Business Description

Our Mission Our mission is to empower the restaurant community to delight their guests, do what they love, and thrive. Overview Toast, Inc., which we refer to as Toast, we, or the Company, is a cloud-based, all-in-one digital technology platform purpose-built for the entire restaurant community. We provide a comprehensive platform of software-as-a-service, or SaaS, products and financial technology solutions, including integrated payment processing, restaurant-grade hardware, and a broad ecosystem of third-party partners. We serve as the restaurant operating system, connecting front of house and back of house operations across service models including dine-in, takeout, delivery, catering, and retail. Our Market Restaurants and food and beverage retailers are highly diverse and complex and generally operate with low margins, high employee turnover, highly perishable products, and complex regulations. At the same time, these businesses operate in a dynamic environment with changing input costs, labor constraints, evolving consumer preferences, and the imperative to utilize technology and data to innovate. What was once primarily an on-site experience with antiquated solutions is now becoming an omnichannel experience with operators employing technology to enable a range of additional service models, including curbside pick-up, delivery, wholesale, and catering. Over the last several years, consumer preference towards omnichannel commerce and digital engagement options has accelerated. With food service and retail businesses of varying sizes - from small and mid-sized operators to larger, multi-location and enterprise customers- operating in an increasingly dynamic environment, it is critical that we provide our customers with the tools they need to drive revenue and best serve their guests. As diversity grows in how guests order, where guests transact, and the means guests use to pay, operators must constantly adapt to support these trends. We have seen operators expanding into new service models in recent years, allowing guests to choose the type of service that best suits them. We believe we are in the early stages of capturing our addressable market opportunity and we see a significant opportunity to increase sales to both new and existing customers, address more of the diverse needs of our customers, and expand our platform outside the United States and with different types of customers. See the section titled “Our Growth Strategy” below for additional details. Our Products and Platform Toast’s all-in-one technology platform is purpose-built to support the operational needs of restaurants and food and beverage retailers across a range of formats, sizes, and stages of growth. Our proprietary Android-based software powers our single platform of vertically integrated solutions, and combined with our purpose-built hardware and integrated payments solutions, we deliver a unified system that supports daily operations, employee workflows, and guest engagement. Our platform is designed to serve as a central operating system for our customers’ businesses, with solutions that span point-of-sale, digital ordering and delivery, labor and workforce management, inventory and supply chain tools, marketing and loyalty, financial management, and related services. By offering these solutions on a single, integrated platform, we enable customers to manage operations more efficiently and to adopt additional capabilities as their businesses grow in scale and complexity. Designed to work together, our solutions deliver increasing value as customers adopt more of the platform. For example, customers that use our digital ordering solutions can connect those orders directly with our marketing and loyalty tools, allowing them to promote offers to returning guests, encourage repeat visits, and 6 Table of Contents drive more orders through their own digital channels, which can help customers save on third-party commissions and deliver incremental margins. We continue to enhance the capabilities of our platform and expand its applicability across use cases, while maintaining a focus on reliability, scalability, and security. Our approach emphasizes delivering operational outcomes for customers through integrated workflows, data-driven insights, and ongoing innovation across the platform.…