Toast Q4 net income $101M; ARR >$2B (+26% YoY); adds $500M buyback

Toast, Inc.

2025-FY EPS reported $0.56 revenue$6,153,000,000

Added record 30,000 net locations in 2025; total locations 164,000 (+22% YoY).
Q4 GAAP net income $101M vs $33M YoY; Adjusted EBITDA $163M vs $111M YoY.
ARR surpassed $2.0B as of Dec 31, 2025, up 26% YoY; full-year GPV $195.1B (+23%).
Board authorized $500M increase to share repurchase program; no expiration date.
Full-year 2025 free cash flow $608M vs $306M in 2024; FCF margin expanded.

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