Toast, Inc. (TOST) stock plummeted 14.67% during intraday trading on Friday, reflecting significant selling pressure.

The sharp decline followed the company's release of financial guidance that fell short of market expectations. Toast projected second-quarter non-GAAP subscription services and fintech gross profit between $565 million and $575 million, with adjusted EBITDA forecast between $185 million and $195 million. For the full year, the company guided for non-GAAP subscription services and fintech gross profit of $2.29 billion to $2.32 billion and adjusted EBITDA of $790 million to $810 million.

Investors reacted negatively to the outlook, indicating concerns about the company's growth trajectory despite earlier strong earnings. The guidance was viewed as underwhelming, triggering sustained selling pressure that extended from pre-market into the regular session.