Toast, Inc. (NYSE:TOST) released its first-quarter results after Thursday's closing bell. Here's a look at the details in the report.
The Details: Toast reported quarterly earnings of nine cents per share, which missed the Street estimate of 12 cents. Quarterly revenue came in at $1.34 billion, in line with the consensus estimate.
The company also announced an agreement with Topgolf to implement Toast Enterprise Solutions across its venues in the U.S.
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For the first quarter, Toast reported:
- ARR as of March 31, 2025, was $1.7 billion, up 31% year-over-year.
- Total Locations increased 25% year-over-year to approximately 140,000.
- Gross Payment Volume (GPV) increased 22% year-over-year to $42.2 billion.
- Non-GAAP subscription services and financial technology solutions gross profit grew 37% year-over-year to $415 million.
“Toast kicked off the year with a fantastic first quarter -- we added over 6,000 net new locations, grew our recurring gross profit streams 37%, and delivered $133 million in Adjusted EBITDA,” said Toast CEO Aman Narang.
“We continue to see strong momentum across both our core business as well as our new verticals in international, retail, and enterprise including marquee wins in Applebee’s and Topgolf. We are starting to see our scale and data across our 140,000 locations help our customers be more successful, which sets us up well as we continue to build out the platform and scale globally,” Narang added.
TOST Price Action: According to data from Benzinga Pro, Toast stock was up 8.43% at $39.74 after-hours Thursday.
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