Toast, Inc. Reports First Year of Profitability

Toast, Inc. Class A ( (TOST) ) has released its Q4 earnings. Here is a breakdown of the information Toast, Inc. Class A presented to its investors.

Toast, Inc. is a cloud-based, all-in-one digital technology platform designed for the restaurant industry, offering a comprehensive suite of software as a service (SaaS) products and financial technology solutions. In its latest earnings report, Toast announced a robust performance for the fourth quarter and full year 2024, marked by significant growth and its first year of GAAP profitability. The company added a record 28,000 net locations, ending the year with approximately 134,000 locations, and achieved a 34% increase in its annualized recurring run-rate (ARR) to over $1.6 billion by the end of 2024. Key financial highlights include a fourth-quarter net income of $33 million and an adjusted EBITDA of $111 million, contributing to a full-year net income of $19 million and an adjusted EBITDA of $373 million. The company’s gross payment volume (GPV) rose by 25% year-over-year to $42.2 billion in the fourth quarter, while GAAP gross profit for subscription services and financial technology solutions increased by 40% to $378 million. Moving forward, Toast anticipates continued growth, with plans to expand its market reach and further differentiate its platform across new customer segments, including enterprise, international, and food and beverage retail, aiming for durable growth and strong profitability in the long term.