Toast, Inc. (NYSE:TOST) reported its fourth-quarter results after Wednesday's closing bell. Here's a look at the details from the report.
The Details: Toast reported quarterly earnings of 5 cents per share which missed the analyst consensus estimate of 7 cents. Quarterly revenue came in at $1.34 billion which beat the analyst consensus estimate of $1.31 billion and is an increase over revenue of $1.04 billion from the same period last year.
The company said it added 28,000 net locations in 2024, ending the year with approximately 134,000 locations and its annualized recurring run-rate (ARR) increased 34% to over $1.6 billion as of Dec. 31, 2024. Gross Payment Volume (GPV) increased 25% year-over-year to $42.2 billion in the fourth quarter.
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“Toast had a strong close to 2024, capping off a transformational year where we added a record 28,000 net locations, grew our recurring gross profit streams 34%, delivered Adjusted EBITDA of $373 million, and achieved our first year of GAAP profitability,” said Toast CEO Aman Narang.
TOST Price Action: According to data from Benzinga Pro, Toast shares are up 0.15% after hours at $40.05 Wednesday.
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