Shift4 Payments, Inc. (NYSE:FOUR) Q3 2023 Earnings Conference Call November 8, 2023 8:30 AM ET

Company Participants

Tom McCrohan – Senior Vice President-Investor Relations

Jared Isaacman – Chief Executive Officer

Taylor Lauber – President and Chief Strategy Officer

Nancy Disman – Chief Financial Officer

Conference Call Participants

Will Nance – Goldman Sachs

Darrin Peller – Wolfe Research

Timothy Chiodo – UBS

Jason Kupferberg – Bank of America

Jamie Friedman – Susquehanna

Operator

Greetings. Welcome to Shift4 Third Quarter 2023 Earnings Conference. At this time all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] Please note, this conference is being recorded.

I will now turn the conference over to Tom McCrohan, SVP, Investor Relations. Thank you. You may begin.

Tom McCrohan

Thank you, operator. Good morning, everyone, and welcome to Shift4's third quarter 2023 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. Today's call is also being simulcast on X formerly known as Twitter, which can be accessed through our corporate Twitter account @Shift4. 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 certain risks, uncertainties and 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 in 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. I opened my shareholder letter with some thoughts on the conflicts, the suffering and the humanitarian crisis that are taking place around the world. And I would be remiss not to mention again how sad we are at Shift4 for the loss of innocent lives. We're a global company now. And while we are small, we will certainly play our part in trying to make this world a better and healthier place. With that turning to the quarter. It's been busy. So once again, we've delivered reasonably strong quarterly results that represented records across all of our KPIs, including end-to-end volume, gross revenue, gross profit, gross revenue less network fees and adjusted EBITDA. Our margins and cash flow continue to improve as we benefited from spread stabilization and disciplined expense control.