Toast (TOST) Q3 FY2026 earnings: revenue $2.0 billion, up 21.3% on the year
Toast, Inc. (TOST) reported revenue of $2.0 billion for Q3 FY2026, the quarter ended 30 September 2026, up 21.3% on the same quarter a year earlier. Net income was $169 million, up 61.0% on the year, and diluted earnings per share $0.29. The figures are the company's own, from the 10-Q it filed with the SEC on 4 November 2026.
Revenue
$2.0 billion
+21.3% on the year · +3.8% on the quarter
Q4 FY2024Q3 FY2026
Operating margin
8.3%
5.1% a year earlier
Q4 FY2024Q3 FY2026
Net income
$169 million
+61.0% on the year · +9.7% on the quarter
Q4 FY2024Q3 FY2026
Diluted EPS
$0.29
+81.2% on the year · +11.5% on the quarter
Q4 FY2024Q3 FY2026
this quarterthe same quarter a year earlierHover a bar for its figure.
What management said
Guidance figures: 2 raised, 2 new.
ARR grew 24% to $2.5 billion: Annualized recurring run-rate reached $2.5 billion at September 30, 2026, up 24% from a year earlier.
Adjusted EBITDA reached $240 million: Adjusted EBITDA was $240 million, against $176 million a year earlier.
Gross profit streams grew 27%: Non-GAAP subscription and fintech gross profit was $642 million, up 27%; the GAAP equivalent was $630 million, up 29%.
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
Q3 FY2026
Q2 FY2026
Q3 FY2025
On the quarter
On the year
Last 8 quarters
Operating cash flow
198
144
165
+37.5%
+20.0%
Capital expenditure
17.0
14.0
12.0
+21.4%
+41.7%
Free cash flow
181
130
153
+39.2%
+18.3%
Free cash flow margin
9.1%
6.8%
9.4%
Cash from investing
-30.0
-67.0
-4.0
Cash from financing
-38.0
-185
19.0
Depreciation and amortisation
12.0
12.0
13.0
0.0%
-7.7%
Share-based compensation
49.0
55.0
66.0
-10.9%
-25.8%
Buybacks
0.0
163
23.0
Diluted shares, weighted
592m
590m
609m
+0.3%
-2.8%
Shares outstanding at period end
581m
578m
588m
+0.5%
-1.2%
Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.
Balance sheet
$ million
Q3 FY2026
Q2 FY2026
Q3 FY2025
On the quarter
On the year
Last 8 quarters
Shareholders' equity
2,287
2,045
2,014
+11.8%
+13.6%
Debt
0.0
0.0
0.0
Operating lease liabilities
n/a
n/a
18.0
Other liabilities
1,089
1,136
939
-4.1%
+16.0%
Total liabilities and equity
3,376
3,181
2,971
+6.1%
+13.6%
Fixed assets
153
149
100
+2.7%
+53.0%
Goodwill
113
113
113
0.0%
0.0%
Intangible assets
10.0
11.0
16.0
-9.1%
-37.5%
Securities held for sale or to maturity
682
698
500
-2.3%
+36.4%
Cash and equivalents
1,203
1,015
1,357
+18.5%
-11.3%
Receivables
141
142
121
-0.7%
+16.5%
Inventory
244
217
104
+12.4%
+134.6%
Other assets
830
836
660
-0.7%
+25.8%
Total assets
3,376
3,181
2,971
+6.1%
+13.6%
Questions
What was Toast's revenue in Q3 FY2026?
Toast (TOST) reported revenue of $2.0 billion for Q3 FY2026, the quarter ended 30 September 2026, up 21.3% on the same quarter a year earlier.
How much did Toast earn in Q3 FY2026?
Net income for Q3 FY2026 was $169 million, up 61.0% on the year, and diluted earnings per share $0.29.
When did Toast report Q3 FY2026 results?
Toast filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 4 November 2026.
Each quarter as filed, linked to its filing. Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.
10-Q for the period ended 30 September 2026, filed 4 November 2026: the filing.