Toast Inc.
- Toast Inc. plunged 16.5% to $14.39 after the restaurant software developer swung to a quarterly loss.
Revenue in the quarter rose 34% to $1.03 billion from $752 million, net loss shrank to $31 million from $98 million, and diluted loss per share declined to 9 cents from 19 cents a year ago.
Gross payment volume soared 34% to $33.7 billion, and the average revenue run rate in the third quarter was up 40% to $1.218 billion.
However, the stock fell on worries that the macroeconomic headwinds may continue to negatively impact same-store sales and slow gross volume through the platform.
For the full year 2023, Toast expects revenue in the range of $3.83 billion to $3.86 billion, up from the previous range between $3.81 billion and $3.87 billion.
Nov 8, 2023
If you want to see the full data, please log in to your account. Logging in gives you complete access to all available information, features, and detailed insights that are not visible to guest users.