Lightspeed Announces Second Quarter 2026 Financial Results and Raises Outlook for Fiscal 2026

Executive Summary

• Lightspeed Commerce reported Q2 FY 2026 revenue of $319.0 M, up 15% YoY and above its prior outlook.
• Gross profit margin improved to 42%; Adjusted EBITDA rose to $21.3 M (up from $14.0 M) and Adjusted Free Cash Flow increased to $18.0 M.
• The company raised its full‑year FY 2026 guidance for revenue, gross profit and Adjusted EBITDA, reaffirming its multi‑year growth targets.

Key Details

• Revenue: $319.0 M (15% YoY increase) – transaction revenue $215.8 M (+17%), subscription revenue $93.5 M (+9%).
• Gross Profit: $135.2 M, margin 42% (up from 41% prior year). Subscription gross margin 82%; transaction‑based margin 30%.
• Adjusted EBITDA: $21.3 M vs. $14.0 M a year earlier.
• Adjusted Free Cash Flow: $18.0 M vs. $1.6 M a year earlier; operating cash flow $25.5 M.
• Net Loss: ($32.7) M, or $(0.24) per share (worse than prior‑year loss of $(29.7) M). Adjusted Income $22.2 M, $0.16 per share.
• Cash Position: $462.5 M cash & equivalents at quarter end.
• Customer Metrics: ~2,000 net Customer Locations added; total ≈146,000 locations (≈7% YoY). ARPU rose 15% to ~$685. GTV $25.3 B (+7% YoY); GPV $10.8 B (+22%).
• Product Launches: AI Showroom, AI‑driven web builder GA, AI product descriptions, NuORDER Marketplace, Hospitality Integration Hub (200+ apps), Benchmarks & Trends visual layers, Timed Menus, Google Sync, Lightspeed Capital (Switzerland), Instant/Same‑Day Payouts (Australia), Business Intelligence for Golf.
• Notable Wins: New retail customers (Crock a Doodle, Benson’s Pet Center, Texas Big Bend National Park); expanded NuORDER brands (Carhartt, Steve Madden) and partnership with Nordstrom; golf club On Top of the World Communities; European hospitality clients Hirschen (2‑star), Beckford Group, Da Giovanni.
• Board Appointments: Sameer Samat (President, Android Ecosystem, Google) and Odilon Almeida (former CEO, ACI Worldwide) effective 2025‑10‑01.
• Sustainability Report: 2 M+ trees planted; expanded family‑building benefits; ranked among Canada’s Most Responsible Companies.
• Financial Outlook (raised):
• Q3 FY 2026 revenue $309–$312 M; gross profit growth ≥15% YoY; Adjusted EBITDA $18–$20 M.
• FY 2026 revenue growth ≥12% YoY; gross profit growth ≥15% YoY; Adjusted EBITDA ≥$70 M.
• Conference Call: Thursday, Nov 6 2025 at 8:00 am ET (webcast/teleconference details provided).

Notable Quotes

• “Lightspeed's second consecutive quarter of outperformance demonstrates that our transformation is delivering as planned,” – Dax Dasilva, Founder & CEO.
• “Our renewed strategic focus is allowing us to scale at an accelerated pace and the significant growth in Adjusted Free Cash Flow…demonstrates our ability to invest for growth while continuing to strengthen profitability.” – Asha Bakshani, CFO.