Shift4 Payments, Inc. 2026 SIG Annual Virtual Fintech Investor Conference

Thank you for having me.

Yeah, sure. Great question. Thanks again, Jamie, for having us and the team on here. I am coming up on a year in the seat and it is amazing what can happen in a year. I will start by saying that I was very fortunate to have come into a finance organization in a company that had a really solid foundation from which to support this global expansion and this fast growth at Shift4. When I came in, the biggest changes were really just about focusing on the integration work that was in front of us, namely with the acquisition of Global Blue, really at the forefront of this year. Importantly, that is an integration that whether it was across leadership, across people, across systems, across ways of working, there was a lot of already existing commonality.

I think there is a lot to be appreciated about our respective organizations that actually have a lot of cultural similarity. A really important example within some of that change in order to bring all of this together was actually benefiting from some of the really high-quality talent and leadership that came with these companies. Some of which are now key leaders within the finance organization on a global basis. I could not be happier about the ability to bring all of that leadership together into a single operating model, a single structure that, like I said, focuses on really helping Shift4 with the global expansion across all of its different experience economy lines of business. I would say the integration piece is probably one of the biggest things from a change standpoint.

On the priorities front, there are so many, but I will say I will try to keep it to the audience, with the audience in mind. I would say my number one priority for this audience is helping investors understand the business and the financial profile. My background from where I come from, it is one where I am very used to being able to get access to every nook and cranny of information, and that is simply not the reality of the public world. Especially simply because the competition for time and bandwidth in something like an incredibly busy earnings calendar is nearly impossible. We are a dynamic company.

We have bold growth ambitions, a track record of expansion, and it is not lost on me that with that kind of a model comes an ask, a pretty high ask, of information synthesis from investors, who certainly have a lot of competition for their time. It is our job from a priority standpoint, to really help folks acclimate to the model, to the financial profile, especially in a year like where we are integrating our TFS business, and it has its impacts on the financial profile change. It is our job to really help people try to synthesize that. It has been great to get positive feedback that we are making good progress on that front, with some net new disclosures, some approaches to how to building block up the growth algorithm.

I totally appreciate there is still so much to do, and I really do welcome the investor engagement around it and appreciate the advice that we are getting through it. Those are probably the most appropriate of my priorities as it relates to this audience.

Sure. Q2 was a record quarter. We delivered a record Q2. We delivered results ahead of guidance across the board, like a 51% year-over-year growth in our gross revenue less network fees or GRLNF. 39% year-over-year growth in adjusted EBITDA, and delivered on $21 million of adjusted free cash flow against $10 million guide. We view it as a really important kind of demonstration of resilience. When you look at it through the lens of the building blocks, the growth algorithm that we introduced at the beginning of the year, we are also really proud of how that is tracking through to the year-to-date results. We have pretty much the five categories almost, like the payments-based revenue Americas worldwide, TFS sub and other. Effectively, everything is either intact or ahead. Payments-based revenue, for example, that is our North Star of growth.

In the Americas region, we saw a 19% year-to-date growth. In the worldwide region, it is growing more than 50%. Keep in mind that is against a growth algorithm variable that we believe high 20s. We are probably exceeding that in the total for the year. I do think that that is an important distinction that 50% is not what we expect for the full year. The tax-free shopping business, to your point, is growing right in line with the growth algorithm despite the fact that it has been impacted by this Middle East travel disruption and the conflict. I do want to take a moment to remind people, though, in the growth algorithm for tax-free shopping, we started the year acknowledging that this was year one. This is the first year you own a business.