# Toast total locations in Q2

in Q2 2026

Updated: July 13, 2026

Category: Financials

Tags: Companies
KPIs

HTML: /markets/financials/companies/toast-total-locations-in-q2/

## Short Answer

**Key takeaway.** Both the **model** and the **market** overwhelmingly agree that Toast's total locations in Q2 2026 will be above 176 thousand.

## Key Claims (January 2026)

**- - Since last update (~24h): The model's probability for "above 180 thousand" surged by +14.0pp, flipping the edge.** - Headline **probability** for "above 176 thousand" declined by -6.9pp, widening the edge.
- The **model**'s odds for "above 178 thousand" dropped by -3.3pp, also flipping the edge.
- The **model** also raised odds for "above 182, 184, and 186 thousand," flipping or compressing edges.

**- - Above 176 thousand appears likely given Q1 2026's strong bookings and stable customer trends.** - Above 178 thousand is supported by new growth products like Toast Drive-Thru.
- Above 180 thousand is plausible from AI-first solutions and new enterprise **market** expansion.

### Why This Matters (GEO)

- AI agents extract claims, not arguments.
- Improves citation probability in summaries and answer cards.
- Enables fact stitching across multiple sources.

## Executive Verdict

**Key takeaway.** **Market**'s **93%** (93c) for Toast locations tops the **91.9%** **model**, implying **market** overvaluation despite growth drivers.

### Who Wins and Why

| Outcome | Market | Model | Why |
| --- | --- | --- | --- |
| above 184 thousand | 7.0% | 7.4% | Model higher by 0.4pp |
| above 178 thousand | 77.0% | 81.9% | Model higher by 4.9pp |
| above 182 thousand | 23.0% | 16.4% | Market higher by 6.6pp |

## Model vs Market

| Outcome | Market Probability | Octagon Model Probability |
| --- | --- | --- |
| above 184 thousand | 7.0% | 7.4% |
| above 178 thousand | 77.0% | 81.9% |
| above 182 thousand | 23.0% | 16.4% |
| above 176 thousand | 98.0% | 91.9% |
| above 180 thousand | 39.0% | 46.0% |
| above 186 thousand | 5.0% | 5.3% |

- Expiration: September 3, 2026

## Market Behavior & Price Dynamics

This market has traded in a tight, sideways range between 93.0% and 99.0% since its inception. The contract opened at 98.0% before settling at its current price of 93.0%, which has acted as a near-term floor. The 98.0%-99.0% zone serves as the primary resistance level. The overall trend is flat, with a slight drift lower from its opening highs.

The market's high probability is anchored by Toast's Q1 2026 report of approximately 171,000 locations, setting a high baseline for the Q2 figure. The contract structure implies a resolution threshold of 176,000 locations. The most significant price move was a drop from 98.0% to 93.0%. This shift was not accompanied by any trading volume and does not correspond to any specific news catalyst in the provided context. It likely reflects an adjustment in resting orders rather than a reaction to new information.

Total volume is extremely low, with only 9 contracts traded in total. Most of this activity occurred at the market's launch. The subsequent lack of volume suggests conviction is weak and the price does not reflect a broad consensus. The high probability indicates market participants expect Toast to add the requisite 5,000 locations in Q2, but the absence of capital flow means this sentiment has not been meaningfully tested.

## Contract Snapshot

This market resolves YES if Toast Inc. reports above 180,000 total locations in Q2 2026, otherwise it resolves NO, with Fiscal.ai verifying the outcome. The market is scheduled to close by September 3, 2026, 4:00 PM EDT, but may close early if the event occurs, with payouts projected 30 minutes after closure; insider trading by prohibited persons is forbidden.

## Market Discussion

As of March 31, 2026, Toast announced it served approximately 171,000 locations, reflecting a 22% year-over-year increase [[^]](https://www.sec.gov/Archives/edgar/data/1650164/000165016426000113/tost-20260331xexhibit991.htm)[[^]](https://www.businesswire.com/news/home/20260507253488/en/Toast-Announces-First-Quarter-2026-Financial-Results)[[^]](https://last10k.com/sec-filings/tost/0001650164-26-000114.htm). However, there is no evidence in the provided sources regarding Toast Inc.'s total location count for Q2 2026 [[^]](https://www.espn.com/radio/play/_/id/22160548)-[[^]](https://www.espn.com/espn/print?id=27355822). Public discussion following the Q1 2026 earnings report highlighted investor concerns over hardware tariffs and potential Gross Payment Volume (GPV) per location softness [[^]](https://last10k.com/sec-filings/tost/0001650164-26-000114.htm)[[^]](https://247wallst.com/companies/tost/earnings/)[[^]](https://nikhs.substack.com/p/toast-1q26-earnings-the-register), although some analysts express long-term optimism due to margin expansion and potential AI-driven efficiencies [[^]](https://www.tikr.com/blog/toasts-next-act-is-ai-the-market-is-still-pricing-the-last-one)[[^]](https://www.tikr.com/blog/toast-stocks-margin-story-eight-quarters-of-gross-margin-expansion-and-what-it-means-for-valuation)[[^]](https://capitalcompounding.substack.com/p/toast-tost-recap-and-investment).

