(LSPD) Lightspeed Commerce - NYSE
Sector: Technology | Industry: Software - Application | Exchange: NYSE (USA) | Market Cap: 1.331m USD | Total Return: -12.3% in 12m
Avg Turnover: 14.0M
Qual. Beats: -1
Rev. Trend: 98.9%
Qual. Beats: 1
Warnings
Interest Coverage Ratio -112.6 is critical
Tailwinds
No distinct edge detected
Lightspeed Commerce Inc. is a Montreal-based provider of cloud-based commerce software and payment solutions, primarily serving small and medium-sized retailers, restaurants, and golf course operators. The company sells a unified platform that combines point of sale (POS), inventory and employee management, eCommerce, order management, loyalty, and analytics, alongside its proprietary Lightspeed Payments and Lightspeed Capital financial products. It also generates ancillary revenue through the resale of compatible hardware (tablets, receipt printers, scanners, payment terminals) and related installation services.
Lightspeed operates under a software-as-a-service (SaaS) business model, generating recurring subscription revenue from its commerce platform in addition to transaction-based fees from its integrated payments processing offering. The company was incorporated in 2005, originally operated as Lightspeed POS Inc., and rebranded to its current name in August 2021 to reflect its broader commerce capabilities beyond the point of sale.
- Restaurant segment recovery drives transaction-based payments revenue
- Toast competition intensifies pressure on mid-market POS pricing
- Operating leverage targets adjusted EBITDA profitability amid cost cuts
| Net Income: -144.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA 5.44 > 1.0 |
| NWC/Revenue: 42.66% < 20% (prev 60.27%; Δ -17.62% < -1%) |
| CFO/TA 0.06 > 3% & CFO 98.1m > Net Income -144.8m |
| Net Debt (-436.7m) to EBITDA (6.11m): -71.51 < 3 |
| Current Ratio: 4.16 > 1.5 & < 3 |
| Outstanding Shares: last quarter (139.5m) vs 12m ago -8.28% < -2% |
| Gross Margin: 36.80% > 18% (prev 41.81%; Δ -5.01% > 0.5%) |
| Asset Turnover: 70.24% > 50% (prev 58.97%; Δ 11.27% > 0%) |
| Interest Coverage Ratio: -112.6 > 6 (EBIT TTM -143.5m / Interest Expense TTM 1.27m) |
| A: 0.31 (Total Current Assets 689.5m - Total Current Liabilities 165.7m) / Total Assets 1.67b |
| B: -1.59 (Retained Earnings -2.66b / Total Assets 1.67b) |
| C: -0.08 (EBIT TTM -143.5m / Avg Total Assets 1.75b) |
| D: 8.15 (Book Value of Equity 1.49b / Total Liabilities 182.7m) |
| Altman-Z'' = 4.88 = AA |
| DSRI: 0.60 (Receivables 47.8m/70.0m, Revenue 1.23b/1.08b) |
| GMI: 1.14 (GM 41.81% / 36.80%) |
| AQI: 1.04 (AQ_t 0.57 / AQ_t-1 0.55) |
| SGI: 1.14 (Revenue 1.23b / 1.08b) |
| TATA: -0.15 (NI -144.8m - CFO 98.1m) / TA 1.67b) |
| Beneish M = -3.13 (Cap -4..+1) = AA |
As of June 28, 2026, the stock is trading at USD 10.19 with a total of 1,906,198 shares traded. Over the past week, the price has changed by +8.40%, over one month by +15.53%, over three months by +16.86% and over the past year by -12.31%.
