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Toast Up After Adding a Record Number of New Locations in Q1

By Sam Boughedda AiVIF.com -- Toast Inc (NYSE:TOST), the digital technology platform built for restaurants, gained Friday after the company beat earnings and revenue...
Toast Up After Adding a Record Number of New Locations in Q1 © Reuters

By Sam Boughedda

AiVIF.com -- Toast Inc (NYSE:TOST), the digital technology platform built for restaurants, gained Friday after the company beat earnings and revenue estimates when it reported its first-quarter results aftermarket Thursday.

The company said it added over 5,000 net new locations for the first quarter ever, resulting in total locations increasing nearly 45% year-over-year to around 62,000. Meanwhile, first-quarter subscription revenue growth accelerated to 103% year-over-year. 

Toast posted a loss per share of $0.20 on revenue of $535 million, lower than consensus estimates. Analysts polled by AiVIF.com expected a loss of $0.13 per share on revenue of $487.38 million. Revenue grew 90% year-over-year.

"Toast delivered a strong first quarter, coming in well ahead of expectations across the board and adding a record number of net new locations to our platform as we continue to lead restaurants into a new digital era of hospitality," said Chris Comparato, CEO of Toast. 

For the second quarter, Toast expects to report revenue in the range of $635 million to $665 million, while it raised full-year revenue guidance to between $2.5 billion to $2.55 billion from $2.35 billion to $2.4 billion.

"The restaurant industry is still in the early days of its shift to digital. With our best-in-class technology platform and focus on providing restaurants everything they need to run their business, we believe we’re well positioned to be the restaurant industry’s technology backbone and capitalize on this significant market opportunity," added Comparato.

Toast shares are up 7.1% Friday.

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31-03-2024 10:19:50 (UTC+7)

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    USD/JPY 151.38 ↑ Buy  
    AUD/USD 0.6522 Sell  
    USD/CAD 1.3543 Buy  
    EUR/JPY 163.37 ↑ Sell  
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    Gold 2,254.80 Buy  
    Silver 25.100 ↑ Buy  
    Copper 4.0115 ↑ Buy  
    Crude Oil WTI 83.11 ↑ Buy  
    Brent Oil 86.99 Neutral  
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    US Coffee C 188.53 ↑ Sell  
    Euro Stoxx 50 5,082.85 ↑ Sell  
    S&P 500 5,254.35 ↑ Sell  
    DAX 18,504.51 ↑ Buy  
    FTSE 100 7,952.62 ↑ Sell  
    Hang Seng 16,541.42 Neutral  
    Small Cap 2000 2,120.15 Neutral  
    IBEX 35 11,074.60 ↑ Sell  
    BASF 52.930 ↑ Buy  
    Bayer 28.43 Buy  
    Allianz 277.80 ↑ Buy  
    Adidas 207.00 ↑ Buy  
    Lufthansa 7.281 ↑ Sell  
    Siemens AG 176.96 ↑ Buy  
    Deutsche Bank AG 14.582 ↑ Buy  
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# So hôm qua # Chênh TG
SJC Eximbank7,910/ 8,080
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SJC Hanoi7,830/ 8,082
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SJC Danang7,830/ 8,082
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SJC Nhatrang7,830/ 8,082
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