Toast's stock heats up on sales jump

By Jon Swartz

Toast Inc.'s stock popped higher in after-hours trading Thursday after the company posted strong quarterly sales.

The cloud-based restaurant-management software company (TOST) reported a fiscal fourth-quarter net loss of $36 million, or 7 cents a share, compared with a net loss of $99 million, or 19 cents a share, in the same quarter a year ago.

Revenue climbed 35% to $1.04 billion from $769 million in the year-ago quarter.

Analysts surveyed by FactSet had expected on average net income of 3 cents a share on revenue of $1.02 billion.

After initially jumping 16% immediately following its results, Toast shares ended Thursday's after-hours session up 6%.

Shares of Toast are down 4% over the past year, while the broader S&P 500 index SPX has increased 23%.

-Jon Swartz

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02-15-24 2009ET

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