Shift4 Payments Inc
For the period ended Sep 30, 2024. Filed Nov 12, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 12, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations
(Unaudited) (in millions, except share and per share amounts)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Gross revenue | $909.2 | $675.4 | $2,443.6 | $1,859.4 |
| Cost of sales (exclusive of certain depreciation and amortization expense shown separately below) | (641.9) | (495.1) | (1,756.7) | (1,366.8) |
| General and administrative expenses | (118.2) | (76.3) | (335.4) | (244.1) |
| Revaluation of contingent liabilities | (1.5) | (8.9) | (3.9) | (21.5) |
| Depreciation and amortization expense (a) | (51.6) | (40.0) | (143.1) | (111.2) |
| Professional expenses | (9.4) | (5.7) | (29.0) | (17.2) |
| Advertising and marketing expenses | (6.2) | (4.7) | (14.5) | (11.2) |
| Income from operations | 80.4 | 44.7 | 161.0 | 87.4 |
| Interest income | 9.7 | 9.6 | 20.1 | 26.0 |
| Other income (expense), net | (1.5) | — | 0.3 | (0.3) |
| Unrealized gain on investments in securities | 10.8 | 2.6 | 21.6 | 11.5 |
| Change in TRA liability | (289.4) | (1.5) | (294.2) | (2.8) |
| Interest expense | (18.3) | (8.0) | (34.5) | (24.1) |
| Income (loss) before income taxes | (208.3) | 47.4 | (125.7) | 97.7 |
| Income tax benefit (expense) | 280.5 | (0.9) | 280.9 | 6.0 |
| Net income | 72.2 | 46.5 | 155.2 | 103.7 |
| Less: Net income attributable to noncontrolling interests | (18.4) | (13.9) | (41.6) | (31.2) |
| Net income attributable to Shift4 Payments, Inc. | $53.8 | $32.6 | $113.6 | $72.5 |
| Basic net income per share | ||||
| Class A net income per share - basic | $0.78 | $0.56 | $1.68 | $1.24 |
| Class A weighted average common stock outstanding - basic | 66,791,329 | 56,537,008 | 65,230,377 | 56,233,959 |
| Class C net income per share - basic | $0.78 | $0.56 | $1.68 | $1.24 |
| Class C weighted average common stock outstanding - basic | 1,659,314 | 1,759,273 | 1,681,264 | 2,019,063 |
| Diluted net income per share | ||||
| Class A net income per share - diluted | $0.74 | $0.55 | $1.59 | $1.22 |
| Class A weighted average common stock outstanding - diluted | 89,356,938 | 57,673,083 | 89,514,680 | 57,697,393 |
| Class C net income per share - diluted | $0.74 | $0.55 | $1.59 | $1.22 |
| Class C weighted average common stock outstanding - diluted | 1,659,314 | 1,759,273 | 1,681,264 | 2,019,063 |
| See accompanying notes to unaudited condensed consolidated financial statements. | ||||
(a)Depreciation and amortization expense includes depreciation of equipment under lease of $14.1 million and $39.0 million for the three and nine months ended September 30, 2024, respectively, and $9.3 million and $24.7 million for the three and nine months ended September 30, 2023, respectively.
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