Toast Inc

TOST

Equity

ISIN US8887871080 / Valor 113470913

New York Stock Exchange, Inc (2024-09-17)

USD 26.75+0.68%

Toast Inc
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About company

Toast Inc is a cloud-based technology platform designed specifically for the restaurant industry, offering a range of software as a service (SaaS) products and financial technology solutions. The platform covers various aspects of restaurant operations, including point of sale, payments, operations, digital ordering and delivery, marketing and loyalty, and team management. Toast serves as a comprehensive restaurant operating system, connecting front of house and back of house operations for dine-in, takeout, delivery, catering, and retail services. The company aims to help restaurants improve efficiency, boost revenue, and enhance guest experiences through its integrated solutions.

Summarized from source with an LLMView SourceSector: Technology

Revenue Growth

Toast Inc. reported a significant increase in its annualized recurring run-rate (ARR) for the second quarter of 2024, reaching $1.5 billion, which represents a 29% growth year over year. This growth highlights the company's expanding customer base and the increasing adoption of its digital technology platform in the restaurant industry.

Net Income

For the second quarter of 2024, Toast Inc. achieved a GAAP net income of $14 million, a substantial improvement compared to a net loss of $(98) million in the same quarter of the previous year. This positive turnaround underscores the company's effective cost management and revenue growth strategies.

Adjusted EBITDA

Toast Inc. reported an Adjusted EBITDA of $92 million for Q2 2024, a significant increase from $15 million in Q2 2023. This improvement in Adjusted EBITDA reflects the company's enhanced operational efficiency and profitability.

Operating Income

In the second quarter of 2024, Toast Inc. achieved a GAAP operating income of $5 million, compared to a GAAP operating loss of $(80) million in Q2 2023. This marks a notable shift towards profitability and indicates the company's successful efforts in optimizing its operations.

Outlook for Q3 2024

Looking ahead, Toast Inc. expects to report non-GAAP subscription services and financial technology solutions gross profit in the range of $345 million to $355 million for the third quarter ending September 30, 2024. Additionally, the company anticipates Adjusted EBITDA to be in the range of $70 million to $80 million, indicating continued growth and financial stability.

Summarized from source with an LLMView Source

Key figures

33.0%1Y

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Performance

51.0%1Y

68.4%3Y

68.4%5Y

Volatility