Toast Inc. (TOST), a cloud-based, all-in-one digital platform built for restaurants, reported mixed second-quarter 2024 results, with earnings falling short of analysts’ expectations despite better-than-expected revenue. The company posted revenue of $1.24 billion, surpassing analysts’ estimate of $1.22.
Moreover, Toast added nearly 8,000 net new locations during the quarter. As of June 30, 2024, its annualized recurring run-rate (ARR) rose 29% year-over-year to $1.5 billion. However, the company’s second-quarter non-GAAP EPS was $0.04, missing the consensus estimate of $0.10.
