Core Insights - Toast's stock is currently testing lower boundaries, hitting a new low due to market reactions following its earnings report [1] Financial Performance - Toast reported a Q4 revenue of $1.63 billion, slightly above estimates of $1.62 billion [5] - The company achieved a Q4 EPS of 16 cents, exceeding estimates of 13 cents [5] - The annualized recurring run-rate (ARR) grew by 26% to over $2 billion as of December 31, 2025 [2] - Gross Payment Volume (GPV) increased by 22% year-over-year to $51.4 billion [2] Business Growth - Total locations increased by 22% year-over-year to approximately 164,000, with an addition of 30,000 locations in 2025 [2] - The CEO of Toast, Aman Narang, highlighted momentum across the business, including scaling the core restaurant business and accelerating growth in new markets [3] Future Expectations - For the first quarter, Toast expects gross profit from subscription services and financial technology solutions to be in the range of $505 million to $515 million, representing growth of 22% to 24% [4] - Adjusted EBITDA for the first quarter is anticipated to be between $160 million and $170 million [4] Share Repurchase Program - Toast's board has authorized an increase of $500 million to the company's previously authorized share repurchase program [3] Market Reaction - Following the earnings report, Toast shares fell by 8.11% in after-hours trading, reaching $24.02 [5]