The earnings call reflected a strong positive sentiment highlighted by significant growth in new locations, international expansion, and strategic partnerships. The company's financial performance exceeded expectations, and product innovations were well-received. However, slight challenges were noted in GPV per location, tariff expenses, and nonpayment fintech solutions.

Company Guidance -

Q3 2025

During Toast's second quarter 2025 earnings call, the company reported strong financial performance and provided guidance for future growth. Toast added a record 8,500 net new locations, bringing the total to approximately 148,000 locations. Recurring gross profit grew by 35%, and adjusted EBITDA reached $161 million. The company also achieved a GAAP operating income of $80 million. For the third quarter of 2025, Toast expects total subscription and fintech gross profit to grow between 23% and 26% year-over-year, with adjusted EBITDA projected to be between $140 million and $150 million. Full-year guidance was raised, with expected fintech and subscription gross profit growth of 29% and adjusted EBITDA of $575 million, resulting in a margin of 32%. Toast's strategic priorities include scaling locations and market share in the U.S., expanding into new segments, increasing customer adoption of their platform, and maintaining disciplined investment while expanding margins.

Record Net Location Additions

Toast added a record 8,500 net new locations in Q2 2025, contributing to a total of approximately 148,000 locations, up 24% from the previous year.

Strong Financial Performance

Recurring gross profit grew 35% year-over-year, with adjusted EBITDA reaching $161 million and GAAP operating income reaching $80 million.

International Expansion

Toast successfully launched in Australia, marking its fourth international market, and added its first Australian customer, Graze Craze.

Enterprise and Retail Growth

The company crossed 10,000 live locations across enterprise, food and beverage retail, and international segments, with these segments on track to surpass $100 million in ARR by the end of the year.

American Express Partnership

Toast announced a partnership with American Express to integrate reservation listings into the Local by Toast app, enhancing personalized experiences at the point of sale.

Product Innovation

Toast launched the Toast Go 3 handheld device, featuring ToastIQ, a new AI-powered intelligence engine, which has been well-received by customers.

Toast Inc (TOST) Earnings, Revenues Date & History

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TOST Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 11, 2025	2025 (Q3)	0.23 / -	0.175	―	―	―
Aug 05, 2025	2025 (Q2)	0.23 / 0.25	0.141	76.60% (+0.11)	―
May 08, 2025	2025 (Q1)	0.18 / 0.20	0.029	593.10% (+0.17)	―
Feb 19, 2025	2024 (Q4)	0.17 / 0.18	0.048	275.00% (+0.13)	―
Nov 07, 2024	2024 (Q3)	0.14 / 0.17	0.046	280.43% (+0.13)	―
Aug 06, 2024	2024 (Q2)	0.11 / 0.14	0.024	487.50% (+0.12)	―
May 07, 2024	2024 (Q1)	0.05 / 0.03	-0.036	180.56% (+0.07)	―
Feb 15, 2024	2023 (Q4)	0.03 / 0.05	-0.057	184.21% (+0.11)
Nov 07, 2023	2023 (Q3)	0.04 / 0.05	-0.036	227.78% (+0.08)
Aug 08, 2023	2023 (Q2)	>-0.01 / 0.02	-0.11	121.82% (+0.13)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

TOST Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 05, 2025	$47.71	$45.94	-3.71%
May 08, 2025	$36.65	$40.84	+11.43%
Feb 19, 2025	$39.98	$40.26	+0.70%
Nov 07, 2024	$32.67	$37.48	+14.72%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.