Strong Q1 Performance
Toast added over 6,000 net locations in Q1, with recurring gross profit streams growing 37% year-over-year. Adjusted EBITDA grew to $133 million, and GAAP operating income was $43 million.
Key Enterprise Wins
Toast secured significant enterprise deals, including marquee wins with Applebee's and Topgolf, demonstrating the platform's ability to handle large-scale operations.
International and New Market Growth
Toast is on track to cross 10,000 locations across international, food and beverage retail, and enterprise segments in 2025, with strong momentum in these areas.
AI and Data Advancements
The launch of ToastIQ and ongoing pilots of Sous Chef AI solutions are showing promising early results, with improvements in order volumes and advertising returns for clients.
Increased Full Year Outlook
Toast raised its full-year guidance, expecting 26% growth in fintech and subscription gross profit, and $550 million in adjusted EBITDA with a margin of 31%.