## Market Data

| Contract | Yes Bid | Yes Ask | Last Price | Volume | Open Interest |
| --- | --- | --- | --- | --- | --- |
| above 176 thousand | 95% | 99% | 98% | $1,146.02 | $877 |
| above 178 thousand | 78% | 83% | 77% | $4,858.1 | $1,015.37 |
| above 180 thousand | 40% | 46% | 39% | $816.87 | $424.29 |
| above 182 thousand | 17% | 23% | 23% | $3,041.86 | $885.44 |
| above 184 thousand | 7% | 8% | 7% | $6,481 | $2,288 |
| above 186 thousand | 2% | 8% | 5% | $1 | $1 |

## What macroeconomic trends in the restaurant industry during Q2 2026 could have affected Toast's customer churn and new location acquisition rates?

Restaurant Industry Macro Environment | Challenging with traffic declines, margin compression, and consumer spending pressure (Q2 2026 [[^]](https://www.qsrmagazine.com/story/restaurant-outlook-for-2026-leaders-take-share-and-searching-for-a-spark/)[[^]](https://www.theglobeandmail.com/investing/markets/stocks/TOST-N/pressreleases/1789397/toast-tost-q1-2026-earnings-call-transcript/)) |
Toast Customer Trends | Stable (Q2 2026 [[^]](https://www.theglobeandmail.com/investing/markets/stocks/TOST-N/pressreleases/1789397/toast-tost-q1-2026-earnings-call-transcript/)) |
Toast GPV per location decline | 1% (Q2 2026 [[^]](https://www.theglobeandmail.com/investing/markets/stocks/TOST-N/pressreleases/1789397/toast-tost-q1-2026-earnings-call-transcript/)) |

**The restaurant industry faced significant Q2 2026 macroeconomic challenges**

The restaurant industry faced significant Q2 2026 macroeconomic challenges. This period was characterized by declining traffic, margin compression driven by elevated commodity and labor costs, and sustained consumer spending pressure, particularly among lower- and middle-income demographics [[^]](https://www.qsrmagazine.com/story/restaurant-outlook-for-2026-leaders-take-share-and-searching-for-a-spark/)[[^]](https://www.theglobeandmail.com/investing/markets/stocks/TOST-N/pressreleases/1789397/toast-tost-q1-2026-earnings-call-transcript/). These conditions created a challenging operational environment, potentially influencing decisions regarding technology adoption within the industry.

Toast's customer churn remained stable amid industry headwinds. Despite these broader industry challenges, Toast reported stable customer trends throughout Q2 2026. The company experienced only a minor **1%** decline in Gross Payment Volume (GPV) per location, which was consistent with Q1 figures, indicating that customer churn for its existing base was not significantly impacted [[^]](https://www.theglobeandmail.com/investing/markets/stocks/TOST-N/pressreleases/1789397/toast-tost-q1-2026-earnings-call-transcript/).

Toast pursued strategic expansion for new location acquisition. To counteract the challenging environment and drive growth in new location acquisition, Toast aggressively expanded into new **market** segments. These included enterprise solutions, such as drive-through offerings and hotel partnerships, as well as broader retail and international markets [[^]](https://www.theglobeandmail.com/investing/markets/stocks/TOST-N/pressreleases/1789397/toast-tost-q1-2026-earnings-call-transcript/)[[^]](https://last10k.com/sec-filings/tost/0001650164-26-000114.htm)[[^]](https://finance.yahoo.com/markets/stocks/articles/toast-tost-q1-2026-earnings-231107423.html). Additionally, the company leveraged new AI product launches to maintain its momentum [[^]](https://www.theglobeandmail.com/investing/markets/stocks/TOST-N/pressreleases/1789397/toast-tost-q1-2026-earnings-call-transcript/)[[^]](https://last10k.com/sec-filings/tost/0001650164-26-000114.htm)[[^]](https://finance.yahoo.com/markets/stocks/articles/toast-tost-q1-2026-earnings-231107423.html).

