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Side-by-side financial comparison of CrowdStrike (CRWD) and Toast, Inc. (TOST). Click either name above to swap in a different company.
Toast, Inc. is the larger business by last-quarter revenue ($1.6B vs $1.2B, roughly 1.3× CrowdStrike). Toast, Inc. runs the higher net margin — 6.2% vs -2.8%, a 8.9% gap on every dollar of revenue. On growth, CrowdStrike posted the faster year-over-year revenue change (22.2% vs 22.0%). CrowdStrike produced more free cash flow last quarter ($314.1M vs $178.0M). Over the past eight quarters, Toast, Inc.'s revenue compounded faster (23.3% CAGR vs 20.8%).
CrowdStrike Holdings, Inc. is an American cybersecurity technology company based in Austin, Texas. It provides endpoint security, threat intelligence, and cyberattack response services.
Toast, Inc. is an American cloud-based restaurant management software company based in Boston, Massachusetts. The company provides an all-in-one point of sale (POS) system built on the Android operating system.
CRWD vs TOST — Head-to-Head
Income Statement — Q3 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $1.2B | $1.6B |
| Net Profit | $-34.0M | $101.0M |
| Gross Margin | 75.1% | 25.9% |
| Operating Margin | -5.6% | 5.2% |
| Net Margin | -2.8% | 6.2% |
| Revenue YoY | 22.2% | 22.0% |
| Net Profit YoY | -102.1% | 215.6% |
| EPS (diluted) | $-0.14 | $0.18 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $1.2B | $1.6B | ||
| Q3 25 | $1.2B | $1.6B | ||
| Q2 25 | $1.1B | $1.6B | ||
| Q1 25 | $1.1B | $1.3B | ||
| Q4 24 | $1.0B | $1.3B | ||
| Q3 24 | $963.9M | $1.3B | ||
| Q2 24 | $921.0M | $1.2B | ||
| Q1 24 | $845.3M | $1.1B |
| Q4 25 | $-34.0M | $101.0M | ||
| Q3 25 | $-77.7M | $105.0M | ||
| Q2 25 | $-110.2M | $80.0M | ||
| Q1 25 | $-92.3M | $56.0M | ||
| Q4 24 | $-16.8M | $32.0M | ||
| Q3 24 | $47.0M | $56.0M | ||
| Q2 24 | $42.8M | $14.0M | ||
| Q1 24 | $53.7M | $-83.0M |
| Q4 25 | 75.1% | 25.9% | ||
| Q3 25 | 73.5% | 26.5% | ||
| Q2 25 | 73.8% | 25.3% | ||
| Q1 25 | 74.1% | 25.9% | ||
| Q4 24 | 74.7% | 24.9% | ||
| Q3 24 | 75.4% | 24.7% | ||
| Q2 24 | 75.6% | 23.0% | ||
| Q1 24 | 75.3% | 23.2% |
| Q4 25 | -5.6% | 5.2% | ||
| Q3 25 | -9.7% | 5.1% | ||
| Q2 25 | -11.3% | 5.2% | ||
| Q1 25 | -8.1% | 3.2% | ||
| Q4 24 | -5.5% | 2.5% | ||
| Q3 24 | 1.4% | 2.6% | ||
| Q2 24 | 0.8% | 0.4% | ||
| Q1 24 | 3.5% | -5.2% |
| Q4 25 | -2.8% | 6.2% | ||
| Q3 25 | -6.6% | 6.4% | ||
| Q2 25 | -10.0% | 5.2% | ||
| Q1 25 | -8.7% | 4.2% | ||
| Q4 24 | -1.7% | 2.4% | ||
| Q3 24 | 4.9% | 4.3% | ||
| Q2 24 | 4.6% | 1.1% | ||
| Q1 24 | 6.4% | -7.7% |
| Q4 25 | $-0.14 | $0.18 | ||
| Q3 25 | $-0.31 | $0.16 | ||
| Q2 25 | $-0.44 | $0.13 | ||
| Q1 25 | $-0.37 | $0.09 | ||
| Q4 24 | $-0.07 | $0.09 | ||
