Toast, Inc. (NYSE:TOST) shares are trading higher after the company reported its fourth-quarter financial results after the bell Thursday. Here’s a look at the highlights.
The Details:
Toast reported quarterly losses of 7 cents per share, which beat the analyst consensus estimate of losses of 11 cents per share by 36.36%.
The company reported quarterly sales of $1.04 billion, which beat the analyst consensus estimate of $1.02 billion by 1.91% and represents a 34.72% increase over sales of $769 million from last year.
Toast’s board of directors have authorized a share repurchase program of up to $250 million of its Class A common stock.
Outlook: Toast expects first-quarter non-GAAP subscription services and financial technology solutions gross profit in the range of $275 million to $285 million, representing 20% to 24% growth year-over-year, and adjusted EBITDA in the range of $15 million to $25 million.
Toast expects full-year 2024 non-GAAP subscription services and financial technology solutions gross profit in the range of $1.3 billion to $1.32 billion, representing 23% to 25% growth year-over-year, and adjusted EBITDA in the range of $200 million to $220 million.
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TOST Price Action: According to Benzinga Pro, Toast shares are trading up 8.71% after-hours at $20.90 at the time of publication.
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