Welcome to our dedicated page for Toast news (Ticker: TOST), a resource for investors and traders seeking the latest updates and insights on Toast stock.
Toast, Inc. (symbol: TOST) is a pioneering company providing an all-in-one point-of-sale (POS) and restaurant management platform. As a cloud-based system crafted specifically for the restaurant industry, Toast delivers an advanced set of functionalities designed to streamline operations and enhance efficiency. Key features include tableside ordering, quick menu modifications, real-time enterprise reporting, online ordering, and labor management, all accessible through an easy-to-use interface.
Established in the United States, Toast serves over 112,000 restaurant locations as of March 2024. The company's business model revolves around generating revenue through software subscription fees, a percentage take rate from each financial transaction processed, loan origination and servicing fees via Toast Capital, and hardware installation and professional services. Unlike many competitors, Toast intermediates every payment transaction on its platform, which amounted to an impressive $126 billion in gross platform volume in 2023.
Toast's product offerings are comprehensive, covering POS systems, inventory and payroll management, delivery integration, e-commerce ordering, reservation management, and loyalty programs. This diverse range of services positions Toast as a critical partner for restaurant operators looking to optimize their business processes and improve customer experiences.
Recent achievements for Toast include significant growth in user adoption, continuous enhancement of their platform capabilities, and strategic partnerships that expand their ecosystem. Toast Capital, the financial services arm of the company, also provides tailored loan products to help restaurants manage cash flow and invest in growth opportunities.
If you’re passionate about transforming the restaurant industry, Toast offers exciting career opportunities. The company prides itself on a fast-paced, hardworking culture that also values having fun and caring deeply about customer success. Join Toast and be part of a team that’s making a real difference in the lives of restaurant operators and their patrons.
Mavely announced the addition of two new executives, Usaid Khan and Kevin White, to its leadership team, aiming to accelerate growth and innovation in the influencer marketing space.
Usaid Khan, who will serve as Vice President of Business Development, brings experience from Thrasio and Amazon, where he led strategic partnerships and helped develop Amazon's live stream shopping program.
Kevin White, appointed as Vice President of Strategic Finance, joins from Toast (NYSE:TOST), where he was instrumental in building the Strategic Finance function. White will oversee budgeting, forecasting, corporate development, and long-term strategy at Mavely.
Toast's Q1 2024 Restaurant Trends Report reveals key insights into U.S. restaurant industry trends, focusing on coffee and tea pricing, breakfast transactions, and restaurant employee wages. Average prices in Q1 2024 show $3.08 for regular coffee, $5.14 for cold brew, $5.46 for lattes, and $3.74 for tea. Tea outperformed regular coffee in 30 states. Saturday breakfast transactions rose 6% YoY, while Monday transactions fell 4% YoY. Median hourly wages for servers and bartenders increased to $9.48 in Chicago and $8 in Washington, D.C. Delaware led in tipping generosity at 22.1%. Prices were highest in Hawaii and California, with Hawaii averaging $4.89 for regular coffee. The report is based on data from 112,000 restaurant locations on the Toast platform.
Toast reported strong first quarter 2024 financial results, with 6,000 new locations added, ARR growing 32% to $1.3 billion, and net loss at $(83) million. The company's CEO highlighted top-line growth and margin expansion, positioning Toast for durable growth and margin expansion.
Toast (NYSE: TOST) has launched Digital Storefront and Marketing Suites to enhance restaurants' online presence and guest engagement. The Digital Storefront Suite offers website and online ordering capabilities, while the Marketing Suite provides tools for automated marketing campaigns. These suites enable restaurants to gather guest data, create targeted campaigns, and offer customized guest experiences. The press release highlights how these innovations aim to attract and retain guests through online engagement.
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