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Toast Announces Second Quarter 2026 Financial Results

TOST
  • Toast reported 9,500 net new locations added in the second quarter of 2026, bringing total locations to approximately 180,000.
  • Annualized recurring run-rate (ARR) grew 25% year-over-year to $2.4 billion as of June 30, 2026.
  • Net income for the quarter was $154 million, with Adjusted EBITDA reaching $221 million, which included a $10 million one-time benefit from tariff refunds.
  • The company repurchased 19 million shares for $486 million year-to-date through June 30, 2026.
  • Gross Payment Volume (GPV) increased 22% year-over-year to $60.7 billion in the second quarter.
  • Subscription services \& financial technology solutions gross profit grew 28% to $595 million on a non-GAAP basis.
  • Toast secured new enterprise partnerships, including BWH Hotels, Kung Fu Tea, \& an expanded UK rollout with TGI Fridays.
  • The company launched "Toast Lab," an initiative to co-develop technology with a Greater Boston restaurant operator.
  • For Q3 2026, Toast forecasts Adjusted EBITDA between $210 million \& $220 million.
  • Full-year 2026 Adjusted EBITDA guidance was raised to a range of $805 million to $825 million.
  • Diluted earnings per share for the quarter were $0.26, compared to $0.13 in the same period last year.
  • Free cash flow for the second quarter was $130 million, down from $208 million in Q2 2025.