Restaurant software platform Toast (NYSE:TOST) will be reporting results tomorrow after market close. Here’s what you need to know.

Toast beat analysts’ revenue expectations by 0.8% last quarter, reporting revenues of $1.31 billion, up 26.5% year on year. It was a very strong quarter for the company, with EBITDA guidance for next quarter exceeding analysts’ expectations.

Is Toast a buy or sell going into earnings? Read our full analysis here, it’s free.

This quarter, analysts are expecting Toast’s revenue to grow 27.2% year on year to $1.32 billion, slowing from the 34.7% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $0.17 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Toast has missed Wall Street’s revenue estimates three times over the last two years.

Looking at Toast’s peers in the vertical software segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Agilysys delivered year-on-year revenue growth of 14.9%, missing analysts’ expectations by 5.2%, and Upstart reported revenues up 56.1%, topping estimates by 20.1%. Agilysys traded down 20.1% following the results while Upstart was up 31.8%.

Read our full analysis of Agilysys’s results here and Upstart’s results here.

There has been positive sentiment among investors in the vertical software segment, with share prices up 4.8% on average over the last month. Toast is up 6.4% during the same time and is heading into earnings with an average analyst price target of $40.23 (compared to the current share price of $41.54).

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