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.
Toast (NYSE: TOST), a leading digital technology platform for restaurants, will present at two upcoming investor conferences. The first is the J.P. Morgan 50th Annual Global Technology, Media and Communications Conference on May 24, 2022, at 10:50 am ET in Boston, MA. The second is the William Blair Growth Stock Conference on June 8, 2022, at 12:40 pm CT in Chicago, IL. Webcasts of these presentations will be available on Toast's Investor Relations website. For further details about the company and its SaaS products, visit www.toasttab.com.
Toast (NYSE: TOST) has renewed its strategic partnership with US Foods (NYSE: USFD), enhancing their commitment to the restaurant industry. This partnership focuses on providing technology solutions to restaurant owners, aimed at saving time, boosting revenue, and improving customer experience. Toast's Chairman and CEO, Chris Comparato, emphasized the alignment of both companies in their mission to support restaurants. US Foods praised Toast for its innovative solutions crucial for their CHECK Business Tools program, which serves around 250,000 clients across the US.
Toast (NYSE: TOST) reported a strong first quarter for 2022, achieving 103% year-over-year growth in subscription revenue and adding over 5,000 net new locations, bringing total locations to approximately 62,000.
Revenue surged 90% year-over-year to $535 million, while Annualized Recurring Run-Rate (ARR) grew 66% to $637 million. Gross Payment Volume (GPV) increased by 98% to $17.8 billion, and net loss decreased to $23 million from $99 million year-over-year. The company anticipates revenue of $635 million to $665 million for Q2 2022.
Toast (NYSE: TOST) announced the launch of Toast for Hotel Restaurants, a digital solution tailored for hotel restaurant operators aimed at enhancing productivity and guest experience. This system integrates seamlessly with major hotel property management systems, streamlining operations and improving revenue potential. Key features include easy room charge processing, enhanced order accuracy, and reduced wait times. The integration is available for $75 per month and aims to offer a unified guest experience across dining areas.
Toast (NYSE: TOST) will release its financial results for the first quarter ending March 31, 2022, on Thursday, May 12, 2022, after U.S. markets close. A conference call will be held at 5:00 p.m. Eastern Time the same day to discuss the results. Investors can access the news release and call link via the Toast investor relations website. Toast offers a comprehensive cloud-based platform designed specifically for restaurants, providing software and financial solutions for operations, digital ordering, and team management.
Toast, the all-in-one digital platform for restaurants, launched Toast for Quick Service, a tailored solution for quick-service restaurants (QSRs). This platform aims to enhance sales and guest experience by employing advanced digital tools and payment workflows. Notably, QSRs using Toast saw digital sales growth of nearly 80% and throughput increase by over 20%. The solution includes features such as Toast Mobile Order & Pay, kiosks, and performance insights to streamline operations and adapt to industry challenges.
eCard Systems has expanded its partnership with Toast, enhancing services for restaurants with 2 to 25 locations, primarily in gift card transaction processing and program management. Since their initial collaboration in 2019, they now offer an omnichannel gift card experience including same-day onboarding, transaction reporting, and personalized support. Toast, which combines various management technologies, aims to continue improving customer experiences by collaborating with reliable partners like eCard.
Toast (NYSE: TOST) has appointed Jennifer DiRico as General Manager and Head of International. DiRico has spent six years in leadership roles at Toast, focusing on expanding the company in the U.S. and Europe. Her extensive experience in finance and operations is expected to enhance Toast's ambitions in international markets. CEO Chris Comparato emphasized the opportunity for Toast's platform to serve restaurants globally, while DiRico expressed excitement about applying her expertise to help the company navigate the evolving restaurant landscape.
Toast has released its inaugural Restaurant Trends Report, revealing a 41% year-over-year growth in restaurant sales as of 2021. The report highlights that sales on the Toast platform, which includes about 57,000 locations, have rebounded strongly, with same-store sales rising nearly 6% compared to pre-COVID levels. Notable trends include a 70% increase in on-premise dining and a 59% rise in takeout and delivery sales. Additionally, full-service restaurants outperformed quick-service restaurants, with total sales increasing by 55% year-over-year.
Toast (NYSE: TOST) reported a robust fourth quarter for 2021, with revenue soaring 111% year-over-year to $512 million. The annualized recurring run-rate (ARR) reached $568 million, marking a 74% increase. Gross payment volume (GPV) also surged, hitting $17 billion for the quarter, a 125% increase. However, the net loss for the year deepened to $487 million from $248 million. The outlook for Q1 2022 anticipates revenue between $469 million and $499 million and an adjusted EBITDA loss ranging from $(65) million to $(55) million.
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