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Screener / SEC EDGAR /CIK 0001650164 /10-K filed Feb 18, 2026, compared with Feb 26, 2025 /Numbers from the XBRL of the 10-Ks
Technology peers:
TEAMPLTRAMKRNTAPTOSTSAIC
NYSE Technology · Data Processing

Toast, Inc. TOST

TOST quote by TradingView

Our mission is to empower the restaurant community to delight their guests, do what they love, and thrive. 10-K, Item 1

Employees
6,500
Headquarters
Boston, MA
CEO
Aman Narang
Next results
around Feb 11, 2027
Compare with peers Embed

Where each dollar of revenue went, FY2025

Revenue of $6.2B through the costs to a net profit of $342.0M · income statement of the 10-K

5% operating margin
Revenue to Gross profit: $1.6BRevenue to Cost of revenue: $4.6BGross profit to Operating profit: $292.0MGross profit to Operating expenses: $1.3BOperating profit to Net profit: $288.0MOperating profit to Tax: $4.0MOther income to Net profit: $54.0MOperating expenses to R&D: $374.0MOperating expenses to Sales, admin & other: $927.0M Revenue: $6.2B REVENUE $6.2B +24% Y/Y Gross profit: $1.6B · 26% margin GROSS PROFIT $1.6B 26% margin · +34% Y/Y Cost of revenue: $4.6B · 74% of revenue COST OF REVENUE $4.6B 74% of revenue Operating profit: $292.0M · 5% margin OPERATING PROFIT $292.0M 5% margin · +1725% Y/Y Other income: $54.0M · 1% of revenue OTHER INCOME $54.0M 1% of revenue Operating expenses: $1.3B · 21% of revenue OPERATING EXPENSES $1.3B 21% of revenue Net profit: $342.0M · 6% margin NET PROFIT $342.0M 6% margin · +1700% Y/Y Tax: $4.0M · 0% of revenue TAX $4.0M 0% of revenue R&D: $374.0M · 6% of revenue R&D $374.0M 6% of revenue Sales, admin & other: $927.0M · 15% of revenue SALES, ADMIN & OTHER $927.0M 15% of revenue
Gross profit $1.6B 26% margin · +34% Y/Y
Operating profit $292.0M 5% margin · +1725% Y/Y
Net profit $342.0M 6% margin · +1700% Y/Y
The full income statement, year by year

TOST among Technology peers

Six ratios from the latest 10-K. Each corner is the share of 230 peers the company is above, not a score.

Compare
Revenue growth: 24.1%, above 74% of 230 peers (their median 13.2%) REVENUE GROWTH 24.1% · above 74% Gross margin: 27.0%, above 9% of 210 peers (their median 61.4%) GROSS MARGIN 27.0% · above 9% Operating margin: 7.2%, above 36% of 222 peers (their median 11.5%) OPERATING MARGIN 7.2% · above 36% Net margin: 7.7%, above 42% of 228 peers (their median 10.4%) NET MARGIN 7.7% · above 42% FCF margin: 8.4%, above 25% of 225 peers (their median 20.0%) FCF MARGIN 8.4% · above 25% Return on capital: 12.6%, above 61% of 160 peers (their median 9.7%) RETURN ON CAPITAL 12.6% · above 61%
TOST Peer median Below the median

What changed

8 new risk paragraphs. 10-K filed Feb 18, 2026 against Feb 26, 2025.

Risk factors
8 new paragraphs, nothing like them in the previous 10-K
10-K Item 1A
Accounting checks
11 other checks clear
10-K · XBRL
Insiders
No open-market buys in the last 90 days
Form 4
Filings
5 in the last 30 days
EDGAR

Each row opens the detail with the quote and the filing. A row is a change worth reading, not a verdict.

Accounting checks

11 checks on the latest 10-K. Checks, not verdicts.

