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BOSTON - Toast Inc (NYSE:TOST) shares rose 5% after the restaurant technology platform reported third-quarter revenue that exceeded analyst expectations. The company posted revenue of $1.63 billion, surpassing the consensus estimate of $1.58 billion, while its adjusted EBITDA reached $176 million.
The restaurant technology provider reported third-quarter earnings per share of $0.16, falling short of analysts’ expectations of $0.24. However, investors focused on the company’s strong revenue growth, which increased 25% YoY, and its improved full-year guidance.
Toast ’s gross payment volume jumped 24% YoY to $51.5 billion, while its annualized recurring run-rate crossed the $2 billion threshold, growing 30% compared to the same period last year.
"We have an incredible opportunity to drive sustained growth over the next decade as we expand our leadership across U.S. restaurants, scale in new markets, and further expand our TAM," said Toast CEO Aman Narang. "With the momentum we have and the investments we’re making in our platform, in AI, and in our partner ecosystem, I’ve never been more confident in the opportunity ahead."
Toast added approximately 7,500 net new locations during the quarter, bringing its total to 156,000 globally, a 23% increase from the previous year. The company’s subscription services and financial technology solutions gross profit grew 34% YoY to $490 million.
For the full year 2025, Toast is now expecting non-GAAP subscription services and financial technology solutions gross profit of $1.87 billion (32% growth compared to 2024, up from previous guidance of 28-29% growth). The company also increased its adjusted EBITDA forecast to between $610 million and $620 million, up from its earlier projection of $565 million to $585 million.
Toast recently announced partnerships with major brands including Nordstrom, TGI Fridays, and Uber Technologies to expand its platform reach and capabilities.
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