Toast, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $6.2B | $5.0B | $3.9B | $2.7B | $1.7B |
| Cost of revenue | $4.6B | $3.8B | $3.0B | $2.2B | $1.4B |
| Gross profit | $1.6B | $1.2B | $834.0M | $511.0M | $314.0M |
| Research and development | $374.0M | $351.0M | $358.0M | $282.0M | $163.0M |
| Operating expenses | $1.3B | $1.2B | $1.1B | $895.0M | $542.0M |
| Operating income | $292.0M | $16.0M | -$287.0M | -$384.0M | -$228.0M |
| Interest expense | — | — | — | — | $12.0M |
| Pretax income | $346.0M | $22.0M | -$244.0M | -$277.0M | -$490.0M |
| Income tax expense | $4.0M | $3.0M | $2.0M | -$2.0M | -$3.0M |
| Net income | $342.0M | $19.0M | -$246.0M | -$275.0M | -$487.0M |
| Balance Sheet | |||||
| Cash and equivalents | $1.4B | $903.0M | $605.0M | $547.0M | $809.0M |
| Current assets | $2.7B | $2.0B | $1.6B | $1.4B | $1.5B |
| Total assets | $3.1B | $2.4B | $2.0B | $1.8B | $1.7B |
| Current liabilities | $969.0M | $811.0M | $663.0M | $496.0M | $352.0M |
| Total liabilities | $1.0B | $863.0M | $764.0M | $663.0M | $644.0M |
| Stockholders' equity | $2.1B | $1.5B | $1.2B | $1.1B | $1.1B |
| Cash Flow Statement | |||||
| Cash from operations | $661.0M | $360.0M | $135.0M | -$156.0M | $2.0M |
| Depreciation and amortization | $64.0M | $46.0M | $32.0M | $24.0M | $21.0M |
| Stock-based compensation | $242.0M | $253.0M | $277.0M | $228.0M | $140.0M |
| Capital expenditure | $53.0M | $54.0M | $42.0M | $16.0M | $12.0M |
| Free cash flow | $608.0M | $306.0M | $93.0M | -$172.0M | -$10.0M |
| Share repurchases | $107.0M | $56.0M | $0 | $0 | — |
| Impairments | $3.0M | $5.0M | $15.0M | $0 | $0 |
Shares outstanding 580.0M · Free float 74.3%
Annual filing data through FY ended December 31, 2025; float as of July 14, 2026.