Toast Turned $1.91 Billion in Revenue Into $154 Million in Profit. The Payments Half Is Doing the Heavy Lifting.
Toast's growth model revolves around its payments services, but there's more to the picture.
Overview
Toast (NYSE: TOST) is a leading provider of financial technology services for businesses in the restaurant industry. The business is growing rapidly and still seems to have a long runway for expansion, but some of its business segments are carrying a lot more weight on the profitability front than others.
In the second quarter, Toast's revenue grew 23% to reach roughly $1.91 billion. Meanwhile, the business posted net income of $154 million in the period -- good for a margin of roughly 80.7%. The company's payments business once again did the heavy lifting in driving profits, but the picture is also more nuanced.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.