Toast, Inc. operates a cloud-based and digital technology platform for the restaurant industry in the United States and Ireland. The company offers Toast Point of Sale (POS), a hardware product; Toast Order & Pay, which allows guests to order and pay from their mobile devices; Toast Flex that is used for on-counter order and pay, as well as used as a server station, guest kiosk, kitchen display system, or order fulfillment station; Toast Go, a handheld POS device that enhances the table turn times through tableside ordering and payment acceptance; and Toast Tap, a card reader. It also provides kitchen display system software that connects the front of the house with the kitchen staff; multi-location management software, which allows customers to manage and standardize their operations and configure menus; xtraCHEF that provides back-office tools; and Toast Flex for Kitchen, a larger format mountable piece of hardware that can be used as a kitchen screen. In addition, the company offers Toast Online Ordering & Toast TakeOut app, a software-based platform that provides restaurants to take off-premises orders directly through their branded website; First-Party Delivery services for restaurants to manage a fleet of drivers, and customize delivery hours, zones, fees, and minimum ticket sizes; Toast Delivery Services, which enables restaurants to utilize a partner network of delivery drivers; and Toast Delivery Partners services. Further, it provides loyalty programs and gift cards; payroll and team management products; business owner policy insurance and restaurant-specific add-ons; payment processing solutions; loans advanced to restaurants; purchase financing; reporting and analytics solutions; Toast Partner Connect that allows customers to discover, select, and connect their restaurant to its partners; and bi-directional APIs. The company was incorporated in 2011 and is headquartered in Boston, Massachusetts.

Toast, Inc.

Subscription Services

Subscription Services %Chg

Subscription Services Common Size

Financial Technology Solutions

Financial Technology Solutions %Chg

Financial Technology Solutions Common Size

Hardware

Hardware %Chg

Hardware Common Size

Professional Services

Professional Services %Chg

Professional Services Common Size

Hardware and Professional Services

Hardware and Professional Services %Chg

Hardware and Professional Services Common Size

Total Revenue

Total Revenue %Chg

Total Revenue Common Size

Amortization of Acquired Intangible Assets

Amortization of Acquired Intangible Assets %Chg

Amortization of Acquired Intangible Assets Common Size

Total Costs of Revenue

Total Costs of Revenue %Chg

Total Costs of Revenue Common Size

Gross Profit

Gross Profit %Chg

Gross Profit Common Size

Sales and Marketing

Sales and Marketing %Chg

Sales and Marketing Common Size

Research and Development

Research and Development %Chg

Research and Development Common Size

General and Administrative

General and Administrative %Chg

General and Administrative Common Size

Restructuring Expenses

Restructuring Expenses %Chg

Restructuring Expenses Common Size

Total Operating Expenses

Total Operating Expenses %Chg

Total Operating Expenses Common Size

Income from Operations

Income from Operations %Chg

Income from Operations Common Size

Interest Income, Net

Interest Income, Net %Chg

Interest Income, Net Common Size

Interest Expense

Interest Expense %Chg

Interest Expense Common Size

Change in Fair Value of Warrant Liability

Change in Fair Value of Warrant Liability %Chg

Change in Fair Value of Warrant Liability Common Size

Change in Fair Value of Derivative Liability

Change in Fair Value of Derivative Liability %Chg

Change in Fair Value of Derivative Liability Common Size

Gain on Debt Extinguishment

Gain on Debt Extinguishment %Chg

Gain on Debt Extinguishment Common Size

Other Income, Net

Other Income, Net %Chg

Other Income, Net Common Size

Income Before Taxes

Income Before Taxes %Chg

Income Before Taxes Common Size

Income Tax Expense

Income Tax Expense %Chg

Income Tax Expense Common Size

Net Income

Net Income %Chg

Net Income Common Size

Redemption of Series B Preferred Stock

Redemption of Series B Preferred Stock %Chg

Redemption of Series B Preferred Stock Common Size

Net Loss Attributable to Common Stockholders

Net Loss Attributable to Common Stockholders %Chg

Net Loss Attributable to Common Stockholders Common Size

Net Loss per Share Attributable to Common Stockholders, Basic and Diluted

Net Loss per Share Attributable to Common Stockholders, Basic and Diluted %Chg

Net Loss per Share Attributable to Common Stockholders, Basic and Diluted Common Size

