Toast, Inc. (TOST) Financial Statements

Executive TeamFinancials
SegmentsShareholders

Toast financial statements at a glance

Toast reported revenue of $6.15 billion for fiscal year 2025 (ended December 31, 2025), up 24.1% from fiscal year 2024. Net income was $342.00 million, a net margin of 5.6%.

At the end of fiscal year 2025 it had total assets of $3.15 billion, total liabilities of $1.02 billion and shareholders' equity of $2.12 billion, with cash and short-term investments of $1.99 billion and total debt of $20.00 million.

Its operations brought in $661.00 million of cash; capital spending was $53.00 million, leaving free cash flow of $608.00 million.

The tables below show the income statement, balance sheet and cash flow statement; the key figures of the last 5 fiscal years are at the bottom of the page.

Figures from company filings, in USD; latest fiscal year ended December 31, 2025.

TOST logo

Toast, Inc.

TOSTUnited States
Discretionary Consumer Products
USD (Local)

Income Statement

Annual • USD

Total Revenue
6.15B
Prev Year: 4.96B
YoY: +24.1%
Operating Revenue
6.15B
Prev Year: 4.96B
YoY: +24.1%
Tax Effect of Unusual Items
-108.0K
Prev Year: -10.93M
YoY: +99.0%
Average Dilution Earnings
-3.00M
Prev Year: 0
Restructuring and Mergers Acquisition
12.00M
Prev Year: 46.00M
YoY: -73.9%
Cost of Revenue
4.56B
Prev Year: 3.77B
YoY: +21.0%
Gross Profit
1.59B
Prev Year: 1.19B
YoY: +33.9%
Operating Expense
1.29B
Prev Year: 1.13B
YoY: +14.3%
Selling General and Administrative
915.00M
Prev Year: 777.00M
YoY: +17.8%
General and Administrative Expense
344.00M
Prev Year: 307.00M
YoY: +12.1%
Other General and Administrative
344.00M
Prev Year: 307.00M
YoY: +12.1%
Selling and Marketing Expense
571.00M
Prev Year: 470.00M
YoY: +21.5%
Research and Development
374.00M
Prev Year: 351.00M
YoY: +6.6%
Operating Income
304.00M
Prev Year: 62.00M
YoY: +390.3%
Net Non Operating Interest Income Expense
51.00M
Prev Year: 42.00M
YoY: +21.4%
Non-operating Interest Income
51.00M
Prev Year: 42.00M
YoY: +21.4%
Other Income Expense
-9.00M
Prev Year: -82.00M
YoY: +89.0%
Gain on Sale of Securities
3.00M
Prev Year: -49.00M
YoY: +106.1%
Special Income Charges
-12.00M
Prev Year: -46.00M
YoY: +73.9%
Pre-tax Income
346.00M
Prev Year: 22.00M
YoY: +1472.7%
Provision for Income Taxes
4.00M
Prev Year: 3.00M
YoY: +33.3%
Net Income Common Stockholders
342.00M
Prev Year: 19.00M
YoY: +1700.0%
Net Income
342.00M
Prev Year: 19.00M
YoY: +1700.0%
Net Income Including Non-Controlling Interests
342.00M
Prev Year: 19.00M
YoY: +1700.0%
Net Income from Continuing Operations
342.00M
Prev Year: 19.00M
YoY: +1700.0%
Diluted NI Available to Com Stockholders
339.00M
Prev Year: 19.00M
YoY: +1684.2%
Total Operating Income as Reported
292.00M
Prev Year: 16.00M
YoY: +1725.0%
Total Expenses
5.85B
Prev Year: 4.90B
YoY: +19.4%
Basic EPS
-
Net Income from Continuing and Discontinued Operation
342.00M
Prev Year: 19.00M
YoY: +1700.0%
Diluted EPS
-
Normalized Income
350.89M
Prev Year: 103.08M
YoY: +240.4%
Weighted Average Shares (basic)
-
Interest Income
51.00M
Prev Year: 42.00M
YoY: +21.4%
Weighted Average Shares (diluted)
-
Net Interest Income
51.00M
Prev Year: 42.00M
YoY: +21.4%
EBIT
304.00M
Prev Year: 62.00M
YoY: +390.3%
EBITDA
368.00M
Prev Year: 108.00M
YoY: +240.7%
Reconciled Cost of Revenue
4.56B
Prev Year: 3.77B
YoY: +21.0%
Reconciled Depreciation
64.00M
Prev Year: 46.00M
YoY: +39.1%
Net Income from Continuing Operation Net Minority Interest
342.00M
Prev Year: 19.00M
YoY: +1700.0%
Interest Expense
-
Total Unusual Items Excluding Goodwill
-9.00M
Prev Year: -95.00M
YoY: +90.5%
Total Unusual Items
-9.00M
Prev Year: -95.00M
YoY: +90.5%
Normalized EBITDA
377.00M
Prev Year: 203.00M
YoY: +85.7%
Tax Rate for Calcs
0.012
Prev Year: 0
Values in USD

Toast key figures by fiscal year

FY2025FY2024FY2023FY2022FY2021
Revenue$6.2B$5.0B$3.9B$2.7B$1.7B
Gross profit$1.6B$1.2B$834.0M$511.0M$314.0M
Operating income$304.0M$62.0M-$287.0M-$384.0M-$228.0M
Net income$342.0M$19.0M-$246.0M-$275.0M-$487.0M
Diluted EPS––-$0.47-$0.72-$1.68
Total assets$3.1B$2.4B$2.0B$1.8B$1.7B
Total liabilities$1.0B$863.0M$764.0M$663.0M$644.0M
Shareholders' equity$2.1B$1.5B$1.2B$1.1B$1.1B
Cash and short-term investments$2.0B$1.4B$1.1B$1.0B$1.3B
Total debt$20.0M$24.0M$33.0M$94.0M$99.0M
Operating cash flow$661.0M$360.0M$135.0M-$156.0M$2.0M
Capital spending$53.0M$54.0M$42.0M$33.0M$19.0M
Free cash flow$608.0M$306.0M$93.0M-$189.0M-$17.0M

In USD. Fiscal years as reported by the company; statements on this page go back to fiscal year 2019.

Questions and answers

What was Toast's revenue in fiscal year 2025?

$6.15 billion, up 24.1% from $4.96 billion in fiscal year 2024.

How much profit does Toast make?

Toast reported net income of $342.00 million for fiscal year 2025 (5.6% of revenue); operating income was $304.00 million.

How much cash and debt does Toast have?

At the end of fiscal year 2025: cash and short-term investments of $1.99 billion and total debt of $20.00 million.

What is Toast's free cash flow?

$608.00 million in fiscal year 2025 (operating cash flow of $661.00 million minus capital spending of $53.00 million).

MoreToast stock overviewToast executive teamToast shareholdersToast revenue by segment
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Disclaimer: This analysis is for informational and educational purposes only and does not constitute financial, investment, tax, or legal advice. Data may be incomplete, delayed, or contain inaccuracies. Consult with a qualified financial advisor before making any investment decisions.
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