---
schema_version: "secwatch.filing_event.v1"
accession: "0001650164-25-000334"
form_type: "8-K"
ticker: "TOST"
cik: "0001650164"
company_name: "Toast, Inc."
filed_at: "2025-11-04T23:59:59+00:00"
generated_at: "2026-05-17T00:38:50.940310+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.82
calibrated_materiality_score: 0.82
confidence: "high"
source: SEC EDGAR
---

# Toast Q3 2025: ARR hits $2.0B (+30% YoY), net income $105M, Adj. EBITDA $176M

## Summary
- Annualized Recurring Revenue (ARR) crossed $2.0 billion, up 30% year-over-year.
- Net income of $105 million (GAAP) compared to $56 million in Q3 2024; Adjusted EBITDA $176 million vs $113 million.
- Total locations grew 23% YoY to ~156,000; added ~7,500 net new locations in Q3.
- Gross Payment Volume (GPV) rose 24% YoY to $51.5 billion.
- Free Cash Flow of $153 million, up from $97 million a year ago.

## SEC filing metadata
- accession: 0001650164-25-000334
- form_type: 8-K
- ticker: TOST
- cik: 0001650164
- company_name: Toast, Inc.
- filed_at: 2025-11-04T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.82
- calibrated_materiality_score: 0.82
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1650164/000165016425000334/0001650164-25-000334-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1650164/000165016425000334/tost-20251104.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001650164-25-000334
- JSON: https://secwatch.observer/filing/0001650164-25-000334.json
- Plain text: https://secwatch.observer/filing/0001650164-25-000334.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.