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.
