Toast Initiating Coverage: From Product-Led Growth to Scaled Platform with Meaningful Profitability
ByAinvest
Tuesday, Jan 20, 2026 1:37 am ET1min read
TOST--
Toast, a restaurant payment ecosystem disruptor, has evolved into a scaled platform generating profitability. The company's durable free cash flow (FCF) has led to a re-rating as its narrative shifts from a product-led growth story to a profitable platform.
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