Below are the financial statements of Toast, including the income statement and balance sheet for the company's latest fiscal year. All figures are accurate, verifiable, and fully traceable to the original annual filing where disclosed.
| All figures in millions of USD | 2024 | 2023 | 2022 |
|---|---|---|---|
| Revenue | — | — | — |
| Subscription services | 706a | 500a | 324a |
| Financial technology solutions | 4,053a | 3,189a | 2,268a |
| Hardware and professional services | 201a | 176a | 139a |
| Total revenue | 4,960a | 3,865a | 2,731a |
| Costs of revenue | — | — | — |
| Subscription services | -219a | -166a | -112a |
| Financial technology solutions | -3,175a | -2,503a | -1,792a |
| Hardware and professional services | -371a | -357a | -311a |
| Amortization of acquired intangible assets | -5a | -5a | -5a |
| Total costs of revenue | -3,770a | -3,031a | -2,220a |
| Gross profit | 1,190a | 834a | 511a |
| Operating expenses | — | — | — |
| Sales and marketing | -470a | -401a | -319a |
| Research and development | -351a | -358a | -282a |
| General and administrative | -307a | -362a | -294a |
| Restructuring expenses | -46a | 0a | 0a |
| Total operating expenses | -1,174a | -1,121a | -895a |
| Income (loss) from operations | 16a | -287a | -384a |
| Other income (expenses) | — | — | — |
| Interest income, net | 42a | 37a | 11a |
| Change in fair value of warrant liability | -49a | 3a | 95a |
| Other income, net | 13a | 3a | 1a |
| Income (loss) before income taxes | 22a | -244a | -277a |
| Income tax (expense) benefit | -3a | -2a | -2a |
| Net income (loss) | 19a | -246a | -275a |
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