Listopedia

Toast

Restaurant-specific cloud POS and payments platform, the largest by location count

Overview

Toast is a cloud-based POS and payments platform built specifically for restaurants and food and beverage retailers. The company was incorporated in Delaware in December 2011 as Opti Systems, Inc., renamed Toast, Inc. in May 2012, and is headquartered at 333 Summer Street, Boston[1]. It is listed on the New York Stock Exchange.

Toast is the largest restaurant-focused vendor by published scale. It reported approximately 164,000 locations at the end of 2025, processing about US$195 billion in gross payment volume over the year, and approximately 189,000 locations at 30 September 2026, up 21% year on year, with US$225 billion of trailing-twelve-month GPV[1][2]. Revenue reached US$6,153 million in 2025, of which US$5,037 million came from financial technology solutions, mostly payment processing, and US$936 million from subscription software[1]. Annualised recurring run-rate stood at US$2,047 million at the end of 2025[1].

The platform spans front-of-house ordering, handhelds, kitchen display, online ordering, payroll and team management, marketing and loyalty, and it also serves hybrid restaurant-retail operations from a single POS[1]. Its main limitations are geographic and commercial: Toast earned no material revenue outside the United States in 2025, and its revenue model depends on customers using Toast payments[1]. Toast’s pricing page could not be retrieved for this review, so no plan prices are given here.

Toast features

  • Restaurant-specific order entry, table and seat management
  • Toast Go 3 handhelds with optional cellular backup
  • Kitchen display system and online ordering
  • Payroll and team management modules
  • Remote device updates and fleet monitoring
  • Combined restaurant and food-retail POS
  • Restaurant POS and kitchen displays
  • Handheld ordering devices

Toast pricing

Toast publishes plans on its website, but the pricing page returned an access error during this review, so prices are not listed. Toast's filings describe pricing and packaging designed to offer entry points ranging from a single product upwards. Payment processing through Toast is integral to the model.

Toast strengths and limitations

Strengths

  • Largest restaurant-specific installed base, about 189,000 locations
  • Broad suite covering front of house, kitchen, payroll and marketing
  • Handhelds with optional cellular backup for patios and outdoor service
  • Serves both restaurants and food retail from one POS
  • Restaurant-specific workflows
  • Competitive card-present rate with owned hardware

Limitations

  • Little presence outside the US; no material non-US revenue in 2025
  • Business model depends on Toast payment processing
  • Pricing page not openly accessible to automated review
  • Hardware and professional services run at a gross loss per filings
  • Multi-year contracts
  • Paid installation

Appears in

Toast alternatives and competitors

Alternatives to Toast: companies ranked in the same lists.

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