## What is the consensus among financial analysts for Toast's total locations at the end of Q2 2026?

Q2 2026 total locations consensus | Not available from provided information [[^]](https://www.businesswire.com/news/home/20260507253488/en/Toast-Announces-First-Quarter-2026-Financial-Results) |
Live locations (end of Q1 2026) | Approximately 171,000 [[^]](https://www.sec.gov/Archives/edgar/data/1650164/000165016426000113/tost-20260331xexhibit991.htm)[[^]](https://www.businesswire.com/news/home/20260507253488/en/Toast-Announces-First-Quarter-2026-Financial-Results)[[^]](https://www.aol.com/articles/toast-tost-q1-2026-earnings-231107000.html) |
Net additions (Q1 2026) | 7,000 [[^]](https://www.sec.gov/Archives/edgar/data/1650164/000165016426000113/tost-20260331xexhibit991.htm)[[^]](https://www.businesswire.com/news/home/20260507253488/en/Toast-Announces-First-Quarter-2026-Financial-Results)[[^]](https://www.aol.com/articles/toast-tost-q1-2026-earnings-231107000.html) |

**Analyst consensus for Toast's Q2 2026 locations is unavailable**

Analyst consensus for Toast's Q2 2026 locations is unavailable.
The provided research findings do not contain information regarding a consensus among financial analysts for Toast's total locations at the end of the second quarter of 2026. Consequently, an explicit consensus figure from financial analysts for that specific period cannot be determined from the available data.

Toast reported 171,000 live locations in Q1 2026.
While specific analyst consensus for Q2 2026 is not available, Toast reported approximately 171,000 live locations at the close of the first quarter of 2026 [[^]](https://www.sec.gov/Archives/edgar/data/1650164/000165016426000113/tost-20260331xexhibit991.htm)[[^]](https://www.businesswire.com/news/home/20260507253488/en/Toast-Announces-First-Quarter-2026-Financial-Results)[[^]](https://www.aol.com/articles/toast-tost-q1-2026-earnings-231107000.html). This total reflects a net addition of 7,000 locations during Q1 2026 [[^]](https://www.sec.gov/Archives/edgar/data/1650164/000165016426000113/tost-20260331xexhibit991.htm)[[^]](https://www.businesswire.com/news/home/20260507253488/en/Toast-Announces-First-Quarter-2026-Financial-Results)[[^]](https://www.aol.com/articles/toast-tost-q1-2026-earnings-231107000.html).

