Toast, Inc. earnings

Toast delivered a sharply more profitable second quarter of 2026. Revenue rose 23.1% to $1.91 billion. Gross profit climbed 31.6% to $516 million. Operating income reached $152 million, up 90.0%. Net income was $154 million, up 92.5%. Diluted earnings per share came in at $0.26, up 100.0%.

Toast closed the first quarter of fiscal 2026 with growth on every major line. Revenue rose 21.9% to $1.63 billion from $1.34 billion in the prior-year quarter. Gross profit grew 29.2% to $447 million, faster than revenue, and operating income climbed 155.8% to $110 million.

Toast closed fiscal 2025 with a strong fourth quarter. Revenue for FY2025 Q4 was $1.63 billion, up 22.0% from FY2024 Q4. Gross profit was $423 million, up 27.0%. Operating income reached $85 million, up 165.6%. Net income was $101 million, up 215.6%. Gross margin improved to 25.9%, up 1.0 percentage point.

Toast's fiscal 2025 third quarter showed broad GAAP profitability gains. Revenue was $1.63 billion, up 25.1% year over year. Gross profit rose 34.2% to $432 million. Gross margin expanded to 26.5%, up 1.8 percentage points. Operating income reached $84 million, up 147.1%. Net income was $105 million, up 87.5%.

Toast posted a much stronger second quarter of 2025, with revenue of $1.55 billion, up 24.8% from the prior-year quarter. Gross profit rose to $392 million, up 37.1%, and gross margin expanded to 25.3% from 23.0%.

Toast opened the year with a much cleaner profit profile. Revenue was $1.34 billion in the first quarter, up 24.4% from the prior-year quarter. Gross profit rose 39.0% to $346 million. Operating income was $43 million, up from a loss in the prior-year quarter.

Toast closed fiscal 2024 with strong top-line growth and its first full year of GAAP profitability. Fourth quarter revenue was $1.34 billion, up 29.2% from the prior-year quarter. Gross profit rose 47.3% to $333 million. Gross margin improved to 24.9%, a gain of 3.1 percentage points.

Toast reported $1.30 billion of revenue for the quarter ended September 30, 2024, up 26.5% from the prior-year quarter, while gross payment volume rose 24% to $41.7 billion. The company added roughly 7,000 net new locations and ended the period with nearly 127,000 locations, up 28% year over year.

Toast reported a profitable second quarter of fiscal 2024, with total revenue of $1.24 billion, up 27.0% from the prior-year quarter. Gross profit rose 37.5% to $286 million. Gross margin was 23.0%, up 1.8 percentage points from a year earlier.

Toast reported $1.08 billion of revenue for the quarter ended March 31, 2024, up 31.3% from $819.00 million a year earlier. Gross profit rose 43.1% to $249.00 million, and gross margin reached 23.2%, up 1.9 percentage points from 21.2%. The bottom line moved the wrong way.

Toast closed fiscal 2023 with a fourth quarter that paired rapid top-line growth with better margins. Revenue was $1.04 billion, up 34.9% from the prior-year quarter. Gross profit rose 43.0% to $226 million. Gross margin reached 21.8%, up 1.2 percentage points. The operating loss narrowed to $56 million.

Toast's fiscal 2023 third quarter, ended September 30, 2023, showed steady top-line growth and better profitability than a year earlier. Revenue was $1,032 million, up 37.2% from $752 million in the prior-year quarter.

Toast closed the second quarter of fiscal 2023 with revenue of $978 million, up 44.9% year over year. Gross profit reached $208 million, up 84.1%, and gross margin was 21.3%, up 4.5 percentage points. The top line and gross profit gains came as the company added a record number of restaurant locations.

Toast reported first quarter fiscal 2023 revenue of $819.0 million, up 53.1% from $535.0 million in the prior-year quarter. Gross profit of $174.0 million rose 95.5% from $89.0 million, and gross margin rose to 21.2% from 16.6%. Non-GAAP gross profit reached $189 million, up 87%. Location growth did the heavy lifting.

Toast closed FY2022 with a fourth quarter that paired strong top-line growth with continued losses. Revenue for the quarter ended December 31, 2022 was $768 million, up 50% year over year. Gross profit rose to $158 million, up 116%, as gross margin expanded to 20.6%, a gain of 6.3 percentage points.

Toast closed the September 2022 quarter with revenue of $752 million, up 55% year over year, and nine-month revenue of $1,963 million, up 65%. Growth came from more live locations and deeper product adoption at existing customers.

Toast reported second quarter fiscal 2022 revenue of $675.0 million, up 58.5% from $426.0 million in the prior-year quarter. Six-month revenue reached $1.21 billion, up 71.1% from $707.0 million in the first half of 2021. Subscription services revenue doubled year over year.

Toast reported first quarter 2022 revenue of $535 million, up 90% from the prior-year quarter. Gross profit rose 29% to $89 million. The company added more than 5,000 net new locations, a record for a first quarter, and total locations reached approximately 62,000, nearly 45% higher than a year earlier.

Toast closed fiscal 2021 with rapid top-line growth and a still-negative bottom line. Revenue was $514.9 million in the fourth quarter, up 112.4% from the prior-year quarter. For the full year, revenue was $1.70 billion, up 107.2%. The demand came from restaurants adopting more of the Toast platform.

Toast reported third quarter fiscal 2021 revenue of $486.4 million, up 105% from the prior-year quarter. Gross profit was $83.3 million, up 72%. Non-GAAP gross profit was $88.5 million, up 75%. Gross margin was 17.1%, down from the prior-year quarter. The scale metrics moved faster.