Toast

What Toast does

Toast, Inc. (NYSE: TOST), founded in 2011 and headquartered in Boston, operates a vertically integrated, cloud-based restaurant management platform serving more than 164,000 restaurant locations across the United States, United Kingdom, Ireland, Canada, and Australia. The platform combines a purpose-built restaurant point-of-sale (running on proprietary Toast Flex terminals and Toast Go 3 handhelds), integrated payment processing (Q4 2025 gross payment volume of $51.4 billion), and a broad set of software modules covering online ordering, marketing, loyalty, reservations, payroll, team management, inventory, and capital/financial services — including Toast Capital Loans, Toast Checking (via Thread Bank), Toast Pay Card/PayOut (via Sutton Bank/Mastercard), and Instant Deposit.

The unifying layer across the platform is Toast IQ, a conversational AI assistant launched in October 2025 that integrates per-restaurant operational data to deliver personalized insights, automate workflows, and execute cross-platform actions (price changes, menu updates, upsell prompts, payroll). Toast monetizes through a tiered SaaS subscription model (Starter Kit $0/month, Point of Sale $69/month, Build Your Own custom, Toast IQ Grow $499/month) layered on top of transaction-based payment processing fees, hardware sales, instant-deposit fees (1.75%), and financial-services revenue. Toast recorded FY2025 revenue of $6.15 billion (up 24% YoY), ARR of $2.2 billion (up 26% YoY) as of Q1 2026, and $608 million of free cash flow in 2025, and was added to the S&P MidCap 400 effective July 1, 2026. Strategic partnerships with The Alinea Group, Alicart Restaurant Group, Hungry Howie's, and Preferred Hotels & Resorts anchor enterprise expansion, while international rollout of Toast Go 3 (April 2026) and the launch of Toast Drive-Thru (April 2026) extend the addressable market into hospitality and QSR drive-thru segments.

Name

Toast

Legal name

Toast, Inc.

Website

https://pos.toasttab.com

Company type

Public

Founded year

2011

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Toast is a cloud-based, vertically integrated restaurant management platform serving 164,000+ locations across five countries, combining POS software, payment processing, fintech, proprietary hardware, and the Toast IQ AI assistant into a single subscription-plus-transaction-fee revenue stack for restaurants, hospitality, and adjacent retailers.

Ownership category

akta.pro rank

Product category

Restaurant POS Software

NAICS

Restaurants and Other Eating Places (72251), Restaurants and Other Eating Places (7225), Food Services and Drinking Places (722)

SIC

Retail-Eating & Drinking Places (5810), Retail-Eating Places (5812)

akta.pro primary industry

Corporate Catering & Office Food Programs (HSACAGAC)

akta.pro secondary industries

Soft-Serve & Custard Stands (THAFAGAC), Dessert Cafes (Coffee + Desserts) (THAFADAH), Venue & Banquet Hall Catering (THAFAIAC), Corporate/Workplace Meal Programs & Bulk Prepared Meals (CRAHAJAJ)

Keywords

• Restaurant POS software
• Payment processing services
• Restaurant management platform
• Restaurant fintech solutions
• Hospitality point of sale

Headquarters

HQ city

Boston

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Software Subscription: Recurring monthly SaaS subscription for the Toast POS platform; tiers include Point of Sale ($69/month), Starter Kit ($0/month, hardware kit), and Build Your Own (custom pricing) with add-on modules.
2. Payment Processing & Fintech: Transaction-based payment processing revenue; Toast generates ~$4-5 billion in payments revenue annually versus ~$706M-$936M from software subscriptions. Includes Toast Capital Loans, Toast Checking, Toast Pay Card, and instant deposit (1.75% fee).
3. Hardware Sales: Sale of commercial-grade hardware including Toast Flex POS terminal, Toast Go 3 handheld, Kitchen Display System, self-ordering kiosks, and printer/payment devices; available via online shop.
4. Toast IQ Grow (Marketing SaaS): Subscription at $499/month for AI-powered marketing automation including AI Marketing Agent, Marketing Success Manager, integrated online ordering, and Toast Local.
5. Advertising Revenue: Toast Advertising launches and manages campaigns across Google, Facebook, and Instagram on behalf of restaurants; ad spend charged separately from the Toast IQ Grow subscription.
6. Instant Deposit & Financial Services Fees: 1.75% fee applied to each instant deposit of card transactions; plus merchant financing and loan interest via Toast Capital Loans (issued by WebBank).
7. Professional Services (Payroll & Tips Management): Toast Payroll and Team Management offering including payroll, benefits administration, scheduling, applicant tracking, and tips management — recurring fee-based suite.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels10 records

