Shift4 Payments, Inc. (NYSE:FOUR) Q4 2022 Earnings Call Transcript

Taylor Lauber: So, a few things in there. I don’t think like the restaurant, at least if we look at Q4, the restaurant vertical is built felt very normal, right? It typically does moderate off of the summer of Q3. That’s what we saw inside of our restaurant base it did not have any bearing on our ability to add customers. Now, as Jared mentioned earlier, we try to stack the deck in that recur. The entirety of our in-sourcing of distribution was not about gross margin economic expansion. It was also about really attractive customer acquisition costs and all the low-hanging fruit that comes with the project. So, our ability to gain share hopefully, somewhat dislocated for many macroeconomic impact. We like to have a captive base of customers that we can sell into.

It’s what’s driven our success in the past. So, I point that out with regard to the restaurant vertical is something that we’ve said. Now, as we look ahead, I think we’ve been publicly probably too cautious on same-store sales inside of that vertical and the impact it could have. That caution has been represented in kind of everything that we pulled the Street. I think it continues to be, and yet we haven’t seen it yet. So, we’re happy to be proven wrong to the extent there is like more resiliency inside of one of our verticals than we anticipate, but we plan for there being some adverse in almost all of our verticals. It just serves our entire operating model for the business well to be a little bit positive.

Anthony Cyganovich: Thanks for taking the question.

Jared Isaacman: Thank you. We appreciate everyone joining our call this morning and have a good day.

Operator: Thank you. This concludes today’s call. Thank you for joining. You may now disconnect–