Opening its yearly report…Finding every part…Pulling out what matters…
TOSTToast, Inc.
The yearly report (10-K), explained
Once a year, every US-listed company files a full report with the SEC called the 10-K. It's longer and more detailed than the glossy annual report sent to shareholders, and its figures are checked by an independent auditor. Here is Toast's latest one, part by part: what each part is, why people read it, and what it says. Filed Feb 18, 2026, covering the period to Dec 31, 2025.
At a glance
AuditorErnst & Young LLPAuditor's opinionClean: the statements are fairly presentedCan it keep going?No going-concern warningMoney controlsManagement says they workedPeople working thereAbout 6,500Risks it lists58Shareholders of record202
Found by candor in the report's own text. Green means the usual, reassuring wording was found; amber means read that part.
Where the pages go
About 123 pages, roughly 6 hours to read in full
Point at or tap a block to see which part it is. The longest parts are usually the risks, the managers' discussion and the financial statements.
What its 58 listed risks are about
Each risk heading sorted by the words it uses. Open “What could go wrong” below to read them all.
- Other16
- Laws and regulators13
- Suppliers and operations10
- Competition4
- Products and technology4
- Economy and markets2
- Deals and investments2
- People2
- Cyber and data2
- Debt, money and the stock2
- Reputation and brand1
Every part, explained
The notes behind the numbers
The statements only show totals. The 20 notes explain each one: how Toast counts sales, what it owes and when, its tax bill, its leases, its business segments and more. Open a note to read it and see its tables.
Filed with the SEC on Feb 18, 2026, for the period ending Dec 31, 2025. Open the original report. Plain-English names and explanations are candor's; anything in quotation marks is Toast's own words.