Lightspeed Commerce Exceeds Revenue Outlook With 17% Organic Growth
The omnichannel platform reported first quarter revenue of $322.7 million, exceeding its previous outlook
Lightspeed Commerce Inc. (LSPD), the unified omnichannel platform for retail, golf, and hospitality businesses, reported first quarter revenue of $322.7 million for the period ended June 30, 2026. The result exceeded the company's outlook and represented organic revenue growth of 17% year-over-year.
Transaction-based revenue rose to $214.5 million, an organic increase of 20% year-over-year. Subscription revenue reached $95.4 million, which was an organic increase of 8%. The company reported a net loss of $2.4 million for the quarter.
Growth was concentrated in the company's primary engines, consisting of North American retail and European hospitality. In these segments, revenue grew 20% year-over-year and gross transaction volume grew 14%. The company added approximately 1,300 net customer locations within these growth engines during the quarter, bringing the total for those segments to approximately 99,000. Total customer locations for the company ended the quarter at approximately 146,000, following the divestiture of the Upserve U.S. hospitality product line on April 28, 2026.
Average revenue per user increased to approximately $676 from approximately $655 in the same quarter last year. The company attributed this to the adoption of new software modules, the signing of high-GTV customers, and expanding use of its payments offering. Total gross transaction volume was $25.7 billion, representing organic growth of 9% year-over-year.
Lightspeed repurchased and cancelled seven million shares during the quarter, totaling approximately $86 million. The company ended the period with $372.1 million in cash and cash equivalents.
For the full fiscal year 2027, Lightspeed expects revenue between $1,225 million and $1,265 million, which would represent organic revenue growth of 12% to 15%. The company projects gross profit between $565 million and $585 million, representing organic growth of 12% to 16%, and adjusted EBITDA between $75 million and $95 million.