TO
TOST
TOST What Toast promised, and what happened
Guidance
What management said, and what became of it
27 of 27 judged targets kept · 12 open · verdicts reflect calls analysed to Jun 2026.
| Target | Original wording | Said | Latest call | Verdict |
|---|---|---|---|---|
| Adjusted EBITDA margin -- core (ex-new-TAM) segment target | 40% | Sep 2025 | The margins in our core business are already over 40%, and we expect the margin to continue to scale and be meaningfully higher longer term. | Achieved |
| Full-year adjusted EBITDA guidance | $775 million to $795 million | Dec 2025 | adjusted EBITDA to be $805 million to $825 million | Revised Up |
| Adjusted EBITDA margin -- company-wide medium/long-term target | 30% to 35% (medium-term) | Sep 2024 | That keeps us on a path to 40% plus long-term adjusted EBITDA margins with the timing firmly in our control. | On Track |
The full ledger
Open Toast’s full ledger
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The rest of the ledger
Pro opens all 39 tracked commitments for Toast
Above is what the last two calls moved. Pro adds every quarter's revision, the source quote behind each one, and the topics management has stopped answering.