$TOST · Toast, Inc.
Toast reported Q3 FY2026 results with revenue of $1.981B (+21% YoY), net income of $169M ($0.29 diluted EPS), and Adjusted EBITDA of $240M. The company also announced President and CFO Elena Gomez will step down effective December 31, 2026, with SVP of Finance Michael Senno promoted to CFO effective January 1, 2027.
- Revenue of $1.981B, up 21% YoY from $1.633B in Q3 2025.
- Net income rose to $169M ($0.29 diluted EPS) vs $105M ($0.16) a year ago.
- ARR grew 24% to $2.5B; total locations up 21% to ~189,000.
- Adjusted EBITDA of $240M vs $176M YoY; free cash flow $181M vs $153M.
- CFO Elena Gomez resigns effective Dec 31, 2026; SVP Finance Michael Senno promoted to CFO.
Extended-hours trading shows TOST at $33.50, down 0.09% from the $33.53 regular close — essentially flat despite strong earnings, suggesting the CFO departure is tempering enthusiasm.
A CFO departure at a $17B+ fintech platform, even amid strong earnings and a planned internal succession, is a material governance event that investors will scrutinize.
Toast's 24% ARR growth and 27% recurring gross profit expansion reinforce its position as the dominant restaurant-tech platform. The launch of Toast IQ Team and Toast Fuel signals a push into AI-driven labor management and convenience retail, expanding TAM beyond core restaurant POS.
CFO transition risk: Elena Gomez, who led Toast through its 2021 IPO and 6x scaling, departs Dec 31. Successor Michael Senno is an internal promotion with deep institutional knowledge, but any CFO change at a high-growth company introduces execution uncertainty. Q4 guidance of $610M-$620M in non-GAAP subscription/FinTech gross profit implies sequential deceleration from Q3's $642M.