Toast, Inc. (NYSE:TOST) Q1 2022 Earnings Conference Call May 12, 2022 5:00 PM ET

Company Participants

Michael Senno - VP, IR & Treasury

Chris Comparato - CEO

Elena Gomez - CFO

Aman Narang - COO

Conference Call Participants

Tien-Tsin Huang - JPMorgan

Stephen Sheldon - William Blair

Timothy Chiodo - Credit Suisse

Josh Baer - Morgan Stanley

Will Nance - Goldman Sachs

Dave Koning - Baird

Josh Beck - KeyBanc

Brent Bracelin - Piper Sandler

Andrew Bauch - SMBC Nikko

Harshita Rawat - Bernstein

Operator

Good afternoon. My name is Sam and I will be your conference operator today. At this time, I would like to welcome everyone to the Toast Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session. [Operator Instructions] Thank you.

I'll now turn the call over to Michael Senno, Vice President of Investor Relations and Treasury. You may begin your conference.

Michael Senno

Thank you, Sam. Welcome to Toast earnings conference call for the first quarter ended March 31, 2022. On today's call, our CEO, Chris Comparato and CFO, Elena Gomez will open with prepared remarks. They will then be joined by our COO, Aman Narang for our Q&A session.

Before we start, I'd like to draw your attention to the Safe Harbor statement included in today's press release. During this call, we'll make statements related to our business that may be considered forward-looking within the meaning of the Securities and Exchange Act. All statements other than statements of historical fact are forward-looking statements, including those regarding management's expectations of future financial and operational performance and operational expenditures, expected growth, and business outlook, including our financial guidance for the second quarter and full year 2022.

Forward-looking statements reflect our views only as of today and, except as required by law, we undertake no obligation to update or revise these forward-looking statements. Please refer to the cautionary language in today's press release and our SEC filings for a discussion of the risks and uncertainties that could cause actual results to differ materially from our expectations.

During this call, we will discuss certain non-GAAP financial measures. These non-GAAP measures are not intended to be a substitute for GAAP results. Please refer to our earnings release and SEC filings for detailed reconciliation of these non-GAAP measures to the most comparable GAAP measures. Unless otherwise stated all references on this call to cost of revenue, gross profit and gross margin, selling and marketing expense, research and development expense and general and administrative expense are on a non-GAAP basis. Finally, both the press releases and a replay of this call, including the accompanying investor presentation will be available on our Investor Relations website at investors.toasttab.com.