Global Payments (NYSE:GPN) Q4 2025 Earnings call February 18, 2026 08:00 AM ET Speaker12Ladies and gentlemen, thank you for standing by, and welcome to Global Payments' fourth quarter and full year 2025 earnings conference call. At this time, all participants are in a listen-only mode. Later, we will open the lines for questions and answers. As a reminder, today's conference will be recorded. At this time, I would like to turn the conference over to your host, Senior Vice President, Investor Relations, Nath ...

Company Overview - Toast, Inc. (NYSE:TOST) is a significant player in the restaurant technology sector, providing point-of-sale and management systems to enhance operations for food service businesses [1] Price Target and Institutional Interest - Harshita Rawat from Bernstein has set a price target of $39 for TOST, indicating a potential upside of 42.7% from its current price of $27.33 [2][6] - ABN Amro Investment Solutions has increased its stake in Toast by 14.6%, now holding 157,430 shares valued at approximately $5.7 million, reflecting growing institutional interest [2][6] Additional Institutional Investments - Other institutional investors, including Quent Capital LLC, RiverPark Advisors LLC, and Alpine Bank Wealth Management, have acquired new positions in TOST, each valued at around $30,000, indicating increasing confidence in the company [3] - Wolff Wiese Magana LLC has also taken a new stake in TOST, further demonstrating the rising interest among investors [3] Stock Performance - The current stock price of TOST is $27.33, reflecting a 4.55% increase or $1.19, with fluctuations between $26.71 and $28.50 throughout the day [4] - Over the past year, TOST has experienced a high of $49.66 and a low of $25.91, showcasing its market volatility [4] Market Capitalization and Trading Volume - Toast's market capitalization is approximately $16.1 billion, with a trading volume of 31.3 million shares today, highlighting the company's significant presence in the restaurant technology sector [5]

Core Viewpoint - Toast, Inc. has received positive attention from analysts and institutional investors, indicating a bullish outlook on its stock performance and growth potential [1][2][6]. Group 1: Analyst Upgrades - Bernstein upgraded Toast's stock from Market Perform to Outperform, with the stock priced at $27.33 during this upgrade, reflecting a positive sentiment towards the company's future [1][6]. Group 2: Institutional Investment - ABN Amro Investment Solutions increased its investment in Toast by 14.6%, now holding 157,430 shares valued at approximately $5.7 million, showcasing confidence in the company's growth potential [2]. - Other institutional investors, including Quent Capital LLC, RiverPark Advisors LLC, and Alpine Bank Wealth Management, have acquired new positions in Toast, with investments ranging from $27,000 to $30,000, indicating a growing institutional interest [3][6]. Group 3: Stock Performance - Toast's stock price is currently $27.33, marking a 4.55% increase or $1.19 rise, with fluctuations between a low of $26.71 and a high of $28.50 today [4]. - Over the past year, Toast's stock has experienced a high of $49.66 and a low of $25.91, indicating some volatility in its market performance [4]. - The company's market capitalization stands at approximately $16.1 billion, highlighting its significant presence in the market, with a trading volume of 31.3 million shares today [5].

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Core Insights - Toast, Inc. has seen significant changes in institutional ownership, with several hedge funds increasing their stakes in the company, indicating strong institutional interest in TOST [1][4] - Analysts have mixed sentiments regarding Toast's stock, with several firms lowering their price targets while maintaining positive ratings, reflecting a cautious outlook on the company's performance [2][5] - The company reported Q4 revenue of $1.63 billion, a 22% year-over-year increase, but missed EPS expectations, which may affect short-term investor sentiment [5][8] Institutional Ownership - NewEdge Advisors LLC increased its holdings in Toast by 1,555.5% in Q1, now owning 17,432 shares valued at $578,000 after purchasing an additional 16,379 shares [1] - Vanguard Personalized Indexing Management LLC raised its stake by 12.1% in Q2, owning 32,966 shares worth $1,460,000 after buying 3,558 additional shares [1] - Envestnet Asset Management Inc. grew its position by 37.4% in Q3, owning 617,810 shares valued at $22,556,000 [4] Analyst Ratings and Price Targets - Wells Fargo cut its target price from $47.00 to $36.00 while maintaining an "overweight" rating [2] - Needham & Company LLC decreased its price target from $60.00 to $35.00 but kept a "buy" rating [2] - The consensus rating for Toast is "Moderate Buy" with a target price of $41.18 according to MarketBeat.com [2] Financial Performance - Toast's Q4 revenue was $1.63 billion, slightly above the consensus estimate of $1.62 billion, marking a 22% increase year-over-year [5][8] - The company reported an EPS of $0.16, missing the expected $0.24, which may negatively impact investor sentiment [5][8] - Toast's return on equity was 18.86% with a net margin of 5.56% for the quarter [8] Share Buyback and Market Sentiment - The board approved a share buyback plan, although no specific dollar amount was disclosed, indicating intent without immediate capital deployment details [5][9] - Analysts remain supportive of Toast's long-term growth potential despite recent price target cuts, suggesting continued institutional conviction [5]

Toast (TOST) reported $1.63 billion in revenue for the quarter ended December 2025, representing a year-over-year increase of 22.1%. EPS of $0.23 for the same period compares to $0.05 a year ago.The reported revenue compares to the Zacks Consensus Estimate of $1.62 billion, representing a surprise of +0.75%. The company delivered an EPS surprise of -5.47%, with the consensus EPS estimate being $0.24.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how t ...

