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LSPD

Lightspeed Commerce Inc.

LSPD

Lightspeed Commerce Inc. • NYSE
$11.23 ▲ 0.90% (+0.10)
Market Cap $1.53 B
52w High $18.61
52w Low $7.34
Dividend Yield 0%
P/E -2.49
Volume 139.87K
Outstanding Shares 135.98M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q2-2025 $318.963M ▲ $171.82M ▲ $-32.7M ▲ -10.252% ▲ $-0.24 ▲ $4.94M ▲
Q1-2025 $309.967M ▲ $137.243M ▼ $-50.384M ▲ -16.255% ▲ $-0.36 ▲ $-10.633M ▲
Q4-2024 $253.419M ▼ $691.894M ▲ $-575.943M ▼ -227.269% ▼ $-3.77 ▼ $-547.557M ▼
Q3-2024 $280.134M ▲ $149.872M ▼ $-26.586M ▲ -9.49% ▲ $-0.17 ▲ $-80K ▲
Q2-2024 $277.182M $152.161M $-29.655M -10.699% $-0.19 $-2.145M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q2-2025 $463.639M ▲ $1.68B ▼ $162.463M ▼ $1.518B ▼
Q1-2025 $447.598M ▼ $1.697B ▼ $162.527M ▲ $1.534B ▼
Q4-2024 $558.469M ▼ $1.826B ▼ $162.236M ▲ $1.664B ▼
Q3-2024 $661.568M ▲ $2.478B ▼ $159.278M ▼ $2.319B ▼
Q2-2024 $659.018M $2.506B $162.285M $2.344B

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q2-2025 $-32.7M ▲ $25.541M ▲ $-9.164M ▼ $-1.394M ▲ $14.948M ▲ $23.834M ▲
Q1-2025 $-49.567M ▲ $12.396M ▲ $-6.205M ▼ $-118.475M ▼ $-110.871M ▼ $77K ▲
Q4-2024 $-575.943M ▼ $-9.938M ▼ $445K ▼ $-94.181M ▼ $-103.099M ▼ $-16.937M ▼
Q3-2024 $-26.586M ▲ $2.72M ▲ $3.009M ▲ $-1.768M ▲ $2.55M ▲ $-3.399M ▲
Q2-2024 $-29.655M $-11.311M $-2.281M $-1.949M $-14.93M $-17.2M

Five-Year Company Overview

Income Statement

Income Statement Revenue has grown strongly over the past several years, showing that Lightspeed continues to win more customers and process more activity through its platform. Gross profit has risen along with it, which shows the core business model can scale. However, the company is still consistently losing money at the operating and net income levels. Losses narrowed for a time but then widened again in the most recent year, suggesting that the push for growth, integration of past acquisitions, or higher operating expenses are still weighing on profitability. Overall, this is a classic growth profile: meaningful top-line expansion, but profitability and margin stability are not yet in place.

Balance Sheet

Balance Sheet The balance sheet looks relatively conservative. Lightspeed holds a solid cash position and carries very little debt, which provides flexibility and a buffer against ongoing losses. Total assets and equity have come down from earlier peaks, reflecting past acquisitions being worked through and some erosion from continued net losses. Even so, the company still appears well-capitalized for a software business of its size, with room to keep investing, but it does not have the same balance-sheet strength it had at the height of its acquisition cycle.

Cash Flow

Cash Flow Operating cash flow has been negative for several years, but the cash burn has been gradually shrinking and is now relatively modest compared with the company’s cash on hand. Free cash flow follows the same pattern: still negative, but trending in the right direction. Capital spending needs are low, which helps. This points to a business that is not yet self-funding but is moving closer to break-even, reducing immediate liquidity risk while still requiring disciplined cost control and continued revenue growth to fully turn the corner.

Competitive Edge

Competitive Edge Lightspeed operates in a crowded space, but it has carved out a clear niche by focusing deeply on complex, service-heavy verticals like retail, restaurants, and golf. Its main edge comes from offering an all-in-one, cloud-based platform that handles point-of-sale, payments, e‑commerce, inventory, analytics, and more in a single system. Once embedded, this creates meaningful switching costs for customers because so many day-to-day processes depend on the software. Vertical depth, integrations from multiple acquisitions, and its own payments offering help differentiate it from more generic platforms, though it must still compete with very large players with strong brand recognition and broad ecosystems.

Innovation and R&D

Innovation and R&D Innovation is clearly a core part of the strategy. Lightspeed has been investing in artificial intelligence, data analytics, and workflow tools tailored to its target industries. Recent launches include AI-assisted web and store builders, data-driven tools for restaurant pacing and order management, and mobile checkout capabilities that extend sales to the shop floor. The company has also integrated acquired products to create a richer, unified platform and is exploring more financial services for its customers. The key question is execution: can Lightspeed translate these innovations into higher adoption of payments, higher revenue per customer, and lower churn over time?

Summary

Lightspeed shows a typical profile of a scaling software platform: strong and steady revenue growth, clear product differentiation, and a focus on innovation, offset by persistent losses and still-negative cash flow. The balance sheet remains supportive, with good cash reserves and minimal debt, giving the company time to continue investing in its unified commerce strategy. Its competitive position benefits from deep specialization and high switching costs, but it operates alongside powerful, well-funded rivals. The central issue for the coming years is whether Lightspeed can convert its innovation pipeline and growing scale into durable profitability and cash generation, without losing its growth momentum.

NEWS

November 24, 2025 · 12:00 PM UTC

Lightspeed Commerce Unveils Tempo, a Revolutionary New Pacing Intelligence for Restaurants

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November 13, 2025 · 7:00 AM UTC

Lightspeed Appoints Industry Veteran Gabriel Benavides as Chief Revenue Officer to Accelerate Profitable Growth

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November 13, 2025 · 7:00 AM UTC

Millennium Systems International Appoints Adam Schneider as Chief Financial Officer

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November 6, 2025 · 7:00 AM UTC

Lightspeed Announces Second Quarter 2026 Financial Results and Raises Outlook for Fiscal 2026

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October 29, 2025 · 7:05 AM UTC

NuORDER by Lightspeed Extends Partnership with Nordstrom as Retailer Invests in Data-Driven Wholesale Strategies

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