Toast (TOST) Operating Expenses (2020 - 2026)
Toast (TOST) posted quarterly Operating Expenses of $337.0 million for Q1 2026, up 11.22% year-over-year from $303.0 million in Q1 2025, and little changed quarter-over-quarter from $338.0 million in Q4 2025.
Toast (TOST) Operating Expenses (2020 - 2026) Analysis & Trends
Toast (TOST) has reported Operating Expenses for 7 consecutive years, with $337.0 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Operating Expenses rose 11.22% year-over-year to $337.0 million; the TTM figure through Mar 2026 stood at $1.3 billion (up 13.81% YoY), while the FY2025 annual figure was $1.3 billion, up 10.82% from the prior year.
- Operating Expenses held at $337.0 million in Q1 2026 per TOST's latest filing, from $338.0 million in the prior quarter.
- Across five years, Operating Expenses topped out at $348.0 million in Q3 2025 and bottomed at $190.0 million in Q1 2022.
- Historically, Operating Expenses has averaged $284.1 million across 5 years, with a median of $288.0 million in 2023.
- Annual changes were most pronounced in 2022 — Operating Expenses surged 156.76% — and 2024, when it dropped 2.43%.
- Toast's Operating Expenses stood at $257.0 million in 2022, then rose by 9.73% to $282.0 million in 2023, then rose by 6.74% to $301.0 million in 2024, then grew by 12.29% to $338.0 million in 2025, then dropped by 0.3% to $337.0 million in 2026.
- Business Quant data shows TOST's Operating Expenses at $337.0 million in Q1 2026, $338.0 million in Q4 2025, and $348.0 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,576.39 Bn | 3,443.64 Bn | 60.48 Bn | 12.28 Bn |
| 2 | Palantir Technologies | 412.58 Bn | 403.17 Bn | 1.64 Bn | 726.59 Mn |
| 3 | Oracle | 407.66 Bn | 375.77 Bn | - | 13.05 Bn |
| 4 | Palo Alto Networks | 299.27 Bn | 296.16 Bn | 2.03 Bn | 2.21 Bn |
| 5 | Fortinet | 115.83 Bn | 111.76 Bn | 1.64 Bn | 953.90 Mn |
| 6 | Cloudflare | 106.65 Bn | 102.48 Bn | 499.52 Mn | 705.21 Mn |
| 7 | Synopsys | 76.61 Bn | 74.41 Bn | 1.77 Bn | 1.57 Bn |
| 8 | CoreWeave | 51.53 Bn | 45.99 Bn | 1.70 Bn | 2.62 Bn |
| 9 | Block | 47.55 Bn | 41.12 Bn | 3.17 Bn | 2.72 Bn |
| 10 | Toast | 20.22 Bn | 18.51 Bn | 516.00 Mn | 364.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 364.00 Mn |
| Mar 31, 2026 | 337.00 Mn |
| Dec 31, 2025 | 338.00 Mn |
| Sep 30, 2025 | 348.00 Mn |
| Jun 30, 2025 | 312.00 Mn |
| Mar 31, 2025 | 303.00 Mn |
| Dec 31, 2024 | 301.00 Mn |
| Sep 30, 2024 | 288.00 Mn |
| Jun 30, 2024 | 281.00 Mn |
| Mar 31, 2024 | 305.00 Mn |
| Dec 31, 2023 | 282.00 Mn |
| Sep 30, 2023 | 285.00 Mn |
| Jun 30, 2023 | 288.00 Mn |
| Mar 31, 2023 | 266.00 Mn |
| Dec 31, 2022 | 257.00 Mn |
| Sep 30, 2022 | 236.00 Mn |
| Jun 30, 2022 | 212.00 Mn |
| Mar 31, 2022 | 190.00 Mn |
| Dec 31, 2021 | 189.00 Mn |
| Sep 30, 2021 | 138.00 Mn |