## How does Toast's location growth rate in early 2026 compare to that of its key competitors, Square and Lightspeed?

Toast Q1 2026 Net New Locations | Approximately 7,000 (Q1 2026) [[^]](https://www.businesswire.com/news/home/20260507253488/en/Toast-Announces-First-Quarter-2026-Financial-Results)[[^]](https://investors.toasttab.com/financials/quarterly-results/default.aspx)[[^]](https://last10k.com/sec-filings/tost/0001650164-26-000114.htm)[[^]](https://247wallst.com/investing/2026/07/12/5-stock-setups-where-wall-street-sees-the-most-upside-right-now/\n2)[[^]](https://247wallst.com/investing/2026/07/11/goldman-sachs-just-made-4-bold-calls-2-sells-1-buy-and-a-2159-price-target-on-this-popular-stock/\n3)[[^]](https://www.zacks.com/stock/news/2951906/can-toast-keep-serving-gains-buy-sell-or-hold-tost-stock-now?cid=CS-STOCKNEWSAPI-FT-analyst_blog|most_popular_stocks-2951906\n4)[[^]](https://invezz.com/news/2026/07/09/5-overlooked-stocks-analysts-like-for-this-summer/\n5)[[^]](https://www.zacks.com/stock/news/2950566/here-s-why-toast-tost-fell-more-than-broader-market?cid=CS-STOCKNEWSAPI-FT-tale_of_the_tape|yseop_template_6v2-2950566\n6)[[^]](https://www.zacks.com/stock/news/2949162/why-investors-need-to-take-advantage-of-these-2-computer-and-technology-stocks-now?cid=CS-STOCKNEWSAPI-FT-tale_of_the_tape|zacks_education_earnings_esp-2949162\n7) |
Toast Total Locations | Approximately 171,000 (as of 2026-03-31) [[^]](https://www.businesswire.com/news/home/20260507253488/en/Toast-Announces-First-Quarter-2026-Financial-Results)[[^]](https://investors.toasttab.com/financials/quarterly-results/default.aspx)[[^]](https://last10k.com/sec-filings/tost/0001650164-26-000114.htm)[[^]](https://247wallst.com/investing/2026/07/12/5-stock-setups-where-wall-street-sees-the-most-upside-right-now/\n2)[[^]](https://247wallst.com/investing/2026/07/11/goldman-sachs-just-made-4-bold-calls-2-sells-1-buy-and-a-2159-price-target-on-this-popular-stock/\n3)[[^]](https://www.zacks.com/stock/news/2951906/can-toast-keep-serving-gains-buy-sell-or-hold-tost-stock-now?cid=CS-STOCKNEWSAPI-FT-analyst_blog|most_popular_stocks-2951906\n4)[[^]](https://invezz.com/news/2026/07/09/5-overlooked-stocks-analysts-like-for-this-summer/\n5)[[^]](https://www.zacks.com/stock/news/2950566/here-s-why-toast-tost-fell-more-than-broader-market?cid=CS-STOCKNEWSAPI-FT-tale_of_the_tape|yseop_template_6v2-2950566\n6)[[^]](https://www.zacks.com/stock/news/2949162/why-investors-need-to-take-advantage-of-these-2-computer-and-technology-stocks-now?cid=CS-STOCKNEWSAPI-FT-tale_of_the_tape|zacks_education_earnings_esp-2949162\n7) |
Toast YoY Location Growth | 22% (Q1 2026) [[^]](https://www.businesswire.com/news/home/20260507253488/en/Toast-Announces-First-Quarter-2026-Financial-Results)[[^]](https://investors.toasttab.com/financials/quarterly-results/default.aspx)[[^]](https://last10k.com/sec-filings/tost/0001650164-26-000114.htm)[[^]](https://247wallst.com/investing/2026/07/12/5-stock-setups-where-wall-street-sees-the-most-upside-right-now/\n2)[[^]](https://247wallst.com/investing/2026/07/11/goldman-sachs-just-made-4-bold-calls-2-sells-1-buy-and-a-2159-price-target-on-this-popular-stock/\n3)[[^]](https://www.zacks.com/stock/news/2951906/can-toast-keep-serving-gains-buy-sell-or-hold-tost-stock-now?cid=CS-STOCKNEWSAPI-FT-analyst_blog|most_popular_stocks-2951906\n4)[[^]](https://invezz.com/news/2026/07/09/5-overlooked-stocks-analysts-like-for-this-summer/\n5)[[^]](https://www.zacks.com/stock/news/2950566/here-s-why-toast-tost-fell-more-than-broader-market?cid=CS-STOCKNEWSAPI-FT-tale_of_the_tape|yseop_template_6v2-2950566\n6)[[^]](https://www.zacks.com/stock/news/2949162/why-investors-need-to-take-advantage-of-these-2-computer-and-technology-stocks-now?cid=CS-STOCKNEWSAPI-FT-tale_of_the_tape|zacks_education_earnings_esp-2949162\n7) |

**A direct comparison of competitor location growth rates is not feasible for early 2026 due to significant data limitations**

