Business
Toast Announces Fourth Quarter and Full Year 2025 Financial Results
BOSTON, February 12, 2026--Toast Announces Fourth Quarter and Full Year 2025 Financial Results
About this update from Toast, Inc.
[{"type":"text","content":"Added a record 30,000 net locations in 2025, including approximately 8,000 in the fourth quarterAnnualized recurring run-rate (ARR) increased 26% to over $2.0 billion as of December 31, 2025Fourth quarter net income was $101 million and Adjusted EBITDA was $163 millionToast’s Board of Directors authorized a $500 million increase to share repurchase program","length":361,"tagName":"p","attribs":{}},{"type":"text","content":"BOSTON, February 12, 2026--(BUSINESS WIRE)--Toast (NYSE: TOST), the all-in-one digital technology platform built for hospitality, today reported financial results for the fourth quarter and full year ended December 31, 2025.","length":224,"tagName":"p"},{"type":"text","content":""2025 was a strong year for Toast, adding a record 30,000 net locations, growing recurring gross profit1 33%, and delivering Adjusted EBITDA margins of 34%," said Toast CEO Aman Narang. "Our results demonstrate the power of our focused strategy and consistent execution. We have momentum across the business — we’re scaling our core restaurant business, accelerating growth in new markets, increasing platform adoption, and investing with focus. We’re confident we’re building a platform that can serve many multiples of our current locations and scale to $5 billion and $10 billion in ARR over the next decade."","length":632,"tagName":"p"},{"type":"text","content":"Financial Highlights for the Fourth Quarter of 2025","length":51,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"ARR as of December 31, 2025 was over $2.0 billion, up 26% year over year.","length":73,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Total Locations increased 22% year over year to approximately 164,000.","length":70,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"Gross Payment Volume (GPV) increased 22% year over year to $51.4 billion.","length":73,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"GAAP subscription services and financial technology solutions gross profit was up 29% year over year to $487 million. Non-GAAP subscription services and financial technology solutions gross profit grew 28% year over year to $502 million.","length":237,"tagName":"p","attribs":{}}]},{"val":[{"type":"text","content":"GAAP income from operations was $85 million in Q4 2025 compared to $32 ...