TOST financial statements

The full income statement, balance sheet, and cash-flow statement for Toast Inc. (TOST), plus valuation ratios — straight from SEC filings. Switch between annual, quarterly, and trailing-twelve-month figures, pick how far back to look, and flip the time order. Every line has a trend sparkline.

Shares outstanding (point-in-time)

2024-06 562.0M2024-09 568.0M2024-12 575.0M2025-03 579.0M2025-06 583.0M2025-09 588.0M2025-12 589.0M2026-03 580.0M2026-06 578.0M+2.8% over 8 periods

SEC-filed end-of-period counts (cover pages and balance sheets, split-adjusted) — the series realized buyback yield is computed from. The weighted-average share lines in the statements below lag these by design: an average over the year sits near the midpoint of an ongoing buyback.

PeriodRangeOrderChangeYoYQoQFiguresAs-reported fiscal years.

Line item	FY2025	FY2024	FY2023	FY2022	FY2021
Income Statement	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Revenue	6.15B YoY+24.1%	4.96B YoY+28.3%	3.87B YoY+41.5%	2.73B YoY+60.2%	1.71B YoY+107.2%
	1.59B YoY+33.9%	1.19B YoY+42.7%	834M YoY+63.2%	511M YoY+62.7%	314M YoY+124.3%
Cost of revenue	4.56B YoY+21.0%	3.77B YoY+24.4%	3.03B YoY+36.5%	2.22B YoY+59.6%	1.39B YoY+103.7%
	1.30B YoY+10.8%	1.17B YoY+4.7%	1.12B YoY+25.3%	895M YoY+65.1%	542M YoY+50.6%
Research & development	374M YoY+6.6%	351M YoY-2.0%	358M YoY+27.0%	282M YoY+73.0%	163M YoY+49.5%
Selling, general & administrative	344M YoY+12.1%	307M YoY-15.2%	362M YoY+23.1%	294M YoY+55.6%	189M YoY+67.3%
General & administrative	344M YoY+12.1%	307M YoY-15.2%	362M YoY+23.1%	294M YoY+55.6%	189M YoY+67.3%
Selling & marketing	571M YoY+21.5%	470M YoY+17.2%	401M YoY+25.7%	319M YoY+67.9%	190M YoY+37.7%
Amortization of intangibles	—	—	—	5.00M YoY+25.0%	4.00M YoY+0.0%
Provision for credit losses	91.0M YoY+30.0%	70.0M YoY+9.4%	64.0M YoY+88.2%	34.0M YoY+750.0%	4.00M
Operating income	292M YoY+1725.0%	16.0M YoY+105.6%	-287M YoY+25.3%	-384M YoY-68.4%	-228M YoY-3.6%
Interest expense	—	—	—	—	12.0M YoY-7.7%
Interest & investment income	—	—	—	—	0.00 YoY-100.0%
Net interest income	51.0M YoY+21.4%	42.0M YoY+13.5%	37.0M YoY+236.4%	11.0M YoY+191.7%	-12.0M YoY+0.0%
Other non-operating income	0.00 YoY-100.0%	13.0M YoY+333.3%	3.00M YoY+200.0%	1.00M	0.00 YoY+100.0%
Pre-tax income	346M YoY+1472.7%	22.0M YoY+109.0%	-244M YoY+11.9%	-277M YoY+43.5%	-490M YoY-97.6%
Income tax	4.00M YoY+33.3%	3.00M YoY+50.0%	2.00M YoY+200.0%	-2.00M YoY+33.3%	-3.00M
	342M YoY+1700.0%	19.0M YoY+107.7%	-246M YoY+10.5%	-275M YoY+43.5%	-487M YoY-96.4%
Net income to common	342M YoY+1700.0%	19.0M YoY+107.7%	-246M YoY+10.5%	-275M YoY+43.5%	-487M YoY-95.6%
	$0.56 YoY+1766.7%	$0.03 YoY+106.4%	-$0.47 YoY+34.7%	-$0.72 YoY+57.1%	-$1.68 YoY-34.4%
EPS (basic)	$0.59 YoY+1866.7%	$0.03 YoY+106.5%	-$0.46 YoY+14.8%	-$0.54 YoY+67.9%	-$1.68 YoY-34.4%
	582M YoY+4.1%	559M YoY+5.1%	532M YoY+3.9%	512M YoY+76.6%	290M YoY+45.0%
	607M YoY+2.7%	591M YoY+10.9%	533M YoY+4.1%	512M YoY+76.6%	290M YoY+45.0%
