For the quarter ending 2026-03-31, TOST had -$170M decrease in cash & cash equivalents over the period. $115M in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net income | 126 | 101 | 105 | 80 |
| Depreciation and amortization | 10 | 16 | 13 | 16 |
| Stock-based compensation expense | 54 | 56 | 66 | 60 |
| Amortization of deferred contract acquisition costs | 22 | 26 | 25 | 25 |
| Change in fair value of warrant liability | -8 | -1 | -7 | 8 |
| Credit loss expense | 27 | 25 | 26 | 18 |
| Stock-based charitable contribution expense | - | 0 | 6 | - |
| Asset impairments | - | 1 | 2 | 0 |
| Gain on warrant extinguishment | - | 0 | 0 | - |
| Other non-cash items | 1 | -3 | -5 | 0 |
| Accounts receivable, net | 18 | 13 | 4 | 7 |
| Other current assets | 2 | 30 | 12 | -2 |
| Deferred contract acquisition costs | 45 | 38 | 36 | 40 |
| Inventories, net | 22 | 10 | 1 | -8 |
| Accounts payable | 18 | 0 | -2 | 3 |
| Accrued expenses and other current liabilities | -32 | 44 | -20 | 53 |
| Deferred revenue | 4 | 0 | 4 | 3 |
| Operating lease right-of-use assets and operating lease liabilities, net | 1 | 0 | -5 | -1 |
| Other assets and liabilities | 2 | -14 | 0 | 5 |
| Net cash provided by operating activities | 132 | 194 | 165 | 223 |
| Cash paid for acquisition, net of cash acquired | - | 0 | - | - |
| Capital expenditures | 17 | 16 | 12 | 15 |
| Purchases of marketable securities | 161 | 262 | 90 | 171 |
| Proceeds from the sale of marketable securities | 38 | 43 | 38 | 57 |
| Maturities of marketable securities | 88 | 83 | 60 | 91 |
| Other investing activities | - | 0 | - | - |
| Purchases of loans classified as held for investment, net | 23 | - | - | - |
| Net cash provided by (used in) investing activities | -75 | -152 | -4 | -38 |
| Payments of issuance costs of the revolving credit facility | - | 0 | 0 | 3 |
| Change in customer funds obligations, net | 82 | -13 | 4 | -19 |
| Proceeds from issuance of common stock | 14 | 3 | 38 | 14 |
| Warrant repurchase | - | 0 | 0 | - |
| Cash paid to repurchase class a common stock | 323 | 53 | 23 | 14 |
| Net cash provided by (used in) financing activities | -227 | -63 | 19 | -22 |
| Effect of exchange rate changes on cash and cash equivalents and restricted cash | - | -1 | 0 | 3 |
| Net increase (decrease) in cash, cash equivalents, cash held on behalf of customers and restricted cash | -170 | -22 | 180 | 340 |
| Cash, cash equivalents, cash held on behalf of customers and restricted cash at beginning of period | 1,583 | 1,605 | 1,425 | 1,259 |
| Cash, cash equivalents, cash held on behalf of customers and restricted cash at end of period | 1,413 | 1,583 | 1,605 | 1,425 |
Toast, Inc. (TOST)
Toast, Inc. (TOST)