Shift4 Payments, Inc. Q2 FY26 Results

The second quarter of 2026 reinforced three themes: the durability of our growth, the global appetite for our products, and the strength of our position at the center of the experience economy. Each of these themes showed up clearly in our results, and should give conviction as to the plan we’ve been executing successfully against. Shift4 was center stage during the quarter as over a million fans visited the U.S. for the World Cup and experienced our technology at thousands of restaurants, hotels and every match venue in the U.S. and Canada. High volume and most importantly, in-person, payments demand innovative and resilient technology and expertise across myriad operating models. I’m proud to say that both our products and team executed flawlessly. In addition, our international expansion continues to scale nicely, even against the backdrop of ongoing Middle East-related travel disruptions. We are having tangible success expanding our Shift4 One product into more markets across Europe and remain on track to be live in a total of 15 countries by the end of this year, with 12 countries live today. As a reminder, Shift4 One allows retailers to consolidate payments, tax-free shopping, and dynamic currency conversion capabilities within a single device. This takes what would otherwise be a complex process spanning multiple vendors and lots of human intervention and simplifies it into a simple hand- held device where we can deliver the entire value chain to both our customer and the consumer. And in what is truly the Shift4 way, we also launched Shift4 Dine in Spain and Australia. We are often asked about why a merchant chooses Shift4 and the answer is how we deliver in the moments that matter. The businesses we serve span many verticals but ultimately want their customers to have a great in-person experience. We help them deliver that and have a lot more work to do around the globe. As I noted last quarter, we are not immune to the ongoing conflict in the Middle East, and our thoughts remain with those in harm's way. The conflict continues to have a meaningful negative impact on tax free shopping albeit with slightly more positive performance in Q2 than originally anticipated. We expect that will continue as the conflict persists and are revising our guidance to reflect the likelihood of continued travel disruption in the upcoming third quarter. To that end, we are lowering the midpoint of our full-year 2026 Gross Revenue less Network Fees by ~200bps to reflect approximately $25 million of Middle East influenced travel disruption in the upcoming third quarter and roughly $20 million of FX translation impact. We’ve also included the impact of our recent financings in our free cash flow and earnings per share guidance. This guidance update reflects what I believe is appropriate caution related to the ongoing travel disruption; however, they are also quite temporary in their nature. We remain confident in the long term growth and durability of the Tax Free Shopping business, and excited about the large opportunity in front of us to combine payments and tax free shopping across luxury retail and the broader experience economy.