Toast Announces CFO Transition Alongside Strong Q3 2026 Financial Results

Executive Leadership Transition & Q3 2026 Results

1. CFO Succession

• Outgoing CFO: Elena Gomez notified Toast, Inc. on October 28, 2026, of her decision to step down as President and Chief Financial Officer, effective December 31, 2026. The resignation is not due to any disagreement with management, policies, or practices. She will remain in an advisory capacity as a non-executive employee through July 2, 2027.
• Incoming CFO: Michael Senno, age 46, currently Senior Vice President of Finance, has been appointed CFO and principal financial officer, effective January 1, 2027. Mr. Senno has been with Toast since March 2022 and previously served as VP of Investor Relations at Coupang, alongside prior roles at Expedia Group, Time Warner, and Credit Suisse.
• Compensation Terms: Mr. Senno will receive an annual base salary of $460,000 and will participate in the Senior Executive Cash Incentive Bonus Plan with an annual target bonus of 75% of his base salary.

2. Q3 2026 Financial Performance Highlights

• Annualized Recurring Run-Rate (ARR): Increased 24% year-over-year to $2.5 billion as of September 30, 2026.
• Total Locations: Increased 21% year-over-year to approximately 189,000, adding ~8,500 net locations in the quarter.
• Gross Payment Volume (GPV): Increased 20% to $61.8 billion.
• Profitability: Operating income rose to $165 million (up from $84 million in Q3 2025). Net income reached $169 million, and Adjusted EBITDA reached $240 million.
• Full-Year 2026 Guidance: Raised FY 2026 Adjusted EBITDA guidance to $840 million–$850 million (up from $805 million–$825 million).