TOST Q1 2025 Earnings
Reported May 8, 2025 at 4:12 PM ET · SEC Source
Q1 25 EPS
$0.09
MISS 51.64%
Est. $0.19
Q1 25 Revenue
$1.34B
MISS 0.38%
Est. $1.34B
vs S&P Since Q1 25
-53.6%
TRAILING MARKET
TOST -25.9% vs S&P +27.7%
Market Reaction
Did TOST Beat Earnings? Q1 2025 Results
Toast posted a mixed but operationally compelling first quarter for 2025, swinging to GAAP profitability while falling short on both top and bottom lines versus Wall Street expectations. The company earned $0.09 per share, missing the $0.19 consensus… Read more Toast posted a mixed but operationally compelling first quarter for 2025, swinging to GAAP profitability while falling short on both top and bottom lines versus Wall Street expectations. The company earned $0.09 per share, missing the $0.19 consensus estimate by 51.64%, while revenue of $1.34 billion came in just 0.38% below forecasts despite climbing 24.4% year over year. The headline miss, however, obscured a meaningful underlying story: adjusted EBITDA more than doubled to $133.00 million from $57.00 million a year ago, driven by sharp operating leverage as restructuring charges fell from $41.00 million to just $7.00 million. Platform scale expanded in tandem, with total restaurant locations growing 25% to roughly 140,000 and gross payment volume rising 22% to $42.20 billion. Strategic momentum was further validated by the signing of Applebee's, Toast's largest enterprise deal in company history. Encouraged by the trajectory, management raised full-year 2025 adjusted EBITDA guidance to $540.00 million to $560.00 million, with shares surging more than 12% in response to the report.
Key Takeaways
- • Added over 6,000 net new locations in Q1 2025
- • Total locations grew 25% YoY to approximately 140,000
- • ARR grew 31% YoY to $1.7 billion
- • GPV increased 22% YoY to $42.2 billion
- • Non-GAAP subscription services and financial technology solutions gross profit grew 37% YoY to $415 million
- • Restructuring expenses declined significantly from $41M to $7M YoY
TOST YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
TOST Revenue by Segment
With YoY comparisons, source: SEC Filings
“Toast kicked off the year with a fantastic first quarter - we added over 6,000 net new locations, grew our recurring gross profit streams 37%, and delivered $133 million in Adjusted EBITDA.”
— Aman Narang, Q1 2025 Earnings Press Release
TOST Earnings Trends
TOST vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
TOST EPS Trend
Earnings per share: estimate vs actual
TOST Revenue Trend
Quarterly revenue: estimate vs actual
TOST Quarterly Results
4 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q4 25 MISS FY | $0.24 | $0.16 | -33.33% | $1.63B | +1.17% |
| FY Full Year | $1.01 | $0.56 | -44.48% | $6.15B | +0.31% |
| Q3 25 MISS | $0.23 | $0.16 | -31.45% | $1.63B | +2.95% |
| Q2 25 MISS | $0.22 | $0.13 | -41.78% | $1.55B | +2.07% |
| Q1 25 MISS | $0.19 | $0.09 | -51.64% | $1.34B | -0.38% |