Core offering

Toast is a cloud-based, all-in-one restaurant management platform that combines point-of-sale (POS) software, integrated payment processing, commercial-grade hardware, fintech services (capital loans, business checking, instant deposit), and AI-driven analytics into a single purpose-built system for the food service and hospitality industry. The platform unifies operations, ordering, payments, marketing, payroll, team management, inventory, and reservations for restaurants ranging from independent single-location cafes to enterprise multi-location chains.

Product overview

Toast operates as a single unified cloud-based platform — the Toast Platform — rather than a collection of standalone products. The platform architecture pairs a core Restaurant POS (with a parallel Toast Retail POS) running on Toast's commercial-grade hardware (Toast Flex terminals, Toast Go 3 handhelds, Kitchen Display Systems, Self-Ordering Kiosks, and the new Toast Drive-Thru) with a broad set of integrated software modules. Operational modules include Toast Now management app, Toast Mobile Order & Pay, Toast Tables reservations/waitlist, and Benchmarking. Marketing modules include Guest CRM, Loyalty, Toast Marketing, Toast Advertising, Gift Cards, Websites, Branded Mobile App, Toast Delivery Services, Toast Local (with embedded Resy), and Toast IQ Grow. Team management modules include Scheduling, Toast Tips Manager, Toast Payroll, and Toast Pay Card & PayOut. Vendor and accounting modules include Inventory Management, Invoice Automation, and the acquired xtraCHEF cost analytics. Finance modules (Toast Finance) include Toast Capital, Toast Checking, and Instant Deposit. The unifying AI layer is Toast IQ, an AI assistant that connects these modules via chat-based actions, recommendations, and proactive insights. Toast also publishes APIs for partner integrations (200+ integrations listed in its marketplace).

Differentiator

Problem solved

Functional benefit

Brands

• Toast IQ: AI assistant that takes action, providing insights and automating workflows for restaurant operators
• Toast IQ Grow
• Toast Go
• Toast Go 3
• Toast Flex
• Toast Local
• Toast Drive-Thru
• Toast Finance
• Toast Capital
• Toast Checking
• Toast Pay Card
• Toast Now
• Toast Tables
• Toast Delivery Services
• Toast Mobile Order & Pay
• xtraCHEF

Products and services

• Toast Restaurant POS Cloud-based point-of-sale system purpose-built for the restaurant industry, supporting quick service, full service, fast casual, bar/lounge, café/bakery, casual dining, food truck, pizza, fine dining, hotel restaurant, sushi, drive-thru, sports & entertainment, and catering/event concepts.
• Toast Platform One unified cloud-based platform connecting operations, guests, team, vendors, finance, and AI; designed for busy restaurant operators with offline mode, 24/7 support, 1,000+ features, and 200+ integrations.
• Toast IQ

Quantifiable outcome

• Over half of all Michelin-starred US restaurants run on Toast
• +7 more outcomes

Named customers16 records

Segments7 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration11 records

AI capability15 records

Feature8 records

Partnerships

16 partnerships are on record, tiered minor regional sponsorship, major enterprise customer, minor partnership, strategic partnership, high-profile flagship partnership, strategic integration, major strategic acquisition, strategic delivery partnership, strategic fintech integration and strategic regulatory partnership.

