secwatch.observer — SEC 8-K summary
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Issuer:     Toast, Inc. (TOST)
CIK:        0001650164
Form:       8-K
Filed at:   2024-02-15T23:59:59+00:00
Accession:  0001650164-24-000069
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 2.05, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Toast Q4 revenue $1.0B (+35%); ARR $1.2B; positive Adj EBITDA; $250M buyback; 550 layoffs
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1650164/000165016424000069/0001650164-24-000069-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1650164/000165016424000069/tost-20240215.htm
  HTML page:      https://secwatch.observer/filing/0001650164-24-000069

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer