Shares of digital technology platform provider Toast, Inc. (NYSE:TOST) are in the green today after it came out with a better-than-expected set of first-quarter numbers.
Revenue galloped 53.1% year-over-year to $819 million, outpacing estimates by ~$55.9 million. Additionally, the net loss per share at $0.04 landed narrower than expectations by $0.01.
During the quarter, Toast added 5,500 net new locations, taking the total tally to about 85,000. Further, while annualized recurring run-rate (ARR) rose by 55%, gross payment volume increased by 50% during this period.
Looking ahead, for Q2 2023, revenue is anticipated between $920 million and $950 million. Adjusted EBITDA is expected between flat to -$10 million.
For the full-year 2023, revenue is expected to hover between $3,710 million and $3,800 million (earlier estimate between $3,570 million to $3,660 million). Adjusted EBITDA is anticipated between -$10 million to $10 million (versus earlier outlook between -$30 million to -$10 million).
![](https://blog.tipranks.com/wp-content/uploads/2023/05/TOST1-1024x344.png)
Overall, the Street has a $23.08 consensus price target on Toast pointing to a 14% potential upside in the stock.
Read full Disclosure