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News articleSeeking Alpha· February 13, 2026

Toast outlines 20%-22% recurring gross profit growth for 2026 while advancing AI-driven platform strategy

View original at seekingalpha.com
Toast outlines 20%-22% recurring gross profit growth for 2026 while advancing AI-driven platform strategy Earnings Call Insights: Toast, Inc…
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  • Toast is a lot more than just a software provider for customers, evolving into a platform

    80% confidence
  • Toast guidance includes approximately 150 basis points of negative impact from higher memory chip costs for hardware

    80% confidence
  • Toast achieved recurring gross profits growth of 33% in 2025

    80% confidence
  • Toast expects Q1 2026 adjusted EBITDA of $160 million to $170 million

    80% confidence
  • Toast expanded adjusted EBITDA margin to 34% in 2025

    80% confidence
  • GAAP operating income was $292 million in 2025, up from just $16 million a year ago

    80% confidence
  • Toast expects another year of record net location adds and consistent ARPU growth

    80% confidence
  • Net location adds increased every quarter versus a year ago in 2025

    80% confidence
  • Toast ended 2025 with 164,000 locations

    80% confidence
  • Customers value ToastIQ as a copilot that can be queried for faster task execution

    80% confidence
  • The new TAM should grow further, which is why Toast has confidence that net add growth in 2026 should be even higher than 2025

    80% confidence
  • ToastIQ not only generates reports and insights about restaurant performance, it executes tasks directly in Toast ranging from menu management to inventory updates

    80% confidence
  • Toast expects adjusted EBITDA of $775 million to $795 million for full year 2026

    80% confidence
  • Toast added over 30,000 net locations to the Toast platform in 2025

    80% confidence
  • Toast's margin framework targeting 40% margins over the long term remains unchanged

    80% confidence
  • ARR grew 26% in 2025

    80% confidence
  • ToastIQ and the adoption of ToastIQ is really the foundation for AI strategy

    80% confidence
  • Less than 4 months post launch, over half of all Toast locations have used ToastIQ, collectively sending over 8 million queries

    80% confidence
  • 2026 reflects Toast's conviction behind new TAMs

    80% confidence
  • Toast now powers 20% of the U.S. SMB and mid-market restaurant segment

    80% confidence
  • Emerging TAMs across retail, international and enterprise doubled ARR in 2025

    80% confidence
  • AI is an opportunity for Toast to lean in even further and strengthen competitive moat

    80% confidence
  • Toast expects 20% to 22% growth in recurring gross profit streams for full year 2026

    80% confidence
  • Toast delivered adjusted EBITDA of $633 million and free cash flow of $608 million in 2025

    80% confidence
  • Toast's U.S. market share has nearly doubled over the past three years

    80% confidence
  • Core SaaS ARPU is growing faster than the total company because new TAMs today have lower SaaS ARPUs but are expected to grow as they scale

    80% confidence
  • Toast expects Q1 2026 total fintech and subscription gross profit growth of 22% to 24% year-over-year

    80% confidence

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Q4 2026 Biotech Catalyst Window: ESMO Data, the Ivonescimab PDUFA and Small-Cap Delistings
Mid-October to November 2026 is a dense catalyst period for clinical-stage biotech. Positive late-stage readouts (ALOFT-IPF, TELIGAN, MIUDELLA, the duvakitug extension) and the ESMO 2026 presentations lead up to the FDA's 14 November PDUFA date for the ivonescimab BLA. At the opposite end of the market, Spago Nanomedical is moving to delist from Nasdaq First North, which shows how hard it is for micro-cap developers to fund themselves. Value is concentrating in companies with late-stage data and near-term regulatory outcomes.
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EPKINLY Regulatory-Clinical Success Cascade
High probability of expanded label indications, additional combination approvals, and competitive positioning strength in follicular lymphoma market. Predicts positive commercial uptake and potential accelerated review for related indications.
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Where sources disagree
Ford Motor Company
Both facts give cash for Ford Motor Company at the same point in time (2025-12-31; FY 2025 year-end and Q4 2025 year-end are the same date). Both are labelled USD, but the values are 23,356,000,000 and 23.356, which cannot both be true in USD. The two numbers agree once the second is read as billions (23.356 bn = 23,356,000,000), so the economic content is consistent and the conflict is a unit/scale error in the Q4 2025 record. The period is not the reason for the conflict: a Q4 and an FY figure at the same year-end date should match.
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