Toast, Inc. has announced a significant leadership change as Elena Gomez, the company’s President and Chief Financial Officer, plans to step down effective December 31, 2026. This transition comes alongside the release of the company's robust financial results for the third quarter of 2026, which showcased a notable increase in revenue and net income.

On November 3, 2026, Toast reported that it had added approximately 8,500 net new locations in the third quarter, contributing to an annualized recurring revenue (ARR) growth of 24%, reaching $2.5 billion. The company also reported a net income of $169 million and an adjusted EBITDA of $240 million for the quarter.

The appointment of Michael Senno as the new Chief Financial Officer, effective January 1, 2027, marks a pivotal moment for Toast. Senno, who has been with the company since April 2023 as the Senior Vice President of Finance, will take over from Gomez, who will continue to serve in an advisory role until July 2, 2027. This leadership transition is expected to help maintain the company's momentum as it continues to innovate in the technology sector.

Background

Toast, Inc. is a prominent player in the computer processing and data preparation industry, classified under SIC 7374. The company trades on the New York Stock Exchange under the ticker symbol TOST. Its recent filings include an 8-K on November 3, 2026, detailing the leadership change and financial results, along with other relevant disclosures.

What the Filing Says

The filing indicates that Gomez's resignation is not due to any disagreements regarding the company’s management or policies. Senno's appointment comes with a base salary of $460,000 per year and eligibility for an annual target bonus of 75% of his base salary.

Impact

This leadership change may affect the company's strategic direction and operational execution, particularly as Toast aims to leverage its recent financial successes to enhance its market position. The technology platform's growth in ARR and net income reflects a strong demand for its services among restaurants and retail businesses, which could influence competitors in the tech sector.

What's Next

Toast will continue to monitor its performance and the impact of the leadership transition on its operations. The filing does not specify what happens next beyond the announced appointments.