Filing Flows › Shift4 Payments (FOUR) › Q2 2026 › vs Q1 2026
Shift4 Payments (FOUR) Q2 2026 vs Q1 2026 (quarter over quarter)
Shift4 Payments's revenue rose $174M (+16%) from $1.1B in Q1 2026 to $1.3B in Q2 2026. The biggest changes: Payments-based revenue +$156M (+17%); TFS revenue +$15.0M (+15%); Subscription and other revenue +$3.0M (+3%). Operating margin 7.3% against 4.5% (+2.9 pts).
Shift4 Payments, Q2 2026: revenue $1.3B (+34% year over year), operating margin 7.3%, net earnings $22.0M, operating cash flow $63.0M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 7.3% | 4.5% | +2.9 pts |
| Net margin | 1.7% | 1.3% | +0.4 pts |
| Free cash flow margin | 4.4% | 11.4% | -7.0 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Payments-based revenue | $1.1B | $917M | $156M | +17% |
| TFS revenue | $117M | $102M | $15.0M | +15% |
| Subscription and other revenue | $105M | $102M | $3.0M | +3% |
| Revenue | $1.3B | $1.1B | $174M | +16% |
| Operating profit | $95.0M | $50.0M | $45.0M | +90% |
| Costs & expenses | $1.2B | $1.1B | $129M | +12% |
| Pre-tax earnings | $37.0M | −$12.0M | $49.0M | — |
| Other expense, net | $58.0M | $62.0M | −$4.0M | -6% |
| Cost of revenue | $849M | $729M | $120M | +16% |
| Sales & marketing | $11.0M | $11.0M | $0 | 0% |
| General & admin | $231M | $216M | $15.0M | +7% |
| Other operating costs | $109M | $115M | −$6.0M | -5% |
| Net earnings | $22.0M | $15.0M | $7.0M | +47% |
| Minority interests | $2.0M | −$3.0M | $5.0M | — |
| Income tax | $13.0M | −$24.0M | $37.0M | — |
| Operating cash sources | $192M | $166M | $26.0M | +16% |
| Depreciation & amortization | $139M | $135M | $4.0M | +3% |
| Share-based compensation | $31.0M | $16.0M | $15.0M | +94% |
| Working capital & other | $129M | $32.0M | $97.0M | +303% |
| Operating cash flow | $63.0M | $134M | −$71.0M | -53% |
| Free cash flow (OCF − capex) | $57.0M | $128M | −$71.0M | -55% |
| Capital expenditures | $6.0M | $6.0M | $0 | 0% |
Questions
How much did Shift4 Payments's revenue grow quarter over quarter in Q2 2026?
Shift4 Payments's revenue rose $174M (+16%) from $1.1B in Q1 2026 to $1.3B in Q2 2026.
What drove Shift4 Payments's revenue change in Q2 2026?
Payments-based revenue +$156M (+17%); TFS revenue +$15.0M (+15%); Subscription and other revenue +$3.0M (+3%).