A direct comparison of competitor location growth rates is not feasible for early 2026 due to significant data limitations. The available research lacks crucial information, specifically the total location counts for Square and Lightspeed in both Q1 and Q2 2026, as well as Toast's Q2 2026 total locations [[^]](https://247wallst.com/investing/2026/07/12/5-stock-setups-where-wall-street-sees-the-most-upside-right-now/\n2)[[^]](https://247wallst.com/investing/2026/07/11/goldman-sachs-just-made-4-bold-calls-2-sells-1-buy-and-a-2159-price-target-on-this-popular-stock/\n3)[[^]](https://www.zacks.com/stock/news/2951906/can-toast-keep-serving-gains-buy-sell-or-hold-tost-stock-now?cid=CS-STOCKNEWSAPI-FT-analyst_blog|most_popular_stocks-2951906\n4)[[^]](https://invezz.com/news/2026/07/09/5-overlooked-stocks-analysts-like-for-this-summer/\n5)[[^]](https://www.zacks.com/stock/news/2950566/here-s-why-toast-tost-fell-more-than-broader-**market**?cid=CS-STOCKNEWSAPI-FT-tale_of_the_tape|yseop_template_6v2-2950566\n6)[[^]](https://www.zacks.com/stock/news/2949162/why-investors-need-to-take-advantage-of-these-2-computer-and-technology-stocks-now?cid=CS-STOCKNEWSAPI-FT-tale_of_the_tape|zacks_education_earnings_esp-2949162\n7). For Toast, Q1 2026 saw approximately 7,000 net new locations, bringing its total to an estimated 171,000 as of March 31, 2026. This represented a **22%** year-over-year growth in locations [[^]](https://www.businesswire.com/news/home/20260507253488/en/Toast-Announces-First-Quarter-2026-Financial-Results)[[^]](https://investors.toasttab.com/financials/quarterly-results/default.aspx)[[^]](https://last10k.com/sec-filings/tost/0001650164-26-000114.htm)[[^]](https://247wallst.com/investing/2026/07/12/5-stock-setups-where-wall-street-sees-the-most-upside-right-now/\n2)[[^]](https://247wallst.com/investing/2026/07/11/goldman-sachs-just-made-4-bold-calls-2-sells-1-buy-and-a-2159-price-target-on-this-popular-stock/\n3)[[^]](https://www.zacks.com/stock/news/2951906/can-toast-keep-serving-gains-buy-sell-or-hold-tost-stock-now?cid=CS-STOCKNEWSAPI-FT-analyst_blog|most_popular_stocks-2951906\n4)[[^]](https://invezz.com/news/2026/07/09/5-overlooked-stocks-analysts-like-for-this-summer/\n5)[[^]](https://www.zacks.com/stock/news/2950566/here-s-why-toast-tost-fell-more-than-broader-**market**?cid=CS-STOCKNEWSAPI-FT-tale_of_the_tape|yseop_template_6v2-2950566\n6)[[^]](https://www.zacks.com/stock/news/2949162/why-investors-need-to-take-advantage-of-these-2-computer-and-technology-stocks-now?cid=CS-STOCKNEWSAPI-FT-tale_of_the_tape|zacks_education_earnings_esp-2949162\n7). However, without the total number of locations for Q2 2026, a Q1 to Q2 2026 growth rate cannot be calculated from the existing evidence [[^]](https://247wallst.com/investing/2026/07/12/5-stock-setups-where-wall-street-sees-the-most-upside-right-now/\n2)[[^]](https://247wallst.com/investing/2026/07/11/goldman-sachs-just-made-4-bold-calls-2-sells-1-buy-and-a-2159-price-target-on-this-popular-stock/\n3)[[^]](https://www.zacks.com/stock/news/2951906/can-toast-keep-serving-gains-buy-sell-or-hold-tost-stock-now?cid=CS-STOCKNEWSAPI-FT-analyst_blog|most_popular_stocks-2951906\n4)[[^]](https://invezz.com/news/2026/07/09/5-overlooked-stocks-analysts-like-for-this-summer/\n5)[[^]](https://www.zacks.com/stock/news/2950566/here-s-why-toast-tost-fell-more-than-broader-**market**?cid=CS-STOCKNEWSAPI-FT-tale_of_the_tape|yseop_template_6v2-2950566\n6)[[^]](https://www.zacks.com/stock/news/2949162/why-investors-need-to-take-advantage-of-these-2-computer-and-technology-stocks-now?cid=CS-STOCKNEWSAPI-FT-tale_of_the_tape|zacks_education_earnings_esp-2949162\n7).