Balance Sheet	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	2.67B YoY+35.1%	1.98B YoY+25.8%	1.57B YoY+11.6%	1.41B YoY-5.3%	1.49B YoY+120.7%
Cash & equivalents	1.35B YoY+49.8%	903M YoY+49.3%	605M YoY+10.6%	547M YoY-32.4%	809M YoY+39.0%
Accounts receivable	127M YoY+10.4%	115M YoY+66.7%	69.0M YoY-10.4%	77.0M YoY+40.0%	55.0M YoY+66.7%
Inventory	114M YoY-3.4%	118M YoY+0.0%	118M YoY+7.3%	110M YoY+161.9%	42.0M YoY+121.1%
Prepaid expenses	39.0M YoY+34.5%	29.0M YoY+20.8%	24.0M YoY-84.5%	155M YoY+68.5%	92.0M YoY+318.2%
Other current assets	437M YoY+34.5%	325M YoY+25.5%	259M YoY+30.2%	199M YoY+1558.3%	12.0M YoY+4009.6%
	3.15B YoY+30.6%	2.41B YoY+23.0%	1.96B YoY+11.2%	1.76B YoY+1.5%	1.74B YoY+123.6%
Property, plant & equipment	132M YoY+34.7%	98.0M YoY+30.7%	75.0M YoY+23.0%	61.0M YoY+48.8%	41.0M YoY-6.8%
Operating lease right-of-use	27.0M YoY+8.0%	25.0M YoY-30.6%	36.0M YoY-53.2%	77.0M YoY-2.5%	79.0M
Goodwill	113M YoY+0.0%	113M YoY+0.0%	113M YoY+5.6%	107M YoY+44.6%	74.0M YoY+105.6%
Intangible assets	14.0M YoY-30.0%	20.0M YoY-23.1%	26.0M YoY-10.3%	29.0M YoY+81.3%	16.0M YoY+128.6%
Other non-current assets	146M YoY+23.7%	118M YoY+42.2%	83.0M YoY+59.6%	52.0M YoY+642.9%	7.00M YoY+600.0%
Total non-current assets	476M YoY+9.9%	433M YoY+11.6%	388M YoY+9.6%	354M YoY+41.6%	250M YoY+142.7%
	969M YoY+19.5%	811M YoY+22.3%	663M YoY+33.7%	496M YoY+40.9%	352M YoY+158.8%
Accounts payable	47.0M YoY+27.0%	37.0M YoY+15.6%	32.0M YoY+6.7%	30.0M YoY-25.0%	40.0M YoY+33.3%
Accrued liabilities	74.0M YoY+7.2%	69.0M YoY+1.5%	68.0M YoY+51.1%	45.0M YoY+114.3%	21.0M YoY+162.5%
Deferred revenue	68.0M YoY+15.3%	59.0M YoY+51.3%	39.0M YoY+0.0%	39.0M YoY-11.4%	44.0M YoY+2.3%
Current lease liability	—	10.0M YoY-9.1%	11.0M YoY-21.4%	14.0M YoY-36.4%	22.0M
	1.02B YoY+18.3%	863M YoY+13.0%	764M YoY+15.2%	663M YoY+3.0%	644M YoY+61.8%
Long-term debt	—	—	—	—	0.00 YoY-100.0%
Deferred revenue (non-current)	—	—	—	7.00M YoY-41.7%	12.0M YoY-25.0%
Non-current lease liability	20.0M YoY-16.7%	24.0M YoY-27.3%	33.0M YoY-58.8%	80.0M YoY+3.9%	77.0M
Operating lease liability (total)	—	34.0M YoY-22.7%	44.0M YoY-53.2%	94.0M YoY-5.1%	99.0M
Other non-current liabilities	52.0M YoY+766.7%	6.00M YoY+50.0%	4.00M YoY-78.9%	19.0M YoY-13.6%	22.0M YoY+214.3%
	2.12B YoY+37.5%	1.54B YoY+29.4%	1.19B YoY+8.7%	1.10B YoY+0.6%	1.09B YoY+331.6%
Preferred stock	0.00	0.00	0.00	0.00	0.00
Common stock	0.00	0.00	0.00	0.00	0.00
Additional paid-in capital	3.38B YoY+7.4%	3.15B YoY+11.8%	2.82B YoY+13.7%	2.48B YoY+12.9%	2.19B YoY+1413.1%
Retained earnings	-1.26B YoY+21.3%	-1.60B YoY+1.2%	-1.62B YoY-17.9%	-1.38B YoY-25.0%	-1.10B YoY-78.9%
Treasury stock	—	—	0.00	0.00	0.00
Accumulated other comprehensive income	2.00M YoY+300.0%	-1.00M	0.00 YoY+100.0%	-2.00M YoY-100.0%	-1.00M
Total liabilities & equity	3.15B YoY+30.6%	2.41B YoY+23.0%	1.96B YoY+11.2%	1.76B YoY+1.5%	1.74B YoY+123.6%
Cash Flow	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