• NAAFIA / Taste of Asia Cultural Foundation / Peach Blossom Island Business Academyminor regional sponsorshipGTM or Marketing Partner · 19 June 2026Toast showcased its products and services at the 8th Annual Taste of Asia (TOA) Summit in Santa Clara, California, alongside MenuSifu, HADAY, OCM Globe, and EZ Capital. The summit gathered 320 restaurant industry leaders focused on restaurant technology, AI adoption, digital transformation, and international expansion.
• Hungry Howie'smajor enterprise customerStrategic or Co-development Partner · 11 June 2026Enterprise technology suite deployed across approximately 500 Hungry Howie's restaurant locations, representing Toast's second enterprise pizza brand customer in 2026 (after the Alinea Group).
• ICC UK Trade & Export Initiativeminor partnershipGTM or Marketing Partner · 21 May 2026Toast sponsored ICC UK Trade & Export initiative to support UK hospitality brands expanding internationally, particularly from the UK to the United States. Toast emphasizes its platform's ability to facilitate global expansion through integrated technology solutions and dedicated local support.
• DoorDashstrategic partnershipGTM or Marketing Partner · 19 May 2026Toast confirmed as a 2026 Preferred Integration Partner in DoorDash's technology partner programme alongside Checkmate, Deliverect, Otter, Square, Stream, and UrbanPiper. The program introduces stricter integration standards and new performance monitoring tools. However, DoorDash separately signaled intent to enter POS, posing a competitive threat to Toast.
• The Alinea Grouphigh-profile flagship partnershipStrategic or Co-development Partner · 6 May 2026Strategic commercial partnership where The Alinea Group will deploy Toast's restaurant technology platform across its portfolio of Michelin-starred restaurants and award-winning cocktail bars. The Alinea Group is co-founded by Chef Grant Achatz and CEO Jason Weingarten. The agreement covers existing locations and future expansions, validating Toast's position in the fine-dining segment.
• Resy (American Express)strategic integrationTechnology or Integration · 5 May 2026Toast Local app features integrated Resy reservations across 20,000+ locations; Toast's marketing platform Toast IQ Grow integrates Resy reservation functionality to expand bookable locations.
• Preferred Hotels & Resortshigh-profile flagship partnershipChannel Partner/ Reseller/ Distributor · 4 May 2026Toast joined Preferred Hotels & Resorts' Alliance Partner Program as a recommended POS provider for the hotel brand's member properties across US, UK, Ireland, and Canada. The partnership covers more than 625 luxury hotels, resorts, and residences across 80+ countries — the world's largest independent hotel brand. Toast Go 3 handhelds with LTE capabilities support complex multi-concept food, beverage, and retail operations.
• Alicart Restaurant Grouphigh-profile flagship partnershipStrategic or Co-development Partner · 21 April 2026Toast partnered with Alicart Restaurant Group to implement Toast platform across its portfolio including Carmine's, Virgil's Real BBQ, and Mermaid Oyster Bar. Alicart's flagship Carmine's location in Times Square seats 3,000 guests daily and uses over 20 Toast terminals including Toast Go handhelds. Alicart has adopted Toast IQ AI assistant; Group President Alexis Blair will join Toast's Customer Advisory Board.
• Arnold (Creative Agency)minor partnershipGTM or Marketing Partner · 16 April 2026Toast partnered with creative agency Arnold to develop its 'Built For Busy' brand campaign including the NYC 'Windows to Success' out-of-home activation featuring local restaurant storefronts.
• Incept AIstrategic integrationTechnology or Integration · 14 April 2026Incept AI is an AI voice ordering partner integrated into Toast Drive-Thru's enterprise-grade unified platform. The partnership automates order-taking as part of Toast's drive-thru solution targeting brands with 15+ locations and the 140,000 total U.S. drive-thru locations.
• xtraCHEFmajor strategic acquisitionStrategic or Co-development Partner · 10 June 2021Toast acquired xtraCHEF, a New York City-based provider of financial and operational management tools for restaurants. xtraCHEF now operates under the Toast brand with its founders remaining in their roles. xtraCHEF capabilities (menu profitability insights, accounts payable automation) are now branded as Toast xtraCHEF cost analytics.
• Uber (Uber Eats)strategic delivery partnershipTechnology or IntegrationToast integrated with Uber Eats for restaurant delivery operations; Uber Technologies has a separate partnership with Toast for restaurant operations and with Block (Square integration with Uber Eats internationally).
• Bilt Rewardsstrategic fintech integrationTechnology or IntegrationBilt processes over $100 billion in annual housing spend across one in four U.S. apartment buildings, with integration into Toast platforms (alongside Resy) for restaurant payments and loyalty use cases. Bilt is expanding into mortgages, condo HOAs, and FSA/HSA reimbursement.
• Brindisa Kitchensminor partnershipStrategic or Co-development PartnerBrindisa Kitchens is an early adopter of Toast Go 3 handheld POS in beta program; provided positive testimonial citing improved operational efficiency and table-side service.
• Caravan Restaurantsminor partnershipStrategic or Co-development PartnerCaravan Restaurants is an early adopter of Toast Go 3 handheld POS in beta program; provided positive testimonial citing improved operational efficiency and enhanced guest experiences.
• Federal Reserve Bank of Bostonstrategic regulatory partnershipStrategic or Co-development PartnerThe Federal Reserve Bank of Boston launched a payments advisory council for its First District region, with Toast executives among 18-24-month members alongside Wex, State Street, and Fintech Sandbox. Council will share industry insights and guide the agency's payment policy decisions.

