---
schema_version: "secwatch.filing_event.v1"
accession: "0001650164-26-000050"
form_type: "8-K"
ticker: "TOST"
cik: "0001650164"
company_name: "Toast, Inc."
filed_at: "2026-02-12T23:59:59+00:00"
generated_at: "2026-05-16T03:03:01.044097+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001650164-26-000050
- form_type: 8-K
- ticker: TOST
- cik: 0001650164
- company_name: Toast, Inc.
- filed_at: 2026-02-12T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1650164/000165016426000050/0001650164-26-000050-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1650164/000165016426000050/tost-20260210.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001650164-26-000050
- JSON: https://secwatch.observer/filing/0001650164-26-000050.json
- Plain text: https://secwatch.observer/filing/0001650164-26-000050.txt

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