Toast (TOST -3.49%) is coming off a lackluster year in 2023, where its share price rose by a modest 2%. The shaky ground the economy is on hasn't been doing any favors for the company. But the business itself hasn't been doing badly at all.Restaurants use Toast's point-of-sale (POS) devices to help simplify their operations, and it integrates with other functions as well. It adds a lot of value to the industry, and the number of restaurants using POS devices has been rising. With a potential soft landing fo ...

Toast, Inc. (NYSE:TOST) Q3 2023 Earnings Conference Call November 7, 2023 5:00 PM ET Company Participants Michael Senno - Senior Vice President, Finance Chris Comparato - Chief Executive Officer Aman Narang - Chief Operating Officer Elena Gomez - Chief Financial Officer Conference Call Participants Tim Chiodo - UBS Stephen Sheldon - William Blair Will Nance - Goldman Sachs Tien-Tsin Huang - JPMorgan Jason Kupferberg - Bank of America Josh Baer - Morgan Stanley Dave Koning - Baird Operator Good afternoon. M ...

atoast nn This presentation includes certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding the future results of operations, financial condition, business strategy, plans and objectives of management for future operations of Toast, Inc. ("Toast", "we" or "us"), statements regarding the expectations of demand for Toast's products and growth of its business, our market opportunity and the potential growth of that market, ...

Revenue Growth and Performance - Gross Payment Volume (GPV) for Q3 2023 reached $33.7 billion, a 34% increase compared to $25.2 billion in Q3 2022[92] - Annualized Recurring Run-Rate (ARR) as of September 30, 2023, was $1.218 billion, up 40% from $868 million in the same period last year[92] - Total GPV for the nine months ended September 30, 2023, was $92.5 billion, a 40% increase from $66.3 billion in the same period in 2022[92] - Total revenue for the three months ended September 30, 2023, increased by 37% to $1,032 million compared to $752 million in the same period last year[115] - Subscription services revenue grew by 46% to $131 million for the three months ended September 30, 2023, driven by growth in restaurant locations on the Toast platform[115] - Financial technology solutions revenue increased by 36% to $856 million for the three months ended September 30, 2023, primarily due to growth in restaurant locations on the Toast platform[116] - Hardware revenue rose by 26% to $34 million for the three months ended September 30, 2023, driven by new restaurant locations and higher sales to existing locations[116] Revenue Breakdown by Segment - Subscription services revenue is primarily based on a rate per location, varying by software products, hardware configuration, and employee count[100] - Financial technology solutions revenue includes transaction-based fees and fees from working capital loans through Toast Capital[101] - Hardware revenue is generated from the sale of terminals, tablets, handhelds, and related devices, net of estimated returns[102] - Professional services revenue comes from installation services, including business process mapping, configuration, and training[102] - Financial technology solutions revenue is seasonal, typically stronger in Q2 and Q3 due to higher customer sales during warmer months[97] Expenses and Investments - Research and development expenses focus on platform improvements and new product offerings, driven by employee-related costs and third-party software[108] - Sales and marketing expenses increased by 19% to $100 million for the three months ended September 30, 2023, primarily due to higher employee-related costs[121] - Research and development expenses grew by 18% to $87 million for the three months ended September 30, 2023, mainly due to increased employee-related costs[122] - General and administrative expenses increased by 26% to $98 million for the three months ended September 30, 2023, driven by higher bad debt and credit-related expenses[123] Profitability and Cash Flow - Adjusted EBITDA improved to $35 million for the three months ended September 30, 2023, compared to a loss of $19 million in the same period last year[133] - Free cash flow for the nine months ended September 30, 2023 was $12 million, compared to $(160) million in the same period of 2022[136] - Net cash provided by operating activities for the nine months ended September 30, 2023 was $43 million, compared to $(137) million in the same period of 2022[141] - Net cash used in investing activities for the nine months ended September 30, 2023 was $85 million, compared to $25 million in the same period of 2022[141] - Net cash provided by financing activities for the nine months ended September 30, 2023 was $58 million, compared to $36 million in the same period of 2022[141] - Net increase in cash, cash equivalents and restricted cash for the nine months ended September 30, 2023 was $16 million, compared to $(126) million in the same period of 2022[141] Financial Position and Liquidity - As of September 30, 2023, the company had cash and cash equivalents and marketable securities of $1,030 million, excluding $87 million held on behalf of customers and $49 million in restricted cash[138] - The company has $330 million available under its 2021 Facility as of September 30, 2023[138] - The company believes its existing cash and cash equivalents, along with available borrowing capacity, will be sufficient to meet working capital needs for at least the next 12 months[139] - Cash used in investing activities for the nine months ended September 30, 2023 included purchases of marketable securities, capitalized software, and an acquisition[144] - The company entered into an amendment to its revolving credit facility agreement on March 2, 2023 to replace LIBOR with SOFR[147] Other Financial Metrics - Interest income, net, increased to $10 million for the three months ended September 30, 2023, up from $3 million in the same period last year, due to higher income from marketable securities[125] - The change in fair value of warrant liability resulted in a gain of $18 million for the three months ended September 30, 2023, compared to a loss of $21 million in the same period last year[126] Customer and Market Reach - Toast serves approximately 99,000 restaurant locations as of September 30, 2023, processing $118 billion in GPV over the trailing 12 months[86]

Toast, Inc. (NYSE:TOST) Q2 2023 Earnings Conference Call August 8, 2023 5:00 PM ET Company Participants Chris Comparato - Chief Executive Officer Elena Gomez - Chief Financial Officer Aman Narang - Chief Operating Officer Michael Senno - Senior Vice President of Finance and Strategy Conference Call Participants Tien-tsin Huang - JP Morgan Jason Kupferberg - Bank of America Josh Baer - Morgan Stanley Will Nance - Goldman Sachs Dan Dolev - Mizuho Stephen Sheldon - William Blair Timothy Chiodo - Credit Suisse ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-40819 Toast, Inc. (Exact name of registrant as specified in its charter) Delaware 45-4168768 (I.R.S. Employer I ...

Toast, Inc. (NYSE:TOST) Q1 2023 Earnings Conference Call May 9, 2023 5:00 PM ET Company Participants Michael Senno - SVP, IR Chris Comparato - CEO Elena Gomez - CFO Aman Narang - COO Conference Call Participants Josh Baer - Morgan Stanley Rayna Kumar - UBS Tien-Tsin Huang - JP Morgan Will Nance - Goldman Sachs Tim Chiodo - Credit Suisse Stephen Sheldon - William Blair Jeff Cantwell - Wells Fargo Josh Beck - KeyBanc Dave Koning - Baird Operator Good afternoon. My name is Cole, and I will be your conference o ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-40819 Toast, Inc. (Exact name of registrant as specified in its charter) Indicate by check mark whether the re ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) 401 Park Drive, Suite 801 Boston, Massachusetts 02215 ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-40819 TOAST, INC. (Exact name of registrant as specified in ...

Toast, Inc. (NYSE:TOST) Q4 2022 Earnings Conference Call February 16, 2023 8:30 AM ET Company Participants Michael Senno - VP, Investor Relations and Strategic Finance Elena Gomez - CFO Christopher Comparato - Chairman, CEO & Director Aman Narang - Co-Founder, Co-President, COO & Director Conference Call Participants Dan Dolev - Mizuho Securities Stephen Sheldon - William Blair & Company Timothy Chiodo - Crédit Suisse Joshua Baer - Morgan Stanley Andrew Bauch - SMBC Nikko Rayna Kumar - UBS Tien-Tsin Huang - ...