TOST

EX-99.1

2 tost-20260630xexhibit991.htm

EX-99.1

Document

Exhibit 99.1

Toast Announces Second Quarter 2026 Financial Results

Added approximately 9,500 net new Locations in second quarter

Annualized recurring run-rate (ARR) grew 25% to $2.4 billion as of June 30, 2026

Net income was $154 million and Adjusted EBITDA1 was $221 million in second quarter

Repurchased 19 million shares for $486 million year-to-date through June 30, 2026

BOSTON, MA – August 4, 2026 – Toast (NYSE: TOST), the global technology platform built for restaurants and retail businesses, today reported financial results for the second quarter ended June 30, 2026.

“The first half of 2026 reflects the strength we have across the business. In Q2, recurring gross profit streams2 grew 28%, GAAP Operating Income margins expanded to 26%, and we added a record 9,500 net locations," said Toast CEO Aman Narang. "We welcomed a breadth of new customers this quarter, from enterprise hospitality partners like BWH® Hotels, parent company to Best Western, to well-loved bubble tea chain Kung Fu Tea, to an expanded TGI Fridays partnership in the UK. Toast IQ Grow is the fastest-growing new offering we've ever launched, and it's a clear signal of how we can use AI to transform what Toast can do for customers. We have incredible momentum across the business, and I have never been more confident in the long term opportunity.”

Financial Highlights for the Second Quarter of 2026

•ARR increased 25% year over year to $2.4 billion as of June 30, 2026.

•Total Locations increased 22% year over year to approximately 180,000.

•Gross Payment Volume (GPV) increased 22% year over year to $60.7 billion.

•Subscription services and financial technology solutions gross profit grew 31% year over year to $585 million. Non-GAAP subscription services and financial technology solutions gross profit grew 28% year over year to $595 million.

•Operating income was $152 million in Q2 2026 compared to $80 million in Q2 2025.

•Net income was $154 million in Q2 2026 compared to $80 million in Q2 2025. Adjusted EBITDA was $221 million in Q2 2026, inclusive of a one-time benefit of approximately $10 million from tariff refunds, compared to $161 million in Q2 2025.

•Diluted earnings per share was $0.26 in Q2 2026 compared to $0.13 in Q2 2025.

•Net cash provided by operating activities was $144 million and Free Cash Flow was $130 million in Q2 2026. These compared to net cash provided by operating activities of $223 million and Free Cash Flow of $208 million in Q2 2025.

Percentages may not tie due to rounding. For more information on the non-GAAP financial measures and key metrics discussed in this press release, please see the sections titled “Key Business Metrics” and “Non-GAAP Financial Measures,” as well as the reconciliations of non-GAAP financial measures to their nearest comparable GAAP financial measures at the end of this press release.

Outlook3

For the third quarter ending September 30, 2026, Toast expects to report:

•Non-GAAP subscription services and financial technology solutions gross profit in the range of $615 million to $625 million (22-24% growth compared to Q3 2025).

•Adjusted EBITDA in the range of $210 million to $220 million.

1 Q2 2026 adjusted EBITDA included a one-time benefit of approximately $10 million related to tariff refunds.

2 Toast considers Non-GAAP subscription services and financial technology solutions gross profit to be its recurring gross profit streams.

3 A reconciliation of these forward looking Non-GAAP measures to the corresponding GAAP measure is not available without unreasonable effort because of the inherent difficulty of accurately forecasting the occurrence and financial impact of the various adjusting items necessary for such reconciliations that have not yet occurred, are out of our control, or cannot be reasonably predicted, including but not limited to the change in fair value of our warrant liability and stock-based compensation. For the same reasons, the Company is unable to assess the probable significance of the unavailable information, which could have a material impact on its future GAAP financial results.

For the full year ending December 31, 2026, Toast expects to report:

•Non-GAAP subscription services and financial technology solutions gross profit in the range of $2,325 million to $2,355 million (23%-25% growth compared to 2025, up from 21-23% growth).

•Adjusted EBITDA in the range of $805 million to $825 million (up from $790 million to $810 million). This outlook reflects our strategic decision to re-invest the $10 million tariff refund received in Q2.

The outlook provided above constitutes forward-looking information within the meaning of applicable securities laws and is based on a number of assumptions and subject to a number of risks. See cautionary note regarding “Forward-looking Statements” in this press release.

Recent Business Highlights

•BWH® Hotels, the parent company of Best Western® Hotels

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tost-202602100001650164FALSE00016501642026-02-102026-02-10

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT

TO SECTION 13 or 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): February 10, 2026

Toast, Inc. (Exact name of registrant as specified in its charter)

Delaware (State or other jurisdiction of Incorporation) 001-40819 (Commission File Number) 45-4168768 (I.R.S. Employer Identification No.)

333 Summer Street Boston, Massachusetts 02210

(Address of principal executive offices) (Zip code)

(617) 297-1005

(Registrant's telephone number, including area code)

N/A (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class Trading Symbol Name of each exchange on which registered

Class A common stock, par value $0.000001 per shareTOSTNew York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 or Rule 12b-2 of the Securities Exchange Act of 1934. Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 - Results of Operations and Financial Condition. On February 12, 2026, Toast, Inc. (the “Company”) announced its financial results for the fiscal quarter and fiscal year ended December 31, 2025. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.

The information in this Current Report on Form 8-K and Exhibit 99.1 attached hereto is intended to be furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

Item 8.01. Other Events

On February 10, 2026, the Company’s board of directors (the “Board”) approved an increase of $500 million to the Company’s previously authorized share repurchase program for the repurchase of shares of the Company’s Class A common stock, par value $0.000001 per share (the “Class A Common Stock”). The repurchase program has no expiration date, does not obligate the Company to acquire any particular amount of the Company’s Class A Common Stock, and it may be suspended at any time at the Company’s discretion.

Repurchases may be made from time to time through open market repurchases subject to market conditions, applicable legal requirements and other relevant factors. Open market repurchases may be structured to occur in accordance with the requirements of Rule 10b-18 of the Exchange Act. The Company may also, from time to time, enter into Rule 10b5-1 plans to facilitate repurchases of its shares under this authorization. The timing and actual number of shares repurchased may depend on a variety of factors, including price, general business and market conditions, and alternative investment opportunities.

Item 9.01 - Financial Statements and Exhibits (d) The following exhibits are being filed herewith:

Exhibit No.Description

99.1 Press Release issued by the registrant on February 12, 2026, furnished herewith.

104 Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Date: February 12, 2026

TOAST, INC.

By: /s/ Elena Gomez Name: Elena Gomez Title: President, Chief Financial Officer (Principal Financial and Principal Accounting Officer)