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Mar 31, 2022
Toast Q1 2022 Earnings Report
Toast reported a strong first quarter, exceeding expectations and adding a record number of net new locations.
Key Takeaways
Toast's first quarter 2022 financial results showed significant growth, with revenue increasing by 90% year-over-year to $535 million. The company added over 5,000 net new locations and achieved a 66% year-over-year growth in ARR, reaching $637 million. Gross Payment Volume (GPV) also saw substantial growth, increasing by 98% year-over-year to $17.8 billion.
Total locations increased nearly 45% year-over-year to approximately 62,000.
Revenue grew 90% year-over year to $535 million.
ARR as of March 31, 2022 was $637 million, up 66% year-over-year.
Gross Payment Volume (GPV) increased 98% year-over-year to $17.8 billion.
Toast
Toast
Toast Revenue by Segment
Revenue by Segment
Subscription Services Revenue
CapyFin.comFinancial Technology Solutions Revenue
CapyFin.comHardware and Professional Services Revenue
CapyFin.comHardware and Professional Services Revenue
CapyFin.com Forward Guidance
For the second quarter ending June 30, 2022, Toast expects to report revenue in the range of $635 million to $665 million and Adjusted EBITDA in the range of $(60) million to $(50) million. For the full year ending December 31, 2022, Toast expects to report revenue in the range of $2,500 million to $2,550 million and Adjusted EBITDA in the range of $(195) million to $(175) million.
Positive Outlook
- Revenue in the range of $635 million to $665 million for Q2 2022.
- Adjusted EBITDA in the range of $(60) million to $(50) million for Q2 2022.
- Revenue in the range of $2,500 million to $2,550 million for the full year 2022.
- Adjusted EBITDA in the range of $(195) million to $(175) million for the full year 2022.
- Full year revenue guidance increased from $2,349-$2,409 million to $2,500-$2,550 million.
Challenges Ahead
- Adjusted EBITDA is expected to be negative for Q2 2022.
- Adjusted EBITDA is expected to be negative for the full year 2022.
- Net cash used in operating activities of $47 million.
- Free Cash Flow of $(50.0) million.
- Adjusted EBITDA was $(45) million in Q1 2022 compared to Adjusted EBITDA of $4 million in Q1 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income