TOST - Toast Inc. (TOST) Q1 2024 Earnings Call Transcript
2024-05-07 20:50:24 ET
Toast, Inc. (TOST)
Q1 2024 Earnings Conference Call
May 07, 2024, 17:00 ET
Company Participants
Michael Senno - SVP, Finance & Strategy, Treasury and IR
Aman Narang - Co-Founder, CEO & Director
Elena Gomez - CFO
Conference Call Participants
Joshua Baer - Morgan Stanley
David Hynes - Canaccord Genuity
Harshita Rawat - Sanford C. Bernstein & Co.
Peter Heckmann - D.A. Davidson & Co.
Timothy Chiodo - UBS
Dominic Ball - Redburn
Tien-Tsin Huang - JPMorgan Chase & Co.
Jason Kupferberg - Bank of America Merrill Lynch
Sheriq Sumar - Evercore ISI
Matthew Coad - Autonomous
David Koning - Robert W. Baird & Co.
Stephen Sheldon - William Blair & Company
Presentation
Operator
Good afternoon. My name is Cameron, and I will be your conference operator today. At this time, I would like to welcome everyone to Toast First Quarter 2024 Earnings Conference Call. Today's call will be 45 minutes. I'll now turn the call over to Michael Senno, Senior Vice President of Finance. You may now begin your conference.
Michael Senno
Thank you, Cameron. Welcome to Toast's earnings conference call for the first quarter ended March 31, 2024. On today's call are CEO and Co-Founder, Aman Narang; and CFO, Elena Gomez, who'll open with prepared remarks, which will be followed by our Q&A session.
Before we start, I'd like to draw your attention to the safe harbor statement included in today's press release. During this call, we'll make statements related to our business that may be considered forward-looking within the meaning of the Securities Act and the Exchange Act. All statements other than statements of historical facts are forward-looking statements, including those regarding management's expectations of future financial and operational performance and operational expenditures, location growth, future profitability, time line and margin outlook, anticipated impact of our restructuring plan and share repurchase program, expected growth and business outlook, including our financial guidance for the second quarter and full year 2024.
Forward-looking statements reflect our views only as of today, and except as required by law, we undertake no obligation to update or revise these forward-looking statements. Please refer to the cautionary language in today's press release and our SEC filings for a discussion of the risks and uncertainty that could cause actual results to differ materially from our expectations.
During this call, we will discuss certain non-GAAP financial measures, including but not limited to, non-GAAP subscription services gross profit and non-GAAP financial technology solutions gross profit, which we refer to collectively as our recurring gross profit streams. These are the basis for our top line guidance. These non-GAAP measures are not intended to be a substitute for our GAAP results. Please refer to our earnings release and SEC filings for detailed reconciliations of these non-GAAP measures to the most comparable GAAP measures. ...
Toast, Inc. (TOST) Q1 2024 Earnings Call Transcript