Toast Inc. shares were popping in Tuesday’s after-hours action after the maker of technology for the restaurant industry beat revenue expectations for the latest quarter and logged positive free cash flow for the first time since its initial public offering.
Toast... Toast Inc. shares were popping in Tuesday’s after-hours action after the maker of technology for the restaurant industry beat revenue expectations for the latest quarter and logged positive free cash flow for the first time since its initial public offering. Toast TOST also recorded adjusted earnings before interest, taxes, depreciation and amortization of $15 million, whereas it posted a $33 million loss on the metric a year prior. Analysts were modeling a $3 million adjusted Ebitda loss for the latest quarter.The company posted free cash flow of $39 million, its first positive performance on the metric since Toast went public about two years ago, “as we remain focused on driving lean, durable growth,” according to Chief Executive Chris Comparato.
For the third quarter, the company models $1.01 billion to $1.04 billion in revenue, while the FactSet consensus was for $1.00 billion.