Diving brief:
- The toast point of sale service provider has been known for a long time to work with restaurants, but is starting to make progress with clients in the entertainment, said a recent call for results.
- In the first quarter, the company signed Topgolf, a driving beaches based in Dallas, said CEO of Toast Aman Narang May 8 call with investors.
- “We speed up the growth of new geographies and new vertical sectors,” he said.
Diving insight:
Toast, which is based in Boston, will specifically provide Topgolf readers of portable point of sale card that employees can bring to customers so that they do not need to leave the practice to pay for food or kitchen drinks and topgolf bars, said Narang.
“Topgolf is a customer who really talks about the versatility” of Toast, said Narang.
The digital processor has also pushed to add places such as bowling alleys, cinemas and arcades, said a toast spokesperson in an email, although the spokesperson did not provide calendar for these signatures or provided specific names.
The passage in entertainment comes as the toast makes a push to attract retailers Like convenience stores, bottle stores and grocery stores.
The outlet company plans to add “10,000 new locations through international food and drinks, retail and businesses in 2025,” said Narang.
The main toast competitors in restaurant space include The FISERV clover, as well as the heavyweight microphones of the industry – which belongs to Oracle – and NCR Voyix.
Analysts were generally optimistic about the Toast campaign to develop in different sectors of the economy.
“Although still at the start of the process of taking the price and diversifying its total addressable market (TAM) within internal, international and retail companies, Toast seems to execute on growth initiatives while sailing in an uncertain macro environment,” wrote Stephens Charles Nabhan analyst in a note of May 9 to investors.
Toast also signed Applebee during the quarter, an agreement that analyst UBS Timothy Chiodo described as the “greatest agreement of the company to date” in a note of May 9 to investors.
Grill said $ 56 million in net profit For the quarter, compared to a loss of $ 83 million in the first quarter of 2024.
The company also said $ 1.34 billion in revenue for the quarter, an increase of 24% compared to the 1.08 billion income that Toast said in the quarter of the previous year.