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.

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Revenue	LTM	Dec '24	Dec '23
Subscription Services Revenue	880	706	500
Financial Technology Solutions Revenue	4,793	4,053	3,189
Hardware Revenue	—	—	—
Professional Services Revenue	—	—	—
Total Hardware and Professional Services Revenue	185	201	176
Total Revenue	5,858	4,960	3,865

Gross Profit	LTM	Dec '24	Dec '23
Subscription Services Gross Profit	623	487	334
Financial Technology Solutions Gross Profit	1,087	878	686
Hardware Gross Profit	—	—	—
Professional Services Gross Profit	—	—	—
Total Hardware and Professional Services Gross Profit	-202	-170	-181
Other Gross Profit	-5	-5	-5
Total Gross Profit	1,503	1,190	834

Key Performance Indicators	LTM	Dec '24	Dec '23
Gross Payment Volume	185,800	159,100	126,100
Annualized Recurring Run-Rate (ARR)	2,016	1,626	1,218
Net Retention Rate (NRR)	—	117%	111%
Total Number of Locations	156,000	134,000	106,000