Toast (TOST) Research & Development (2020 - 2026)
Toast's Research & Development was $109 million in Q2 2026, up 19.8% from $91 million a year earlier and up 12.4% from the prior quarter.
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Analysis
Toast (TOST) Research & Development (2020 - 2026) Analysis & Trends
On a trailing twelve-month basis, Toast's Research & Development was $405 million through Jun 30, 2026, up 13.4% year-over-year; for FY2025, it came in at $374 million, up 6.6% from FY2024.
- Research & Development shows a five-year compound annual growth rate of 28.0% (FY2020 to FY2025).
- In earlier years, Research & Development was $351 million in FY2024 (-2.0%), $358 million in FY2023 (+27.0%), $282 million in FY2022 (+73.0%) and $163 million in FY2021 (+49.5%).
- The Q2 2026 figure marks the highest quarterly Research & Development in data going back to Q3 2020.
- Compared with a year earlier, Research & Development has increased for six straight quarters, with growth averaging 7.7% over the last eight quarters.
- The best year-over-year quarter for Research & Development over five years was Q1 2022 (growth of 169.6%); the worst was Q2 2024 (a decline of 5.4%).
- Per Business Quant data, TOST's Research & Development in the three quarters before Q2 2026 was $97 million (Q1 2026), $97 million (Q4 2025) and $102 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Bryn | 945.00 Bn | 945.00 Bn | - | - |
| 2 | Veeva Systems | 45.35 Bn | 17.59 Bn | 695.95 Mn | 222.92 Mn |
| 3 | Samsara | 22.20 Bn | 18.97 Bn | 392.58 Mn | 102.56 Mn |
| 4 | Toast | 17.53 Bn | 10.20 Bn | 516.00 Mn | 109.00 Mn |
| 5 | Ptc | 15.47 Bn | 14.28 Bn | 490.47 Mn | 115.71 Mn |
| 6 | Trimble | 13.41 Bn | 12.48 Bn | 674.90 Mn | 177.10 Mn |
| 7 | Duolingo | 12.56 Bn | 7.73 Bn | 216.74 Mn | 92.20 Mn |
| 8 | Manhattan Associates | 11.77 Bn | 10.77 Bn | 168.33 Mn | 34.77 Mn |
| 9 | Costar | 10.95 Bn | 4.91 Bn | 728.00 Mn | 107.00 Mn |
| 10 | Bentley Systems | 9.44 Bn | 8.90 Bn | 336.74 Mn | 82.09 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 109.00 Mn |
| Mar 31, 2026 | 97.00 Mn |
| Dec 31, 2025 | 97.00 Mn |
| Sep 30, 2025 | 102.00 Mn |
| Jun 30, 2025 | 91.00 Mn |
| Mar 31, 2025 | 84.00 Mn |
| Dec 31, 2024 | 93.00 Mn |
| Sep 30, 2024 | 89.00 Mn |
| Jun 30, 2024 | 87.00 Mn |
| Mar 31, 2024 | 83.00 Mn |
| Dec 31, 2023 | 94.00 Mn |
| Sep 30, 2023 | 87.00 Mn |
| Jun 30, 2023 | 92.00 Mn |
| Mar 31, 2023 | 85.00 Mn |
| Dec 31, 2022 | 79.00 Mn |
| Sep 30, 2022 | 74.00 Mn |
| Jun 30, 2022 | 67.00 Mn |
| Mar 31, 2022 | 62.00 Mn |
| Dec 31, 2021 | 50.00 Mn |
| Sep 30, 2021 | 40.00 Mn |
API Access
Toast Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=TOST&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "TOST", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=TOST&period=max&api_key=YOUR_API_KEY");
const data = await res.json();