Toast, Inc. (TOST) SEC Filings & Earnings Calls
EquiReason read 12 Toast, Inc. SEC filings in the last 12 months. Latest: 8-K on 2026-10-01 — Chief Revenue Officer Jonathan Vassil steps down for planned retirement, effective Dec 31, 2026; remains non-executive employee through Apr 2, 2027. No disagreement cited..
Source: SEC EDGAR filings · figures as of 2026-06-30 · read by EquiReason
- Market cap
- 18.9B
- P/E TTM
- 41.4
- Dividend yield
- —
- 52-week
- —
- Next earnings
- 3 Nov, in 10 days
Every filing, read
last 12 months · SECWhat happened, the numbers inside, guidance and risks. The original is one click away.
1 Oct 20268-K · 5.02Chief Revenue Officer Jonathan Vassil steps down for planned retirement, effective Dec 31, 2026; remains non-executive employee through Apr 2, 2027. No disagreement cited.open
Risks flagged
Loss of a key revenue executive could temporarily impact sales leadership and customer relationships, though retirement is planned and orderly.
“CRO departure effective Dec 31, 2026; no disagreement cited; transition period through Apr 2, 2027.”
5 Aug 202610-QToast reported strong Q2 2026 results with revenue up 23% YoY, net income nearly doubling, and ARR growing 25%.earningsopen
Figures in the filing · each found in the filing text
| Gross Payment Volume (GPV) · Q2-2026 | $60.70B | +22% y/y |
| Annualized Recurring Run-Rate (ARR) · 2026-06-30 | $2.41B | +25% y/y |
| Revenue · Q2-2026 | $1.91B | +23% y/y |
| Net Income · Q2-2026 | $154M | +93% y/y |
| Adjusted EBITDA · Q2-2026 | $221M | +37% y/y |
| Free Cash Flow · H1-2026 | $245M | -12% y/y |
| Subscription Services Revenue · Subscription services · Q2-2026 | $290M | +28% y/y |
| Financial Technology Solutions Revenue · Financial technology solutions · Q2-2026 | $1.57B | +23% y/y |
Risks flagged
Tariff input cost pressure
“Total costs of revenue increased by 20% for the three and six months ended June 30, 2026, compared to the same periods in 2025. The increase was primarily driven by higher financial technology solutions costs associated with increased gross payment volume, offset by a one-time benefit of approximately $10 million related to tariff refunds.” · word for word
4 Aug 20268-K · 2.02ARR $2.40B (+25% y/y); Total Locations 180,000 (+22% y/y); Gross Payment Volume $60.70B (+22% y/y); Guidance: Full-year non-GAAP subscription gross profit growth raised to 23%-25% from 21%-23%, adjusted EBITDA raised to $805-$825M from $790earningsopen
Figures in the filing · each found in the filing text
| ARR · Q2-2026 | $2.40B | +25% y/y |
| Total Locations · Q2-2026 | 180,000 | +22% y/y |
| Gross Payment Volume · Q2-2026 | $60.70B | +22% y/y |
| Net Income · Q2-2026 | $154M | |
| Adjusted EBITDA · Q2-2026 | $221M | |
| Free Cash Flow · Q2-2026 | $130M | |
| Non-GAAP Subscription Services and Financial Technology Solutions Gross Profit · Q2-2026 | $595M | +28% y/y |
Guidance
Full-year non-GAAP subscription gross profit growth raised to 23%-25% from 21%-23%, adjusted EBITDA raised to $805-$825M from $790-$810M
Raised full-year guidance for recurring gross profit and adjusted EBITDA, reflecting strong momentum.
8 May 202610-QRevenue $1.63B (+22% y/y); Net Income $126M (+125% y/y); Adjusted EBITDA $179M (+35% y/y)open
Figures in the filing · each found in the filing text
| Revenue · Q1-2026 | $1.63B | +22% y/y |
| Net Income · Q1-2026 | $126M | +125% y/y |
| Adjusted EBITDA · Q1-2026 | $179M | +35% y/y |
| Free Cash Flow · Q1-2026 | $115M | +67% y/y |
| Annualized Recurring Run-Rate · Q1-2026 | $2.15B | +26% y/y |
| Gross Payment Volume · Q1-2026 | $51.30B | +22% y/y |
| Subscription Services Revenue · Subscription Services · Q1-2026 | $268M | +28% y/y |
| Financial Technology Solutions Revenue · Financial Technology Solutions · Q1-2026 | $1.32B | +22% y/y |
| Operating Cash Flow · Q1-2026 | $132M | +67% y/y |
Guidance
Strong revenue and profit growth; no explicit guidance but momentum is positive.