Competitor location growth data remains largely unavailable for early 2026, preventing a direct comparison. For Square, the research does not include total location key performance indicators for Q1 or Q2 2026, making it impossible to compute its location growth rate for the specified period [[^]](https://247wallst.com/investing/2026/07/12/5-stock-setups-where-wall-street-sees-the-most-upside-right-now/\n2)[[^]](https://247wallst.com/investing/2026/07/11/goldman-sachs-just-made-4-bold-calls-2-sells-1-buy-and-a-2159-price-target-on-this-popular-stock/\n3)[[^]](https://www.zacks.com/stock/news/2951906/can-toast-keep-serving-gains-buy-sell-or-hold-tost-stock-now?cid=CS-STOCKNEWSAPI-FT-analyst_blog|most_popular_stocks-2951906\n4)[[^]](https://invezz.com/news/2026/07/09/5-overlooked-stocks-analysts-like-for-this-summer/\n5)[[^]](https://www.zacks.com/stock/news/2950566/here-s-why-toast-tost-fell-more-than-broader-**market**?cid=CS-STOCKNEWSAPI-FT-tale_of_the_tape|yseop_template_6v2-2950566\n6)[[^]](https://www.zacks.com/stock/news/2949162/why-investors-need-to-take-advantage-of-these-2-computer-and-technology-stocks-now?cid=CS-STOCKNEWSAPI-FT-tale_of_the_tape|zacks_education_earnings_esp-2949162\n7). While Square's overall Gross Payment Volume grew **13%** in Q1 2026, consistent quarterly location growth data is not reported [[^]](https://bobhammel.substack.com/p/payments-and-fintech-quarterly-review-73c)[[^]](https://www.investing.com/analysis/lightspeed-commerce-payments-growth-cant-offset-software-stagnation-200677306). Similarly, Lightspeed's location growth rate for early 2026 cannot be determined due to the absence of total location figures for Q1 or Q2 2026 in the dataset [[^]](https://247wallst.com/investing/2026/07/12/5-stock-setups-where-wall-street-sees-the-most-upside-right-now/\n2)[[^]](https://247wallst.com/investing/2026/07/11/goldman-sachs-just-made-4-bold-calls-2-sells-1-buy-and-a-2159-price-target-on-this-popular-stock/\n3)[[^]](https://www.zacks.com/stock/news/2951906/can-toast-keep-serving-gains-buy-sell-or-hold-tost-stock-now?cid=CS-STOCKNEWSAPI-FT-analyst_blog|most_popular_stocks-2951906\n4)[[^]](https://invezz.com/news/2026/07/09/5-overlooked-stocks-analysts-like-for-this-summer/\n5)[[^]](https://www.zacks.com/stock/news/2950566/here-s-why-toast-tost-fell-more-than-broader-**market**?cid=CS-STOCKNEWSAPI-FT-tale_of_the_tape|yseop_template_6v2-2950566\n6)[[^]](https://www.zacks.com/stock/news/2949162/why-investors-need-to-take-advantage-of-these-2-computer-and-technology-stocks-now?cid=CS-STOCKNEWSAPI-FT-tale_of_the_tape|zacks_education_earnings_esp-2949162\n7). Lightspeed previously reported stabilization in its location counts, adding approximately 2,600 net new locations in its fiscal Q3 2026, which concluded in late 2025, alongside a **9%** year-over-year growth in its strategic core engines [[^]](https://bobhammel.substack.com/p/payments-and-fintech-quarterly-review-73c)[[^]](https://www.investing.com/analysis/lightspeed-commerce-payments-growth-cant-offset-software-stagnation-200677306).

## Which specific financial documents from Toast's August 13, 2026 earnings release will contain the definitive total location count?

Primary Reporting Document 1 | Earnings press release (Exhibit 99.1 to a Form 8-K) [[^]](https://www.sec.gov/Archives/edgar/data/1650164/000165016426000113/tost-20260331xexhibit991.htm)[[^]](https://last10k.com/sec-filings/tost/0001650164-26-000113.htm)[[^]](https://www.businesswire.com/news/home/20260507253488/en/Toast-Announces-First-Quarter-2026-Financial-Results)[[^]](https://last10k.com/sec-filings/tost/0001650164-26-000114.htm)[[^]](https://markets.ft.com/data/announce/detail?dockey=600-202605071605BIZWIRE_USPRX____20260507_BW253488-1) |
Primary Reporting Document 2 | MD&A section of quarterly Form 10-Q filing [[^]](https://www.sec.gov/Archives/edgar/data/1650164/000165016426000113/tost-20260331xexhibit991.htm)[[^]](https://last10k.com/sec-filings/tost/0001650164-26-000113.htm)[[^]](https://www.businesswire.com/news/home/20260507253488/en/Toast-Announces-First-Quarter-2026-Financial-Results)[[^]](https://last10k.com/sec-filings/tost/0001650164-26-000114.htm)[[^]](https://markets.ft.com/data/announce/detail?dockey=600-202605071605BIZWIRE_USPRX____20260507_BW253488-1) |
Consistent Reporting Example | May 2026 earnings release and 10-Q quarterly report [[^]](https://last10k.com/sec-filings/tost/0001650164-26-000113.htm)[[^]](https://last10k.com/sec-filings/tost/0001650164-26-000114.htm) |

