Earnings

Lightspeed Commerce narrows net loss to US$4.2 million

The Tip Desk · November 5, 2026 · 2 min read

The omnichannel platform reported second quarter revenue of US$323.8 million, representing 15% organic growth year-over-year

Lightspeed Commerce Inc. (LSPD), a provider of omnichannel platforms for retail and hospitality businesses, reported a net loss of US$4.2 million, or US$0.03 a share, for the second quarter ended September 30, 2026. This follows a net loss of US$32.7 million, or US$0.24 a share, in the same period the previous year.

Total revenue for the quarter was US$323.8 million, which represented organic growth of 15% year-over-year. As reported, revenue grew 2% compared to the prior-year period. The company noted that the divestiture of Upserve on April 28, 2026, affected year-over-year comparability.

Transaction-based revenue reached US$213.9 million, an organic increase of 17% year-over-year, though it decreased 1% as reported. Subscription revenue was US$97.8 million, growing 9% on an organic basis and 5% as reported. Gross profit for the period was US$142.8 million, representing organic growth of 11%.

Performance was driven largely by the company's designated growth engines in North American retail and European hospitality. In these segments, total revenue grew 17% year-over-year and subscription revenue increased 14%. Gross payment volume (GPV) as a percentage of gross transaction volume (GTV) in these markets reached 50%, up from 46% last year. Customer locations within these growth engines rose 8% year-over-year to approximately 99,000.

Overall GTV for the quarter was US$25.8 billion, up from US$25.3 billion in the same quarter last year. GPV increased to US$11.6 billion from US$10.8 billion, representing organic growth of 19%. GPV as a percentage of GTV was 45% in the quarter, compared to 40% a year ago on an organic basis.

Subscription gross margin improved to 84% from 82% in the same quarter last year. Total ARPU was approximately US$688, compared to US$685 in the prior-year period, with organic ARPU growth of 12%. The company attributed this organic growth to the adoption of new software modules, the payments offering, and the acquisition of higher-GTV customers.

Lightspeed Capital revenue was US$15.0 million, an organic increase of 42%. The company said that increasing its outstanding merchant cash advances by US$26.0 million during the quarter helped drive this Capital revenue growth.

As of September 30, 2026, the company held US$342.9 million in cash and cash equivalents. Subsequent to the quarter, Lightspeed launched agentic capabilities within Lightspeed AI for its retail segment, allowing users to receive recommendations and prepare tasks within their workflows.

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