Shift4 Payments says short report ‘got it wrong’ in ‘many plain, obvious ways’

In a letter to shareholders that was emailed to The Fly as well, Shift4 Payments CEO Jared Isaacman said in part, "As some of you may have seen, we were the subject of a short seller’s report yesterday… We knew long before our first day at the New York Stock Exchange that operating a public company attracts critics, both fairly and unfairly. I don’t fault these cynics for trying to do their job, but they’ve got it wrong on FOUR and in many plain and obvious ways. As just a few examples: – I only purchased shares in 2022 and never sold stock on the market as it was implied. My share count diminished in 2022 as a result of stock donations to St. Jude Children’s Research Hospital. – I have never received a margin call, even when the share price was at its lowest last summer. In fact, I refinanced and reduced the size of my margin loan in December of 2022, well above the 52-week lows. – As discussed at length, insourcing distribution was a fantastic way to improve the customer experience, margins, free cash flow and the unit economic model of our new SkyTab POS product… I am and will continue to be the largest shareholder for the foreseeable future – and simply because I believe in our ability to keep winning. For more than two decades, our growth and audited financial results, including our free cash flow generation, speak for themselves. We plan to have a detailed discussion of our Q1 operating results and financial performance in two weeks. For those betting against us, keep in mind May 4th is just around the corner."