Toast Reports Record Growth as It Eyes 2025 Expansion

Published 15 hours agoTOST

Toast Reports Record Growth as It Eyes 2025 Expansion

Toast has announced ambitious growth plans for 2025, spotlighting impressive performance in the second quarter of 2024. The restaurant technology company achieved a record by adding approximately 8,000 new net locations, bringing the total to around 120,000—representing a 29% growth compared to the previous year.

In terms of financial metrics, Toast reported an Annualized Recurring Revenue (ARR) of $1.5 billion as of June 30, 2024, reflecting another 29% increase over the past year. Additionally, the company outperformed expectations by achieving GAAP profitability and reported an adjusted EBITDA of $92 million in Q2 2024. These results were highlighted in a recent report by Business Wire.

Toast is focusing on leveraging artificial intelligence to boost customer value, with initiatives that include using generative AI for marketing, data-driven tools for menu optimization, and AI solutions like Sous Chef. These strategies are part of Toast's broader plan to expand into new markets and grow the number of locations they serve, aiming to significantly increase the current count of 134,000 locations by 2025.

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