On February 15, shares of Toast Inc. (TOST) fell in the after-hours following its financial results for 2021. The company declared its fourth quarter and full-year 2021 financial results on Tuesday, after the bell.
In the regular trading session, TOST stock remained in the green with a gain of 2.48% in its value. After reaching a high of $29.37 at 4.64 million shares, the stock closed the session at $28.12 per share. Following the announcement, the stock took a hit in the after-hours and plunged down to $23.85 per share. Thus, TOST subtracted a value of 15.18% at an after-hours volume of 681.42K shares on Tuesday.
Founded in 2011, Toast Inc. provides consumer payment applications for restaurants. Currently, the company has a market capitalization of $13.85 billion with 73.73 million shares outstanding. In the past five days, TOST has added 8.95% while increasing by 15.86% last month. Moreover, the stock stands at a year-to-date loss of 18.99%.
TOST’s Q4 2021 Highlights
In Q4 2021, the company’s revenue increased by 111% YOY to $512 million.
TOST had a net income of $2 million in Q4 2021, against a net loss of $61 million in the year-ago period.
Additionally, the adjusted EBITDA was $(45) million in Q4 2021.
Full Year 2021 Highlights
For fiscal 2021, the company reported revenue of $1,705 million with a growth of 107% YOY.
Furthermore, the net loss for fiscal 2021 was $487 million, against $248 million in the previous year.
TOST reported adjusted EBITDA of $(42) million for fiscal 2021.
TOST’s Future Guidance
For Q1 2022 the company expects revenue between $469 and $499 million with adjusted EBITDA of $(65) to $(55) million.
In addition, for the fiscal 2022, the expected revenue is between $2,349 and $2,409 million with adjusted EBITDA of $(240) to $(200) million.
Addition to the Board
On December 01, 2021, the company announced the appointment of Hilarie Koplow-McAdams to its Board. Ms. Koplow-McAdams has extensive experience of over thirty years in the technology industry. Presently, she is a Venture Partner with a venture capital firm, New Enterprise Associates (NEA). Before this, she served at New Relic, Inc. as its president. She has also remained as the President of Global Sales at Salesforce and executive positions at Intuit Inc. and Oracle Corporation.
Ms. Koplow-McAdams has received her M.A. in Public Policy from the University of Chicago and B.A. in Sociology from Mills College.
Conclusion
In conclusion, the company’s wider than expected loss resulted in the disappointment of investors. Therefore, the stock suffered a huge loss in the after-hours on Tuesday.
