Toast announced its fourth-quarter and full-year 2024 financial results on February 19, 2025, marking a pivotal moment as the company achieved GAAP profitability for the first time in its history. Full-year 2024 net income was $19 million, or 3 cents per share, on total revenue of $4.96 billion, an increase of 28% year-over-year.
For the fourth quarter of 2024, Toast reported revenue of $1.34 billion, and net income of $33 million, or 5 cents per share. The company added a record 28,000 net locations in 2024, concluding the year with approximately 134,000 total locations, and its Annualized Recurring Run-Rate (ARR) grew 34% to over $1.6 billion.
Toast also provided its full-year 2025 outlook, projecting 29% growth in fintech and subscription gross profit and an Adjusted EBITDA of $575 million at the midpoint. These results highlight the company's strong operational momentum, successful scaling of its platform, and a clear path for continued growth and profitability.
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