Lightspeed Announces First Quarter 2026 Financial Results

Core Insights - Lightspeed Commerce Inc. reported total revenue of $304.9 million for the quarter, representing a 15% year-over-year growth and exceeding expectations [1] - The company achieved a gross margin of 42%, with gross profit increasing by 19% year-over-year, also surpassing outlook [1] - The company added approximately 1,700 net Customer Locations in North America and Europe, contributing to a total of around 145,000 Customer Locations, which is a 5% increase year-over-year [1][10] - Gross Payment Volume (GPV) grew by 21% year-over-year, reaching $10.2 billion, with GPV as a percentage of Gross Transaction Volume (GTV) at 41% [1][10] Financial Performance - Total revenue for the quarter was $304.9 million, with transaction-based revenue at $204.6 million (up 18% year-over-year) and subscription revenue at $90.9 million (up 9% year-over-year) [6] - The net loss for the quarter was $49.6 million, or $0.35 per share, compared to a net loss of $35.0 million, or $0.23 per share in the previous year [6] - Adjusted EBITDA for the quarter was $15.9 million, an increase from $10.2 million in the same period last year [6] Operational Highlights - The company launched several new product features, including enhanced inventory tracking and AI-powered insights for hospitality in Europe [6][10] - Average Revenue Per User (ARPU) increased by 16% to approximately $655, driven by software price increases and greater adoption of payment solutions [10] - The company completed a share repurchase program, buying back approximately 9 million shares for about $85.4 million [10] Strategic Outlook - Lightspeed remains focused on expanding its customer base in retail and hospitality sectors, particularly in North America and Europe [8] - The company anticipates revenue for the second quarter of 2026 to be between $305 million and $310 million, reflecting confidence in its growth strategy [9] - Long-term targets include a gross profit CAGR of approximately 15-18% and an Adjusted EBITDA CAGR of approximately 35% over the next three years [9]