**Toast consistently reports its total location count in two primary financial documents**

Toast consistently reports its total location count in two primary financial documents. These include its earnings press release, typically filed as Exhibit 99.1 to a Form 8-K, and within the Management's Discussion and Analysis (MD&A) section of its quarterly Form 10-Q filing [[^]](https://www.sec.gov/Archives/edgar/data/1650164/000165016426000113/tost-20260331xexhibit991.htm)[[^]](https://last10k.com/sec-filings/tost/0001650164-26-000113.htm)[[^]](https://www.businesswire.com/news/home/20260507253488/en/Toast-Announces-First-Quarter-2026-Financial-Results)[[^]](https://last10k.com/sec-filings/tost/0001650164-26-000114.htm)[[^]](https://markets.ft.com/data/announce/detail?dockey=600-202605071605BIZWIRE_USPRX____20260507_BW253488-1). This consistent practice is exemplified by Toast's May 2026 filings, such as its 8-K earnings release and 10-Q quarterly report, and related financial results announcements for the first quarter of 2026 [[^]](https://last10k.com/sec-filings/tost/0001650164-26-000113.htm)[[^]](https://www.businesswire.com/news/home/20260507253488/en/Toast-Announces-First-Quarter-2026-Financial-Results)[[^]](https://last10k.com/sec-filings/tost/0001650164-26-000114.htm)[[^]](https://markets.ft.com/data/announce/detail?dockey=600-202605071605BIZWIRE_USPRX____20260507_BW253488-1).

Future reporting is expected to follow these established disclosure practices. Therefore, if Toast issues an earnings release on August 13, 2026, the total location count would be expected to appear in both its earnings press release (Exhibit 99.1 to a Form 8-K) and the MD&A section of its corresponding quarterly Form 10-Q. It is important to note, however, that the available information does not explicitly confirm an earnings release on this specific future date nor does it guarantee that these documents will contain the total location count for that particular reporting period.

## How might the rollout of Toast's new Drive-Thru and Toast IQ Grow systems impact their net location additions in Q2 2026?

Drive-Through TAM | Approximately 140,000 locations [[^]](https://www.fool.com/earnings/call-transcripts/2026/05/07/toast-tost-q1-2026-earnings-call-transcript/)[[^]](https://finance.biggo.com/quote/TOST/earnings-call?t=US_TOST_2026-05-07)[[^]](https://last10k.com/sec-filings/tost/0001650164-26-000114.htm) |
Toast IQ Grow Sales Increase | 8% average for pilot users [[^]](https://www.fool.com/earnings/call-transcripts/2026/05/07/toast-tost-q1-2026-earnings-call-transcript/)[[^]](https://finance.biggo.com/quote/TOST/earnings-call?t=US_TOST_2026-05-07)[[^]](https://last10k.com/sec-filings/tost/0001650164-26-000114.htm) |
Q2 2026 Location Forecast | Above 176,000 locations [[^]](https://www.coinbase.com/en/predictions/event/KXTOST-26AUGLOC) |

**New Toast systems target significant market expansion**

New Toast systems target significant **market** expansion. Toast recently introduced 'Toast for Drive-Through', aiming at a total addressable **market** of approximately 140,000 locations [[^]](https://www.fool.com/earnings/call-transcripts/2026/05/07/toast-tost-q1-2026-earnings-call-transcript/)[[^]](https://finance.biggo.com/quote/TOST/earnings-call?t=US_TOST_2026-05-07)[[^]](https://last10k.com/sec-filings/tost/0001650164-26-000114.htm). This initiative, coupled with other total addressable **market** expansions, has been identified by management as a key factor for the company's overall growth [[^]](https://www.fool.com/earnings/call-transcripts/2026/05/07/toast-tost-q1-2026-earnings-call-transcript/)[[^]](https://finance.biggo.com/quote/TOST/earnings-call?t=US_TOST_2026-05-07). Additionally, Toast rolled out 'Toast IQ Grow', an AI agent that has demonstrated an average sales increase of **8%** among its initial pilot users [[^]](https://www.fool.com/earnings/call-transcripts/2026/05/07/toast-tost-q1-2026-earnings-call-transcript/)[[^]](https://finance.biggo.com/quote/TOST/earnings-call?t=US_TOST_2026-05-07)[[^]](https://last10k.com/sec-filings/tost/0001650164-26-000114.htm).

Strong Q1 location additions project continued growth. Toast concluded Q1 2026 with approximately 171,000 total locations, having achieved 7,000 net new location additions during that quarter [[^]](https://www.businesswire.com/news/home/20260507253488/en/Toast-Announces-First-Quarter-2026-Financial-Results)[[^]](https://www.sec.gov/Archives/edgar/data/1650164/000165016426000113/tost-20260331xexhibit991.htm)[[^]](https://www.theglobeandmail.com/investing/markets/stocks/TOST/pressreleases/1789397/toast-tost-q1-2026-earnings-call-transcript/). Notably, bookings in Q1 2026 surpassed the company's entire customer base from 2023 [[^]](https://www.fool.com/earnings/call-transcripts/2026/05/07/toast-tost-q1-2026-earnings-call-transcript/)[[^]](https://finance.biggo.com/quote/TOST/earnings-call?t=US_TOST_2026-05-07). Looking ahead, prediction markets generally anticipate Toast to maintain its robust growth trajectory, forecasting the company to exceed 176,000 locations by the end of Q2 2026 [[^]](https://www.coinbase.com/en/predictions/event/KXTOST-26AUGLOC).

