NYSE$LSPD
Lightspeed Commerce Inc · Q4 2025 earnings
Q4 2025 earnings · · Before market open · Investor relations
Briefing
Lightspeed reported Q4 2025 results with moderate revenue growth, an improved adjusted EBITDA, and a major net loss driven by a large goodwill impairment.
Q4 revenue grew to $253.4M, while a $556.4M goodwill impairment led to a steep net loss. Despite this, adjusted EPS and EBITDA improved YoY, and ARPU increased driven by unified POS and payments adoption.
- Reported revenue reached $253.4M, up 10% YoY.
- Net loss widened to $575.9M due to a $556.4M non-cash goodwill impairment.
- Adjusted EPS rose to $0.10 from $0.06 in the prior year.
- ARPU climbed 13% to ~$489, driven by unified POS and payments platform.
Headline financials
Revenue & EPS history
Lightspeed · Revenue · Quarterly
$253M
Revenue by segment
Lightspeed · $303M total across 2 segments · Q3 2026
- Transaction-based$209M+15.2%69.1%
- Subscription$93.7M+6.3%30.9%
Forward guidance
Lightspeed expects Q1 2026 revenue between $285M–$290M, with continued improvement in gross profit and adjusted EBITDA margins. FY26 is guided for 10–12% revenue growth.
Tailwinds
- Q1 2026 revenue expected to reach up to $290M
- Adjusted EBITDA guided between $14M and $16M for Q1
- FY26 revenue growth forecasted at 10–12%
- Increased investment in product and tech by 35%
- Planned growth of outbound sales team to over 150 reps
Headwinds
- Goodwill impairment reflects broader tech valuation volatility
- Customer Location count flat to slightly down YoY under new definition
- Adjusted Free Cash Flow remained negative at -$9.3M
- Ongoing macroeconomic uncertainty may impact outlook
- Dependency on success in North America and Europe verticals
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q4 2025
-2.3%
Avg return
Earnings day
-1.4%
Avg return
5 days after
-0.4%
Avg return
30 days after
40%
10 / 25 earnings
Positive
+22.5%
Q4 2021
Best reaction
-28.1%
Q3 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q4 2026 | -6.9% | -1.8% | +4.7% | |
| Q3 2026 | -7.8% | -8.4% | -5.2% | |
| Q2 2026 | +16.0% | +13.5% | +0.0% | |
| Q1 2026 | -5.4% | -5.4% | -5.9% | |
| Q4 2025 | -8.3% | +0.9% | +1.1% | |
| Q3 2025 | -9.5% | -9.4% | -21.3% | |
| Q2 2025 | +8.3% | +16.8% | +9.8% | |
| Q3 2024 | -28.1% | -31.4% | -30.7% | |
| Q2 2024 | +19.9% | +22.3% | +36.3% | |
| Q1 2024 | +9.8% | +4.4% | +0.9% | |
| Q4 2023 | -10.4% | -9.8% | +10.0% | |
| Q3 2023 | -11.4% | -4.8% | -16.5% | |
| Q2 2023 | -16.4% | -15.7% | -3.9% | |
| Q1 2023 | -10.9% | -10.5% | -27.5% | |
| Q4 2022 | +13.9% | +6.5% | +5.0% | |
| Q3 2022 | -10.9% | -10.6% | -35.1% | |
| Q2 2022 | -26.2% | -28.0% | -55.2% | |
| Q1 2022 | +9.0% | +4.5% | +34.5% | |
| Q4 2021 | +22.5% | +26.7% | +39.2% | |
| Q3 2021 | -3.1% | -2.6% | -21.8% | |
| Q2 2021 | +14.3% | +13.1% | +74.3% | |
| Q1 2021 | -0.3% | — | — | |
| Q4 2019 | -17.5% | — | — | |
| Q3 2019 | +0.7% | — | — | |
| Q2 2019 | +0.1% | — | — | |
| Q1 2019 | — | — | — | |
| Q4 2018 | — | — | — | |
| Q3 2018 | — | — | — | |
| Q2 2018 | — | — | — | |
| Q1 2018 | — | — | — | |
| Q4 2017 | — | — | — | |
| Q3 2017 | — | — | — |
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