Net loss was $(81) million in Q1 2023 compared to net loss of $(23) million in Q1 2022.Non-GAAP gross profit grew 87% year-over year to $189 million. Gross profit of $174 million was up 96% year-over-year from Q1 2022.Revenue grew 53% year-over year to $819 million.Total locations increased nearly 40% year-over-year to approximately 85,000, with net new locations of over 5,500 in Q1 2023.Gross Payment Volume (GPV) increased 50% year-over-year to $26.7 billion.ARR as of Mawas $987 million, up 55% year-over-year.“Through exciting new products like Toast Tables and ongoing investment in our platform, we remain committed to serving the restaurant industry in increasingly meaningful ways.”įinancial Highlights for the First Quarter of 2023 Toast is positioned for lean, durable growth going forward given the healthy demand for restaurants, our differentiated go-to-market engine driving strong location growth in all segments of the industry, and our commitment to driving efficiencies,” said Toast CEO Chris Comparato. “Toast’s first quarter results marked a strong start to the year, coming in ahead of expectations thanks to the consistent execution of our core strategy: driving location growth, more deeply serving our customers across all segments of the restaurant industry, and pushing the industry forward through product innovation. Toast (NYSE: TOST), the all-in-one digital technology platform built for restaurants, today reported financial results for the first quarter ended March 31, 2023. Added over 5,500 net new locations in first quarter 2023Īnnualized recurring run-rate (ARR) as of Magrew 55% year-over-yearįirst quarter gross profit grew 96% and non-GAAP gross profit grew 87% year-over-year

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