Toast Inc (TOST) Gross Payment Volume

Measures the total dollar value of transactions processed, indicating the scale of operations and market reach, as well as potential revenue growth.

Toast’s GPV growth is being driven primarily by rapid location adds and share gains rather than higher spend per site—management confirmed strong YoY GPV growth (~22% in Q4) and record net location additions with more expected in 2026. That network-driven volume supports fintech revenue and recurring gross-profit expansion, but modest GPV-per-location pressure and looming hardware cost headwinds (memory chips, tariffs) could compress payments economics or force reinvestment, limiting near-term margin upside.