Lightspeed Commerce Inc. (LSPD)

NYSE: LSPD · Services-Prepackaged Software · Montreal, CA · filing with the SEC since 2020

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Grade4.7

◀ Past 6.1● Present 5.4▶ Future 3.2

2 est.

Overview Business Financials Grade Forecast Sentiment Ownership People Filings Patents Chart

The grade of Lightspeed Commerce Inc.

Nine metrics read from its own filings, by tense

Headline grade

4.7/10

◀ Past6.125% of the headline

● Present5.435% of the headline

▶ Future3.240% of the headline

All three tenses have at least two readings, so the archetype blend applies as printed.

Of the nine metrics, 7 read as filed from the record and 2 are SI estimates, each with its reasoning, its confidence and what would change it on its card.

◀ Past

What did they actually do?

6.1/1025% of the headline grade · 2 of 3 filed, 1 estimated

Surviving crises

as filed

7.3/10

Has it survived what it has been through?

No warning events in its filings since 2020.

weight 22% of this tense · 73rd percentile among 230 sector filers · read for itself

From the record

Lightspeed Commerce Inc.'s filings since 2020 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Track record

as filed

6.3/10

What has it actually done, year after year?

+54.9% a year over 6 filed years; profitable in 0 of 6.

weight 45% of this tense · 63rd percentile among 213 sector filers · read for its customers

From the record

Lightspeed Commerce Inc.'s 6 filed years say what it did: revenue went from $121 million in fiscal 2020 to $1.1 billion in fiscal 2025, up 54.9% a year; it rose in 5 of 5 years; it never fell from a peak; net income was positive in 0 of 6 of those years (its annual reports).

What it rests on

revenue growth over the filed span54.9%top 11% of its family
the share of years revenue rosetop 27% of its family
the share of filed years with a profitbottom 17% of its family
the deepest fall from a revenue peak0.0%top 27% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Shareholder treatment

SI estimate

4.9/10

How has it treated the people who own it?

SI estimate 4.9/10, confidence 35 of 100 (one part).

weight 33% of this tense · 49th percentile among 216 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: Read from one part only, the share count over the years, which ranks in the bottom 49% of 216 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
What the record cannot read: Fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income.
How it was reasoned: one part: the share count over the years, the one part on file, ranked among 216 in its family.
Confidence: 35 of 100
What would change it: A filing that carries the missing parts replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Lightspeed Commerce Inc.'s shareholder treatment is put at 4.9 of 10 with a confidence of 35 of 100, because read from one part only, the share count over the years, which ranks in the bottom 49% of 216 in its family; fewer than two of the parts can be read: the share count over the years, and the cash returned against a positive operating cash flow or net income. A filing that carries the missing parts replaces this estimate with the filed reading.

● Present

What are they doing right now?

5.4/1035% of the headline grade · 2 of 3 filed, 1 estimated

Financial health

as filed

5.5/10

Is it financially healthy right now?

ROE -40%: lost 40¢ per shareholder dollar. Leverage 9%: owes 9¢ per asset dollar.

weight 45% of this tense · 55th percentile among 217 sector filers · read for itself

From the record

Return on equity: in the fiscal year ended 2025-03-31, Lightspeed Commerce Inc. lost about 40 cents for every dollar of shareholders' money, and gross profitability: its products earned about 25 cents per dollar of everything the company owns. Leverage: it owed about 9 cents per dollar of assets, and net share issuance: its share count shrank 0.1% over the year (the filed statements).

What it rests on

what it owes per dollar of assetstop 3% of its family
return on equitybottom 22% of its family
gross profit against assetsbottom 28% of its family
the share count against the year beforetop 25% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Industry position

as filed

5.6/10

How strong is its position in its industry?

top 44% of 218 in its family; net margin -62%.

weight 33% of this tense · 56th percentile among 218 sector filers · read for its customers

From the record

Lightspeed Commerce Inc.'s standing among 218 graded names in its industry family: revenue of $1.1 billion in fiscal 2025 ranks in the top 28% by size; a net margin of -62% ranks in the bottom 18%; revenue growth of 25.2% a year over the last 3 filed years ranks in the top 22% (its annual reports).

