Montréal-based Lightspeed Commerce is raising its yearly outlook for a second straight quarter after posting revenue of $312.3 million USD, slightly beating its internal forecasts.
The e-commerce and point-of-sales firm announced its fiscal Q3 earnings before the markets opened today. During a traditionally busy quarter for retailers, Lightspeed’s revenue and profitability numbers met internal forecasts and investor expectations.
While its revenue grew 11 percent year-over-year, Lightspeed also saw a net loss of $33.6 million, which was wider compared to the $26.6 million it lost during the same period last year. The firm finished the quarter with $479 million in cash and equivalents.
Lightspeed’s gross profit margins grew by 15 percent year-over-year, and its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) hit $20.2 million for the quarter, up from $16.6 million last year. Growing profitability metrics while driving growth is part 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. In these areas, gross transaction volume grew by 16 percent year-over-year, and the company added 2,600 new customer locations.
Based on these results, the firm is upgrading its yearly outlook for the second quarter in a row. It now expects $4 million more in annual revenue—up to $1.22 billion—and $2 million more in gross profit.
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This past quarter, the company launched Lightspeed AI, a conversational AI feature, to its management software that allows retailers and managers to query and get answers and insights based on transaction data. In a statement, Lightspeed CEO Dax Dasilva said the delivery of this feature, along with additions to its wholesale marketplace and go-to-market, is “driving momentum across our growth engines.”
Lightspeed also appointed Gabriel Benavides as its chief revenue officer. The current quarter, ending March 31, 2026, is the final one for Lightspeed’s president JD Saint-Martin, who announced in November he would step down from the firm to join Montréal venture capital firm Boreal Ventures.
Founded in 2005, Lightspeed sells point-of-sale and commerce software and hardware to restaurants, retailers, and hospitality providers. The company is dual-listed on the Toronto Stock Exchange and the New York Stock Exchange under the symbol ‘LSPD.’ The firm reached $1 billion in revenue in 2025, but its share price has struggled to regain its 2021 high. Its market capitalization is roughly $1.9 billion CAD.
When Dasilva returned as CEO in 2024, he vowed that fiscal 2025 would be the year the company becomes “a profitability story” and exceeds $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.
Feature image courtesy Lightspeed Commerce.