![]() On top of that, revenue increased $140 million quarter on quarter, a very strong improvement on the $23 million increase in Q1 2022, and a sign of acceleration of growth, which is very nice to see indeed. Sales GrowthĪs you can see below, Toast's revenue growth has been incredible over the last year, growing from quarterly revenue of $424.7 million, to $675 million.Īnd while we saw even higher rates of growth previously, the revenue growth was still very strong up a rather splendid 58.9% year on year. Restaurants are a prime example where a set of customized software providers have sprung up in recent years to create unique operating systems that blend tax and accounting software, order management and delivery, along with supply chain management. Today, the secular trend of mass customization is driving vertical software that customizes ERP and CRM functions for specific industry requirements. We continue to balance disciplined investments to enhance our platform and drive sustained growth, with a commitment to increasing efficiency, which was evident in our healthy Adjusted EBITDA margin improvement in the second quarter,” said Toast CEO, Chris Comparato.įounded by three MIT engineers at a local Cambridge bar, Toast (NYSE:TOST) provides integrated point of sale (POS) hardware, software, and payments solutions for restaurants.Įnterprise resource planning (ERP) and customer relationship management (CRM) are two of the largest software categories dominated by the likes of Microsoft, Oracle, and. "Toast had another great quarter, sustaining our operating momentum with a record number of net new locations and strong revenue growth, both of which highlight the power of our industry leading digital platform for restaurants. Gross Margin (GAAP): 16.7%, down from 21% same quarter last year.Free cash flow was negative $30 million, compared to negative free cash flow of $50 million in previous quarter.The company lifted revenue guidance for the full year, from $2.52 billion to $2.64 billion at the midpoint, a 4.55% increase.Revenue guidance for Q3 2022 is $715 million at the midpoint, above analyst estimates of $663.2 million.Revenue: $675 million vs analyst estimates of $647.6 million (4.22% beat).
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