Weighted Average Shares Used in Computing Net Loss per Share, Basic and Diluted

Weighted Average Shares Used in Computing Net Loss per Share, Basic and Diluted %Chg

Weighted Average Shares Used in Computing Net Loss per Share, Basic and Diluted Common Size

Total Revenues

Total Revenues %Chg

Total Revenues Common Size

Cost of Sales

Cost of Sales %Chg

Cost of Sales Common Size

Gross Profit Margin

Gross Profit Margin %Chg

Gross Profit Margin Common Size

Selling, General & Administrative Expenses

Selling, General & Administrative Expenses %Chg

Selling, General & Administrative Expenses Common Size

Research & Development Expenses

Research & Development Expenses %Chg

Research & Development Expenses Common Size

Other Operating Expenses

Other Operating Expenses %Chg

Other Operating Expenses Common Size

Operating Profit

Operating Profit %Chg

Operating Profit Common Size

Operating Margin

Operating Margin %Chg

Operating Margin Common Size

Interest and Investment Income

Interest and Investment Income %Chg

Interest and Investment Income Common Size

Non-Operating Income

Non-Operating Income %Chg

Non-Operating Income Common Size

Revenue

EBIT

EBITDA

CapEx

Net Interest Income

Assets

Adjusted EBITDA

Adjusted Net Income

Net Revenue

Average Assets

Adjusted EBIT

Adjusted Revenue

Adjusted EBT

Adjusted Funds From Operations

Income Statement	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24
Total Revenues	1,633	1,550	1,337	1,338	1,305	1,242
Total Revenues %Chg	25.1%	24.8%	24.4%	29.2%	26.5%	27%
Subscription Services
Financial Technology Solutions
Hardware
Professional Services
Hardware and Professional Services
Cost of Sales	1,201	1,158	991	1,005	983	956
Subscription Services
Financial Technology Solutions
Hardware
Professional Services
Hardware and Professional Services
Amortization of Acquired Intangible Assets
Gross Profit	432	392	346	333	322	286
Gross Profit
Gross Profit Margin	26.5%	25.3%	25.9%	24.9%	24.7%	23%
Selling, General & Administrative Expenses	246	220	212	208	199	190
Sales and Marketing
General and Administrative
Research & Development Expenses	102	91	84	93	89	87
Research and Development
Other Operating Expenses	—	1	7	—	—	4
Restructuring Expenses
Operating Profit	84	80	43	32	34	5
Income from Operations
Operating Margin	5.1%	5.2%	3.2%	2.4%	2.6%	0.4%
Interest and Investment Income	13	11	12	12	9	10
Interest Income, Net
Interest Expense	—	—	—	—	—	—
Interest Expense
Non-Operating Income	7	-8	3	-13	14	-1
Change in Fair Value of Warrant Liability
Change in Fair Value of Derivative Liability
Gain on Debt Extinguishment
Other Income, Net
Total Non-Operating Income	20	3	15	-1	23	9
Income Before Provision for Income Taxes	104	83	58	32	57	14
Income Before Taxes
Provision for Income Taxes	-1	3	2	—	1	—
Income Tax Expense
Consolidated Net Income	105	80	56	32	56	14
Net Income
Net Income Attributable to Preferred Dividends	—	—	—	—	—	—
Redemption of Series B Preferred Stock
Net Income Attributable to Common Shareholders	105	80	56	32	56	14
Net Loss Attributable to Common Stockholders
Basic EPS	0.2	0.1	0.1	0.1	0.1	0
Diluted EPS	0.2	0.1	0.1	0.1	0.1	0
Basic Weighted Average Shares Outstanding	585	580	575	569	563	556
Total Shares Outstanding	587	581	577	572	565	560
Diluted Weighted Average Shares Outstanding	609	605	603	600	590	587
EBITDA	97	96	62	43	46	17
Effective Tax Rate	-1%	3.6%	3.4%	—	1.8%	—