Toast reports Q2 EPS adjusted EBITDA $161M vs. $92M last year

Reports Q2 revenue $1.55B, consensus $1.52B. ARR increased 31% year over year to $1.9 billion as of June 30, 2025. Total Locations increased 24% year over year to approximately 148,000. Gross Payment Volume increased 23% year over year to $49.9 billion. “I’m proud of the team for delivering another strong quarter – we added a record 8,500 net new locations, recurring gross profit1 grew 35% year over year, and Adjusted EBITDA scaled to $161 million. Both our core U.S. restaurant business and our new market segments performed very well, with enterprise, international, and food and beverage retail passing 10,000 live locations. We are thrilled to welcome another 1,300+ unit chain to Toast (TOST) as we continue to move upmarket and our international team has launched our first customer in Australia. We are also excited to announce the release of Toast Go(R) 3, our most powerful handheld yet, as well as a partnership with American Express aimed at delivering personalized experiences and expanding guest reach to help our customers provide better hospitality and grow. We’re building a platform to help local businesses thrive and I’ve never been more confident in our ability to deliver on that ambition and lead this industry,” said Aman Narang, Toast CEO and Co-Founder.