Lightspeed Commerce Inc Financials

LSPD

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2025 Currency USD FYE March

This page shows Lightspeed Commerce Inc (LSPD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI LSPD FY2025 2026-04-22

Revenue growth is increasingly converting into cash discipline, while reported losses are being shaped more by accounting charges than operating burn.

Between FY2024 and FY2025, free cash flow improved to -$36.5M while the net loss widened to -$667.2M. With goodwill and total assets both dropping sharply over the same span, that mismatch is consistent with a loss dominated by non-cash balance-sheet charges rather than a comparable rise in day-to-day cash consumption.

Liquidity is still comfortable because the company holds $558.5M of cash against only $162.2M of total liabilities. This looks like a business funded mainly by prior equity capital, so short-term pressure is about improving operations, not satisfying lenders. Current liabilities are modest relative to current assets, reinforcing that near-term obligations are not what is driving the income statement volatility.

From FY2021 to FY2025, revenue scaled to $1.08B while free-cash-flow margin improved to -3.4%. That means the operating model is absorbing growth with far less cash burn than before, even though it has not yet reached self-funding. In practice, each new dollar of sales now needs much less external cash support than it did earlier in the expansion phase.

Financial Health Signals

Financial Profile 45/100

Based on FY2025 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Lightspeed Commerce Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Growth

Lightspeed Commerce Inc's revenue surged 18.4% year-over-year to $1.1B, reflecting rapid business expansion. This strong growth earns a score of 69/100.

Leverage

100

Lightspeed Commerce Inc carries a low D/E ratio of 0.01, meaning only $0.01 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 100/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

100

With a current ratio of 5.36, Lightspeed Commerce Inc holds $5.36 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 100/100.

Cash Flow

While Lightspeed Commerce Inc generated -$32.8M in operating cash flow, capex of $3.8M consumed most of it, leaving -$36.5M in free cash flow. This results in a low score of 3/100, reflecting heavy capital investment rather than weak cash generation.

Returns

Lightspeed Commerce Inc generates a -40.1% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100. This is down from -6.8% the prior year.

Piotroski F-Score Neutral

4/9

Lightspeed Commerce Inc passes 4 of 9 financial strength tests. 1 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality

0.05x

For every $1 of reported earnings, Lightspeed Commerce Inc generates $0.05 in operating cash flow (-$32.8M OCF vs -$667.2M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Key Financial Metrics

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Earnings & Revenue

Revenue

$1.1B

YoY+18.4%

5Y CAGR+54.9%

Lightspeed Commerce Inc generated $1.1B in revenue in fiscal year 2025. This represents an increase of 18.4% from the prior year.

EBITDA

N/A

Net Income

-$667.2M

YoY-306.9%

Lightspeed Commerce Inc reported -$667.2M in net income in fiscal year 2025. This represents a decrease of 306.9% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

-$36.5M

YoY+65.3%

Lightspeed Commerce Inc generated -$36.5M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 65.3% from the prior year.

Cash & Debt

$558.5M

YoY-22.7%

5Y CAGR+21.5%

Lightspeed Commerce Inc held $558.5M in cash against $11.3M in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

146M

YoY-4.7%

Lightspeed Commerce Inc had 146M shares outstanding in fiscal year 2025. This represents a decrease of 4.7% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

-62.0%

YoY-43.9pp

5Y CAGR-17.6pp

Lightspeed Commerce Inc's net profit margin was -62.0% in fiscal year 2025, showing the share of revenue converted to profit. This is down 43.9 percentage points from the prior year.

Return on Equity

-40.1%

YoY-33.3pp

5Y CAGR-24.5pp

Lightspeed Commerce Inc's ROE was -40.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 33.3 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$3.8M

YoY-49.6%

5Y CAGR+0.9%

Lightspeed Commerce Inc invested $3.8M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents a decrease of 49.6% from the prior year.

LSPD Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$1.1B+18.4%	$909.3M+24.5%	$730.5M+33.2%	$548.4M+147.3%	$221.7M+83.8%	$120.6M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$1.3M+7.8%	$1.2M+12.7%	$1.1M-10.7%	$1.2M+14.9%	$1.0M+23.0%	$852K
Income Tax	$7.7M+121.1%	$3.5M+182.4%	-$4.2M+84.3%	-$26.9M-364.8%	-$5.8M-86.2%	-$3.1M
Net Income	-$667.2M-306.9%	-$164.0M+84.7%	-$1.1B-271.0%	-$288.4M-132.1%	-$124.3M-132.2%	-$53.5M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20
Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	N/A	N/A	N/A	N/A	N/A	N/A
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	N/A	N/A	N/A	N/A	N/A	N/A
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

