v3.24.2.u1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
$ in Millions
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Gross revenue $ 827.0 $ 637.0 $ 1,534.4 $ 1,184.0
Cost of sales (exclusive of certain depreciation and amortization expense shown separately below) (595.2) (470.1) (1,114.8) (871.7)
General and administrative expenses (110.1) (82.1) (217.2) (167.8)
Revaluation of contingent liabilities (0.3) (5.6) (2.4) (12.6)
Depreciation and amortization expense [1] (46.7) (35.9) (91.5) (71.2)
Professional expenses (11.6) (5.4) (19.6) (11.5)
Advertising and marketing expenses (3.9) (4.0) (8.3) (6.5)
Income from operations 59.2 33.9 80.6 42.7
Interest income 5.0 8.8 10.4 16.4
Other income (expense), net 0.4 (0.4) 1.8 (0.3)
Unrealized gain (loss) on investments in securities (0.2) 0.0 10.8 8.9
Change in TRA liability (3.6) (0.8) (4.8) (1.3)
Interest expense (8.1) (8.0) (16.2) (16.1)
Income before income taxes 52.7 33.5 82.6 50.3
Income tax benefit 1.8 3.3 0.4 6.9
Net income 54.5 36.8 83.0 57.2
Less: Net income attributable to noncontrolling interests (15.3) (11.7) (23.2) (17.3)
Net income attributable to Shift4 Payments, Inc. $ 39.2 $ 25.1 $ 59.8 $ 39.9
Class A common stock        
Basic net income per share        
Net income per share - basic (in dollars per share) $ 0.59 $ 0.43 $ 0.90 $ 0.68
Weighted average common stock outstanding - basic (in shares) 64,438,168 56,914,370 64,441,324 56,079,923
Diluted net income per share        
Net income per share - diluted (in dollars per share) $ 0.58 $ 0.42 $ 0.89 $ 0.67
Weighted average common stock outstanding - diluted (in shares) 65,564,817 58,173,624 65,763,523 57,444,069
Class C common stock        
Basic net income per share        
Net income per share - basic (in dollars per share) $ 0.59 $ 0.43 $ 0.90 $ 0.68
Weighted average common stock outstanding - basic (in shares) 1,689,805 2,061,569 1,692,360 2,151,111
Diluted net income per share        
Net income per share - diluted (in dollars per share) $ 0.58 $ 0.42 $ 0.89 $ 0.67
Weighted average common stock outstanding - diluted (in shares) 1,689,805 2,061,569 1,692,360 2,151,111
[1] Depreciation and amortization expense includes depreciation of equipment under lease of $13.0 million and $24.9 million for the three and six months ended June 30, 2024, respectively, and $8.2 million and $15.4 million for the three and six months ended June 30, 2023, respectively.

Source