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I’m writing about Toast (NYSE:TOST) on the day after the provider of cloud-based restaurant-management software reported mixed fourth-quarter earnings. Toast stock lost more than 22% of its value on the news. 

I intended to write this piece before Humpty Dumpty had a big fall. However, nothing in the firm’s results changes my investment thesis on Toast. If anything, the results strengthen my thesis on TOST because the shares became one-fifth cheaper than before it reported its earnings. As Warren Buffett  famously said, “Be greedy when others are fearful and fearful when others are greedy.” 

So, as you might guess from the headline of this article, the partnership that Toast announced with Google earlier this month caught my attention. I’ve been very supportive of TOST stock over the past year as TOST worked to further scale its business while moving towards profitability. 

By integrating  Toast’s Online Ordering with Order with Google, restaurants will obtain new ordering channels that will drive additional sales for them. It’s impossible to deny the importance of this combination  for independent restaurants. For them, the combined product  could be the difference between success and failure.

However, there are many other reasons besides the Google deal to buy Toast stoc . Here are three such reasons. 

It Just Drove Away With This California Tech Biz

Within Toast’s earnings press release, the firm noted that it had acquired Delphi Display Systems, a California-based provider of drive-thru technology and digital-display solutions for quick-service restaurants.  

The deal marks another step in Toast’s mission to become restaurants’ best friends. Anything that the firm can do to help restaurants become more efficient is in Toast’s best long-term interests. Delphi’s technology is used by more than 40,000 quick-service restaurants worldwide. 

“Delphi’s vision is to transform the drive-thru experience with state-of-the-art innovation,” said Delphi’s CEO, Ken Neeld, in a statement. “We see Toast as a leading restaurant technology platform and a similarly forward-thinking partner, so we couldn’t imagine a better next chapter for Delphi.”

Toast first started working with Delphi in April 2022. The partnership was so successful that the company decided to make it permanent. It is these smaller acquisitions that often generate the biggest returns. 

I look forward to seeing how the two companies continue to innovate together. For Toast, this development could be even more important than the Google partnership  for advancing its position within the restaurant industry.