Toast (TOST) Cost of Revenue (2020 - 2026)
Toast (TOST) posted quarterly Cost of Revenue of $1.2 billion for Q1 2026, up 19.37% year-over-year from $991.0 million in Q1 2025, and down 2.23% quarter-over-quarter from $1.2 billion in Q4 2025.
Toast (TOST) Cost of Revenue (2020 - 2026) Analysis & Trends
Toast (TOST) has reported Cost of Revenue for 7 consecutive years, with $1.2 billion the latest figure, recorded in Q1 2026.
- In Q1 2026, Cost of Revenue rose 19.37% year-over-year to $1.2 billion; the TTM figure through Mar 2026 stood at $4.8 billion (up 20.76% YoY), while the FY2025 annual figure was $4.6 billion, up 20.95% from the prior year.
- Cost of Revenue eased to $1.2 billion in Q1 2026 per TOST's latest filing, from $1.2 billion in the prior quarter.
- Across five years, Cost of Revenue topped out at $1.2 billion in Q4 2025 and bottomed at $446.0 million in Q1 2022.
- Historically, Cost of Revenue has averaged $868.4 million across 5 years, with a median of $826.0 million in 2024.
- Annual changes were most pronounced in 2022 — Cost of Revenue soared 109.39% — and 2026, when it advanced 19.37%.
- Toast's Cost of Revenue stood at $610.0 million in 2022, then soared by 32.79% to $810.0 million in 2023, then grew by 24.07% to $1.0 billion in 2024, then rose by 20.4% to $1.2 billion in 2025, then slipped by 2.23% to $1.2 billion in 2026.
- Business Quant data shows TOST's Cost of Revenue at $1.2 billion in Q1 2026, $1.2 billion in Q4 2025, and $1.2 billion in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,576.39 Bn | 3,443.64 Bn | 60.48 Bn | 29.53 Bn |
| 2 | Palantir Technologies | 412.58 Bn | 403.17 Bn | 1.64 Bn | 296.87 Mn |
| 3 | Oracle | 407.66 Bn | 375.77 Bn | - | - |
| 4 | Palo Alto Networks | 299.27 Bn | 296.16 Bn | 2.03 Bn | 974.00 Mn |
| 5 | Fortinet | 115.83 Bn | 111.76 Bn | 1.64 Bn | 404.70 Mn |
| 6 | Cloudflare | 106.65 Bn | 102.48 Bn | 499.52 Mn | 196.54 Mn |
| 7 | Synopsys | 76.61 Bn | 74.41 Bn | 1.77 Bn | 637.38 Mn |
| 8 | CoreWeave | 51.53 Bn | 45.99 Bn | 1.70 Bn | 879.00 Mn |
| 9 | Block | 47.55 Bn | 41.12 Bn | 3.17 Bn | 3.45 Bn |
| 10 | Toast | 20.22 Bn | 18.51 Bn | 516.00 Mn | 1.39 Bn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 1.39 Bn |
| Jun 30, 2026 | 1.39 Bn |
| Mar 31, 2026 | 1.18 Bn |
| Mar 31, 2026 | 1.18 Bn |
| Dec 31, 2025 | 1.21 Bn |
| Dec 31, 2025 | 1.21 Bn |
| Sep 30, 2025 | 1.20 Bn |
| Sep 30, 2025 | 1.20 Bn |
| Jun 30, 2025 | 1.16 Bn |
| Jun 30, 2025 | 1.16 Bn |
| Mar 31, 2025 | 991.00 Mn |
| Mar 31, 2025 | 991.00 Mn |
| Dec 31, 2024 | 1.01 Bn |
| Dec 31, 2024 | 1.01 Bn |
| Sep 30, 2024 | 983.00 Mn |
| Sep 30, 2024 | 983.00 Mn |
| Jun 30, 2024 | 956.00 Mn |
| Jun 30, 2024 | 956.00 Mn |
| Mar 31, 2024 | 826.00 Mn |
| Mar 31, 2024 | 826.00 Mn |