	661M YoY+83.6%	360M YoY+166.7%	135M YoY+186.5%	-156M YoY-7900.0%	2.00M YoY+101.6%
Depreciation & amortization	64.0M YoY+39.1%	46.0M YoY+43.8%	32.0M YoY+33.3%	24.0M YoY+14.3%	21.0M YoY-22.2%
Intangible amortization	—	—	—	5.00M YoY+25.0%	4.00M YoY+0.0%
Share-based compensation	242M YoY-4.3%	253M YoY-8.7%	277M YoY+21.5%	228M YoY+62.9%	140M YoY+62.8%
Deferred income taxes	0.00	0.00 YoY+100.0%	-1.00M YoY+80.0%	-5.00M YoY-66.7%	-3.00M
Change in receivables	33.0M YoY-54.2%	72.0M YoY+2300.0%	3.00M YoY-91.4%	35.0M YoY+52.2%	23.0M YoY+76.9%
Change in inventory	-4.00M	0.00 YoY-100.0%	7.00M YoY-89.7%	68.0M YoY+195.7%	23.0M YoY+475.0%
Change in payables	11.0M YoY+120.0%	5.00M YoY+400.0%	1.00M YoY+109.1%	-11.0M YoY-173.3%	15.0M YoY+350.0%
	-172M YoY-341.0%	-39.0M YoY+54.7%	-86.0M YoY+12.2%	-98.0M YoY+80.5%	-503M YoY-1297.2%
Capital expenditure	53.0M YoY-1.9%	54.0M YoY+28.6%	42.0M YoY+162.5%	16.0M YoY+33.3%	12.0M YoY-57.1%
Free cash flow	608M YoY+98.7%	306M YoY+229.0%	93.0M YoY+154.1%	-172M YoY-1620.0%	-10.0M YoY+93.5%
Acquisitions	0.00	0.00 YoY-100.0%	9.00M YoY-80.4%	46.0M YoY+76.9%	26.0M
Sales/maturities of investments	336M YoY-7.2%	362M YoY-34.9%	556M YoY+50.7%	369M YoY+7280.0%	5.00M
Other investing activities	0.00	0.00 YoY-100.0%	3.00M	0.00 YoY+100.0%	-1.00M
	7.00M YoY-61.1%	18.0M YoY-71.4%	63.0M YoY+65.8%	38.0M YoY-95.0%	759M YoY+27.8%
Long-term debt issued	0.00	0.00	0.00	0.00	0.00
Long-term debt repaid	0.00	0.00	0.00	0.00	0.00
Common stock issued	81.0M YoY-18.2%	99.0M YoY+175.0%	36.0M YoY+140.0%	15.0M YoY-55.9%	34.0M
Common stock repurchased	107M YoY+91.1%	56.0M	0.00	0.00	0.00
Dividends paid	0.00	0.00	0.00	0.00	0.00
Other financing activities	—	0.00	0.00 YoY+100.0%	-3.00M YoY+25.0%	-4.00M
FX effect on cash	2.00M YoY+300.0%	-1.00M	0.00	0.00 YoY+100.0%	-1.00M YoY-150.0%
Net change in cash	498M YoY+47.3%	338M YoY+201.8%	112M YoY+151.9%	-216M	—
Interest paid	—	—	—	0.00 YoY-100.0%	13.0M YoY+160.0%
Valuation Ratios	as ofDec 31 ’25	as ofDec 31 ’24	as ofDec 31 ’23	as ofDec 31 ’22	as ofDec 31 ’21
Market cap	21.7B YoY-14.6%	25.4B YoY+159.2%	9.79B YoY+5.7%	9.26B YoY-46.7%	17.4B
P/E	63.3× YoY-95.3%	1335.2×	—	—	—
P/S	3.5× YoY-31.2%	5.1× YoY+88.0%	2.7× YoY-27.3%	3.7× YoY-63.3%	10.2×
P/B	10.2× YoY-37.9%	16.4× YoY+92.8%	8.5× YoY+2.9%	8.3× YoY-48.0%	15.9×
P/FCF	35.6× YoY-57.0%	82.9× YoY-85.6%	575.7×	—	—
	1.6% YoY+2008.1%	0.07%	—	—	—
	2.8% YoY+132.7%	1.2% YoY+594.4%	0.17%	—	—
Source filing	10-K	10-K	10-K	10-K	10-K

About this data

Source: TOST's SEC filings (10-K / 10-Q). Annual columns are as-reported fiscal years; quarterly columns are as-reported fiscal quarters (Q4 derived as full-year minus the first three quarters where a company doesn't file a standalone Q4); TTM (quarterly) rolls the trailing four quarters at every quarter end, TTM (yearly) samples that one year apart; balance-sheet rows show the period-end balance. Valuation ratios are sampled as of each period end. View all TOST filings on SEC EDGAR → Not investment advice.