LSPD Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$1.8B-29.1%	$2.6B-3.5%	$2.7B-26.3%	$3.6B+71.9%	$2.1B+340.0%	$478.4M
Current Assets	$798.0M-13.1%	$917.9M-1.8%	$934.3M-10.4%	$1.0B+21.6%	$857.7M+267.8%	$233.2M
Cash & Equivalents	$558.5M-22.7%	$722.1M-9.8%	$800.2M-16.1%	$953.7M+18.2%	$807.1M+282.6%	$211.0M
Inventory	$14.6M-11.4%	$16.5M+28.5%	$12.8M+70.3%	$7.5M+379.3%	$1.6M+68.8%	$932K
Accounts Receivable	$53.1M-14.8%	$62.3M+13.6%	$54.8M+19.8%	$45.8M+84.8%	$24.8M+127.7%	$10.9M
Goodwill	$798.0M-40.9%	$1.3B-0.1%	$1.4B-35.8%	$2.1B+116.5%	$971.9M+563.0%	$146.6M
Total Liabilities	$162.2M-0.3%	$162.8M-5.0%	$171.3M-22.4%	$220.7M+29.0%	$171.0M+27.4%	$134.3M
Current Liabilities	$149.0M+3.0%	$144.7M-3.8%	$150.5M-4.7%	$157.9M+39.2%	$113.4M+60.2%	$70.8M
Long-Term Debt	$11.3M-30.4%	$16.3M-12.4%	$18.6M-19.4%	$23.0M+12.1%	$20.6M+51.8%	$13.5M
Total Equity	$1.7B-31.0%	$2.4B-3.4%	$2.5B-26.5%	$3.4B+75.7%	$1.9B+462.1%	$344.1M
Retained Earnings	-$2.7B-24.4%	-$2.2B-8.2%	-$2.0B-115.5%	-$926.2M-45.2%	-$637.8M-24.2%	-$513.5M

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20
Total Assets	$1.8B-29.1%	$2.6B-3.5%	$2.7B-26.3%	$3.6B+71.9%	$2.1B+340.0%	$478.4M
Current Assets	$798.0M-13.1%	$917.9M-1.8%	$934.3M-10.4%	$1.0B+21.6%	$857.7M+267.8%	$233.2M
Cash & Equivalents	$558.5M-22.7%	$722.1M-9.8%	$800.2M-16.1%	$953.7M+18.2%	$807.1M+282.6%	$211.0M
Inventory	$14.6M-11.4%	$16.5M+28.5%	$12.8M+70.3%	$7.5M+379.3%	$1.6M+68.8%	$932K
Accounts Receivable	$53.1M-14.8%	$62.3M+13.6%	$54.8M+19.8%	$45.8M+84.8%	$24.8M+127.7%	$10.9M
Goodwill	$798.0M-40.9%	$1.3B-0.1%	$1.4B-35.8%	$2.1B+116.5%	$971.9M+563.0%	$146.6M
Total Liabilities	$162.2M-0.3%	$162.8M-5.0%	$171.3M-22.4%	$220.7M+29.0%	$171.0M+27.4%	$134.3M
Current Liabilities	$149.0M+3.0%	$144.7M-3.8%	$150.5M-4.7%	$157.9M+39.2%	$113.4M+60.2%	$70.8M
Long-Term Debt	$11.3M-30.4%	$16.3M-12.4%	$18.6M-19.4%	$23.0M+12.1%	$20.6M+51.8%	$13.5M
Total Equity	$1.7B-31.0%	$2.4B-3.4%	$2.5B-26.5%	$3.4B+75.7%	$1.9B+462.1%	$344.1M
Retained Earnings	-$2.7B-24.4%	-$2.2B-8.2%	-$2.0B-115.5%	-$926.2M-45.2%	-$637.8M-24.2%	-$513.5M

LSPD Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	-$32.8M+66.5%	-$97.7M+22.0%	-$125.3M-43.6%	-$87.2M+6.3%	-$93.1M-226.0%	-$28.6M
Capital Expenditures	$3.8M-49.6%	$7.5M-18.7%	$9.2M-13.4%	$10.7M+493.8%	$1.8M-50.3%	$3.6M
Free Cash Flow	-$36.5M+65.3%	-$105.2M+21.8%	-$134.5M-37.4%	-$97.9M-3.2%	-$94.9M-195.0%	-$32.2M
Investing Cash Flow	$8.0M-69.0%	$25.9M+194.3%	$8.8M+101.6%	-$563.9M-139.9%	-$235.0M-95.4%	-$120.3M
Financing Cash Flow	-$138.7M-2127.4%	-$6.2M+82.4%	-$35.4M-104.4%	$798.1M-13.5%	$922.3M+500.7%	$153.5M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20
Operating Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A

