Toast announced its third-quarter 2024 financial results on November 7, 2024, reporting total revenue of $1.31 billion, which represents a 27% increase year-over-year. The company achieved a net income of $56 million, translating to 7 cents per share, demonstrating a significant improvement in profitability.
During the quarter, Toast added approximately 7,000 net new locations, bringing its total number of active locations to nearly 127,000, reflecting continued expansion of its customer base. Recurring gross profit streams also saw substantial growth, increasing by 35% year-over-year.
Adjusted EBITDA for the third quarter grew by an impressive 222% year-over-year, underscoring the company's operational leverage and efficiency. These results highlight Toast's strong financial performance and its ability to scale profitably within the restaurant technology market.
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