Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Korea/Asia, Events, IPOs

Equity Capital Markets

<a href="https://www.marketwatch.com/story/toast-sets-ipo-terms-to-be-valued-at-up-to-165-billion-2021-09-13" target="_blank" rel="noopener">Toast Inc</a> is expected to complete its IPO in the US next week. The IPO price range is between $30 and $33 a share. The company is offering 21.74 million Class A shares in this IPO. At the high end of the IPO price range, the company would be raising $717.4 million. The lead underwriters of the IPO include Goldman Sachs, Morgan Stanley and J.P. Morgan.  At the high end of the IPO price range, the company's market cap would be $16.6 billion.
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Toast is the market leader of providing a one-stop shop of SaaS platform for the restaurant industry in the US. The company has experienced excellent growth in sales and a sharp improvement in its operating margins in the past year. 
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Toast Inc generated sales of $823.1 million (up 23.8% YoY), gross profit of $140.4 million (up 125.2% YoY), and operating loss of $220.2 million in 2020. Its sales growth accelerated sharply in 1H 2021. It had sales of $703.8 million (up 104.7% YoY), gross profit of $154.8 million (244.1% YoY), and operating loss of $56.8 million in 1H 2021.

Toast Inc is expected to complete its IPO in the US next week. The IPO price range is between $30 and $33 a share. The company is offering 21.74 million Class A shares in this IPO. At the high end of the IPO price range, the company would be raising $717.4 million. The lead underwriters of the IPO include Goldman Sachs, Morgan Stanley and J.P. Morgan.  At the high end of the IPO price range, the company's market cap would be $16.6 billion.

Toast is the market leader of providing a one-stop shop of SaaS platform for the restaurant industry in the US. The company has experienced excellent growth in sales and a sharp improvement in its operating margins in the past year. 

Toast Inc generated sales of $823.1 million (up 23.8% YoY), gross profit of $140.4 million (up 125.2% YoY), and operating loss of $220.2 million in 2020. Its sales growth accelerated sharply in 1H 2021. It had sales of $703.8 million (up 104.7% YoY), gross profit of $154.8 million (244.1% YoY), and operating loss of $56.8 million in 1H 2021.

United States

Toast, Inc. operates as a cloud-based restaurant software company. The Company designs and develops sale and management software system that helps restaurants to improve operations, increase sales, and create a better guest experience. Toast serves customers worldwide.

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Toast (TOST US)

Toast Inc IPO Preview

Toast Inc is the market leader of providing a one-stop shop of SaaS platform for the restaurant industry in the US. Toast Inc plans to complete its...

Douglas Kim

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