Toast Income Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep '25 Sep 30, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021	Dec '20 Dec 31, 2020
Revenue	5,858	4,960	3,865	2,731	1,705	823
Revenue Growth (YoY)	25.76%	28.33%	41.52%	60.18%	107.17%	23.76%
Cost of Revenue	4,351	3,765	3,026	2,215	1,387	679
Gross Profit	1,507	1,195	839	516	318	144
Selling, General & Admin	881	772	749	613	379	251
Research & Development	370	351	358	282	163	109
Amortization of Goodwill & Intangibles	4	5	5	5	4	4
Operating Expenses	1,255	1,128	1,112	900	546	364
Operating Income	252	67	-273	-384	-228	-220
Interest Expense	-	-	-	-	-12	-12
Interest & Investment Income	48	42	37	11	-	-
Other Non Operating Income (Expenses)	4	-36	6	96	-200	-16
EBT Excluding Unusual Items	304	73	-230	-277	-440	-248
Merger & Restructuring Charges	-8	-46	-	-	-	-
Other Unusual Items	-19	-5	-14	-	-50	-
Pretax Income	277	22	-244	-277	-490	-248
Income Tax Expense	4	3	2	-2	-3	-
Net Income	273	19	-246	-275	-487	-248
Preferred Dividends & Other Adjustments	-	-	-	-	-	1
Net Income to Common	273	19	-246	-275	-487	-249
Shares Outstanding (Basic)	577	559	532	512	290	200
Shares Outstanding (Diluted)	629	591	533	512	290	200
Shares Change (YoY)	13.96%	10.88%	4.10%	76.55%	45.01%	2.65%
EPS (Basic)	0.47	0.03	-0.46	-0.54	-1.68	-1.25
EPS (Diluted)	0.43	0.03	-0.47	-0.72	-1.68	-1.25
Free Cash Flow	564	306	93	-189	-17	-153
Free Cash Flow Per Share	0.90	0.52	0.17	-0.37	-0.06	-0.77
Gross Margin	25.73%	24.09%	21.71%	18.89%	18.65%	17.50%
Operating Margin	4.30%	1.35%	-7.06%	-14.06%	-13.37%	-26.73%
Profit Margin	4.66%	0.38%	-6.37%	-10.07%	-28.56%	-30.25%
Free Cash Flow Margin	9.63%	6.17%	2.41%	-6.92%	-1.00%	-18.59%
EBITDA	311	111	-241	-360	-220	-202
EBITDA Margin	5.31%	2.24%	-6.24%	-13.18%	-12.90%	-24.54%
D&A For EBITDA	59	44	32	24	8	18
EBIT	252	67	-273	-384	-228	-220
EBIT Margin	4.30%	1.35%	-7.06%	-14.06%	-13.37%	-26.73%
Effective Tax Rate	1.44%	13.64%	-	-	-	-
Revenue as Reported	5,858	4,960	3,865	2,731	1,705	823
Advertising Expenses	-	43	29	25	17	6

Source: S&P Global Market Intelligence. Standard template. Financial Sources.