TOST JPMorgan TMT 2026

Call Details

• Call Title: JPMorgan TMT 2026 Conference - Toast
• Date: May 19, 2026 at 10:15 PM UTC
• Management Team:
  • Aman Narang (Chief Executive Officer)
  • Elena Gomez (Chief Financial Officer)

Call Summary

Strategic Commentary

• Toast is executing an AI-led evolution from a software platform toward an agentic platform while preserving location growth as the primary top-line driver.
• The company is prioritizing location adds and ARPU expansion as the core growth algorithm alongside new TAM expansion.
• Toast reported that a pilot of its Toast IQ Grow marketing agent produced an 8% sales lift for participating customers.
• Toast reported that 40% of support tickets are now handled through AI, indicating material internal automation adoption.
• Toast described plans to roll out additional agents over time and to capture incremental revenue via packaged agents and potential usage-based components.
• Toast emphasized continued disciplined capital allocation, including a high bar for M&A and opportunistic share repurchases.

Market / Industry View

• Toast identified an industry-wide memory constraint that is creating near-term hardware supply pressure into 2026 and 2027.
• Toast stated that it has secured hardware supply for both 2026 and 2027 to mitigate the memory constraint.
• Toast characterized the hardware pressure as near-term and not structural to its long-term operating margin profile.
• Toast described consumer demand for restaurants as resilient, noting that Q1 consumer spending was in line with expectations and Q2 is stable.
• Toast reported that new TAM verticals accelerated net adds and that those businesses crossed $100 million ARR last year.
• Toast said it has not observed a material change in win rates or competitive share loss in its core markets despite peers increasing product velocity.