Toast: I Was Wrong
Toast, Inc. is experiencing slowing revenue growth, particularly due to a decline in gross payment volume (GPV) per location. The company's subscription services are performing well, contributing significantly to gross profits. However, the stock is rated a 'hold' until there are clear signs of revenue acceleration.
- ▪Toast has faced decelerating revenue growth over the last two quarters.
- ▪The company missed expectations in Q1 due to declining GPV per location.
- ▪Subscription services have grown 28% year-over-year and account for 46.5% of gross profits.
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