Toast, Inc. (TOST): restructuring charge — Toast Q4 revenue $1.0B (+35%); ARR $1.2B; positive Adj EBITDA; $250M buyback; 550 layoffs

Toast, Inc.

2023-FY EPS reported -$0.47 revenue$3,865,000,000

Q4 revenue $1.0B (+35% YoY); GPV $33.7B (+32%); total locations 106,000 (+34%); added 6,500 net new locations.
Q4 net loss $36M vs $99M YoY; Adj EBITDA $29M vs -$18M; expects GAAP operating income profit by H1 2025.
Full year 2023 revenue $3.9B (+42%); GPV $126.1B (+38%); net loss $246M vs $275M; Adj EBITDA $61M vs -$115M.
Restructuring plan approved: ~550 employees impacted; expects $45-55M charges in Q1 2024; completion by end of FY2024.
Board authorized $250M share repurchase program with no expiration; repurchases may be made via open market or 10b5-1 plans.

item 2.02 item 2.05 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Restructurings & Charges SEC 8-K Item 2.05/2.06 confidence 0.9

Toast, Inc. announced a restructuring with charges of approximately $45 to $55 million (approximately 550 employees).

Type: restructuring
Charge: approximately $45 to $55 million
Headcount: approximately 550 employees

Exact text from the filing

Plan by the end of fiscal year 2024. As part of this Restructuring Plan, the Company expects to incur restructuring and restructuring-related charges of approximately $45 to $55 million, primarily related to severance and severance-related costs and certain other costs related to facilities. Substantially all of these charges are expected to be

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6 restructurings & charges filed in the last 30 days. Browse all restructurings & charges →

Toast, Inc. filing history →

Source: SEC EDGAR

accession 0001650164-24-000069

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