Toast expects revenue to fluctuate over time

Even though most US cities have allowed businesses to fully reopen at this point, the pandemic has spurred many restaurants to rethink the way they interact with customers. Many US restaurants have invested in technology to digitize their services, and as of February 57% of consumers surveyed by the National Restaurant Association had used their devices to view a menu online, while 18% had used mobile pay at a restaurant.

Toast has rolled out new products over the past year to meet this shift, developing tools that allow indoor dining customers to order and pay on their phones, for example, or receive notifications for curbside takeout. These investments paid off in the first six months of 2020, during which the startup’s revenue grew by 105% compared to the previous June. But the company warned investors that the economic conditions of the pandemic have been unusual, and this rapid growth is not necessarily indicative of its future performance.

“We expect our revenue growth rate to fluctuate over the short and long term,” Toast wrote in its S-1.

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