Risks flagged
Share Repurchase Execution Risk
“Aggressive buyback reduces cash reserves; $327M repurchased in Q1.”
7 May 20268-K · 2.02Annualized Recurring Run-Rate (ARR) $2.20B (+26% y/y); Total Locations 171,000 (+22% y/y); Gross Payment Volume (GPV) $51.30B (+22% y/y); Guidance: FY2026 Non-GAAP subscription gross profit growth 21-23% (up from 20-22%); Adj. EBITDA $790-8earningsopen
Figures in the filing · each found in the filing text
| Annualized Recurring Run-Rate (ARR) · total · Q1-2026 | $2.20B | +26% y/y |
| Total Locations · total · Q1-2026 | 171,000 | +22% y/y |
| Gross Payment Volume (GPV) · total · Q1-2026 | $51.30B | +22% y/y |
| Subscription services and financial technology solutions gross profit · total · Q1-2026 | $520M | +32% y/y |
| Operating Income · total · Q1-2026 | $110M | |
| Net Income · total · Q1-2026 | $126M | |
| Adjusted EBITDA · total · Q1-2026 | $179M | |
| Free Cash Flow · total · Q1-2026 | $115M | |
| Net cash provided by operating activities · total · Q1-2026 | $132M | |
| Diluted earnings per share · total · Q1-2026 | $0.20 |
Guidance
FY2026 Non-GAAP subscription gross profit growth 21-23% (up from 20-22%); Adj. EBITDA $790-810M (up from $775-795M)
Full-year 2026 guidance raised for both subscription gross profit growth and Adjusted EBITDA, reflecting strong momentum and confidence.
Risks flagged
Guidance raise is modest; competition in restaurant tech could pressure growth.
“FY2026 Adj. EBITDA guidance raised from $775-795M to $790-810M, a relatively small increase.”
23 Apr 2026DEF 14AAnnual proxy statement filed, detailing executive compensation, governance, and shareholder proposals.open
Figures in the filing · each found in the filing text
| GAAP subscription services and financial technology solutions gross profit · subscription_services_and_financial_technology_solutions · FY2025 | $1.82B | +33% y/y |
| Non-GAAP subscription services and financial technology solutions gross profit · subscription_services_and_financial_technology_solutions · FY2025 | $1.89B | +33% y/y |
| GAAP net income · FY2025 | $342M | +1700% y/y |
| Adjusted EBITDA · FY2025 | $633M | +70% y/y |
| Locations · FY2025 | 164,000 | +22% y/y |
| Net new locations · FY2025 | 30,000 | |
| Revenue - Subscription services · subscription_services · FY2025 | $936M | +33% y/y |
| Revenue - Financial technology solutions · financial_technology_solutions · FY2025 | $5.04B | +24% y/y |
Risks flagged
Competition
“Standard risk factor language, but no specific competitive threat quantified.”
Dependence on restaurant industry
“The company's performance is tied to the health of the restaurant industry.”
