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Toast, Inc.: Business Overview, Financials & Competitive Analysis

Toast, Inc. scores 8/10 on the AskCyborg Cyborg Score (Strong). Dominant restaurant POS platform with expanding SaaS margins, strong location growth, and emerging retail opportunities creating significant leverage to restaurant recovery and digital adoption trends. Full-year 2025 net income surged to $342M and free cash flow to $608M as Toast expanded to 164,000 locations and guided 2026 EBITDA up to.

What is Toast, Inc.'s industry? Toast, Inc. (toasttab.com) operates in Cloud-Based Restaurant Technology / Hospitality SaaS. AskCyborg classifies Toast, Inc. under Cloud-Based Restaurant Technology / Hospitality SaaS in its company registry.

Toast is a cloud-based, all-in-one digital technology platform purpose-built for the entire restaurant community, providing comprehensive SaaS products and financial technology solutions across point of sale, payments...

8/ 10Strong

Cyborg Score thesis

Dominant restaurant POS platform with expanding SaaS margins, strong location growth, and emerging retail opportunities creating...

Read the full analyst-debate transcript →
Industry Cloud-Based Restaurant Technology / Hospitality SaaS
4 named competitors
3 recent developments
11 analyst dimensions
Synthesized from analyst-debate stress-testing across 11 dimensions and hundreds of data points. Methodology →
Cyborg Score recalibrated: September 21, 2026
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What's in This Report
Toast, Inc. OverviewStrategic ProfileCompetitive LandscapeIndustry ContextKey facts
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Toast, Inc. Overview

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Toast is a cloud-based, all-in-one digital technology platform purpose-built for the entire restaurant community, providing comprehensive SaaS products and financial technology solutions across point of sale, payments, operations, digital ordering and delivery, marketing and loyalty, and team management. As of fiscal 2024, the company provided services to 134,000 restaurant locations primarily in the US.

Strategic Profile

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The company released over 500 new product features including ToastIQ to drive customer engagement and operational improvements. Toast reported early success in retail markets such as grocery and butcher shops, by adapting its platform to support high SKU environments and complex inventory through new partnerships like Instacart.

Competitive Landscape

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Toast operates in the cloud-based restaurant POS and management software market, competing with both specialized restaurant technology providers and broader hospitality platforms. The company has achieved market leadership through scale (164,000+ locations), comprehensive feature breadth across operations, payments, and loyalty, and aggressive AI-driven product innovation to drive customer stickiness and upsell opportunities.

Industry Context

Toast, Inc. operates in Cloud-Based Restaurant Technology / Hospitality SaaS.

Key facts

Founded: 2011 · Headquarters: Boston, US · Revenue: $6.15B · Market cap: $16.1B

What the analysts stress-tested

The top findings that survived the multi-agent debate for Toast, Inc..

  • Added a record 30,000 net locations in 2025, with recurring gross profit growing 34%
  • Ongoing investment in AI product innovation and new market entry, but headwinds from increased hardware costs and tariffs
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Recent developments

Material events tracked by the AskCyborg corpus.

  • February 2026Partnership with Instacart for restaurant and retail ordering integration
  • February 2026Q4 2025 earnings beat with 22% revenue growth and record 30,000 net location additions
  • +1 moreTrack every material event for Toast, Inc. as it happens. Explore monitoring →
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Named competitors

Pulled from the analyst-debate framework. Click any competitor to see their Cyborg Score.

Square for RestaurantsPayment processing and POS for small restaurants→ToastComprehensive cloud-based restaurant operating system→MarginEdgeRestaurant back-office software for inventory and accounting→TouchBistroiPad-based POS system for restaurants→

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Industry context

Toast, Inc. operates in Cloud-Based Restaurant Technology / Hospitality SaaS. See how the rest of the sector scores on the Cyborg framework.

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Frequently asked questions

What does Toast, Inc. do?+
Toast is a cloud-based, all-in-one digital technology platform purpose-built for the entire restaurant community, providing comprehensive SaaS products and financial technology solutions across point of sale, payments...
What is Toast, Inc.'s Cyborg Score?+
Toast, Inc. has a Cyborg Score of 8/10 (Strong). The score synthesizes business model, financials, leadership, competitive position, technology, marketing, and ESG dimensions across hundreds of data points.
Who are Toast, Inc.'s main competitors?+
Named competitors include Square for Restaurants, Toast, MarginEdge, TouchBistro. The full competitive landscape is in the AskCyborg report.
How can I get the full Toast, Inc. research report?+
Get the report plus analyst-debate audio at askcyborg.com -- no credit card required for preview access. Pro adds saved-company audio playlists and monitoring.
How current is the Toast, Inc. research?+
The Cyborg Score is recalibrated weekly. Recent developments are tracked continuously and surfaced in every report.

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