Lightspeed Commerce Inc.
LSPD NYSE Services-Prepackaged Software Financials FY2020–FY2026
Last close · Oct 23, 2026
$11.13
0.7%
Revenue
Total sales reported in the income statement.
$1.2B
14.0%
vs prior year
Operating margin
Operating income as a share of revenue.
−12.4%
52.2 pts
Net income
Profit after all expenses, interest and tax.
−$144M
Free cash flow
Cash from operations minus capital spending.
$48.9M
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
—
Market cap
Last close times the latest diluted share count, so it is approximate.
$1.5B
Oct 23 close
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On −$1.04 EPS (TTM)
What Lightspeed Commerce Inc. does
No business description yet.
- Legal name
- Lightspeed Commerce Inc.
- Fiscal year ends
- March 31, 2026
- Latest annual report
- 40-F · May 21, 2026
- Accession · CIK
- 0001823306-26-000025
0001823306
Revenue and margins
Lightspeed Commerce Inc. had $1.2B of revenue in fiscal 2026, up 14.0% on the year before.
FY20
Revenue $121M
FY21
Revenue $222M
FY22
Revenue $548M
FY23
Revenue $731M
FY24
Revenue $909M
FY25
Revenue $1.1B
FY26
Revenue $1.2B
FY20
Gross 67.1%
Operating −48.4%
Net −44.4%
FCF −26.7%
FY21
Gross 57.6%
Operating −58.5%
Net −56.0%
FCF −42.8%
FY22
Gross 49.5%
Operating −58.1%
Net −52.6%
FCF −17.8%
FY23
Gross 45.4%
Operating −150.4%
Net −146.5%
FCF −18.4%
FY24
Gross 42.4%
Operating −22.3%
Net −18.0%
FCF −11.6%
FY25
Gross 41.8%
Operating −64.6%
Net −62.0%
FCF −3.4%
FY26
Gross 42.9%
Operating −12.4%
Net −11.8%
FCF 4.0%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY20
Net income −$53.5M
FY21
Net income −$124M
FY22
Net income −$288M
FY23
Net income −$1.1B
FY24
Net income −$164M
FY25
Net income −$667M
FY26
Net income −$144M
FY20
Diluted EPS −$0.62
FY21
Diluted EPS −$1.18
FY22
Diluted EPS −$2.04
FY23
Diluted EPS −$7.11
FY24
Diluted EPS −$1.07
FY25
Diluted EPS −$4.34
FY26
Diluted EPS −$1.04
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY20
Return on capital −28.3%
Return on equity −15.6%
Return on assets −11.2%
FY21
Return on capital −8.9%
Return on equity −10.9%
Return on assets −9.6%
FY22
Return on capital −10.2%
Return on equity −10.8%
Return on assets −10.1%
FY23
Return on capital −51.2%
Return on equity −36.3%
Return on assets −34.0%
FY24
Return on capital —
Return on equity −6.7%
Return on assets −6.3%
FY25
Return on capital —
Return on equity −32.7%
Return on assets −30.3%
FY26
Return on capital —
Return on equity −9.2%
Return on assets −8.3%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was $48.9M in fiscal 2026, 4.0% of revenue. Cash from operations minus capital spending.
FY20
Free cash flow −$32.2M
FY21
Free cash flow −$94.9M
FY22
Free cash flow −$97.9M
FY23
Free cash flow −$135M
FY24
Free cash flow −$105M
FY25
Free cash flow −$36.5M
FY26
Free cash flow $48.9M
FY20
Cash from operations −$28.6M
Capital spending $3.6M
FY21
Cash from operations −$93.1M
Capital spending $1.8M
FY22
Cash from operations −$87.2M
Capital spending $10.7M
FY23
Cash from operations −$125M
Capital spending $9.2M
FY24
Cash from operations −$97.7M
Capital spending $7.5M
FY25
Cash from operations −$32.8M
Capital spending $3.8M
FY26
Cash from operations $55.5M
Capital spending $6.6M
Cash from operations
Capital spending
Dividends, buybacks and share count
Lightspeed Commerce Inc. returned $86.2M to shareholders in fiscal 2026, 176% of free cash flow. The diluted share count fell 9.4%.
FY20
Dividends —
Buybacks —
FY21
Dividends —
Buybacks —
FY22
Dividends —
Buybacks —
FY23
Dividends —
Buybacks —
FY24
Dividends —
Buybacks $0.0M
FY25
Dividends —
Buybacks $132M
FY26
Dividends —
Buybacks $86.2M
Dividends
Buybacks
FY20
Diluted shares 0.09B
FY21
Diluted shares 0.11B
FY22
Diluted shares 0.14B
FY23
Diluted shares 0.15B
FY24
Diluted shares 0.15B
FY25
Diluted shares 0.15B
FY26
Diluted shares 0.14B
Balance sheet
Cash, debt and the ratios that show how comfortably Lightspeed Commerce Inc. can carry it.
