© Reuters. Toast Shares Up 7% on Q1 Earnings Beat and Raise
Toast (TOST) shares rose around 7% after-hours following the company’s reported Q1 results, with revenue of $535 million (up 90% year-over-year) coming in better than the consensus estimate of $490.15 million. EPS came in at ($0.20), compared to the consensus estimate of ($0.13).
Total locations increased to approximately 62,000 (up 45% year-over-year). ARR grew 66% year-over-year to $637 million (as of March 31, 2022), and Gross Payment Volume (GPV) grew 98% year-over-year to $17.8 billion.
The company expects Q2/22 revenue in the range of $635-665 million, compared to the consensus estimate of $570.73 million. For the full 2022-year, the company expects revenue in the range of $2.5-2.55 billion, compared to the consensus estimate of $2.38 billion.
Shares of Toast were down 52% year-to-date into the results.
By Davit Kirakosyan
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