Gomez plans to remain with the company in an advisory capacity through July 2027. Michael Senno is set to assume the financial chief role on January 1, with the firm confirming the transition stems from no internal disagreements. The leadership change arrives as the business scales, with total locations growing 21% to approximately 189,000.
In section Market Quotes
Toast CFO Departs Amid Revenue Growth and Share Price Slide
Shares of restaurant-payments provider Toast dropped 6% in after-hours trading following the announcement that CFO Elena Gomez will step down on December 31. Despite the leadership transition, the company exceeded Wall Street expectations for the third quarter, reporting a profit of $169 million and a revenue increase to $1.98 billion.
Financial performance remains robust, as the company’s profit rose from $105 million a year ago to reach 29 cents per share, surpassing the 25-cent forecast from FactSet analysts. While revenue climbed 21%, gross payment volume reached $61.8 billion. Although this figure reflects significant expansion, it fell slightly short of the $62.55 billion consensus estimate. Annualized recurring revenue currently stands at $2.5 billion, marking a 24% increase compared to the previous year.
Comments (0)
No comments yet. Be the first!