Toast posted second-quarter 2026 results that exceeded expectations, adding a record 9,500 net new locations to reach approximately 180,000 total locations, up 22% year over year. Annualized Recurring Run-Rate grew 25% to $2.4 billion, while recurring gross profit streams increased 28% to $595 million on a non-GAAP basis. Adjusted EBITDA reached $221 million, including a $10 million one-time tariff refund, and GAAP operating income was $152 million, a 26% margin. The company raised its full-year 2026 recurring gross profit guidance to $2.325 billion to $2.355 billion, representing 23% to 25% growth, and adjusted EBITDA guidance to $805 million to $825 million, reinvesting the tariff refund into growth initiatives. CEO Aman Narang highlighted the rapid scaling of the Toast IQ Grow marketing agent, on track to become the fastest product to reach $10 million in ARR, and expansion into new markets including enterprise, international, and retail, with new-market ARR projected to nearly double to $200 million in 2026.
Toast IncToast beat Q2 expectations, raised full-year guidance, and reported strong growth metrics.
