Toast (TOST) FY2023 results: revenue $3.9 billion, up 41.5% on the year
Toast, Inc. (TOST) reported revenue of $3.9 billion for fiscal 2023, the year ended 31 December 2023, up 41.5% on the year before. Net income was -$246 million, and diluted earnings per share $-0.47. The figures are the company's own, from the 10-K it filed with the SEC on 27 February 2024.
Revenue
$3.9 billion
+41.5% on the year
FY2019FY2023
Operating margin
-7.4%
-14.1% a year earlier
FY2019FY2023
Net income
-$246 million
FY2019FY2023
Diluted EPS
-$0.47
FY2019FY2023
this yearthe year beforeHover a bar for its figure.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
135
-156
2.0
Capital expenditure
42.0
16.0
12.0
+162.5%
Free cash flow
93.0
-172
-10.0
Free cash flow margin
2.4%
-6.3%
-0.6%
Cash from investing
-86.0
-98.0
-503
Cash from financing
63.0
38.0
759
+65.8%
Depreciation and amortisation
32.0
24.0
21.0
+33.3%
Share-based compensation
277
228
140
+21.5%
Buybacks
0.0
0.0
n/a
Diluted shares, weighted
533m
512m
290m
+4.1%
Shares outstanding at period end
n/a
n/a
0
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
1,194
1,098
1,091
+8.7%
Redeemable equity
n/a
n/a
0.0
Debt
0.0
0.0
0.0
Operating lease liabilities
33.0
80.0
77.0
-58.8%
Other liabilities
731
583
567
+25.4%
Total liabilities and equity
1,958
1,761
1,735
+11.2%
Fixed assets
75.0
61.0
41.0
+23.0%
Goodwill
113
107
74.0
+5.6%
Intangible assets
26.0
29.0
16.0
-10.3%
Investments
519
474
457
+9.5%
Cash and equivalents
605
547
809
+10.6%
Receivables
69.0
77.0
55.0
-10.4%
Inventory
118
110
42.0
+7.3%
Other assets
433
356
241
+21.6%
Total assets
1,958
1,761
1,735
+11.2%
10-K for the year ended 31 December 2023, filed 27 February 2024: the filing.