Toast surges to 428th in trading volume with $332 million day despite 8.46% stock price drop

On April 3, 2025, Toast (TOST) experienced a significant trading volume of $332 million, marking a 42.39% increase from the previous day. However, the stock price declined by 8.46%, placing it at the 428th position in terms of trading volume for the day.

Toast, led by CEO and Co-Founder Aman Narang, achieved a significant milestone by reporting its first-ever profitable year in 2024. The company posted a net income of $19 million, a remarkable turnaround from its $246 million net loss in 2023. This achievement was driven by strong growth in its customer base and expansion into new markets, including enterprise, international, and food and beverage retail sectors.

In 2024, Toast added a record 28,000 net new locations, bringing its total footprint to approximately 134,000 locations. The company's annualized recurring revenue (ARR) climbed 34% to exceed $1.6 billion, driven by a 26% year-over-year increase in gross payment volume (GPV) to $159.1 billion. The financial technology solutions and subscription services also saw strong performance, with gross profit in this category rising 34% to $1.4 billion. The company's Adjusted EBITDA skyrocketed from $61 million in 2023 to $373 million in 2024.

Toast ended the year on a high note, reporting $33 million in net income for Q4 2024, compared to a $36 million loss in the same quarter of 2023. Other key Q4 highlights include a 25% year-over-year increase in gross payment volume to $42.2 billion, GAAP operating income of $32 million (vs. a $56 million loss in Q4 2023), Adjusted EBITDA of $111 million (up from $29 million in Q4 2023), and net cash provided by operations of $147 million.

Looking ahead, Toast plans to double down on its growth strategy in 2025, with expectations for Adjusted EBITDA to rise to $510 million-$530 million for the full year. The company aims to expand its presence in enterprise, international, and food retail sectors. In 2024, Toast partnered with Uber Technologies to expand restaurant delivery options and secured major deals with Ascent Hospitality Management and Mendocino Farms.