What it rests on

revenue against the family$1.08Btop 28% of its family
net margin-62.0%bottom 18% of its family
three-year revenue growth25.2%top 22% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Leadership

SI estimate

4.8/10

What are the people in charge doing?

SI estimate 4.8/10, confidence 20 of 100 (family median).

weight 22% of this tense · 50th percentile among 157 sector filers · read for its shareholders

SI estimate Inferred, not read as filed

Why it is an estimate: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read, so the desk assumes the typical reading of its industry family, the median of 157 members with one.
What the record cannot read: It files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read.
How it was reasoned: family median, 157 readings behind it.
Confidence: 20 of 100
What would change it: Its next annual report on file with the inputs replaces this estimate with the filed reading.

From the record

SI estimate, not a filed reading: Lightspeed Commerce Inc.'s leadership is put at 4.8 of 10 with a confidence of 20 of 100, because it files no Form 8-K (a foreign issuer reports on Form 6-K), so officer and director changes cannot be read there; no officer or director has filed a Form 3, 4 or 5 for it in the last fifteen months, so the years in charge cannot be read, so the desk assumes the typical reading of its industry family, the median of 157 members with one. Its next annual report on file with the inputs replaces this estimate with the filed reading.

▶ Future

What are they set up to do next?

3.2/1040% of the headline grade · 3 of 3 filed

Room to expand

as filed

3.5/10

How much room does it have to grow?

bottom 35% of 216 in its family for room to expand.

weight 22% of this tense · 35th percentile among 216 sector filers · read for itself

From the record

Lightspeed Commerce Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $558 million against no long-term debt tagged leaves 30.6% of its assets as net cash, top 23% of its family; cash from operations less capital spending is -3.4% of revenue (bottom 28%); a gross margin of 41.8% (bottom 17%); research spending of 11.2% of revenue (bottom 19%) (its annual report).

What it rests on

cash less debt against assets30.6%top 23% of its family
cash from operations less capital spending against revenue-3.4%bottom 28% of its family
gross margin41.8%bottom 17% of its family
research spending against revenue11.2%bottom 19% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Growth drivers

as filed

3.0/10

What could actually drive growth from here?

bottom 30% of 213 in its family for growth drivers.

weight 45% of this tense · 30th percentile among 213 sector filers · read for its customers

From the record

Lightspeed Commerce Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 25.2% a year over the last three filed years against 54.9% over all 6, slowing (bottom 8% of its family); the newest year grew 18.4% (top 34%); research spending grew -0.2% a year (bottom 30%); capital spending grew -29.2% a year (bottom 16%) (its annual reports). Lightspeed Commerce Inc. tags no split of its revenue by line in the annual report on file, so growth by line cannot be read here; research and capital spending are on the trend.

What it rests on

three-year growth against the whole span-29.7 points a yearbottom 8% of its family
the newest year's revenue growth18.4%top 34% of its family
three-year growth of research spending-0.2%bottom 30% of its family
three-year growth of capital spending-29.2%bottom 16% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

Expectations vs reality

as filed

3.2/10

Did its newest year beat what its own record pointed to?

bottom 32% of 194 in its family for expectations against reality.

weight 33% of this tense · 32nd percentile among 194 sector filers · read for its shareholders

From the record

Lightspeed Commerce Inc.'s newest year against its own record: revenue of $1.1 billion in fiscal 2025 came in 8% below the $1.2 billion its prior three years' pace pointed to (bottom 20% of its family); net income of $667 million against a prior three-year average of $507 million (bottom 20%); a net margin of -62% against -72.4% before (top 45%) (its annual reports).

What it rests on

revenue against the prior three years' pace-8.0%bottom 20% of its family
net income against the prior three years' average-32%bottom 20% of its family
net margin against its prior average+10.4 pointstop 45% of its family

A production reading, recomputed from the filings on every data build, read from EDGAR Nov 13, 2026.

The grade is the company against its own industry, from its filings. It is not a view on the share price. How the grade is made

SI Assistanton LSPD · research, not advice