Toast's second quarter revenue beat estimates, driven by record new location additions and raised FY2026 guidance.

Toast reported second quarter 2026 revenue of $1.91 billion and diluted EPS of $0.26, beating analyst consensus on both the top and bottom lines. The company also raised its full-year guidance for recurring gross profit and Adjusted EBITDA.

Key Highlights

• Added a record 9,500 net new locations in the quarter, significantly ahead of the ~7,000 consensus estimate, bringing total locations to approximately 180,000.
• Annualized recurring run-rate (ARR) grew 25% year-over-year to $2.4 billion as of June 30, 2026.
• Gross Payment Volume (GPV) increased 22% year-over-year to $60.7 billion.
• Raised full-year 2026 guidance for Non-GAAP subscription services and financial technology solutions gross profit to a range of $2.325 billion to $2.355 billion, up from prior guidance.