How it works

0facts worth reading about all 11 checks found nothing to note

  • Receivables +10.4% ($115.0M to $127.0M) vs revenue +24.1% ($5.0B to $6.2B), -13.6 pts apart
  • Cash from operations $661.0M vs net income $342.0M (FY ending Dec 31, 2025)
  • Inventory -3.4% ($118.0M to $114.0M) vs revenue +24.1% ($5.0B to $6.2B), -27.4 pts apart
8 more checks with nothing to note
  • Same auditor in both 10-Ks: Ernst & Young LLP
  • No statement of substantial doubt about going concern
  • No 8-K item 4.02 in the last 2 years
  • No NT 10-K or NT 10-Q in the last 2 years
  • No longer listed: T able of Contents. Same as last year: Valuation of Toast Capital Contingent Liability for Expected Credit Losses
  • No sentence in the 10-K concludes that controls were not effective because of a material weakness
  • No 8-K item 2.06 in the last 2 years
  • No 8-K item 1.03 in the last 2 years

In their words

8 paragraphs in Risk Factors that were not in the 10-K filed Feb 26, 2025. Quoted as filed.

All 8 new paragraphs
  1. Item 1A · new paragraph · not in the 10-K filed Feb 26, 2025 10-K, ITEM 1A
    We use AI in our platform and product offerings, and our success is dependent upon our ability to leverage data, develop competitive products, and manage related risks. We utilize AI solutions both for internal productivity purposes and in products and services available to our customers. We also work with partners who have incorporated…
  2. Item 1A · new paragraph · not in the 10-K filed Feb 26, 2025 10-K, ITEM 1A
    Further, given the early stage of generative AI, the evolving regulatory landscape surrounding AI also poses a risk, as new laws and regulations could impose additional compliance burdens, resulting in increased operational costs to comply with U.S. and non-US laws concerning the use of AI. For example, the EU’s Artificial Intelligence…
  3. Item 1A · new paragraph · not in the 10-K filed Feb 26, 2025 10-K, ITEM 1A
    Additionally, we periodically conduct audits and self-assessments to verify our compliance with Nacha Rules. If an audit or self-assessment under Nacha Rules identifies any deficiencies that we need to remediate,
  4. Item 1A · new paragraph · not in the 10-K filed Feb 26, 2025 10-K, ITEM 1A
    Toast and certain of its subsidiaries offer access to certain other financial technology products and services that are provided to our customers by bank partners. Our contracts with these bank partners, and our role in providing these services, requires us to comply with state and federal laws and regulations as well.

New risk paragraphs, against peers

Latest 10-K of each, Technology companies closest in revenue

Paragraphs in Risk Factors with nothing like them in the company's 10-K the year before. A count of text, not of risk.

Financial performance

Last 4 fiscal years · 10-K XBRL

All years
MetricFY2022FY2023FY2024FY2025
Revenue$2.7B$3.9B$5.0B$6.2B
Net income−$275.0M−$246.0M$19.0M$342.0M
Operating cash flow−$156.0M$135.0M$360.0M$661.0M
Free cash flow−$172.0M$93.0M$306.0M$608.0M

Revenue, FY2019 to FY2025

Ten fiscal years, each from its own 10-K · XBRL · USD

$6.2B ▲ 24.1% in FY2025

FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Every number, year by year

Recent filings

5 filings in the last 30 days · SEC EDGAR

All filings

About the company

Toast, Inc., Boston, MA · from the 10-K filed Feb 18, 2026

Our mission is to empower the restaurant community to delight their guests, do what they love, and thrive. Toast, Inc., which we refer to as Toast, we, or the Company, is a cloud-based, all-in-one digital technology platform purpose-built for the entire restaurant community. We provide a comprehensive platform of software-as-a-service, or SaaS, products and financial technology solutions, including integrated payment processing, restaurant-grade hardware, and a broad ecosystem of third-party partners. We serve as the restaurant operating system, connecting front of house and back of house operations across service models including dine-in, takeout, delivery, catering, and retail.

Headquarters
Boston, MA
Country
United States
Reports in
USD
Listed on
NYSE
Fiscal year ends
December 31
Last results
Nov 3, 2026

Employees, at the top of the page: "As of December 31, 2025, we had approximately 6,500 employees worldwide" (10-K). Address and exchange: SEC's company file.

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Sources

The 10-K filed Feb 18, 2026 (open at SEC), compared with the 10-K filed Feb 26, 2025. Numbers from the XBRL of the 10-Ks; filings from SEC EDGAR.

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