LSPD Stock Analysis: Lightspeed Commerce | NYSE
Software - Application | NYSE, USA | Market Cap: 1.263m USD | 12M Return: -16.8% | CA53229C1077 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 5.96M
Qual. Beats: 0
Rev. Trend: 98.7%
Qual. Beats: 2
Warnings
Tailwinds
No distinct edge detected
Seasonality 7.1 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Lightspeed Commerce Inc. (LSPD) is a Montreal-based cloud software company that sells subscriptions and payments solutions to retailers, restaurants, golf course operators, and other small and mid-sized businesses. Its platform unifies point-of-sale (POS), back-office operations, inventory and employee management, kitchen display systems (KDS), loyalty tools, and omnichannel ordering (including curbside pickup) into a single cloud-based commerce system connecting suppliers, merchants, and consumers.
In addition to its core SaaS platform, Lightspeed offers tailored financial products such as Lightspeed Payments (payment processing) and Lightspeed Capital (merchant financing), along with vertical-specific offerings including Lightspeed Restaurant, Lightspeed Retail, Lightspeed eCommerce, Lightspeed Wholesale, and Lightspeed NuORDER. The company also sells supporting hardware-tablets, receipt printers, payment terminals, barcode scanners, and networking equipment-and provides installation and implementation services.
Sector context: Lightspeed operates in the GICS Information Technology sector (Systems Software sub-industry) under a subscription-based SaaS business model, generating recurring revenue from software subscriptions supplemented by payment processing fees and hardware sales. Founded in 2005 and formerly known as Lightspeed POS Inc. before rebranding in August 2021, the company listed on the NYSE in August 2019 and competes in the broader SMB commerce and merchant payments space alongside firms such as Square, Toast, and Shopify.
- Merchant count churn moderates as SMB retention improves
- Lightspeed Payments adoption expands blended gross margins
- Restaurant segment outpaces retail on hospitality recovery demand
| Net Income: -97.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA 4.61 > 1.0 |
| NWC/Revenue: 35.80% < 20% (prev 48.24%; Δ -12.44% < -1%) |
| CFO/TA 0.05 > 3% & CFO 85.8m > Net Income -97.3m |
| Net Debt (-353.3m) to EBITDA (14.8m): -23.85 < 3 |
| Current Ratio: 3.44 > 1.5 & < 3 |
| Outstanding Shares: last quarter (138.2m) vs 12m ago -1.86% < -2% |
| Gross Margin: 43.09% > 18% (prev 42.22%; Δ 0.87% > 0.5%) |
| Asset Turnover: 75.81% > 50% (prev 65.76%; Δ 10.06% > 0%) |
| Interest Coverage Ratio: -81.26 > 6 (EBIT TTM -106.9m / Interest Expense TTM 1.32m) |
| A: 0.28 (Total Current Assets 627.9m - Total Current Liabilities 182.3m) / Total Assets 1.59b |
| B: -1.56 (Retained Earnings -2.48b / Total Assets 1.59b) |
| C: -0.07 (EBIT TTM -106.9m / Avg Total Assets 1.64b) |
| D: 6.97 (Book Value of Equity 1.39b / Total Liabilities 199.2m) |
| Altman-Z'' = 3.62 = AA |
| DSRI: 0.90 (Receivables 71.9m/72.0m, Revenue 1.24b/1.12b) |
| GMI: 0.98 (GM 42.22% / 43.09%) |
| AQI: 1.01 (AQ_t 0.58 / AQ_t-1 0.58) |
| SGI: 1.12 (Revenue 1.24b / 1.12b) |
| TATA: -0.12 (NI -97.3m - CFO 85.8m) / TA 1.59b) |
| Beneish M = -3.05 (Cap -4..+1) = AA |
As of October 04, 2026, the stock is trading at USD 9.82 with a total of 1,244,155 shares traded. Over the past week, the price has changed by -0.51%, over one month by -5.67%, over three months by -9.07% and over the past year by -16.78%.
Current recommended Stop Loss: 9.40 (which is 4.3% or 1.4 ATR below the current price).
Lightspeed Commerce has received a consensus analysts rating of 3.55. Therefore, it is recommended to hold LSPD.
