Toast Inc. (TOST) reported its first quarter financial results for 2024, highlighting a significant increase in key financial metrics. The company's GAAP gross profit rose by 43% year over year to $249 million, while non-GAAP gross profit grew 42% to $268 million. Gross Payment Volume (GPV) saw a 30% increase from the previous year, reaching $34.7 billion. Despite these gains, the company reported a GAAP net loss of $83 million and a GAAP EPS/Loss of $0.15. Additionally, Toast's total locations increased by 32% year over year to approximately 112,000, and its sales reached $1.075 billion. For Q2 2024, Toast expects a 20-24% year-over-year increase in total subscription and fintech gross profit, with adjusted EBITDA projected between $55 million and $65 million. The company's stock surged over 13% following the announcement.