Toast Stock Rallies After Q1 Results, Signs Agreement With Topgolf

Benzinga

Toast reported first-quarter revenue of $1.34 billion, in line with estimates, while earnings of 9 cents per share missed the 12-cent consensus, according to Benzinga. The company highlighted strong momentum with annual recurring revenue up 31% to $1.7 billion and 22% year-over-year growth in gross payment volume. Total Locations increased 25% year-over-year to approximately 140,000. Toast CEO Aman Narang said the company had a strong first quarter, adding over 6,000 new locations, growing recurring gross profit by 37%, and delivering $133 million in adjusted EBITDA. The company also announced an agreement with Topgolf to implement Toast Enterprise Solutions across its venues in the U.S.

Transcript

00:00It's Benzinga bringing Wall Street to Main Street.

00:02Toast reported first quarter revenue of $1.34 billion in line with estimates,

00:06while earnings of $0.09 per share missed the $0.12 consensus, according to Benzinga.

00:11The company highlighted strong momentum with annual recurring revenue of 31% to $1.7 billion

00:16and 22% year-over-year growth in gross payment value.

00:20Total locations increased 25% year-over-year, approximately $140,000.

00:24Toast CEO Aman Narang said the company had a strong first quarter,

00:27adding over 6,000 new locations, growing recurring gross profit by 37%,

00:31delivering $133 million in adjusted EBITDA.

00:34The company also announced an agreement with Topgolf

00:36to implement Toast Enterprise solutions across its venues in the U.S.

00:40For all things money, visit Benzinga.com slash GSTV.

Category

Transcript

Comments

Recommended