Scale indicators19 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Block (Square): Square is Toast's most direct competitor in restaurant POS, offering a horizontal POS/payments platform that also serves restaurants. Toast's vertical depth and integrated fintech stack are the primary differentiation versus Square.
• Clover (Fiserv): Clover is a multi-vertical POS and payments platform owned by Fiserv, frequently compared with Toast for SMB and mid-market restaurant deals. Clover competes with Toast on hardware-plus-software pricing and bank-led distribution.
• SpotOn: SpotOn is a restaurant-focused POS and payments competitor with integrated marketing, payroll, and capital offerings. It directly competes for SMB and mid-market restaurant customers, often head-to-head with Toast.
• Lightspeed Restaurant: Lightspeed Restaurant is a cloud POS for full-service and quick-service restaurants. It competes with Toast in the FSR/QSR segments and is regularly cited in Toast's own POS comparison pages.
• TouchBistro: TouchBistro is an iPad-based restaurant POS targeting small and mid-market FSRs. It overlaps with Toast's Starter Kit and Point of Sale tiers in the SMB segment.
• Resy (American Express): Resy is a restaurant reservations and guest platform now integrated with Toast Local (and Toast IQ Grow). It is a partner in some contexts and a competitor in restaurant CRM, marketing, and reservations.

Broad incumbents

• Oracle Food and Beverage (Micros): Oracle's MICROS-derived Food & Beverage POS is the legacy enterprise incumbent for hotels, stadiums, and large chain restaurants. Toast Drive-Thru and Preferred Hotels partnership are direct counter-moves.
• OpenTable: OpenTable is the dominant third-party restaurant reservation network. It overlaps with Toast Tables and the consumer side of Toast Local; OpenTable is a competitor for guest/CRM and reservations.

Emerging players

• Shift4 Payments: Shift4 is a payments-led platform increasingly moving into hospitality POS via its SpaceStation integration. It competes with Toast in payment processing economics and is building a fuller restaurant stack.
• DoorDash: DoorDash is a Toast integration partner in 2026 but has separately signaled intent to enter the POS category. Its delivery-side relationship with restaurants gives it a credible foothold to compete with Toast in restaurant OS.

Market position

Strengths5 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/toasttab
• Facebookfacebook.com/toasttab
• LinkedInlinkedin.com/company/toast-inc

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries5 records

Funding overview

Funding rounds9 records

Investors24 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A4 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Toast