财务表现 - 截至2024年6月30日,Toast平台上约有12万家餐厅位置,同比增长29%,过去12个月处理了约1,430亿美元的总支付量[96] - 2024年第二季度和上半年,Toast的订阅服务收入分别同比增长37%和40%,主要归因于餐厅位置的增长和产品采用率的持续提升[108] - 2024年第二季度和上半年,Toast的金融科技解决方案收入分别同比增长27%和28%,主要归因于餐厅位置的增加[109] - 2024年第二季度和上半年,Toast的订阅服务成本分别同比增长36%和37%,主要由于员工成本的增加[111] - 2024年第二季度和上半年,Toast的金融科技解决方案成本分别同比增长28%和29%,主要由于总支付量的增加[112] - 订阅服务和金融科技解决方案毛利率分别为34.4%和34.2%,剔除股份支付和折旧摊销后分别为34.6%和34.4%[135] - 订阅服务收入同比增长37%,金融科技解决方案收入同比增长26%[134] 盈利能力 - 利息收入净额增加11%和18%,分别是由于金融工具产生的利息收入增加[123] - 认股权证负债公允价值变动分别下降96%和61%,主要是由于期末相关普通股价值上升[126] - 调整后EBITDA分别为9200万美元和1.48亿美元,主要受益于净亏损的减少和非现金调整项的增加[131] 现金流与流动性 - 经营活动产生的现金流为1.04亿美元,自由现金流为7500万美元,主要受益于营运资金的改善[138][142] - 截至2024年6月30日,公司现金及现金等价物和可供出售证券合计12.19亿美元,加上未使用的信用额度,总流动性资金达15.49亿美元[139][140] - 公司预计未来现金流和流动性不会发生重大变化[144] 资本支出与融资 - 资本支出2900万美元,主要用于购置设备和内部软件开发[138] - 公司于2021年签订了一项高级担保信贷融资,并于2023年3月2日对其进行了修订,以将LIBOR替换为SOFR[145] - 截至2024年6月30日和2023年12月31日,2021年融资的总可用资金为3.3亿美元,且未有任何金额被提取或未偿还,此外还有500万美元的未偿还信用证[145] - 公司于2024年2月宣布授权了一项高达2.5亿美元的股票回购计划,截至2024年6月30日已回购100万股A类普通股,总金额为3600万美元[146] 其他 - 重组费用4600万美元,主要包括裁员、股份支付和加速折旧[132] - 截至2024年6月30日,公司的完全摊薄后股数为6.35亿股,包括5.6亿股已发行普通股、3600万份未行权期权、2800万份未归属限制性股票单位、700万份认股权证以及400万股慈善捐赠储备[147][148] - 公司认为现有现金及等价物以及信贷额度足以满足未来12个月的营运资金需求,包括计划的资本支出、战略交易和投资承诺[150] - 公司面临利率和汇率变动等金融市场风险,以及应收账款和贷款服务活动的信用风险,但这些风险自2023年12月31日以来未发生重大变化[151]

财务表现 - 2024年第二季度实现GAAP营业利润500万美元[1] - 2024年第二季度净收入为1400万美元,调整后EBITDA为9200万美元[1] - 2024年第二季度经营活动产生的净现金为1.24亿美元,自由现金流为1.08亿美元[1] - 预计2024年第三季度非GAAP订阅服务和金融科技解决方案毛利润将在3.45亿美元至3.55亿美元之间,同比增长23-27%[6] - 预计2024年全年非GAAP订阅服务和金融科技解决方案毛利润将在13.4亿美元至13.6亿美元之间,同比增长27-29%[7] - 预计2024年全年调整后EBITDA将在2.85亿美元至3.05亿美元之间[7] - 2023年第二季度和2024年上半年,Toast的净亏损分别为9800万美元和6900万美元[22] - 2023年第二季度和2024年上半年,Toast的经调整EBITDA分别为1.24亿美元和1.04亿美元[23][24] - 2023年第二季度和2024年上半年,Toast的非GAAP总毛利分别为1.93亿美元和3.77亿美元[25][26][27] - 2023年第二季度和2024年上半年,Toast的自由现金流分别为1.24亿美元和1.04亿美元[34] - 2024年第二季度调整后EBITDA为9200万美元,2023年同期为1500万美元[45] - 2024年第二季度非GAAP毛利为3.07亿美元,2023年同期为2.25亿美元[49] - 2024年第二季度非GAAP销售和营销费用为9700万美元,2023年同期为8400万美元[54] - 2024年第二季度自由现金流为1.08亿美元,2023年同期为3900万美元[57] 业务增长 - 第二季度新增约8,000个位置[1] - 截至2024年6月30日的年度经常性收入(ARR)同比增长29%至15亿美元[1] - 最近签约了包括Sonny's BBQ、Uno Pizzeria & Grills、Hwy 55和PPX Hospitality Group等大型客户,合计超过200个门店[11] - 2024年第二季度总支付量(GPV)为405亿美元,同比增长26%[42] - 2024年6月30日订阅服务ARR为7.3亿美元,同比增长35%;支付服务ARR为7.43亿美元,同比增长24%;总ARR为14.73亿美元,同比增长29%[44] 公司指标 - Toast的总支付量(GPV)是衡量其平台规模的关键指标,直接影响其财务表现[37] - Toast的年度经常性收入(ARR)是衡量其订阅和支付处理服务规模的关键运营指标[38] - 公司定义ARR(年度经常性收入)为订阅收入的12倍和最近三个月累计支付收入的4倍之和,以反映公司规模并控制短期支付量波动[39] - 公司定义"Live Location"为使用Toast POS系统并达到最低交易量标准的独立门店,包括使用Toast支付服务的门店和不使用的门店[40] 人才发展 - 在第二季度获得了多项优秀雇主奖项[11] 财务状况 - 截至2024年6月30日,Toast的现金及现金等价物为6.91亿美元,较2023年12月31日的6.05亿美元增加了14%[21] - 截至2024年6月30日,Toast的总资产为21.55亿美元,较2023年12月31日的19.58亿美元增加了10%[21] - 2023年第二季度和2024年上半年,Toast的非GAAP销售和营销费用分别为1.02亿美元和2.01亿美元[31] - 2023年第二季度和2024年上半年,Toast的非GAAP研发费用分别为5700万美元和1.13亿美元[32]

