Toast
Boston-based restaurant technology company that sells point-of-sale software, payment processing and hardware. Listed on the NYSE since 2021, it reported $6.15 billion in revenue for 2025.
Industry: Restaurant point-of-sale software and payments | Location: Boston, United States | Founded: 2011
About Toast
Toast, Inc. is a US technology company that sells restaurants a platform combining point-of-sale and management software, payment processing and hardware for dine-in, takeout and delivery orders. It is headquartered at 333 Summer Street in Boston's Seaport district, where it moved in early 2024, and had about 6,500 employees at the end of 2025.
The company was incorporated in Delaware in December 2011 as Opti Systems, Inc. and renamed Toast, Inc. in May 2012. Its founders, Aman Narang, Stephen Fredette and Jonathan Grimm, wrote in the 2021 prospectus that it began as an idea, formed over a meal in a local restaurant, for a mobile app to simplify restaurant payments. Fredette was chief executive from December 2011 to February 2015 and has been president since January 2024. Narang, previously co-president and chief operating officer, became chief executive in January 2024, when Mark Hawkins became chair of the board. Elena Gomez, formerly chief financial officer of Zendesk, has been Toast's chief financial officer since 2021 and also a president since February 2025.
Its hardware runs on Android and includes handheld and countertop devices sold as Flex and Tap, and in April 2023 it added table reservations. Toast says most of its revenue comes from customers in the United States and that it has limited experience with international customers; its research and development staff work across North America, Europe and Asia.
Toast listed its Class A shares on the New York Stock Exchange under the ticker TOST in September 2021, selling 21.7 million shares at $40 each, about $870 million, through underwriters including Goldman Sachs, Morgan Stanley and J.P. Morgan.
For 2025 the company reported revenue of $6.153 billion, up 24% from $4.96 billion in 2024, and GAAP net income of $342 million, compared with $19 million a year earlier. Gross payment volume rose 23% to $195.1 billion.
According to its February 2026 results, Toast ended 2025 with about 164,000 restaurant locations, 22% more than a year earlier, after adding a net 30,000 during the year, and with annualised recurring run-rate above $2 billion.
Leadership
- Aman Narang, Co-founder and Chief Executive Officer
- Stephen Fredette, Co-founder and President
- Jonathan Grimm, Co-founder
- Elena Gomez, President and Chief Financial Officer
- Mark Hawkins, Chairperson of the Board
- Jonathan Vassil, Chief Revenue Officer
- Brian Elworthy, General Counsel and Corporate Secretary