Toast Inc (NYSE:TOST) shares are trading lower on Friday following first-quarter results reported on Thursday's after-hours session.

Toast Beats Estimates In Q1

Revenue: $1.630 billion, versus estimates of $1.629 billion

EPS: 20 cents, versus estimates of 15 cents

Key Metrics

Annualized recurring run-rate (ARR) grew 26% year over year (Y/Y) to $2.2 billion as of March 31, 2026. Gross Payment Volume (GPV) increased 22% Y/Y to $51.3 billion.

Subscription services and financial technology adjusted gross profit rose 27% Y/Y to $529 million.

Operating income jumped to $110 million from $43 million a year earlier, and net income more than doubled to $126 million from $56 million.

Adjusted EBITDA rose to $179 million versus $133 million in the prior-year period.

Cash generation also strengthened, with operating cash flow of ...