Lauri Patterson Introduction & Investment Thesis I had last written about Toast (NYSE:NYSE:TOST) in May, where I held my “buy” rating on the stock after it reported its Q1 FY24 earnings, where revenue and Adjusted EBITDA grew 31% and 435% YoY, respectively. My bullish thesis was predicated on my belief that the company is continuing to scale into new locations while building a strong sales organization to drive a higher number of product modules per customer, enabling it to unlock operating leverage. Si ...

Toast (TOST) is one of the stocks most watched by Zacks.com visitors lately. So, it might be a good idea to review some of the factors that might affect the near-term performance of the stock.Shares of this restaurant software provider have returned +3.4% over the past month versus the Zacks S&P 500 composite's +1.1% change. The Zacks Internet - Software industry, to which Toast belongs, has lost 6.4% over this period. Now the key question is: Where could the stock be headed in the near term?While media rel ...

Toast (TOST) closed the most recent trading day at $26, moving +1.25% from the previous trading session. The stock exceeded the S&P 500, which registered a gain of 0.08% for the day. Elsewhere, the Dow saw a downswing of 0.12%, while the tech-heavy Nasdaq appreciated by 0.07%.The restaurant software provider's stock has dropped by 0.35% in the past month, exceeding the Computer and Technology sector's loss of 4.62% and lagging the S&P 500's loss of 0.21%.The investment community will be closely monitoring t ...

Toast Inc. (TOST, Financial) is a $13 billion market cap payment solutions company that is tailored toward restaurants of any size, with the vast majority of its presence coming from the United States. With more than a billion dollars in annual revenue, Toast also offers software solutions to these restaurants and capital financing via Toast Capital, where clients can obtain loans directly and have accumulated approximately $1 billion in loan originations. This is done at a lower credit risk as Toast Capita ...

Toast's restaurant management software is more popular than ever, but the fast-growing business is still losing money.Shares of Toast (TOST 2.49%) recently got a little bump from a positive analyst note. Dan Dolev at Mizuho upgraded his rating on the stock to outperform and raised his price target to $33 per share.Dolev's new price target implies a 21% gain over the next 12 months if the rest of the stock market begins viewing the restaurant software company in the same light as he does.Is now a good time f ...

It's been rough going for shares of the restaurant software specialist, but the stock is now on the upswing.Do you like to eat out? You might have noticed recently that more and more restaurants have shiny new hardware to take orders and accept payment, whether fast food or sit-down style.What you don't see is what's going on behind the scenes, and how the hardware is connected to software that automates most of a restaurant's operations. Places that use these automated platforms can run more efficiently an ...

This restaurant industry disrupter is serving up tasty growth. Toast (TOST 2.49%) has quickly emerged as a leader in the digital transformation of the restaurant industry. While the stock got off to a sour start following the company's 2021 initial public offering -- declining by more than 75% from its peak -- the latest trends suggest this tech player has finally found a recipe for success. Strong operational momentum and an improving earnings outlook have fueled an impressive 45% stock price rally this ye ...

Toast (TOST) has recently been on Zacks.com's list of the most searched stocks. Therefore, you might want to consider some of the key factors that could influence the stock's performance in the near future.Shares of this restaurant software provider have returned +7.3% over the past month versus the Zacks S&P 500 composite's +4.3% change. The Zacks Internet - Software industry, to which Toast belongs, has gained 0.1% over this period. Now the key question is: Where could the stock be headed in the near term ...