## What Could Change the Odds

**Toast's growth drivers include the adoption of AI-driven tools like Toast IQ, expansion into enterprise markets, and solid location growth [[^]](https://kalshi.com/markets/kxtost/toast-kpi/kxtost-26augloc)[[^]](https://simplywall.st/stocks/us/diversified-financials/nyse-tost/toast/news/the-bull-case-for-toast-tost-could-change-following-ai-drive).** As of March 31, 2026, Toast reported approximately 171,000 total locations, reflecting a **22%** year-over-year increase [[^]](https://last10k.com/sec-filings/tost/0001650164-26-000114.htm)[[^]](https://www.fool.com/investing/2026/05/12/is-toast-stock-a-buy-on-the-dip/). For Q2 2026, Toast provided guidance for non-GAAP subscription services and financial technology solutions gross profit of **$565** million to **$575** million and adjusted EBITDA of **$185** million to **$195** million [[^]](https://last10k.com/sec-filings/tost/0001650164-26-000114.htm)[[^]](https://www.fool.com/investing/2026/05/12/is-toast-stock-a-buy-on-the-dip/).

**Bearish risks for Toast encompass potential margin compression from hardware costs and competitive pressure, such as that from DoorDash POS [[^]](https://kalshi.com/markets/kxtost/toast-kpi/kxtost-26augloc).** Uneven sales in the broader restaurant industry also pose a risk [[^]](https://kalshi.com/markets/kxtost/toast-kpi/kxtost-26augloc).

**Key takeaway.** A near-term catalyst is Toast's expected release of its Q2 2026 financial results, anticipated on or around August 11, 2026 [[^]](https://www.marketbeat.com/stocks/NYSE/TOST/earnings/)[[^]](https://www.zacks.com/stock/research/TOST/earnings-calendar)[[^]](https://www.fxempire.com/stocks/tost/earnings)[[^]](https://www.tipranks.com/stocks/de:71y/earnings).

## Key Dates & Catalysts

- **Expiration:** September 03, 2026
- **Closes:** September 03, 2026

## Decision-Flipping Events

- Toast's growth drivers include the adoption of AI-driven tools like Toast IQ, expansion into enterprise markets, and solid location growth [^] [^] .
- As of March 31, 2026, Toast reported approximately 171,000 total locations, reflecting a **22%** year-over-year increase [^] [^] .
- For Q2 2026, Toast provided guidance for non-GAAP subscription services and financial technology solutions gross profit of **$565** million to **$575** million and adjusted EBITDA of **$185** million to **$195** million [^] [^] .
- Bearish risks for Toast encompass potential margin compression from hardware costs and competitive pressure, such as that from DoorDash POS [^] .

## Related Research Reports

- [Apple headcount in 2026](/markets/financials/kpis/apple-headcount-in-2026/)
- [When will Tim Cook leave Apple?](/markets/financials/ceos/when-will-tim-cook-leave-apple/)
- [Airbnb bookings in Q2](/markets/financials/kpis/airbnb-bookings-in-q2/)
- [Air Canada passenger load factor in Q2](/markets/financials/companies/air-canada-passenger-load-factor-in-q2/)

## Historical Resolutions

No historical resolution data available for this series.

## Disclaimer

This content is for informational and educational purposes only and does not constitute financial, investment, legal, or trading advice.
Prediction markets involve risk of loss. Past performance does not guarantee future results.
We are not affiliated with Kalshi or any prediction market platform. Market data may be delayed or incomplete.

### Data Sources & Model Transparency

**Data Sources:** Octagon Deep Research aggregates information from multiple sources including news, filings, and market data.

**Freshness:** Analysis is generated periodically and may not reflect the latest developments. Verify critical information from primary sources.

## Attribution Policy

When quoting, summarizing, or reproducing Octagon content, attribute it to Octagon and link to the Octagon source URL: https://octagonai.co/markets/financials/companies/toast-total-locations-in-q2
If a specific page was used, cite that page rather than only the site homepage.