Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data Lightspeed Commerce Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
121
222
548
731
909
1,077
Cost of revenue
39.7
94.1
277
399
524
627
Gross profit
81
128
271
332
385
450
Research and development
32.8
55.3
121
140
129
120
Operating income
-58.4
-130
-318
-1,099
-203
-696
Pre-tax income
-56.6
-130
-315
-1,074
-160
-660
Income tax
-3.11
-5.79
-26.9
-4.22
3.48
7.69
Net income
-53.5
-124
-288
-1,070
-164
-667
EPS, basic
-0.62
-1.18
-2.04
-7.11
-1.07
-4.34
EPS, diluted
-0.62
-1.18
-2.04
-7.11
-1.07
-4.34
Balance sheet
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
211
807
954
800
722
558
Receivables
10.9
24.8
45.8
54.8
62.3
53.1
Inventory
0.93
1.57
7.54
12.8
16.5
14.6
Total current assets
233
858
1,042
934
918
798
Property, plant and equipment
7.99
8.34
16.5
19.5
20.5
17.1
Lease right-of-use assets
16
21.2
25.5
21
17.1
12.7
Goodwill
147
972
2,104
1,351
1,349
798
Intangible assets
62.8
234
410
311
227
160
Total assets
478
2,105
3,620
2,669
2,575
1,826
Accounts payable
30.8
65.1
78.3
68.8
68.7
73.1
Total current liabilities
70.8
113
158
150
145
149
Lease liabilities
13.5
20.6
23
18.6
16.3
11.3
Total liabilities
134
171
221
171
163
162
Retained earnings
-513
-638
-926
-1,996
-2,160
-2,687
Total equity
344
1,934
3,399
2,497
2,412
1,664
Total liabilities and equity
478
2,105
3,620
2,669
2,575
1,826
Cash flow statement
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
-53.5
-124
-288
-1,070
-164
-667
Cash from operations
-28.6
-93.1
-87.2
-125
-97.7
-32.8
Capital expenditures
-3.61
-1.79
-10.7
-9.23
-7.51
-3.78
Cash from investing
-120
-235
-564
8.82
26
8.04
Debt issued
30
0
Stock issued
131
953
824
0
Share buybacks
0
-132
Cash from financing
154
922
798
-35.4
-6.23
-139
Exchange rate effect
-1.42
1.98
-0.4
-1.62
-0.11
-0.24
Net change in cash
3.27
596
147
-154
-78.1
-164
Free cash flow
-32.2
-94.9
-97.9
-135
-105
-36.5
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $9.87 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
41.8%
Gross profit / revenue.
Operating margin
-64.6%
Operating income / revenue.
Pre-tax margin
-61.2%
Pre-tax income / revenue.
Net margin
-62.0%
Net income / revenue.
FCF margin
-3.4%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-3.0%
Cash from operations / revenue.
Return on assets (ROA)
-30.3%
Net income / average total assets.
R&D / revenue
11.2%
Research and development expense / revenue.
Capex / revenue
0.4%
Capital expenditures / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
18.4%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
25.2%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
54.9%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y
16.9%
Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y
18.4%
Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y
40.9%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y
-29.1%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
-20.4%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
30.7%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
5.36x
Current assets / current liabilities.
Quick ratio
4.10x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
3.75x
(Cash + short-term investments) / current liabilities.
Liabilities / assets
8.9%
Total liabilities / total assets.
Working capital
$649.0M
Current assets - current liabilities.
Goodwill and intangibles / assets
52.4%
(Goodwill + intangible assets) / total assets.
Efficiency
Metric
Value
How it is calculated
Asset turnover
0.49x
Revenue / average total assets.
Fixed asset turnover
57.3x
Revenue / average property, plant and equipment.
Inventory turnover
40.3x
Cost of revenue / average inventory.
Days inventory
9 days
365 x average inventory / cost of revenue.
Receivables turnover
18.7x
Revenue / average receivables.
Days sales outstanding
20 days
365 x average receivables / revenue.
Days payables
41 days
365 x average accounts payable / cost of revenue.
Cash conversion cycle
-13 days
Days inventory + days sales outstanding - days payables.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$4.34
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic
-$4.34
Net income per basic share, as reported (split-adjusted).
Valuation
Metric
Value
How it is calculated
Market cap
$1.32B
Share price x shares outstanding.
Enterprise value
$757.3M
Market cap + total debt - cash - short-term investments.
P/S
1.22x
Market cap / revenue.
EV/Sales
0.70x
Enterprise value / revenue.
FCF yield
-2.8%
Free cash flow / market cap.
Earnings yield
-50.7%
Net income / market cap (the inverse of P/E).
Shareholder yield
10.1%
(Dividends paid + share buybacks) / market cap.
What was Lightspeed Commerce Inc.'s revenue in fiscal 2025?
Lightspeed Commerce Inc. reported revenue of $1.08B for fiscal 2025, 18.4% higher than the year before.
Was Lightspeed Commerce Inc. profitable in fiscal 2025?
No. It reported a net loss of $667.2M.
How much free cash flow did Lightspeed Commerce Inc. generate in fiscal 2025?
Cash from operations of $32.8M minus capital expenditures of $3.8M left free cash flow of -$36.5M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.