Toast Stock Pops On Q1 Earnings: 'We Are Positioned For Durable Growth And Ongoing Margin Expansion'
Portfolio Pulse from Adam Eckert
Toast Inc (NYSE:TOST) reported Q1 earnings with revenue of $1.075 billion, surpassing estimates of $1.041 billion, but with a loss per share of 15 cents, slightly worse than the expected 14 cents loss. The company saw a 32% growth in annualized recurring run-rate to $1.3 billion and a 30% increase in Gross Payment Volume to $34.7 billion. Over 6,000 new locations were added, bringing the total to approximately 112,000. Toast anticipates Q2 gross profit from subscription services and financial technology solutions to be between $320 million and $330 million, with adjusted EBITDA for Q2 between $55 million and $65 million, and full-year adjusted EBITDA between $250 million and $270 million. Shares rose 4.51% after hours to $24.80.
May 07, 2024 | 8:56 pm
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Toast Inc reported higher than expected Q1 revenue and significant growth in ARR and GPV, with a positive outlook for Q2 and full-year 2024, leading to a 4.51% increase in after-hours trading.
The positive earnings report and optimistic future outlook provided by Toast Inc, including surpassing revenue estimates and demonstrating strong growth in key metrics, have likely contributed to the after-hours stock price increase. The company's expectations for continued growth and margin expansion further support a positive short-term impact on the stock.
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IMPORTANCE 90
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