7/26/2023 0 Comments Toast pos login![]() ![]() Our upsell team allows us to be more nimble about what we sell upfront and how we grow with customers over time, ensuring we phase in products at the right time for different customers. In addition, as Chris discussed, as we develop our upsell motion, we have become more sophisticated about optimizing the mix of products to land the booking. At the same time, we ramped several key new products, all of which led to landing much higher ARPU at booking. “Looking specifically at SaaS ARPU, it increased nearly 60% since the end of 2020, as we expanded from a point-of-sale offering to an integrated platform and shifted to selling the product on a platform basis. On its earnings call, CFO Elena Gomez said: The percentage of locations using 6 or more TOST products rose to 42%, versus 36% a year ago. SaaS ARPU rose 16% year over year and 3% sequentially. Toast Capital contributed $26 million of gross profit in the quarter and had $170 million in originations. TOST’s net take rate increased to 56 basis points, while other fintech products added 10 basis points. ![]() Gross payment volume (GPV) climbed 50% to $26.7 billion. ![]() Subscription ARR rose 60% to $484 million, while payments ARR climbed 51% to $503 million. This metric is its annualized subscription revenue and its fintech gross profit, excluding Toast Capital. TOST’s annual recurring run-rate jumped 55% to $987 million. Subscription revenue rose 70% to $107 million, while fintech gross profits jumped 65% to $150 million. Notably, revenue growth accelerated from its Q4 pace of 50%. That easily surpassed analyst estimates of $763 million. Q1 Earningsįor Q1, TOST saw revenue soar 53% to $819 million. The company just posted great results and upped its guidance, and it remains one of my favorite growth stocks. Ahead of earnings, I took a bullish view on Toast ( NYSE: TOST). ![]()
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