TOST - Toast Inc. (TOST) Q4 2023 Earnings Call Transcript
2024-02-15 21:56:03 ET
Toast, Inc. (TOST)
Q4 2023 Earnings Conference Call
February 15, 2024 05:00 PM ET
Company Participants
Michael Senno - SVP, Finance
Aman Narang - CEO
Elena Gomez - CFO
Conference Call Participants
Will Nance - Goldman Sachs
Harshita Rawat - Bernstein
Tien-Tsin Huang - JPMorgan
Stephen Sheldon - William Blair
Dave Koning - Baird
Tim Chiodo - UBS
Samad Samana - Jefferies
Josh Baer - Morgan Stanley
Darrin Peller - Wolfe Research
Dominic Ball - Redburn Atlantic
Presentation
Operator
Good afternoon. My name is Kate and I will be your conference operator today. At this time, I would like to welcome everyone to the Toast Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions]
Thank you. I'll now turn the call over to Michael Senno, Senior Vice President of Finance. You may begin the conference.
Michael Senno
Thanks Kate. Welcome to Toast's earnings conference call for the fourth quarter and full year ended December 31st, 2023. On today's call are CEO and Co-Founder, Aman Narang; and CFO, Elena Gomez. We'll open our 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 can be 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 or future financial and operational performance and operational expenditures, location growth, future profitability timeline and margin outlook, anticipated impact of our restructuring plan and share repurchase program, expected growth and business outlook, including our financial guidance for the first 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 uncertainties 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 topline 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.
Unless otherwise stated, all references on this call to cost of revenue, gross profit and gross margin, sales and marketing expense, research and development expense, and general and administrative expense are on a non-GAAP basis....
Toast, Inc. (TOST) Q4 2023 Earnings Call Transcript