Toast, Inc. operates a cloud-based and digital technology platform for the restaurant industry in the United States and Ireland. The company offers Toast Point of Sale (POS), a hardware product; Toast Order & Pay, which allows guests to order and pay from their mobile devices; Toast Flex that is used for on-counter order and pay, as well as used as a server station, guest kiosk, kitchen display system, or order fulfillment station; Toast Go, a handheld POS device that enhances the table turn times through tableside ordering and payment acceptance; and Toast Tap, a card reader. It also provides kitchen display system software that connects the front of the house with the kitchen staff; multi-location management software, which allows customers to manage and standardize their operations and configure menus; xtraCHEF that provides back-office tools; and Toast Flex for Kitchen, a larger format mountable piece of hardware that can be used as a kitchen screen. In addition, the company offers Toast Online Ordering & Toast TakeOut app, a software-based platform that provides restaurants to take off-premises orders directly through their branded website; First-Party Delivery services for restaurants to manage a fleet of drivers, and customize delivery hours, zones, fees, and minimum ticket sizes; Toast Delivery Services, which enables restaurants to utilize a partner network of delivery drivers; and Toast Delivery Partners services. Further, it provides loyalty programs and gift cards; payroll and team management products; business owner policy insurance and restaurant-specific add-ons; payment processing solutions; loans advanced to restaurants; purchase financing; reporting and analytics solutions; Toast Partner Connect that allows customers to discover, select, and connect their restaurant to its partners; and bi-directional APIs. The company was incorporated in 2011 and is headquartered in Boston, Massachusetts.

Toast, Inc.

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Income Statement	LTM
Total Revenues	5,858
Total Revenues %Chg	25.8%
Subscription Services
Financial Technology Solutions
Hardware
Professional Services
Hardware and Professional Services
Cost of Sales	4,355
Subscription Services
Financial Technology Solutions
Hardware
Professional Services
Hardware and Professional Services
Amortization of Acquired Intangible Assets
Gross Profit	1,503
Gross Profit
Gross Profit Margin	25.7%
Selling, General & Administrative Expenses	886
Sales and Marketing
General and Administrative
Research & Development Expenses	370
Research and Development
Other Operating Expenses	8
Restructuring Expenses
Operating Profit	239
Income from Operations
Operating Margin	4.1%
Interest and Investment Income	48
Interest Income, Net
Non-Operating Income	-10
Change in Fair Value of Warrant Liability
Change in Fair Value of Derivative Liability
Gain on Debt Extinguishment
Other Income, Net
Total Non-Operating Income	38
Income Before Provision for Income Taxes	277
Income Before Taxes
Provision for Income Taxes	4
Income Tax Expense
Consolidated Net Income	273
Net Income
Net Income Attributable to Preferred Dividends	—
Redemption of Series B Preferred Stock
Net Income Attributable to Common Shareholders	273
Net Loss Attributable to Common Stockholders
Basic EPS	0.5
Diluted EPS	0.4
Basic Weighted Average Shares Outstanding	577.3
Total Shares Outstanding	588
Diluted Weighted Average Shares Outstanding	604.3
EBITDA	298
Effective Tax Rate	1.4%