← Toast, Inc.

Annual Trend FY 2019 FY 2020 FY 2021 FY 2022 FY 2023 FY 2024 FY 2025
Revenue:
Cost of revenue $601.0m $679.0m $1.4b $2.2b $3.0b $3.8b $4.6b
Gross profit $62.0m $140.0m $314.0m $511.0m $834.0m $1.2b $1.6b
Research and development $64.0m $109.0m $163.0m $282.0m $358.0m $351.0m $374.0m
Total operating expenses $275.0m $360.0m $542.0m $895.0m $1.1b $1.2b $1.3b
Amortization of acquired intangible assets $2.0m $4.0m $4.0m $5.0m $5.0m $5.0m $5.0m
Sales and marketing $128.0m $138.0m $190.0m $319.0m $401.0m $470.0m $571.0m
General and administrative $83.0m $113.0m $189.0m $294.0m $362.0m $307.0m $344.0m
Income (loss) from operations ($213.0m) ($220.0m) ($228.0m) ($384.0m) ($287.0m) $16.0m $292.0m
Interest income, net — ($12.0m) ($12.0m) $11.0m $37.0m $42.0m $51.0m
Change in fair value of warrant liability ($1.0m) ($8.0m) ($97.0m) $95.0m $3.0m ($49.0m) $3.0m
Other income, net $0 ($1.0m) $0 $1.0m $3.0m $13.0m $0
Income (loss) before income taxes ($212.0m) ($248.0m) ($490.0m) ($277.0m) ($244.0m) $22.0m $346.0m
Net income (loss) ($209.0m) ($248.0m) ($487.0m) ($275.0m) ($246.0m) $19.0m $342.0m
Basic (in dollars per share) ($1.08) ($1.25) ($1.68) ($0.54) ($0.46) $0.03 $0.59
Diluted (in dollars per share) ($1.08) ($1.25) ($1.68) ($0.54) ($0.46) $0.03 $0.56
Restructuring expenses — — — $0 $0 $46.0m $12.0m
Income tax (expense) benefit $3.0m $0 $3.0m $2.0m ($2.0m) ($3.0m) ($4.0m)
Total costs of revenue $603.0m $683.0m $1.4b $2.2b $3.0b $3.8b $4.6b

Data sourced from SEC EDGAR 10-K filings via EdgarTools. Amounts are shown in USD as reported in each fiscal year filing.

Values abbreviated: b = billions, m = millions, k = thousands. Per share data in USD.