FY20
Cash $211M
Debt $29.7M
FY21
Cash $807M
Debt $29.8M
FY22
Cash $954M
Debt $29.8M
FY23
Cash $800M
Debt $0.0M
FY24
Cash $722M
Debt —
FY25
Cash $558M
Debt —
FY26
Cash $454M
Debt —
Cash
Debt
| Fiscal year end | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Cash and short-term investments | $954M | $800M | $722M | $558M | $454M |
| Debt incl. finance leases | $29.8M | $0.0M | — | — | — |
| Debt / equity | 0.0x | 0.0x | — | — | — |
| Interest coverage | −111.0x | −535.1x | −142.2x | −470.0x | −120.0x |
| Current ratio | 6.6x | 6.2x | 6.3x | 5.4x | 4.3x |
| Quick ratio | 6.6x | 6.1x | 6.2x | 5.3x | 4.2x |
| Total assets | $3.6B | $2.7B | $2.6B | $1.8B | $1.7B |
| Total liabilities | $221M | $171M | $163M | $162M | $182M |
| Shareholders' equity | $3.4B | $2.5B | $2.4B | $1.7B | $1.5B |
| Net debt (− = net cash) | −$924M | −$800M | — | — | — |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. “Plan” marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|
| Net income is positive | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ |
| Cash from operations is positive | ✕ | ✕ | ✕ | ✕ | ✕ | ✕ | ✓ |
| Return on assets rose | — | ✓ | ✕ | ✕ | ✓ | ✕ | ✓ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ | ✓ |
| Debt fell relative to assets | — | ✓ | ✓ | ✓ | — | — | — |
| Current ratio rose | — | ✓ | ✕ | ✕ | ✓ | ✕ | ✕ |
| Share count didn't rise | — | ✕ | ✕ | ✕ | ✕ | ✓ | ✓ |
| Gross margin rose | — | ✕ | ✕ | ✕ | ✕ | ✕ | ✓ |
| Revenue rose relative to assets | — | ✕ | ✓ | ✓ | ✓ | ✓ | ✓ |
| F-score | — / 3 | 4 / 9 | 3 / 9 | 3 / 9 | 4 / 8 | 3 / 8 | 6 / 8 |
| Accruals ratio | −5.2% | −2.4% | −7.0% | −30.0% | −2.5% | −28.8% | −11.4% |
| Altman Z'' | 0.60 | 12.79 | 16.35 | 12.03 | 14.27 | 5.74 | 4.89 |
7 years of figures
Amounts in USD. Hover a ratio’s name for its definition.
| Fiscal year | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | $121M | $222M | $548M | $731M | $909M | $1.1B | $1.2B |
| Net interest income | $1.8M | −$0.4M | $3.0M | $24.8M | $42.5M | $36.5M | $8.2M |
| Gross profit | $81.0M | $128M | $271M | $332M | $385M | $450M | $527M |
| Research and development | $32.8M | $55.3M | $121M | $140M | $129M | $120M | $126M |
| Operating income | −$58.4M | −$130M | −$318M | −$1.1B | −$203M | −$696M | −$152M |
| Interest expense | $1.8M | $2.9M | $2.9M | $2.1M | $1.4M | $1.5M | $1.3M |
| Pretax income | −$56.6M | −$130M | −$315M | −$1.1B | −$160M | −$660M | −$144M |
| Income tax | −$3.1M | −$5.8M | −$26.9M | −$4.2M | $3.5M | $7.7M | $0.4M |
| Net income | −$53.5M | −$124M | −$288M | −$1.1B | −$164M | −$667M | −$144M |
| Diluted EPS | −$0.62 | −$1.18 | −$2.04 | −$7.11 | −$1.07 | −$4.34 | −$1.04 |
| Diluted shares | 0.09B | 0.11B | 0.14B | 0.15B | 0.15B | 0.15B | 0.14B |
| Cash flow | |||||||
| Cash from operations | −$28.6M | −$93.1M | −$87.2M | −$125M | −$97.7M | −$32.8M | $55.5M |
| Capital expenditure | $3.6M | $1.8M | $10.7M | $9.2M | $7.5M | $3.8M | $6.6M |
| Free cash flow | −$32.2M | −$94.9M | −$97.9M | −$135M | −$105M | −$36.5M | $48.9M |
| Stock-based compensation | $8.9M | $32.7M | $109M | $129M | $74.9M | $55.6M | $57.0M |
