced 2026 guidance calling for 26-31% growth in gross revenue less network fees and highlighted a 50% adjusted EBITDA margin, indicating strong profitability and operational efficiency.
Key Financial Metrics
Key Facts
- Q4 2025 gross revenue less network fees grew 51% YoY to $610 million
- Gross profit increased 58% YoY to $429 million
- Adjusted EBITDA grew 48% YoY to $304 million with a 50% margin
- 2026 guidance calls for 26-31% growth in gross revenue less network fees
- Volume grew 23% YoY to $59 billion in Q4 2025
- Non-GAAP EPS was $1.60, up from $1.44 in Q4 2024
Financial Impact
Revenue growth of $302 million (51%) and gross profit growth of $158 million (58%) in Q4 2025
Segment Breakdown
| Segment | Revenue |
|---|---|
| Payments-Based Revenue Less Network Fees | $340.0M |
| Tax-Free Shopping | $125.0M |
| Subscription and Other | $145.0M |
Risk Factors
- Integration risks from the Global Blue acquisition
- Potential margin pressure as Global Blue is currently dilutive to EBITDA margins
- Execution risk in realizing projected revenue synergies
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001794669-26-000006 |
| Document: four-20260226.htm | 0001794669-26-000006 |
| Document: 0001794669-26-000006-index-headers.html | 0001794669-26-000006 |
| Document: 0001794669-26-000006-index.html | 0001794669-26-000006 |
| Document: 0001794669-26-000006.txt | 0001794669-26-000006 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 6, 2026 8w ago | 8-K | $43.36 $44.19 | ▲ +1.91% | ▲ +1.31% | $35.95 (−17.09%) |
Jul 13, 2026 11w ago | 8-K | $49.23 $43.16 | ▼ −12.33% | ▼ −15.51% | $35.95 (−26.98%) |
Feb 26, 2026 31w ago | 8-K | $48.41 $48.41 | · 0.00% | ▲ +6.40% | $35.95 (−25.74%) |
US Market Status
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