Lightspeed Commerce anticipates sustained revenue growth through 2026 driven by its payments-led strategy. Payments-led strategy positions Lightspeed for sustained revenue growth through 2026.
| Nov 25 | Feb 26 | May 26 | Aug 26 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Buy | — | — | — | — | — | — | — | — | — | — | — | — |
| Sell | — | — | — | — | — | — | — | — | — | — | — | — |
| total | individual payouts | |
|---|---|---|
| 2024 | ‡‡‡ |
|
| 2023 | ‡‡‡ |
|
| 2022 | ‡‡‡ |
|
| 2021 | ‡‡‡ |
|
| 2024 | 2025 | 2026 | Q'26 | |
|---|---|---|---|---|
| Cash | 722.10 | 558.47 | 453.91 | 372.14 |
| Receivables | 62.28 | 53.08 | 47.60 | 71.95 |
| Inventory | 16.49 | 14.61 | 15.89 | 17.17 |
| Other | 117.02 | 171.87 | 189.02 | 186.10 |
| 917.90 | 798.02 | 706.42 | 647.35 |
| 2024 | 2025 | 2026 | Q'26 | |
|---|---|---|---|---|
| Payables | 68.68 | 73.08 | 80.59 | 96.89 |
| ST’ Debt | — | — | — | — |
| Other | — | — | — | — |
| 144.67 | 148.98 | 165.11 | 182.50 |
| 10y | 5y | 3y | |
| Sales | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Cash Flow | ‡‡‡ | ‡‡‡ | ‡‡‡ |
| Earnings | ‡‡‡ | ‡‡‡ | ‡‡‡ |
| Book Value | — | ‡‡‡‡‡ | ‡‡‡‡‡ |
| Jun | Sep | Dec | Mar | Year | |
|---|---|---|---|---|---|
| ’26 | 322.70 | — | — | — |
—
|
| ’26 | 304.94 | 318.96 | 312.35 | 290.80 |
1,227.05
|
| ’25 | 266.09 | 277.18 | 280.13 | 253.42 |
1,076.83
|
| ’24 | 209.09 | 230.27 | 239.70 | 230.22 |
909.27
|
| ’23 | 173.88 | 183.70 | 188.70 | 184.23 |
730.51
|
| ’22 | 115.92 | 133.22 | 152.68 | 146.56 |
548.37
|
| ’21 | 36.23 | 45.49 | 57.61 | 82.40 |
221.73
|
| Jun | Sep | Dec | Mar | Year | |
|---|---|---|---|---|---|
| ’26 | 0.12 | — | — | — |
—
|
| ’26 | 12.40 | 25.54 | 28.90 | (11.38) |
55.46
|
| ’25 | (14.23) | (11.31) | 2.72 | (9.94) |
(32.76)
|
| ’24 | (26.09) | (24.85) | (18.19) | (28.54) |
(97.67)
|
| ’23 | (33.41) | (23.86) | (26.42) | (41.59) |
(125.28)
|
| ’22 | (14.61) | (13.03) | (48.24) | (11.34) |
(87.22)
|
| ’21 | (7.41) | (7.38) | (54.14) | (24.13) |
(93.06)
|
| Jun | Sep | Dec | Mar | Year | |
|---|---|---|---|---|---|
| ’26 | (17.76) | — | — | — |
—
|
| ’26 | 0.08 | 10.87 | 12.95 | (27.83) |
(3.93)
|
| ’25 | (18.35) | (17.20) | (3.40) | (16.94) |
(55.88)
|
| ’24 | (29.44) | (28.54) | (23.06) | (34.81) |
(115.85)
|
| ’23 | (37.10) | (26.88) | (29.31) | (45.12) |
(138.40)
|
| ’22 | (15.84) | (15.33) | (53.45) | (13.25) |
(97.87)
|
| ’21 | (7.57) | (7.86) | (54.93) | (24.49) |
(94.86)
|
| Jun | Sep | Dec | Mar | Year | |
|---|---|---|---|---|---|
| ’26 | (0.02) | — | — | — |
—
|
| ’26 | (0.35) | (0.24) | (0.24) | (0.20) |
(1.04)
|
| ’25 | (0.23) | (0.19) | (0.17) | (3.79) |
(4.34)
|
| ’24 | (0.32) | (0.28) | (0.26) | (0.21) |
(1.07)
|
| ’23 | (0.68) | (0.53) | (5.39) | (0.49) |
(7.11)
|
| ’22 | (0.38) | (0.43) | (0.44) | (0.77) |
(2.04)
|
| ’21 | (0.22) | (0.20) | (0.39) | (0.34) |
(1.18)
|
| 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 | 2029 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| — | — | — | ‡‡‡‡‡ | ‡‡‡‡‡ | 12.71 | 12.23 | 11.01 | 7.34 | 7.83 | — | — | — |
Low Price
|
| — | — | — | ‡‡‡‡ | ‡‡‡‡‡ | 41.50 | 21.71 | 20.59 | 16.24 | 12.59 | — | — | — |
High Price
|
| — | — | — | — | ‡‡‡‡‡ | 3,000 | 3,000 | 3,000 | 3,000 | 3,400 | — | — | — |
Employees
|
| ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | 0.18 | 0.24 | 0.30 | 0.36 | 0.36 | — | — | — |
Revenue/Emp
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 548.37 | 730.51 | 909.27 | 1,076.83 | 1,227.05 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 49.45% | 45.44% | 42.37% | 41.81% | 42.94% | — | — | — |
Gross Margin
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (315.35) | (1,074.23) | (160.49) | (659.51) | (144.05) | ‡‡‡‡‡ | — | — |
EBT
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (57.51%) | (147.05%) | (17.65%) | (61.25%) | (11.74%) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
EBT Margin
|
| ‡‡‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (288.43) | (1,070.01) | (163.96) | (667.20) | (144.41) | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Net Income
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 104.55 | 115.26 | 109.63 | 100.99 | 150.76 | — | — | — |