18 Feb 202610-KRevenue $6.15B (+24% y/y)open
Figures in the filing · each found in the filing text
| Revenue · FY2025 | $6.15B | +24% y/y |
Risks flagged
SMB Customer Concentration
“A majority of our customers are SMBs... SMBs are also typically more susceptible to the adverse effects of policy changes and macroeconomic conditions including those caused by fluctuating inflation levels and interest rates.” · word for word
Competition
“The market is competitive and evolving rapidly. We compete with a range of providers, including cloud-based point of sale platforms, legacy point of sale platform payments solutions...” · word for word
12 Feb 20268-K · 2.02, 8.01Annualized Recurring Run-Rate (ARR) $2.00B (+26% y/y); Total Locations 164,000 (+22% y/y); Gross Payment Volume (GPV) $51.40B (+22% y/y); Guidance: Q1 2026 Non-GAAP subscription gross profit $505-515M; FY2026 $2,270-2,300M; Adjusted EBITDAearningsopen
Figures in the filing · each found in the filing text
| Annualized Recurring Run-Rate (ARR) · FY2025 | $2.00B | +26% y/y |
| Total Locations · FY2025 | 164,000 | +22% y/y |
| Gross Payment Volume (GPV) · Q4-2025 | $51.40B | +22% y/y |
| GAAP Net Income · Q4-2025 | $101M | +206% y/y |
| Adjusted EBITDA · Q4-2025 | $163M | +47% y/y |
| Free Cash Flow · Q4-2025 | $178M | +33% y/y |
| Non-GAAP Subscription Services and Financial Technology Solutions Gross Profit · Q4-2025 | $502M | +28% y/y |
Guidance
Q1 2026 Non-GAAP subscription gross profit $505-515M; FY2026 $2,270-2,300M; Adjusted EBITDA Q1 $160-170M, FY $775-795M
Strong guidance with 20-22% recurring gross profit growth and expanding EBITDA margins; confident in scaling to $5-10B ARR.
5 Nov 202510-QToast reported strong Q3 2025 results with revenue up 25% YoY, ARR up 30%, and Adjusted EBITDA nearly doubling, indicating accelerating growth and profitability.earningsopen
Figures in the filing · each found in the filing text
| Gross Payment Volume (GPV) · Q3-2025 | $51.50B | +24% y/y |
| Annualized Recurring Run-Rate (ARR) · 2025-09-30 | $2.02B | +30% y/y |
| Revenue · Q3-2025 | $1.63B | +25% y/y |
| Subscription services revenue · Subscription services · Q3-2025 | $244M | +29% y/y |
| Financial technology solutions revenue · Financial technology solutions · Q3-2025 | $1.34B | +26% y/y |
| Adjusted EBITDA · Q3-2025 | $176M | +56% y/y |
| Free cash flow · 9M-2025 | $430M | +150% y/y |
| Net income · Q3-2025 | $105M | +88% y/y |
Risks flagged
Customer concentration and economic sensitivity
“Our ARR may decline or fluctuate as a result of a number of factors, including customers’ satisfaction with our platform, pricing, competitive offerings, economic conditions, or overall changes in our customers’ and their guests’ spending levels.” · word for word
4 Nov 20258-K · 2.02Annualized Recurring Run-Rate (ARR) $2.00B (+30% y/y); Total Locations 156,000 (+23% y/y); Gross Payment Volume (GPV) $51.50B (+24% y/y); Guidance: Full year 2025 adjusted EBITDA raised to $610-620M from $565-585M; non-GAAP gross profit groearningsopen
Figures in the filing · each found in the filing text
| Annualized Recurring Run-Rate (ARR) · Q3-2025 | $2.00B | +30% y/y |
| Total Locations · Q3-2025 | 156,000 | +23% y/y |
| Gross Payment Volume (GPV) · Q3-2025 | $51.50B | +24% y/y |
| Net income · Q3-2025 | $105M | +88% y/y |
| Adjusted EBITDA · Q3-2025 | $176M | +56% y/y |
| Free Cash Flow · Q3-2025 | $153M | +58% y/y |
Guidance
Full year 2025 adjusted EBITDA raised to $610-620M from $565-585M; non-GAAP gross profit growth raised to 32% from 28-29%
Raised full year guidance on both gross profit and adjusted EBITDA reflecting strong momentum
Risks flagged
Competition in restaurant technology space; dependence on restaurant industry health
“Toast operates in competitive restaurant technology market”
Toast, Inc. — questions
- What did Toast, Inc. file recently?
- 12 SEC filings in the last 12 months. Latest: 8-K on 2026-10-01 — Chief Revenue Officer Jonathan Vassil steps down for planned retirement, effective Dec 31, 2026; remains non-executive employee through Apr 2, 2027. No disagreement cited.
Every figure on this page comes from Toast, Inc.'s own SEC filings — see them on SEC EDGAR. Price data is licensed and shown only inside the product.
How these figures are read: methodology · EquiReason.