Toast Q3 revenue slightly beats after adding new locations
TOST•Toast reported Q3 revenue of $1.98 billion, slightly above the $1.97 billion analyst estimate, and net income of $169 million. It forecast Q4 adjusted EBITDA of $200 million to $210 million and named Michael Senno as CFO Elena Gomez’s successor, effective January 2027.
1. Quarterly results
Toast’s Q3 revenue rose to $1.98 billion, slightly beating analyst expectations of $1.97 billion. Net income was $169 million, while earnings per share were $0.29. The company added about 8,500 net new locations during the quarter.
2. Growth and outlook
Annualized recurring run-rate increased 24% year over year to $2.5 billion, and gross profit from subscription services and financial technology solutions rose 29%. Toast expects Q4 non-GAAP subscription and fintech gross profit of $610 million to $620 million and adjusted EBITDA of $200 million to $210 million. For 2026, it forecasts non-GAAP subscription and fintech gross profit of $2.375 billion to $2.385 billion.
3. Finance leadership
CFO Elena Gomez will step down, with Michael Senno named as her successor effective January 2027.
