Its revenue forecast for 2022 was between $2.349 billion and $2.409 billion compared to estimates of $2.28 billion. In Q1 of 2022, Toast forecast sales between $469 million and $499 million above consensus estimates of $463 million. Restaurants of all sizes run their business on Toast and we are committed to being the trusted platform of choice for the restaurant industry.” We had a record quarter and year as a result of strong focus on our customers and consistent execution. Toast’s average recurring revenue or ARR rose 74% to $568 million while it ended Q4 with a gross payments volume of $17 billion, an increase of 125% year over year.Ĭompany CEO Chris Comparato explained, “The restaurant industry was tested again in 2021, but as evidenced by our growth there is tremendous demand for the Toast platform as restaurant operators navigate the new normal. However, its adjusted loss per share stood at $0.23, compared to estimates of a loss of $0.12 per share. In Q4 of 2021, Toast reported revenue of $512 million, compared to estimates of $487.6 million. While still unprofitable, its operating loss accounted for 13.4% of sales, compared to 32% of sales in 2019. Toast increased sales from $665 million in 2019 to $1.7 billion in 2021. The company also offers Toast Flex for on-counter and pay which can be used as a server station, kitchen display system, guest kiosk, or an order fulfillment station. Its hardware product is Toast Point of Sale while Toast Order & Pay allows customers to order and make payments from mobile devices. Valued at a market cap of $10 billion, Toast operates a cloud-based technology platform for the restaurant industry in the U.S. Let’s see if this beaten-down tech stock should be part of your portfolio right now. Toast stock price touched a record high of $69.9 in November before falling to $20 this week. Multiple macro-economic factors such as rising inflation rates, interest rate hikes, supply chain disruptions, the omicron variant and more recently Russia’s invasion of Ukraine have dragged markets lower.įor example, shares of fintech company Toast (NYSE: TOST) went public last September at $40. We have seen several growth stocks lose a significant portion of their market cap in the last few months.
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