Tuesday 3 November 2026 Export TOST’s income statement to Excel — free account

Toast, Inc.

Toast, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $6.2 billion, up 24.1% from fiscal 2024.

Revenue: +23.1%
EPS: +92.9%
Free cash flow: −37.5%

Quarter to June 2026, against a year earlier

33.72 0.30 +0.90%

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Market cap: $19.4B
P/E: 40.6×
Fwd P/E: 33.1×
Dividend yield: —
F-score: 7/9
Altman Z: 14.49
Beneish M: −2.91
Dividend safety: n/a

Overview Business Profile Earnings & Analysis Segments Valuation Filings

Toast, Inc. (TOST) revenue by segment, product and region

Where the money comes from and where it goes

Fiscal 2025: revenue by segment, and margins
Reportable Segment	6,153	100.00%
Gross margin		25.89%
Operating margin		4.75%
Pre-tax margin		5.62%

Revenue by product or service $m

Line	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Financial technology solutions	5,037 81.86%	4,053 81.71%	3,189 82.51%	2,268 83.05%	1,406 82.46%	644 78.25%	532 80.00%
Subscription services	936 15.21%	706 14.23%	500 12.94%	324 11.86%	169 9.91%	101 12.27%	62 9.32%
Hardware and professional services	180 2.93%	201 4.05%	176 4.55%	139 5.09%	130 7.62%	—	—
Product	—	—	—	—	—	64 7.78%	55 8.27%
Professional Services	—	—	—	—	—	14 1.70%	16 2.41%
Revenue	6,153	4,960	3,865	2,731	1,705	823	665

Gross profit by product or service $m, and margin

	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Financial technology solutions	‡	‡	‡	‡	‡	‡	‡
Hardware and professional services	‡	‡	‡	‡	‡	‡	‡
Subscription services	‡	‡	‡	‡	‡	‡	‡
Product	‡	‡	‡	‡	‡	‡	‡
Professional Services	‡	‡	‡	‡	‡	‡	‡
Gross profit	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡
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	‡	‡	‡	‡	‡	‡	‡

Revenue by segment $m

Line	FY2025	FY2024	FY2023	FY2022
Reportable Segment	6,153 100.00%	4,960 100.00%	3,865 100.00%	2,731 100.00%
Revenue	6,153	4,960	3,865	2,731

Gross profit by segment $m, and margin

	FY2025	FY2024	FY2023	FY2022
Reportable Segment	‡	‡	‡	‡
Gross profit	‡	‡	‡	‡
	‡	‡	‡	‡
	‡	‡	‡	‡
	‡	‡	‡	‡
	‡	‡	‡	‡
	‡	‡	‡	‡
	‡	‡	‡	‡
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	‡	‡	‡	‡

Operating figures as reported in each quarter’s results release or filing

Figure	Quarter	Latest	A year before	Change
Annualized recurring run-rate (ARR)	Q3 FY2026	$2.5B	$2.0B	+24.16%
Gross payment volume (GPV)	Q3 FY2026	$61.8B	$51.5B	+20.00%
Net new locations	Q3 FY2026	8.5K	7.5K	+13.33%
Payments annualized recurring run-rate	Q3 FY2026	$1.2B	$1.0B	+20.71%
Remaining performance obligations	Q2 FY2026	$1.1B	$911.0M	+21.84%
Subscription annualized recurring run-rate	Q3 FY2026	$1.3B	$1.0B	+27.64%
Total locations	Q3 FY2026	189.0K	156.0K	+21.15%

	Q3 FY2026	Q2 FY2026	Q1 FY2026	Q4 FY2025	Q3 FY2025	Q2 FY2025	Q1 FY2025	Q4 FY2024	Q3 FY2024	Q2 FY2024	Q1 FY2024	Q4 FY2023	Q3 FY2023	Q2 FY2023	Q1 FY2023	Q4 FY2022	Q3 FY2022	Q2 FY2022	Q1 FY2022	Q4 FY2021	Q3 FY2021
Annualized recurring run-rate (ARR)	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Gross payment volume (GPV)	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Net new locations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Payments annualized recurring run-rate	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Remaining performance obligations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Subscription annualized recurring run-rate	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
Total locations	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡
	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡	‡

As each company reports them in its 10-K and 10-Q filings, in US dollars. Where a later filing recast a year's segments, the year is shown as recast; a period whose breakdown does not add up to the company's revenue is left out.