Toast Inc (TOST)

[SmokyStock]

(Toast stock heats up after earnings as company hits a milestone)-

Toast Inc. beat revenue expectations for the latest quarter and logged positive free cash flow for the first time since its IPO. The company reported a second-quarter net loss of $98 million, or 19 cents per share, compared to a loss of $54 million in the year-prior period. Toast also recorded adjusted earnings before interest, taxes, depreciation and amortization (Ebitda) of $15 million, compared to a loss of $33 million a year prior. The company posted free cash flow of $39 million, its first positive performance since Toast went public two years ago. CEO Chris Comparato expressed confidence in Toast's ability to penetrate the entire restaurant total addressable market. Revenue jumped to $978 million from $675 million, while the FactSet consensus was for $943 million. The stock was up 11% in Tuesday's extended session. For the third quarter, Toast estimates $1.01 billion to $1.04 billion in revenue, while the FactSet consensus was for $1.00 billion.