Shift4 Payments, Inc. (NYSE:FOUR) Q4 2022 Earnings Conference Call February 28, 2023 8:30 AM ET

Company Participants

Tom McCrohan - IR

Jared Isaacman - CEO

Taylor Lauber - President and CSO

Nancy Disman - CFO

Conference Call Participants

Dan Perlin - RBC

Timothy Chiodo - Credit Suisse

William Nance - Goldman Sachs

Darrin Peller - Wolfe Research

Andrew Bauch - SMBC Nikko

Anthony Cyganovich - UBS

Operator

Hello and welcome to the Shift4 Fourth Quarter and Full Year 2020 Earnings Conference Call. My name is Lauren, and I will be coordinating your call today. There will be an opportunity for questions at the end of the presentation. [Operator Instructions] Please note that this call along with the Q&A will be for a duration of 60 minutes.

I will now hand you over to your host, Tom McCrohan, Head of Investor Relations to begin. Tom, please go ahead.

Tom McCrohan

Thank you, operator and good morning everyone, and welcome to Shift4's fourth quarter earnings conference call. With me on the call today are Jared Isaacman, Shift4's Chief Executive Officer, Taylor Lauber, our President and Chief Strategy Officer; and Nancy Disman, our Chief Financial Officer.

This call is being webcast on the Investor Relations section of our website, which can be found at investors.shift4.com. Our quarterly shareholder letter, quarterly financial results, and other materials related to our quarterly results have all been posted to our IR website.

Our call and earnings materials today include forward-looking statements. These statements are not guarantees of future performance and our actual results could differ materially as a result of many important factors.

Additional information concerning those factors is available in our most recent reports on Forms 10-K and 10-Q, which you can find on the SEC's website and the Investor Relations section of our corporate website.

For any non-GAAP financial information discussed on this call, the related GAAP measures and reconciliations are available in today's quarterly shareholder letter.

With that, let me turn the call over to Jared. Jared?

Jared Isaacman

Thank you, Tom. Good morning everyone. We are very pleased with the record results we delivered this year in the face of ongoing economic uncertainty. We ended full year 2022 with record levels of volume, gross revenue, gross revenue less network fees, adjusted EBITDA, and adjusted free cash flow all in excess of our midterm outlook.

Our 2022 results were predominantly driven through organic initiatives, including the release of new products and well-timed to entry into new verticals. Our high-growth core, which represented the totality of our business at the time of our 2020 IPO was still the primary driver of our growth last year with an ever increasing contribution from our new verticals. Shift4 continues to lift the intersection of payments and commerce enabling software, and we are well on our way to delivering that capability globally.