Toast (NYSE:TOST) Q4 2025 Earnings call February 12, 2026 05:00 PM ET Company ParticipantsAdam Frisch - Senior Managing DirectorAman Narang - CEODominic Ball - Equity Research AssociateElena Gomez - CFOMatt Coad - DirectorMichael Senno - Senior VP of FinanceTimothy Chiodo - Managing DirectorWill Nance - VPConference Call ParticipantsDan Dolev - Senior AnalystJosh Baer - Executive Director and Software Equity Research AnalystTien-tsin Huang - Senior AnalystOperatorGood afternoon. My name is Tiffany, and I wi ...

Financial Data and Key Metrics Changes - Recurring gross profits increased by 33% in 2025, with adjusted EBITDA margins expanding to 34% [5][26] - Annual recurring revenue (ARR) grew by 26%, reaching over $2 billion, while payment volume hit $195 billion [26] - GAAP operating income rose to $292 million from $16 million a year ago, driven by strong adjusted EBITDA and tight management of stock-based compensation [27][30] Business Line Data and Key Metrics Changes - SaaS ARR and subscription revenue each grew by 28% year-over-year, with SaaS ARPU in the core growing even faster than total SaaS ARPU [29] - Subscription gross profit increased by 33%, with SaaS gross margin expanding by 300 basis points year-over-year to 80% in Q4 [30] - Payments ARR grew by 24%, and fintech gross profit increased by 25% in Q4 [30] Market Data and Key Metrics Changes - The company added a record 30,000 net locations in 2025, ending the year with 164,000 locations [26] - The SaaS net retention rate remained healthy at 109% in 2025, supported by upsell and location expansion from existing customers [30] - The company continues to gain market share in its core U.S. SMB and mid-market restaurants, now powering 20% of these restaurants [8][9] Company Strategy and Development Direction - The company aims to double its market share and ARR over time, with a focus on growing market share in its core and demonstrating that new markets will be material growth drivers [8][12] - Investments in product differentiation and AI are prioritized to enhance customer adoption and drive differentiation [18][21] - The company plans to launch new products, including a drive-thru solution, to capture additional market segments [72] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining high growth for the next 5-10 years, with a focus on reinvesting in growth initiatives [38] - The company anticipates 20%-22% growth in recurring gross profit streams and adjusted EBITDA of $775 million-$795 million for 2026 [36] - Management highlighted the importance of disciplined capital allocation while expanding margins over time [24][35] Other Important Information - The company has repurchased approximately 8 million shares for $235 million since the inception of its buyback authorization in 2024 [35] - The company is experiencing cost pressures from higher memory chip costs, which are expected to impact margins in the second half of 2026 [36][37] Q&A Session Summary Question: SaaS ARR per location and enterprise metrics - Management confirmed confidence in mid-single-digit SaaS ARPU growth for 2026, with core SaaS ARPU growing faster than total company metrics [41][43] Question: Net adds and new verticals contribution - Management indicated that net add growth in 2026 is expected to be higher than in 2025, with new TAMs contributing significantly to this growth [47][49] Question: AI disruption and competitive landscape - Management views AI as an opportunity to enhance the platform and drive innovation rather than a threat, emphasizing the unique value Toast provides [50][54] Question: R&D investment and margin framework - Management confirmed that the margin framework allows for increased R&D investment to capitalize on AI opportunities while targeting long-term margin goals [58][62] Question: Drive-through product rollout - Management stated that the upcoming drive-through product will open up new market opportunities, particularly in enterprise [72][73]

Toast (NYSE:TOST) Q4 2025 Earnings call February 12, 2026 05:00 PM ET Speaker8Good afternoon. My name is Tiffany, and I will be your conference operator today. At this time, I would like to welcome everyone to Toast's fourth quarter and full year 2025 earnings conference call. Today's call will be 45 minutes. I'll now turn the call over to Michael Senno, Senior Vice President of Finance. You may begin your conference.Speaker7Thank you, operator. Welcome to Toast's earnings conference call for the fourth qua ...

Toast stock is testing lower boundaries. Why did TOST hit a new low?Toast Beats Estimates In Q4Q4 Revenue: $1.63 billion, versus estimates of $1.62 billionQ4 EPS: 16 cents, versus estimates of 13 centsAnnualized recurring run-rate (ARR) grew 26% to over $2 billion as of Dec. 31, 2025. Gross Payment Volume (GPV) increased 22% year-over-year to $51.4 billion.Toast said total locations increased 22% year-over-year to approximately 164,000 after adding 30,000 locations in 2025. “We have momentum across the busi ...