Current recommended Stop Loss: 9.50 (which is 6.8% or 1.8 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 | 10.7 | 5.3% |
P/E Forward = 15.2672
P/S = 1.0847
P/B = 0.8974
Revenue TTM = 1.23b USD
EBIT TTM = -143.5m USD
EBITDA TTM = 6.11m USD
Long Term Debt = 15.0m USD (estimated: total debt 20.2m - short term 5.27m)
Short Term Debt = 5.27m USD (from shortTermDebt, last quarter)
Debt = 20.2m USD (from shortLongTermDebtTotal, last quarter) (leases 20.2m already included)
Net Debt = -436.7m USD (calculated: Debt 20.2m - CCE 456.9m)
Enterprise Value = 894.3m USD (1.33b + Debt 20.2m - CCE 456.9m)
Interest Coverage Ratio = -112.6 (Ebit TTM -143.5m / Interest Expense TTM 1.27m)
EV/FCF = 22.46x (Enterprise Value 894.3m / FCF TTM 39.8m)
FCF Yield = 4.45% (FCF TTM 39.8m / Enterprise Value 894.3m)
FCF Margin = 3.24% (FCF TTM 39.8m / Revenue TTM 1.23b)
Net Margin = -11.79% (Net Income TTM -144.8m / Revenue TTM 1.23b)
Gross Margin = 36.80% ((Revenue TTM 1.23b - Cost of Revenue TTM 776.1m) / Revenue TTM)
Gross Margin QoQ = 31.43% (prev 42.77%)
Tobins Q-Ratio = 0.54 (Enterprise Value 894.3m / Total Assets 1.67b)
Interest Expense / Debt = 6.30% (Interest Expense 1.27m / Debt 20.2m)
Taxrate = 21.0% (US federal default 21%)
NOPAT = -113.3m (EBIT -143.5m * (1 - 21.00%)) [loss with tax shield]
Current Ratio = 4.16 (Total Current Assets 689.5m / Total Current Liabilities 165.7m)
Debt / Equity = 0.01 (Debt 20.2m / totalStockholderEquity, last quarter 1.49b)
Debt / EBITDA = -71.51 (Net Debt -436.7m / EBITDA 6.11m)
Debt / FCF = -10.97 (Net Debt -436.7m / FCF TTM 39.8m)
Total Stockholder Equity = 1.51b (last 4 quarters mean from totalStockholderEquity)
RoA = -8.28% (Net Income -144.8m / Total Assets 1.67b)
RoE = -9.59% (Net Income TTM -144.8m / Total Stockholder Equity 1.51b)
RoCE = -9.40% (EBIT -143.5m / Capital Employed (Equity 1.51b + L.T.Debt 15.0m))
RoIC = -7.82% (negative operating profit) (NOPAT -113.3m / Invested Capital 1.45b)
WACC = 11.04% (E(1.33b)/V(1.35b) * Re(11.13%) + D(20.2m)/V(1.35b) * Rd(6.30%) * (1-Tc(0.21)))
Discount Rate = 11.13% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -73.33 | Cagr: -4.35%
[DCF] Terminal Value 66.62% ; FCFF base≈39.8m ; Y1≈40.0m ; Y5≈42.4m
[DCF] Fair Price = 6.45 (EV 452.2m - Net Debt -436.7m = Equity 888.9m / Shares 137.8m; r=11.04% [WACC]; 5y FCF grow 0.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -1.17 | # QB: -1
Revenue Correlation: 98.94 | Revenue CAGR: 18.54% | SUE: 0.91 | # QB: 1
EPS current Quarter (2026-06-30): EPS=0.12 | Chg30d=-15.91% | Revisions=-45% | Analysts=12
EPS next Quarter (2026-09-30): EPS=0.16 | Chg30d=-3.32% | Revisions=-38% | Analysts=11
EPS current Year (2027-03-31): EPS=0.62 | Chg30d=-6.79% | Revisions=+0% | GrowthEPS=+40.5% | GrowthRev=+2.2%
EPS next Year (2028-03-31): EPS=0.92 | Chg30d=+1.87% | Revisions=+33% | GrowthEPS=+48.1% | GrowthRev=+14.4%
[Analyst] Revisions Ratio: -45%