Toast — Feb 19, 2025 release

“Our record location adds show the momentum with our core customer base, and the positive signals across our newer customer groups: enterprise, international and food and beverage retail. In 2025, we’ll accelerate our efforts across these new addressable markets and continue to further differentiate our platform. We’re well on our way to our ultimate goal: serving many multiples of the 134,000 locations we do today, and delivering durable growth and strong profitability over the long term.” Financial Highlights for the Fourth Quarter of 2024 • ARR as of December 31, 2024 was $1.6 billion, up 34% year over year. • Total Locations increased 26% year over year to approximately 134,000. • Gross Payment Volume (GPV) increased 25% year over year to $42.2 billion. • GAAP subscription services and financial technology solutions gross profit was up 40% year over year to $378 million. Non-GAAP subscription services and financial technology solutions gross profit grew 39% year over year to $392 million. • GAAP income from operations was $32 million in Q4 2024 compared to GAAP loss from operations of $(56) million in Q4 2023. • GAAP net income was $33 million in Q4 2024 compared to GAAP net loss of $(36) million in Q4 2023. Adjusted EBITDA was $111 million in Q4 2024 compared to Adjusted EBITDA of $29 million in Q4 2023. • Net cash provided by operating activities of $147 million and Free Cash Flow of $134 million in Q 4 2024 , compared to net cash provided by operating activities of $92 million and Free Cash Flow of $81 million in Q 4 2023 . Financial Highlights for the Full Year 2024 • GPV for the ful