Toast, Inc.
pos.toasttab.comWhat Do They Do?
Provides restaurants and food and beverage retailers with integrated software, payment processing and restaurant hardware.
10-K for FY2025, filed Feb 18, 2026Toast, Inc., which we refer to as Toast, we, or the Company, is a cloud-based, all-in-one digital technology platform purpose-built for the…View ↗
Toast’s all-in-one technology platform is purpose-built to support the operational needs of restaurants and food and beverage retailers…View ↗
Toast provides a fully-integrated platform that enables our customers to securely accept and process payments, while also providing…View ↗
Toast's food and beverage retail offering helps restaurants, convenience stores, bottle shops, and grocery stores of all shapes, sizes, and…View ↗
How Do They Make Money?
Most of Toast's revenue comes from payment processing: restaurants pay a percentage of processed amounts plus a fee per transaction, earned as payments are authorized and submitted. They pay software-access fees over contract terms; hardware is invoiced at shipment and installation services when complete, and Toast also earns fees for originating and servicing customer loans.
10-K for FY2025, filed Feb 18, 2026Financial technology solutions revenue includes transaction-based payment processing services for customers who are charged a transaction…View ↗
Subscription services revenue is generated from fees charged to customers for access to our software applications. Subscription services…View ↗
Hardware revenue is generated from the sale of terminals, tablets, handhelds, and related devices and accessories, net of estimated…View ↗
Professional services revenue is generated from fees charged to customers for installation services, including business process mapping…View ↗
Financial technology solutions revenue also includes fees earned from marketing and servicing loans to customers through our wholly-owned…View ↗
-
10-K for FY2025, filed Feb 18, 2026
FY2025 revenue by product or service ↗
$6.2B
-
10-K for FY2025, filed Feb 18, 2026
$6.2B ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Subscription services
Recurring
10-K for FY2025, filed Feb 18, 2026 |
15%
FY2022: 12%
|
Subscription services, FY2025
$936M Sources
|
Recurring |
|
Financial technology solutions
Usage-based
10-K for FY2025, filed Feb 18, 2026 |
82%
FY2022: 83%
|
Financial technology solutions, FY2025
$5B Sources
|
Usage-based |
|
Hardware and professional services
Sold outright
|
2.9%
FY2022: 5.1%
|
Hardware and professional services, FY2025
$180M Sources
|
Sold outright |
Who Are Their Customers?
Customers include small and midsized restaurants, larger restaurant groups, and food and beverage retailers. Toast reaches operators with local sales teams and marketing, offering options from a single point-of-sale terminal to a multi-product setup.
10-K for FY2025, filed Feb 18, 2026Over the last several years, consumer preference towards omnichannel commerce and digital engagement options has accelerated. With food…View ↗
The food and beverage industry is a local industry. Operators purchase everything from food and alcohol to equipment and table linens from…View ↗
We start with in-market sales teams that are deeply familiar with, and trusted by, the local community. This deep knowledge of the local…View ↗
To generate and capture demand we invest heavily in the primary discovery channels for restaurant and food and beverage retail operators.…View ↗
In addition, while a majority of our current customer base consists of small- and medium-sized businesses, or SMBs, we continue to pursue…View ↗
Do Revenues Turn Into Profits?
Yes. It kept 6 cents of every revenue dollar as net income in FY2025 and turned 10 cents into free cash flow.
10-K for FY2025, filed Feb 18, 2026
$292MView ↗
10-K for FY2025, filed Feb 18, 2026
$342MView ↗
10-K for FY2025, filed Feb 18, 2026
$608MView ↗
How Are They Changing?
10-Q for Q2 FY2026, filed Aug 5, 2026
Open tableView ↗
Growing. Revenue grew 3.6x in 4 years, from $1.7B in FY2021 to $6.2B in FY2025, about 38% a year.
Expanded customer types
The latest report describes the platform as serving food and beverage retailers, including convenience stores, bottle shops and grocery stores; the older report framed its platform around restaurant operations.
10-K for FY2022, filed Mar 1, 2023 10-K for FY2025, filed Feb 18, 2026
Loading...