| Q3 24 | $0.19 | $0.07 | ||
| Q2 24 | $0.17 | $0.02 | ||
| Q1 24 | $0.23 | $-0.15 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $4.8B | $1.4B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $4.0B | $2.1B |
| Total Assets | $10.0B | $3.1B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $4.8B | $1.4B | ||
| Q3 25 | $5.0B | $1.4B | ||
| Q2 25 | $4.6B | $1.2B | ||
| Q1 25 | $4.3B | $1.0B | ||
| Q4 24 | $4.3B | $903.0M | ||
| Q3 24 | $4.0B | $761.0M | ||
| Q2 24 | $3.7B | $691.0M | ||
| Q1 24 | $3.5B | $578.0M |
| Q4 25 | $4.0B | $2.1B | ||
| Q3 25 | $3.8B | $2.0B | ||
| Q2 25 | $3.5B | $1.8B | ||
| Q1 25 | $3.3B | $1.7B | ||
| Q4 24 | $3.1B | $1.5B | ||
| Q3 24 | $2.9B | $1.4B | ||
| Q2 24 | $2.5B | $1.3B | ||
| Q1 24 | $2.3B | $1.2B |
| Q4 25 | $10.0B | $3.1B | ||
| Q3 25 | $9.3B | $3.0B | ||
| Q2 25 | $8.7B | $2.8B | ||
| Q1 25 | $8.7B | $2.6B | ||
| Q4 24 | $7.8B | $2.4B | ||
| Q3 24 | $7.2B | $2.2B | ||
| Q2 24 | $6.8B | $2.2B | ||
| Q1 24 | $6.6B | $2.1B |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $397.5M | $194.0M |
| Free Cash FlowOCF − Capex | $314.1M | $178.0M |
| FCF MarginFCF / Revenue | 25.5% | 10.9% |
| Capex IntensityCapex / Revenue | 6.8% | 1.0% |
| Cash ConversionOCF / Net Profit | — | 1.92× |
| TTM Free Cash FlowTrailing 4 quarters | $1.2B | $608.0M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $397.5M | $194.0M | ||
| Q3 25 | $332.8M | $165.0M | ||
| Q2 25 | $384.1M | $223.0M | ||
| Q1 25 | $345.7M | $79.0M | ||
| Q4 24 | $326.1M | $147.0M | ||
| Q3 24 | $326.6M | $109.0M | ||
| Q2 24 | $383.2M | $124.0M | ||
| Q1 24 | $347.0M | $-20.0M |
| Q4 25 | $314.1M | $178.0M | ||
| Q3 25 | $302.3M | $153.0M | ||
| Q2 25 | $298.4M | $208.0M | ||
| Q1 25 | $258.5M | $69.0M | ||
| Q4 24 | $247.4M | $134.0M | ||
| Q3 24 | $287.4M | $97.0M | ||
| Q2 24 | $333.5M | $108.0M | ||
| Q1 24 | $294.4M | $-33.0M |
| Q4 25 | 25.5% | 10.9% | ||
| Q3 25 | 25.9% | 9.4% | ||
| Q2 25 | 27.0% | 13.4% | ||
| Q1 25 | 24.4% | 5.2% | ||
| Q4 24 | 24.5% | 10.0% | ||
| Q3 24 | 29.8% | 7.4% | ||
| Q2 24 | 36.2% | 8.7% | ||
| Q1 24 | 34.8% | -3.1% |
| Q4 25 | 6.8% | 1.0% | ||
| Q3 25 | 2.6% | 0.7% | ||
| Q2 25 | 7.8% | 1.0% | ||
| Q1 25 | 8.2% | 0.7% | ||
| Q4 24 | 7.8% | 1.0% | ||
| Q3 24 | 4.1% | 0.9% | ||
| Q2 24 | 5.4% | 1.3% | ||
| Q1 24 | 6.2% | 1.2% |
| Q4 25 | — | 1.92× | ||
| Q3 25 | — | 1.57× | ||
| Q2 25 | — | 2.79× | ||
| Q1 25 | — | 1.41× | ||
| Q4 24 | — | 4.59× | ||
| Q3 24 | 6.95× | 1.95× | ||
| Q2 24 | 8.95× | 8.86× | ||
| Q1 24 | 6.46× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
CRWD
| Subscription And Circulation | $1.2B | 95% |
| Professional Services | $65.5M | 5% |
TOST
| Technology Service | $1.3B | 82% |
| License | $256.0M | 16% |
| Product And Professional Services | $43.0M | 3% |
