Toast, Inc. Class A (TOST) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon. My name is Krista, and I'll be your conference operator today. At this time, I would like to welcome everyone to TOAS First Quarter 2026 Earnings Conference Call. Today's call will be 45 minutes. I'll now turn the call over to Michael Seno, Senior Vice President of Finance. You may begin your conference. Thank you. Welcome to TOAS First Quarter 2026 Earnings Call. TERS CEO, Aman Narang, and CFO, Elena Gomez, will open with prepared remarks, followed by Q&A. Before we start, I'd like to remind everyone that today's call may include forward-looking statements, which are subject to risks and uncertainties and reflect our views and assumptions only as of today. These forward-looking statements include expectations around financial and operational metrics, business and investment strategy, and guidance. Actual results may vary significantly, and we expressly disclaim any obligation to update the forward-looking statements made today. For a detailed discussion of risks, please refer to the cautionary language in today's press release and or SEC filings. During this call, we will discuss certain non-GAAP financial measures, including but not limited to non-GAAP subscription services gross profit and non-GAAP financial technology solutions gross profit, which we refer to collectively as our recurring gross profit streams. These are the basis for our top line guidance. These non-GAAP measures are not intended to be a substitute for our GAAP results. Please refer to our earnings release and SEC filings for detailed reconciliations of these non-GAAP measures to the most comparable GAAP measures. Unless otherwise stated, all references on this call to cost of revenue, gross profit and gross margin, sales and marketing expense, research and development expense, an...