LSPD Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	-62.0%-43.9pp	-18.0%+128.5pp	-146.5%-93.9pp	-52.6%+3.4pp	-56.0%-11.7pp	-44.4%
Return on Equity	-40.1%-33.3pp	-6.8%+36.0pp	-42.8%-34.4pp	-8.5%-2.1pp	-6.4%+9.1pp	-15.6%
Return on Assets	-36.5%-30.2pp	-6.4%+33.7pp	-40.1%-32.1pp	-8.0%-2.1pp	-5.9%+5.3pp	-11.2%
Current Ratio	5.36-1.0	6.34+0.1	6.21-0.4	6.60-1.0	7.56+4.3	3.29
Debt-to-Equity	0.010.0	0.010.0	0.010.0	0.010.0	0.01-0.0	0.04
FCF Margin	-3.4%+8.2pp	-11.6%+6.8pp	-18.4%-0.6pp	-17.8%+24.9pp	-42.8%-16.1pp	-26.7%

Metric	Q4'25	Q4'24	Q4'23	Q4'22	Q4'21	Q4'20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	N/A	N/A	N/A	N/A	N/A	N/A
Current Ratio	5.36-1.0	6.34+0.1	6.21-0.4	6.60-1.0	7.56+4.3	3.29
Debt-to-Equity	0.010.0	0.010.0	0.010.0	0.010.0	0.01-0.0	0.04
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

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Frequently Asked Questions

What is Lightspeed Commerce Inc's annual revenue?

Lightspeed Commerce Inc (LSPD) reported $1.1B in total revenue for fiscal year 2025. This represents a 18.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Lightspeed Commerce Inc's revenue growing?

Lightspeed Commerce Inc (LSPD) revenue grew by 18.4% year-over-year, from $909.3M to $1.1B in fiscal year 2025.

Is Lightspeed Commerce Inc profitable?

No, Lightspeed Commerce Inc (LSPD) reported a net income of -$667.2M in fiscal year 2025, with a net profit margin of -62.0%.

How much debt does Lightspeed Commerce Inc have?

As of fiscal year 2025, Lightspeed Commerce Inc (LSPD) had $558.5M in cash and equivalents against $11.3M in long-term debt.

What is Lightspeed Commerce Inc's net profit margin?

Lightspeed Commerce Inc (LSPD) had a net profit margin of -62.0% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Lightspeed Commerce Inc's return on equity (ROE)?

Lightspeed Commerce Inc (LSPD) has a return on equity of -40.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Lightspeed Commerce Inc's free cash flow?

Lightspeed Commerce Inc (LSPD) generated -$36.5M in free cash flow during fiscal year 2025. This represents a 65.3% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Lightspeed Commerce Inc's operating cash flow?

Lightspeed Commerce Inc (LSPD) generated -$32.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Lightspeed Commerce Inc's total assets?

Lightspeed Commerce Inc (LSPD) had $1.8B in total assets as of fiscal year 2025, including both current and long-term assets.

What are Lightspeed Commerce Inc's capital expenditures?

Lightspeed Commerce Inc (LSPD) invested $3.8M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

How many shares does Lightspeed Commerce Inc have outstanding?

Lightspeed Commerce Inc (LSPD) had 146M shares outstanding as of fiscal year 2025.

What is Lightspeed Commerce Inc's current ratio?

Lightspeed Commerce Inc (LSPD) had a current ratio of 5.36 as of fiscal year 2025, which is generally considered healthy.

What is Lightspeed Commerce Inc's debt-to-equity ratio?

Lightspeed Commerce Inc (LSPD) had a debt-to-equity ratio of 0.01 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Lightspeed Commerce Inc's return on assets (ROA)?

Lightspeed Commerce Inc (LSPD) had a return on assets of -36.5% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Lightspeed Commerce Inc's cash runway?

Based on fiscal year 2025 data, Lightspeed Commerce Inc (LSPD) had $558.5M in cash against an annual operating cash burn of $32.8M. This gives an estimated cash runway of approximately 205 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

What is Lightspeed Commerce Inc's Piotroski F-Score?

Lightspeed Commerce Inc (LSPD) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Lightspeed Commerce Inc's earnings high quality?

Lightspeed Commerce Inc (LSPD) has an earnings quality ratio of 0.05x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Lightspeed Commerce Inc?

Lightspeed Commerce Inc (LSPD) scores 45 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.