- StrongBuy: 4
- Buy: 4
- Hold: 11
- Sell: 1
- StrongSell: 0
| Analysts Target Price | 10.9 | 10.5% |
P/E Forward = 15.6986
P/S = 1.0148
P/B = 0.8923
Revenue TTM = 1.24b USD
EBIT TTM = -106.9m USD
EBITDA TTM = 14.8m USD
Long Term Debt = 14.6m USD (estimated: total debt 19.9m - short term 5.29m)
Short Term Debt = 5.29m USD (from shortTermDebt, last quarter)
Debt = 19.9m USD (from shortLongTermDebtTotal, last quarter) (leases 19.9m already included)
Net Debt = -353.3m USD (calculated: Debt 19.9m - CCE 373.2m)
Enterprise Value = 910.0m USD (1.26b + Debt 19.9m - CCE 373.2m)
Interest Coverage Ratio = -81.26 (Ebit TTM -106.9m / Interest Expense TTM 1.32m)
EV/FCF = 23.85x (Enterprise Value 910.0m / FCF TTM 38.2m)
FCF Yield = 4.19% (FCF TTM 38.2m / Enterprise Value 910.0m)
FCF Margin = 3.06% (FCF TTM 38.2m / Revenue TTM 1.24b)
Net Margin = -7.81% (Net Income TTM -97.3m / Revenue TTM 1.24b)
Gross Margin = 43.09% ((Revenue TTM 1.24b - Cost of Revenue TTM 708.4m) / Revenue TTM)
Gross Margin QoQ = 42.94% (prev 44.40%)
Tobins Q-Ratio = 0.57 (Enterprise Value 910.0m / Total Assets 1.59b)
Interest Expense / Debt = 6.60% (Interest Expense 1.32m / Debt 19.9m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -84.4m (EBIT -106.9m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 3.44 (Total Current Assets 627.9m / Total Current Liabilities 182.3m)
Debt / Equity = 0.01 (Debt 19.9m / totalStockholderEquity, last quarter 1.39b)
Debt / EBITDA = -23.85 (Net Debt -353.3m / EBITDA 14.8m)
Debt / FCF = -9.26 (Net Debt -353.3m / FCF TTM 38.2m)
Total Stockholder Equity = 1.47b (last 4 quarters mean from totalStockholderEquity)
RoA = -5.92% (Net Income -97.3m / Total Assets 1.59b)
RoE = -6.60% (Net Income TTM -97.3m / Total Stockholder Equity 1.47b)
RoCE = -7.18% (EBIT -106.9m / Capital Employed (Equity 1.47b + L.T.Debt 14.6m))
RoIC = -6.26% (negative operating profit) (NOPAT -84.4m / Invested Capital 1.35b)
WACC = 9.78% (E(1.26b)/V(1.28b) * Re(9.85%) + D(19.9m)/V(1.28b) * Rd(6.60%) * (1-Tc(0.21)))
Discount Rate = 9.85% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -90.53 | Cagr: -4.93%
[DCF] Terminal Value 70.59% ; FCFF base≈38.2m ; Y1≈38.3m ; Y5≈40.6m
[DCF] Fair Price = 6.66 (EV 507.8m - Net Debt -353.3m = Equity 861.1m / Shares 129.3m; r=9.78% [WACC]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.0 | # QB: 0
Revenue Correlation: 98.72 | Revenue CAGR: 16.56% | SUE: 1.89 | # QB: 2
EPS current Quarter (2026-09-30): EPS=0.17 | Chg30d=-1.07% | Revisions=+50% | Analysts=13
EPS next Quarter (2026-12-31): EPS=0.18 | Chg30d=+0.84% | Revisions=-18% | Analysts=12
EPS current Year (2027-03-31): EPS=0.62 | Chg30d=-0.05% | Revisions=+19% | GrowthEPS=+41.7% | GrowthRev=+2.9%
EPS next Year (2028-03-31): EPS=0.93 | Chg30d=+0.50% | Revisions=+0% | GrowthEPS=+49.6% | GrowthRev=+12.4%
[Analyst] Revisions Ratio: +14% (up=23, down=17)