
π’ Company Overview
Lightspeed Commerce Inc. (TSX: LSPD) is a Montreal-based SaaS company that powers commerce solutions for thousands of small and medium-sized businesses around the world. Through its cloud-based platform, Lightspeed offers a suite of tools enabling merchants to manage point-of-sale operations, payments, inventory, and customer engagement in a single environment.
The platform supports retail, hospitality, and restaurant businesses with omnichannel functionality and advanced analytics. While the company has a strong footprint in North America, itβs also expanding across Europe and Australia. As of 2025, Lightspeed serves over 150,000 customer locations and is leaning heavily into AI-enhanced commerce automation.

π° What If You Bought In Early?
Once a high-flying tech darling, Lightspeed’s stock is down more than 57% over the past five years. However, savvy investors might now see opportunity in the rubble. With a market cap of just $1.46B, LSPD could be ripe for a comeback. Those who believe in turnaround tech plays may find its current valuation attractive, especially with improving fundamentals and margin efficiency on the horizon.
π Stock Performance Overview
Metric | Value |
---|---|
π΅ Price | $14.65 |
πΉ 52-Week Range | $10.50 β $26.60 |
πΌ Market Cap | $1.46B USD |
π YTD Return | -33.2% |
βοΈ Beta | 1.19 |
π Forward P/E | 20.6 |
π§Ύ Net Cash/Share | $4.84 |
Despite volatility, Lightspeed is trading well above its 52-week low, and the business maintains strong liquidity and a debt-free balance sheet.
π Analyst Forecasts & Sentiment
While no official target price is available, estimates point to EPS growth of 29% next year and revenue growth of 13.4% YoY. Analysts tracking the company project FY26 EPS at $0.71, reflecting expanding margins and a shift toward profitability.
- EPS FY25 Estimate: $0.55
- EPS FY26 Estimate: $0.71
- Revenue FY25 Estimate: $1.19B
- Revenue FY26 Estimate: $1.35B
Earnings trends are improving, with a 22.3% EPS jump forecasted this year β not bad for a former high-burn SaaS name.

π Valuation Metrics
Metric | LSPD Value |
---|---|
Price / Sales | 1.5 |
Price / Book | 0.9 |
EV / EBITDA | -1.6 |
Forward P/E | 20.6 |
Lightspeed is trading below book value, a rare case for a tech growth stock. This could reflect pessimism β or it may signal deep value for long-term believers.
π§ Final Thoughts & π Key Takeaways
Lightspeed Commerce (TSX: LSPD) might be far from its former glory, but beneath the volatility lies a leaner, more focused tech player making real strides toward sustainable profitability.
π Why Investors Might Consider It:
- Improved EPS trajectory (+29% expected in FY26)
- 13.4% forecasted revenue growth next year
- Net cash positive with no long-term debt
- Now trading below book value β deep value potential
β οΈ Risks to Monitor:
- No dividend, still burning cash on some metrics
- High short interest and weak price momentum
- Past M&A integration issues and churn
Bottom Line:
For early birds willing to take on calculated risk, Lightspeed Commerce could be a comeback story in the making. Its pivot to disciplined growth, strong financial positioning, and low valuation offer a rare mix of upside in the beaten-down Canadian tech landscape.