| Acquisitions | $120M | $236M | $559M | $0.0M | $0.0M | $7.5M | $0.2M |
| Share buybacks | — | — | — | — | $0.0M | $132M | $86.2M |
| Dividends and buybacks | — | — | — | — | $0.0M | $132M | $86.2M |
| Balance sheet | |||||||
| Cash and short-term investments | $211M | $807M | $954M | $800M | $722M | $558M | $454M |
| Total debt | $29.7M | $29.8M | $29.8M | $0.0M | — | — | — |
| Loans, net | $0.0M | $2.3M | $6.3M | $29.5M | $74.2M | $106M | $118M |
| Current assets | $233M | $858M | $1.0B | $934M | $918M | $798M | $706M |
| Current liabilities | $70.8M | $113M | $158M | $150M | $145M | $149M | $165M |
| Inventory | $0.9M | $1.6M | $7.5M | $12.8M | $16.5M | $14.6M | $15.9M |
| Property and equipment, net | $8.0M | $8.3M | $16.5M | $19.5M | $20.5M | $17.1M | $17.0M |
| Goodwill | $147M | $972M | $2.1B | $1.4B | $1.3B | $798M | $805M |
| Intangible assets | $62.8M | $234M | $410M | $311M | $227M | $160M | $73.6M |
| Total assets | $478M | $2.1B | $3.6B | $2.7B | $2.6B | $1.8B | $1.7B |
| Total liabilities | $134M | $171M | $221M | $171M | $163M | $162M | $182M |
| Shareholders' equity | $344M | $1.9B | $3.4B | $2.5B | $2.4B | $1.7B | $1.5B |
| Margins | |||||||
| Gross margin | 67.1% | 57.6% | 49.5% | 45.4% | 42.4% | 41.8% | 42.9% |
| Operating margin | −48.4% | −58.5% | −58.1% | −150.4% | −22.3% | −64.6% | −12.4% |
| Net margin | −44.4% | −56.0% | −52.6% | −146.5% | −18.0% | −62.0% | −11.8% |
| FCF margin | −26.7% | −42.8% | −17.8% | −18.4% | −11.6% | −3.4% | 4.0% |
| Net interest share of revenue | 1.5% | −0.2% | 0.5% | 3.4% | 4.7% | 3.4% | 0.7% |
| Returns | |||||||
| Return on capital | −28.3% | −8.9% | −10.2% | −51.2% | — | — | — |
| Return on capital employed | −14.3% | −6.5% | −9.2% | −43.6% | −8.4% | −41.5% | −10.2% |
| Return on equity | −15.6% | −10.9% | −10.8% | −36.3% | −6.7% | −32.7% | −9.2% |
| Return on assets | −11.2% | −9.6% | −10.1% | −34.0% | −6.3% | −30.3% | −8.3% |
| Return on tangible equity | −39.7% | −17.1% | −32.6% | −128.1% | −19.6% | −94.4% | −23.9% |
| Growth | |||||||
| Revenue growth | — | 83.8% | 147.3% | 33.2% | 24.5% | 18.4% | 14.0% |
| Share count change | — | 22.5% | 34.6% | 6.2% | 2.2% | −0.1% | −9.4% |
| Financial health | |||||||
| Debt / equity | 0.1x | 0.0x | 0.0x | 0.0x | — | — | — |
| Interest coverage | −32.3x | −44.8x | −111.0x | −535.1x | −142.2x | −470.0x | −120.0x |
| Current ratio | 3.3x | 7.6x | 6.6x | 6.2x | 6.3x | 5.4x | 4.3x |
| Quick ratio | 3.3x | 7.5x | 6.6x | 6.1x | 6.2x | 5.3x | 4.2x |
| Capital allocation | |||||||
| Capex / revenue | 3.0% | 0.8% | 1.9% | 1.3% | 0.8% | 0.4% | 0.5% |
| Stock comp / revenue | 7.4% | 14.8% | 19.9% | 17.7% | 8.2% | 5.2% | 4.6% |
| Payouts / FCF | — | — | — | — | — | — | 176.4% |
| Quality scores | |||||||
| Piotroski F-score | — | 4.0 | 3.0 | 3.0 | 4.0 | 3.0 | 6.0 |
| Altman Z'' | 0.6 | 12.8 | 16.4 | 12.0 | 14.3 | 5.7 | 4.9 |
| Accruals ratio | −5.2% | −2.4% | −7.0% | −30.0% | −2.5% | −28.8% | −11.4% |
Source: SEC EDGAR XBRL filings (CIK 0001823306). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.