Toast (TOST) Research & Development (2020 - 2026)
Toast (TOST) posted quarterly Research & Development of $156.0 million for Q1 2026, up 17.29% year-over-year from $133.0 million in Q1 2025, and up 60.82% quarter-over-quarter from $97.0 million in Q4 2025.
Toast (TOST) Research & Development (2020 - 2026) Analysis & Trends
Toast (TOST) has reported Research & Development for 7 consecutive years, with $156.0 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Research & Development rose 17.29% year-over-year to $156.0 million; the TTM figure through Mar 2026 stood at $496.0 million (down 4.8% YoY), while the FY2025 annual figure was $374.0 million, down 20.43% from the prior year.
- Research & Development improved to $156.0 million in Q1 2026 per TOST's latest filing, from $97.0 million in the prior quarter.
- Across five years, Research & Development topped out at $212.0 million in Q4 2024 and bottomed at $67.0 million in Q2 2022.
- Historically, Research & Development has averaged $105.8 million across 5 years, with a median of $94.0 million in 2023.
- Annual changes were most pronounced in 2022 — Research & Development soared 132.0% — and 2025, when it tumbled 54.25%.
- Toast's Research & Development stood at $116.0 million in 2022, then slipped by 18.97% to $94.0 million in 2023, then jumped by 125.53% to $212.0 million in 2024, then sank by 54.25% to $97.0 million in 2025, then jumped by 60.82% to $156.0 million in 2026.
- Business Quant data shows TOST's Research & Development at $156.0 million in Q1 2026, $97.0 million in Q4 2025, and $102.0 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,576.39 Bn | 3,443.64 Bn | 60.48 Bn | 10.00 Bn |
| 2 | Palantir Technologies | 412.58 Bn | 403.17 Bn | 1.64 Bn | 339.50 Mn |
| 3 | Oracle | 407.66 Bn | 375.77 Bn | - | 4.01 Bn |
| 4 | Palo Alto Networks | 299.27 Bn | 296.16 Bn | 2.03 Bn | 1.16 Bn |
| 5 | Fortinet | 115.83 Bn | 111.76 Bn | 1.64 Bn | 669.10 Mn |
| 6 | Cloudflare | 106.65 Bn | 102.48 Bn | 499.52 Mn | 276.12 Mn |
| 7 | Synopsys | 76.61 Bn | 74.41 Bn | 1.77 Bn | 396.38 Mn |
| 8 | CoreWeave | 51.53 Bn | 45.99 Bn | 1.70 Bn | 60.00 Mn |
| 9 | Block | 47.55 Bn | 41.12 Bn | 3.17 Bn | 664.96 Mn |
| 10 | Toast | 20.22 Bn | 18.51 Bn | 516.00 Mn | 166.00 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 166.00 Mn |
| Mar 31, 2026 | 156.00 Mn |
| Dec 31, 2025 | 97.00 Mn |
| Sep 30, 2025 | 102.00 Mn |
| Jun 30, 2025 | 141.00 Mn |
| Mar 31, 2025 | 133.00 Mn |
| Dec 31, 2024 | 212.00 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 | 100.00 Mn |
| Jun 30, 2023 | 92.00 Mn |
| Mar 31, 2023 | 85.00 Mn |
| Dec 31, 2022 | 116.00 Mn |
| Sep 30, 2022 | 74.00 Mn |
| Jun 30, 2022 | 67.00 Mn |
| Mar 31, 2022 | 71.00 Mn |
| Dec 31, 2021 | 50.00 Mn |
| Sep 30, 2021 | 40.00 Mn |