Toast’s second-quarter results showed 23% revenue growth to $1.9 billion and net income rising to $154 million from $80 million, reinforcing investor interest despite broader market anxiety.
A record 9,500 new locations lifted Toast’s total footprint to 180,000, while operating margins expanded to 26%, suggesting growth is not coming at the expense of profitability.
Net cash generation still fell 8.6% to $276 million from $302 million because management built up hardware inventory as memory-chip supplies tightened.
That inventory build could support faster customer onboarding ahead, but Toast remains exposed to the wider economy because its payment and software business depends on restaurant spending.