Shift4 Payments (FOUR) Operating Expenses (2019 - 2026)
Shift4 Payments (FOUR) reported Operating Expenses of $262 million for Q2 2026, up 73.5% from $151 million a year earlier and up 6.9% from the prior quarter.
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Analysis
Shift4 Payments (FOUR) Operating Expenses (2019 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Shift4 Payments' Operating Expenses came in at $956.5 million, up 59.3% year-over-year; for FY2025, it came in at $774 million, up 47.4% from FY2024.
- Operating Expenses has increased for three consecutive years, with a five-year compound annual growth rate of 26.9% (FY2020 to FY2025).
- By year, Operating Expenses came in at $525 million in FY2024 (+41.1%), $372 million in FY2023 (+23.6%), $301 million in FY2022 (-8.1%) and $327.6 million in FY2021 (+39.2%).
- The Q2 2026 figure ranks as the highest quarterly Operating Expenses in data going back to Q1 2019.
- Year over year, Operating Expenses has now increased in each of the last ten quarters, with growth averaging 50.1% over the last eight quarters.
- The high point for year-over-year Operating Expenses in five years was Q2 2026 (growth of 73.5%); the low point was Q1 2023 (a decline of 2.0%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $245 million (Q1 2026), $236.6 million (Q4 2025) and $212.9 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Coinbase Global | 50.59 Bn | 7.40 Bn | - | 1.33 Bn |
| 2 | PayPal Holdings | 46.79 Bn | 5.01 Bn | - | 7.26 Bn |
| 3 | Block | 44.05 Bn | 15.31 Bn | 3.17 Bn | 2.72 Bn |
| 4 | Iren | 31.74 Bn | 19.34 Bn | 103.89 Mn | 128.25 Mn |
| 5 | Corpay | 26.01 Bn | 16.21 Bn | - | 260.40 Mn |
| 6 | Fiserv | 24.47 Bn | 21.17 Bn | 2.90 Bn | 4.28 Bn |
| 7 | Global Payments | 22.51 Bn | 952.73 Mn | 2.03 Bn | 2.98 Bn |
| 8 | Bitmine Immersion Technologies | 15.56 Bn | 12.94 Bn | 40.81 Mn | 52.67 Mn |
| 9 | Guidewire Software | 11.90 Bn | 8.47 Bn | 269.68 Mn | 207.36 Mn |
| 10 | Shift4 Payments | 5.76 Bn | 2.57 Bn | 446.00 Mn | 262.00 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 262.00 Mn |
| Mar 31, 2026 | 245.00 Mn |
| Dec 31, 2025 | 236.60 Mn |
| Sep 30, 2025 | 212.90 Mn |
| Jun 30, 2025 | 151.00 Mn |
| Mar 31, 2025 | 172.00 Mn |
| Dec 31, 2024 | 142.00 Mn |
| Sep 30, 2024 | 135.60 Mn |
| Jun 30, 2024 | 125.90 Mn |
| Mar 31, 2024 | 121.50 Mn |
| Dec 31, 2023 | 97.70 Mn |
| Sep 30, 2023 | 87.90 Mn |
| Jun 30, 2023 | 100.20 Mn |
| Mar 31, 2023 | 94.40 Mn |
| Dec 31, 2022 | 98.40 Mn |
| Sep 30, 2022 | 75.60 Mn |
| Jun 30, 2022 | 82.90 Mn |
| Mar 31, 2022 | 96.30 Mn |
| Dec 31, 2021 | 89.10 Mn |
| Sep 30, 2021 | 70.00 Mn |
API Access
Shift4 Payments Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=FOUR&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "FOUR", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=FOUR&period=max&api_key=YOUR_API_KEY");
const data = await res.json();