Toast, Inc., headquartered in Boston, Massachusetts, is a leading publicly traded technology company specializing in cloud-based software, hardware, and financial services for the restaurant industry. Founded in 2011 by Aman Narang, Steve Fredette, and Jonathan Grimm, Toast has revolutionized restaurant operations through an end-to-end platform that integrates point-of-sale, payments, digital ordering, labor management, and more into a unified ecosystem.
Core Business and Offerings
Toast provides a comprehensive suite of tools and services tailored to restaurants of all sizes—ranging from quick-service outlets to full-service chains. Their flagship offerings include:
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Restaurant POS Systems:
- Toast POS: All-in-one platform for order-taking and payments
- Toast Go: Mobile handheld POS device for tableside service
- Toast Flex: Configurable terminal for front-of-house operations
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Online Ordering & Delivery:
- Toast Online Ordering: Direct-to-customer ordering via web and mobile
- Toast Delivery Services: Integration with delivery drivers and third-party logistics
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Payments & Financing:
- Toast Payments: Built-in payment processing with reporting and analytics
- Toast Capital: Financing for restaurants based on sales data
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Marketing & Loyalty:
- Email and SMS marketing automation
- Digital and physical gift card programs
- Loyalty rewards system integration
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Team Management:
- Payroll and HR tools
- Staff scheduling and shift management
- Tip pooling and distribution
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Restaurant Hardware:
- Self-order kiosks
- Kitchen Display Systems (KDS)
- Handheld POS devices and contactless card readers
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Inventory & Accounting:
- xtraCHEF by Toast: Inventory tracking, vendor management, and recipe costing
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Analytics & Insights:
- Real-time sales reporting and benchmarking tools
- Custom dashboards for performance monitoring
Toast's platform is accessible via a SaaS subscription model, allowing restaurants to scale tools as their needs evolve.
Specialisation and Core USP
Toast’s core strength lies in its ability to integrate front-of-house, back-of-house, and guest engagement tools into one seamless, cloud-based ecosystem. Key differentiators include:
- Restaurant-specific engineering and product design
- Vertical integration of hardware and software
- Deep insights through aggregated restaurant benchmarks
- Open API for third-party app development and integration
The company’s cloud-native architecture ensures real-time data synchronization, minimal downtime, and the ability to update remotely without service interruption.
Financial and Operational Insights
Toast, Inc. is listed on the New York Stock Exchange under the ticker symbol TOST. As of its most recent 2023 financial disclosures:
- Annual Revenue (2023): $1.06 billion, a 39% year-over-year increase
- Gross Payment Volume (GPV): $101 billion, up 41% from the previous year
- Active Locations: 99,000+ restaurant locations using Toast globally
- R&D Investment: $250+ million annually to drive innovation in restaurant tech
Toast’s revenue model is a combination of SaaS subscriptions, payment processing fees, hardware sales, and value-added services such as capital and insurance offerings.
Shipment and Export Activity
Although primarily focused on the U.S. market, Toast has expanded operations to Canada, Ireland, and the UK, focusing on localized versions of its products with GDPR compliance and region-specific taxation tools.
Toast provides:
- Direct shipping of POS terminals and KDS units
- Installation and onboarding via certified implementation teams
- Remote updates, diagnostics, and customer support through its cloud architecture
Target Market
Toast serves a diverse range of restaurant businesses including:
- Quick-Service Restaurants (QSRs)
- Full-Service Restaurants and Fine Dining
- Bars and Nightclubs
- Cafés and Coffee Chains
- Hotel and Hospitality Dining
- Multi-location and Franchise Operators
Customers typically range from single-location operators to enterprises with 50+ outlets, with flexible pricing tiers starting from $0/month (starter plans) to enterprise custom pricing.
Capabilities
Toast’s operational strengths include:
- In-house hardware manufacturing and quality control
- 24/7 live customer support and onboarding specialists
- Partner ecosystem of 150+ integrations, including DoorDash, Grubhub, QuickBooks, and 7shifts
- A robust API environment for custom workflows and data integrations
Toast also maintains a Toast Community Forum and the Toast University for training staff and operators.
Certifications and Compliance
Toast adheres to rigorous standards including:
- PCI DSS Level 1 Compliance
- SOC 2 Type II Certification for data security and operational controls
- GDPR and CCPA-compliant infrastructure for international users
- Hardware certified by EMVCo and compliant with major card networks
The company also offers fraud detection tools and security analytics as part of its Toast Payments platform.
Customer Testimonials
Restaurants across the U.S. have endorsed Toast for its transformative impact. A Boston-based bistro shared:
“With Toast, we cut our order-entry time in half and saw a 22% increase in table turnover. The insights helped us optimize menu design and labor schedules.”
Another QSR operator stated:
“Toast Go lets our servers take orders and process payments without leaving the floor. It's streamlined our operations and enhanced our guest experience.”
Major Achievements
- IPO on the New York Stock Exchange in September 2021, raising over $870 million
- Named Best POS for Restaurants by G2, Capterra, and Restaurant Business Online
- Acquired xtraCHEF to expand into food cost and vendor analytics
- Ranked #1 in Restaurant Technology by Fast Company in 2022
- Launched Toast for Hotel Restaurants to expand vertical reach
With a mission to "empower the restaurant community to delight guests, do what they love, and thrive," Toast, Inc. continues to reshape how the foodservice industry leverages technology to grow sustainably and serve efficiently.
