We hosted an investor call today with Shift4’s D. Taylor Lauber (President) and Thomas McCrohan (EVP of IR). They’ve got a lot going on, and we’d like to thank them for giving us their time today.
To say that this is a growing space would be an understatement. When FOUR went public in 2020 their Total Addressable Market (TAM) was $1T. That’s a great market to be in… especially when the market grows to $14T, which is what it is now.
FOUR’s Verticals:
- Restaurants: Point of Sale systems, streamlined operations, mobile optimization, improved guest experience, kitchen efficiency – they do a lot
- Hospitality: Simplifies complexity across multiple revenue centers
- Sports & Entertainment: Single payment solution for entire experience. Taylor noted they had zero stadiums when they IPO’d and now they’re in roughly 75% of professional stadiums
- Unified Commerce: Global Reach – their presence is growing rapidly
While the company is experiencing a tremendous amount of organic growth, they’re busy on the acquisition front, too. They just announced their largest one yet, a $2.5B cash deal for Global Blue. Their footprint is getting even bigger…
FOUR’s current CEO (and Founder), Jared Isaacman, will be leaving the company for a few years to be the Head of NASA – National Aeronautics and Space Administration (WOW!). Mr. Isaacman is the largest shareholder (by a lot) and said he won’t sell a single share in his absence, which speaks volumes of his confidence in Taylor to run the company.
I can tell you this – after hosting this call and listening to Taylor speak on a couple of other occasions, Jared’s company appears to be in very good hands. Taylor has a tremendous handle on the business and has vision.
