Montréal-based Lightspeed Commerce beat revenue estimates in fiscal Q4 but fell short of earnings expectations as it completed the first year of a transformation plan to streamline its business.
The retail and hospitality tech company posted $290.8 million USD ($400.4 million CAD) in revenue in its last quarter, which ended March 31, 2026. That’s a 15-percent rise compared to the same period last year. However, its adjusted income per share of $0.10 was lower than analyst projections of $0.12.
Thursday’s earnings mark the first full year of a three-year plan that Lightspeed outlined a year ago, following a strategic review.
In line with other software stocks, Lightspeed’s share price has taken a hit this year. The stock is down more than 20 percent on the Toronto Stock Exchange since January, trading at $12.35 CAD before market open this morning.
Lightspeed also posted a net loss of $28.6 million, or $0.20 per share, in its last full quarter. That’s much smaller than last year’s $575.9 million, which was mainly due to a significant goodwill writedown triggered by a weak share price. Lightspeed ended the quarter with $453.9 million in cash and cash equivalents.
In a statement, co-founder and CEO Dax Dasilva called the year’s results a “resounding success,” adding that customer location growth and gross transaction volume among customers grew every quarter during the fiscal year.
Founded in 2005, Lightspeed sells point-of-sale and commerce software and hardware to restaurants, retailers, and hospitality providers. When Dasilva returned as CEO in 2024, he vowed that in fiscal 2025 the company would become “a profitability story” and exceed $1 billion in annual revenue. Lightspeed has hit that mark and has since attempted to strike the right balance between growth and profitability to win back public-market investors as its share price has struggled to regain its 2021 high.
Lightspeed reached $1.23 billion in revenue in fiscal 2026, while posting a net loss of $144.4 million overall.
Thursday’s earnings mark the first full year of a three-year plan that Lightspeed outlined a year ago, following a strategic review. That plan includes a focus on two areas of growth: retail in North America and hospitality in Europe, which now drive three quarters of Lightspeed’s total revenue. In these areas, the company added roughly 3,200 customer locations in fiscal Q4 and grew revenue by 24 percent year over year.
The firm’s plan includes streamlining its portfolio and focusing on these two “growth engines.” Last month, Lightspeed sold a non-core business unit and US hospitality product line, Upserve, to private equity firm Skyview Equity for up to $81 million USD in cash—more than 80 percent less than what it paid for the company in 2020. The transaction will pay Lightspeed $44 million USD up front, with the remaining $37 million subject to earnout over 24 months, based on performance targets.
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The company posted $72.5 million in adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) for the year, and is now forecasting adjusted EBITDA between $75 million and $95 million. The firm also raised guidance for next quarter to between $305 million and $315 million.
This quarter, Lightspeed added longtime technology executive Bhawna Singh as its CTO; Singh previously held the same role at software companies Okta and Glassdoor. John Shapiro, who served as chief product and technology officer, is now chief product officer. Lightspeed also shipped new product updates this quarter, including an integration with wholesale marketplace Faire, an AI-powered Optical Character Recognition tool to more easily scan products, and point-of-sales upgrades.
Feature image courtesy Lightspeed.