Business Model EfficiencyRapid market share gains are supported by Toast replicating its efficient go-to-market strategy in more regions within the US, as well as expanding into international markets and various segments of the restaurant and retail landscape.
Financial PerformanceTOST delivered 2Q24 results ahead of expectations with non-GAAP recurring gross profit growth of ~29% Y/Y and adj. EBITDA of ~$92m.
Market Share And GrowthToast added a record +8,000 net new locations in a seasonally strong Q2, increasing the total location count to 120K, up 29% year-over-year and now accounting for ~14% of the U.S. TAM.