Depreciation
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3.87 | 4.86 | 5.91 | 7.01 | 8.82 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Revenue/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (2.04) | (7.11) | (1.07) | (4.34) | (1.04) | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Earnings/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.62) | (0.83) | (0.64) | (0.21) | 0.40 | ‡‡‡‡ | — | — |
Cash Flow/Sh
|
| ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.08) | (0.09) | (0.12) | (0.15) | (0.43) | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Capex/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (0.69) | (0.92) | (0.75) | (0.36) | (0.03) | — | — | — |
Free CF/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 24.01 | 16.60 | 15.69 | 10.83 | 10.66 | ‡‡‡‡‡ | — | — |
Book Value/Sh
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 141.58 | 150.40 | 153.77 | 153.68 | 139.17 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
Shares
|
| ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ |
PE Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 7.87 | 3.13 | 2.40 | 1.25 | 1.02 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PS Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 1.27 | 0.91 | 0.90 | 0.81 | 0.84 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
PB Ratio
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 6.24 | 2.06 | 1.63 | 0.75 | 0.66 | ‡‡‡‡ | ‡‡‡‡ | ‡‡‡‡ |
EV/Sales
|
| ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | (34.96) | (10.90) | (12.79) | (14.39) | (207.35) | — | — | — |
EV/FCF
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (87.22) | (125.28) | (97.67) | (32.76) | 55.46 | ‡‡‡ | ‡‡‡ | ‡‡‡ |
Op' Cash Flow
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (10.65) | (13.12) | (18.18) | (23.12) | (59.39) | ‡‡‡‡‡ | — | — |
Capex
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (97.87) | (138.40) | (115.85) | (55.88) | (3.93) | ‡‡‡‡‡ | — | — |
FCF
|
| ‡‡‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 884.64 | 783.88 | 773.23 | 649.04 | 541.31 | — | — | — |
Working Cap'
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | — | ‡‡‡‡‡ | ‡‡‡‡‡ | 60.88 | 25.19 | 16.27 | 11.32 | 14.91 | — | — | — |
Total Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (892.78) | (774.96) | (705.83) | (547.15) | (439.00) | — | — | — |
Net Debt
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | 3,399.29 | 2,497.45 | 2,412.40 | 1,663.97 | 1,483.15 | — | — | — |
Sh' Equity
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (10.08%) | (34.03%) | (6.25%) | (30.32%) | (8.27%) | ‡‡‡‡‡ | — | — |
ROA
|
| ‡‡‡ | ‡‡‡ | ‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (7.94%) | (39.88%) | (7.44%) | (38.95%) | (9.12%) | — | — | — |
ROIC
|
| ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | ‡‡‡‡‡ | (10.82%) | (36.29%) | (6.68%) | (32.73%) | (9.18%) | ‡‡‡‡‡ | — | — |
ROE
|
Lightspeed Commerce (LSPD) has delivered explosive revenue growth, surging from $31 million in 2016 to a projected $1.07 billion in 2025 at over 35% CAGR, fueled by digital transformation in retail, hospitality, and services. Key metrics shine: revenue per employee doubled to $303,000 by 2024, and per-share revenue jumped 551% since 2019 amid tuck-in acquisitions and omnichannel demand. Yet, gross margins eroded to 42%, and cumulative losses exceed $2.8 billion, dragging the stock to multi-year lows and decoupling its stellar top-line from share price performance.
A profitability inflection looms, with free cash flow turning positive by 2026, EBT margins improving dramatically, and analysts forecasting breakeven net income by 2028 alongside 12-15% revenue CAGR. Balance sheet strength—debt slashed 74%, ample working capital—bolsters resilience, while valuations scream bargain at 2.4x sales and 0.9x book versus peers. In a $100B+ POS market ripe for AI and localization trends, LSPD’s cheap entry point offers 40-50% upside potential for growth investors betting on execution amid Fed rate relief.
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