Filing Flows › Toast (TOST) › How it makes money
How Toast (TOST) makes money
Toast (TOST) made $2.0B of revenue in the third quarter 2026 (Q3 2026), +21% from a year earlier. Financial technology solutions brought in $1.6B (82%); Subscription services brought in $317M (16%); Hardware and professional services brought in $45.0M (2%). Of every dollar of revenue, 27¢ was left as gross profit, 8¢ was left as operating profit, 9¢ was left as net earnings.
Drawing the Sankey…
Revenue by segment, Q3 2026
| Segment | Revenue | Share | Q/Q | Y/Y |
|---|---|---|---|---|
| Financial technology solutions | $1.6B | 81.7% | +3% | +20% |
| Subscription services | $317M | 16.0% | +9% | +30% |
| Hardware and professional services | $45.0M | 2.3% | -6% | +2% |
Where each dollar of revenue goes
| Line | Q3 2026 | % of revenue |
|---|---|---|
| Revenue | $2.0B | 100.0% |
| Cost of revenue | $1.4B | 72.6% |
| Gross profit | $543M | 27.4% |
| Operating expenses | $378M | 19.1% |
| Operating profit | $165M | 8.3% |
| Income tax | $7.0M | 0.4% |
| Net earnings | $169M | 8.5% |
| Operating cash flow | $198M | 10.0% |
| Free cash flow | $181M | 9.1% |
Revenue, quarter by quarter
| Quarter | Revenue | Y/Y |
|---|---|---|
| Q3 2026 | $2.0B | +21% |
| Q2 2026 | $1.9B | +23% |
| Q1 2026 | $1.6B | +22% |
| Q4 2025 | $1.6B | +22% |
| Q3 2025 | $1.6B | +25% |
| Q2 2025 | $1.6B | +25% |
| Q1 2025 | $1.3B | +24% |
From Toast's 10-Q filed Nov 4, 2026 (on EDGAR).
Questions
How does Toast make money?
Toast (TOST) made $2.0B of revenue in the third quarter 2026 (Q3 2026), +21% from a year earlier. Financial technology solutions brought in $1.6B (82%); Subscription services brought in $317M (16%); Hardware and professional services brought in $45.0M (2%). Of every dollar of revenue, 27¢ was left as gross profit, 8¢ was left as operating profit, 9¢ was left as net earnings.
What is Toast's biggest business?
Financial technology solutions: $1.6B in the third quarter 2026, 82% of revenue, +20% from a year earlier.
What is Toast's profit margin?
Net earnings were $169M, 8.5% of revenue, in the third quarter 2026; the operating margin was 8.3%.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.