Aug. 4 at 11:40 PM
$TOST — In May, Toast devoted a multi-paragraph prepared-remarks block to Toast Local: 2x weekly app downloads, Resy integration, explicit competitive framing.
In August: one clause in Q&A, no metrics, no update.
Meanwhile, the record 9,500 net location adds came predominantly from core, not new TAMs — which are on track to nearly double ARR to
$200M this year, now a stated target.
Hardware margins still negative (-11% of recurring GP in Q2 vs -13% in Q1), but management called it a structural long-term win once memory markets stabilize.
Toast IQ Grow is the "fastest-growing product ever launched," running positive margins,
$10M ARR in sight — conversion rates from trial to paid not yet disclosed.
#TheGapReport
