Toast Q4 Revenue Climbs 21% to $460M as Subscription Sales Surge 28%
Toast reported Q4 2025 revenue of $460.3 million, a 21% year-over-year increase driven by a 28% jump in subscription and services to $205.4 million. Net loss narrowed to $0.10 per share while annual recurring revenue rose 35%, and the company expanded into the UK with 150 new restaurant sign-ups.
1. Q4 Financial Performance
Toast delivered Q4 2025 revenue of $460.3 million, up 21% from $380.3 million a year earlier. Net loss narrowed to $0.10 per share, compared with $0.22 per share in Q4 2024, reflecting improved operational leverage.
2. Subscription and Services Surge
Revenue from subscription and services jumped 28% year-over-year to $205.4 million, accounting for 45% of total sales. Annual recurring revenue reached $174.8 million, a 35% increase that underscores customer retention and upsell momentum.
3. Strategic International Expansion
During the quarter, Toast signed on 150 new restaurants in the UK and launched Financial Services in Canada. The company also added partnerships with three major hospitality software providers to broaden its platform ecosystem.
4. Updated Full-Year Outlook
Management raised full-year 2026 revenue guidance to a range of $1.85 billion to $1.87 billion, up from prior guidance of $1.80 billion to $1.83 billion, driven by robust subscription growth and international rollout plans.