Shift4 Payments announced a new partnership with the Cincinnati Bengals to modernize and streamline all food and beverage concession transactions at Paycor Stadium. The company’s integrated commerce platform will power every concession stand, delivering real‑time transaction processing, reduced wait times, and enhanced data collection for the Bengals’ merchandising and marketing teams.
The deal adds a high‑volume venue to Shift4’s sports & entertainment portfolio, reinforcing its position in hospitality and high‑traffic environments and creating cross‑sell opportunities for its broader suite of commerce solutions.
On November 6, 2025 Shift4 reported Q3 2025 earnings. Adjusted earnings per share were $1.47, a $0.01 miss of the $1.48 consensus estimate. The slight miss was driven by modest same‑store sales declines in the restaurant and hotel segments, which were offset by strong growth in new verticals and the Global Blue acquisition.
Revenue rose to $1.18 billion, up 63% year‑over‑year from $909.2 million in Q3 2024 and 22% quarter‑over‑quarter from $966.2 million in Q2 2025. The growth beat consensus estimates of $1.18 billion and was driven by higher payment volumes across all segments, especially in the newly acquired Global Blue business and the expanding sports & entertainment vertical.
Adjusted EBITDA margin expanded to 50% from 33% in Q3 2024, reflecting a higher mix of high‑margin transactions and operational leverage as volume scales, while cost inflation was contained through disciplined spending.
Management reaffirmed full‑year 2025 guidance: volume $207‑210 billion, gross revenue less network fees $1.98‑2.02 billion, and adjusted EBITDA $970‑985 million. The guidance ranges were narrowed due to macro uncertainty, but the company remains confident in continued growth.
CEO Taylor Lauber said the quarter was “in line with our Q3 guidance” and highlighted that “modestly worsening same‑store sales from our restaurant and hotel customers were offset by increased contribution from new verticals and geographies.” He also emphasized the company’s focus on capital allocation, including a new $1 billion stock buyback program.
The Bengals partnership positions Shift4 to capture a new high‑volume venue, providing cross‑sell opportunities for its broader suite of commerce solutions and reinforcing its competitive moat in sports & entertainment.
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