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- Dining-payments specialist Toast Inc. reported gross payment volume grew 24% in its September quarter compared to the same period last year, reaching $41.7 billion, while locations using its technology were up 28% to almost 127,000. Revenue for the quarter reached $1.3 billion, up 26%; for the nine months through September, revenue totaled $3.62 billion, rising 28%. Net income for the quarter came to $56 million, reversing a $31-million net loss a year ago, while the company narrowed its nine-month net loss to $13 million from $210 million a year ago.
- Toast rival Olo Inc. reported a 24% rise in its September-quarter revenue, to $71.9 million, while its net loss narrowed to $3.6 million from $11.8 million a year ago. Active locations were up 3,000, to about 85,000, from the end of June.
- Buy now, pay later platform Affirm Inc. reported quarterly revenue of $698.5 million, up 41% from a year ago, narrowing the company’s net loss to $100.2 million from $171.8 million a year ago.
- Merchant sales volume for Affirm rival Sezzle Inc. grew nearly 41% year-over-year to $659.9 million in the company’s third quarter, according to Sezzle’s quarterly report. Revenue for the quarter grew 71%, to just shy of $70 million, while net income increased nearly 12-fold to $15.4 million.
- Cantaloupe Inc., a specialist in processing for vending and other unattended markets, said its September-quarter revenue rose 13% year-over-year to $70.8 million, though equipment sales fell 6.7% to $7 million. Transactions totaled 293.7 million, up 3.6%, while dollar volume rose 14.1% to $826.7 million. Net income nearly doubled, to $3.3 million.
- ACI Worldwide Inc. said its quarterly revenue for software services rose nearly 6%, to $223.4 million. For the first nine months of 2024, software revenue totaled $674.5 million, a 7.7% increase. ACI’s total net income more than doubled for the quarter, to $81.4 million, while for the first nine months it rebounded from a year-ago loss of $1.1 million to a positive $104.6 million.
- Shares in the Netherlands-based global processor Adyen NV dropped more than 6% in early trading following the company’s report of a slowdown in transaction volume growth. The stock had recovered to a 3% drop by early afternoon in Europe. Major Adyen clients include Shopify and Block Inc.’s Cash App.
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