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Operating Expense Breakdown
Details core costs like R&D, marketing, and admin, offering insight into how efficiently the company runs and where it’s prioritizing investment.Toast is clearly reinvesting aggressively: sales & marketing has grown fastest, with R&D also ramping to fuel AI/product innovation and G&A showing episodic bumps—a pattern consistent with management’s push for record location adds, enterprise/international expansion and 500+ product enhancements. Management frames this as deliberate trade‑off: shorter paybacks (mid‑teens months) and higher ARR fueling margin expansion, but higher hardware costs, early‑stage economics in new TAMs and the S&M ramp are the principal risks that could blunt near‑term margin gains if growth slows.
Date | Sales and Marketing | Research and Development | General and Administrative |
|---|---|---|---|
Jun 30, 2026 | $166.00M | $109.00M | $89.00M |
Mar 31, 2026 | $156.00M | $97.00M | $84.00M |
Dec 31, 2025 | $153.00M | $97.00M | $84.00M |
Sep 30, 2025 | $144.00M | $102.00M | $102.00M |
Jun 30, 2025 | $141.00M | $91.00M | $79.00M |
Mar 31, 2025 | $133.00M | $84.00M | $79.00M |
Dec 31, 2024 | $130.00M | $93.00M | $78.00M |
Sep 30, 2024 | $119.00M | $89.00M | $80.00M |
Jun 30, 2024 | $115.00M | $87.00M | $75.00M |
Mar 31, 2024 | $107.00M | $83.00M | $74.00M |