Toast Stock Drops 15% After Q1 Earnings—Why TOST’s Raised 2026 Outlook Wasn’t Enough
Toast shares dropped 15% Friday after the company raised its 2026 adjusted EBITDA outlook and reported a 22% jump in first-quarter revenue to $1.63 billion. Net income more than doubled to $126 million, while annualized recurring run-rate climbed 26% to $2.2 billion. The stock fell as investors focused on hardware costs and a lower-than-expected earnings per share.