NYSE$TOST
Toast Inc. · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Toast delivered record results driven by ARR growth and Adjusted EBITDA profitability.
Toast reported record results in Q2 2023, including exceeding $1B in ARR, achieving Adjusted EBITDA profitability, and positive free cash flow for the first time since its IPO. Revenue grew 45% year-over-year to $978 million.
- ARR reached $1.1 billion, up 45% year-over-year.
- Gross Payment Volume (GPV) increased 38% year-over-year to $32.1 billion.
- Total locations increased over 35% year-over-year to approximately 93,000, with net new locations of over 7,500 in Q2 2023.
- The company achieved positive Adjusted EBITDA for the first time since its IPO.
Headline financials
Revenue & EPS history
Toast · Revenue · Quarterly
$978M
Revenue by segment
Toast · $978M total across 4 segments · Q2 2023
- Financial Technology Solutions$808M+43.8%82.6%
- Subscription Services$121M+59.2%12.4%
- Hardware$41M+36.7%4.2%
- Professional Services$8M+14.3%0.8%
Forward guidance
For the third quarter ending September 30, 2023, Toast expects revenue in the range of $1,010 million to $1,040 million and Adjusted EBITDA in the range of $15 million to $25 million. For the full year ending December 31, 2023, Toast expects revenue in the range of $3,810 million to $3,870 million and Adjusted EBITDA in the range of $15 million to $35 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2023
+0.8%
Avg return
Earnings day
-1.4%
Avg return
5 days after
-2.6%
Avg return
30 days after
57%
13 / 23 earnings
Positive
+18.2%
Q1 2022
Best reaction
-25.0%
Q4 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -14.8% | -24.0% | -16.2% | |
| Q4 2025 | +4.6% | +5.9% | +5.6% | |
| Q3 2025 | +9.5% | +7.1% | +0.1% | |
| Q1 2025 | +11.4% | +23.0% | +20.1% | |
| Q4 2024 | +0.7% | -9.5% | -12.0% | |
| Q3 2024 | +16.6% | +22.7% | +20.8% | |
| Q2 2024 | -5.1% | -1.2% | +0.8% | |
| Q1 2024 | +13.8% | +13.9% | -4.0% | |
| Q4 2023 | +11.3% | +8.1% | +16.9% | |
| Q3 2023 | -12.7% | -17.3% | -11.7% | |
| Q2 2023 | +13.8% | +18.4% | +7.1% | |
| Q1 2023 | +9.1% | +0.7% | +13.3% | |
| Q4 2022 | -25.0% | -24.8% | -34.1% | |
| Q3 2022 | +16.1% | +15.9% | +9.4% | |
| Q2 2021 | +5.6% | +7.4% | +18.1% | |
| Q2 2022 | +6.4% | +11.8% | +16.1% | |
| Q1 2021 | -2.7% | -7.6% | +4.8% | |
| Q1 2022 | +18.2% | +6.5% | +18.1% | |
| Q4 2019 | -0.1% | -12.8% | +5.9% | |
| Q4 2021 | -16.2% | -23.9% | -31.0% | |
| Q3 2021 | -14.3% | -17.5% | -36.3% | |
| Q3 2020 | -14.3% | -17.5% | -36.3% | |
| Q4 2020 | -14.3% | -17.5% | -36.3% | |
| Q2 2020 | — | — | — | |
| Q1 2020 | — | — | — |
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