Toast Inc-Class A

Toast (TOST) shares dropped 1.7% in after-hours trading even as Q2 revenue beat estimates, with growth in locations offset by flat GPV per location and cash flow pressure from hardware inventory.

QXO shares dropped 3.5% after TopBuild holders overwhelmingly chose cash, but proration leaves them with QXO stock, creating a 313 million-share supply test.

Toast shares dropped 15% despite a 22% revenue jump and raised 2026 EBITDA outlook, as hardware costs and a lower EPS weighed on investors.

Toast anticipates adding more net new restaurant locations in 2026 than in 2025, with executives highlighting growth from enterprise clients and the new Toast IQ AI platform. Shares gained 0.9% premarket.

Toast shares declined over 6% in regular trading and extended losses after hours as the company warned of margin pressure from rising hardware costs in its 2026 outlook, despite reporting strong fourth-quarter revenue of $1.63 billion.