Toast reports Q2 EPS (19c), consensus (14c)

Reports Q2 revenue $978M, consensus $942M. “Toast delivered record results in the second quarter. In addition to exceeding $1B in ARR, Toast reached Adjusted EBITDA profitability and positive free cash flow for the first time since IPO as we remain focused on driving lean, durable growth,” said Toast CEO Chris Comparato. “We’re still in the early stages of the opportunity ahead of us, and with proof points including our new Marriott deal and adding a record number of restaurant locations, we are more confident than ever in our ability to penetrate the entire restaurant TAM. Continued product innovation, relentless focus on being a trusted partner to restaurants, and execution on our proven strategy position Toast to deliver value for our customers, shareholders and the entire restaurant community well into the future.”