Filing Flows › Toast (TOST) › Q1 2026
Toast (TOST) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 8, 2026
Toast (TOST) reported revenue of $1.6B for the first quarter 2026 (Q1 2026), +22% from a year earlier and -0.2% from the quarter before. Operating margin was 6.7%, net earnings $126M (7.7% of revenue).
Toast, Q1 2026: revenue $1.6B (+22% year over year), operating margin 6.7%, net earnings $126M, operating cash flow $132M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.6B | -0.2% | +22% |
| Gross profit | $447M | +6% | +29% |
| Operating profit | $110M | +29% | +156% |
| Net earnings | $126M | +25% | +125% |
| Operating cash flow | $132M | -32% | +67% |
| Free cash flow | $115M | -35% | +67% |
What changed
Revenue was $1.6B in Q1 2026, up 22% year over year and roughly flat from the previous quarter. Financial technology solutions was the largest line at 81% of revenue. Financial technology solutions added $0.24B year over year (up 22%), 82% of the total change. Hardware and professional services declined 15%.
Gross margin was 27.4%, up 1.5 points from Q1 2025. Operating profit was $0.11B, a 6.7% margin (up 3.5 points year over year). Of the extra revenue versus Q1 2025, 23% reached operating profit, above the 3% margin then. Operating expenses grew 11% against revenue growth of 22%. The fastest-growing cost line was Sales & marketing (+17%). Net earnings were $0.13B, up 125% year over year. The effective tax rate was 3.8%.
Operating cash flow was $0.13B (up 67% year over year), 105% of net earnings. Non-cash charges added back $0.01B of depreciation and amortization and $0.05B of share-based compensation. Working capital and other items used $0.06B. Capital expenditures of $0.02B left free cash flow of $0.12B.
Questions
What was Toast's revenue in the first quarter 2026?
Toast (TOST) reported revenue of $1.6B for the first quarter 2026 (Q1 2026), +22% from a year earlier and -0.2% from the quarter before.
Was Toast profitable in the first quarter 2026?
Operating profit was $110M (6.7% of revenue) and net earnings $126M.
Source: Toast 10-Q on SEC EDGAR.