Lightspeed Commerce (TSX:LSPD) Research & Development: C$174 Mil (TTM As of Mar. 2026)


TSX:LSPD Lightspeed Commerce Inc TSX:LSPD
69 GF Score
Price C$14.43
GF Value C$28.40
Valuation Significantly Undervalued
! 1 Warning Sign
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What is Lightspeed Commerce Research & Development?

Lightspeed Commerce TSX:LSPD +6.42% 69 Research & Development is C$174 Mil as of Mar. 2026. GuruFocus rates TSX:LSPD with a GF Score™ of 69/100 and a GF Value™ of C$28.40 (Significantly Undervalued). The stock has 1 warning sign investors should review.

Research & Development is the aggregate amount of research and development expenses during the year. Lightspeed Commerce's Research & Development for the three months ended in Mar. 2026 was C$38 Mil. Its Research & Development for the trailing twelve months (TTM) ended in Mar. 2026 was C$174 Mil.

Lightspeed Commerce  (TSX:LSPD) Research & Development Explanation

If competitive advantage is created by a patent or tech advantage, at some point it will disappear.

High R&D usually dictates high SG&A which threatens the competitive advantage.

Lightspeed Commerce Research & Development Related Terms

Lightspeed Commerce Research & Development Historical Data

* Premium members only.

The historical data trend for Lightspeed Commerce's Research & Development can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Lightspeed Commerce Research & Development Chart

Lightspeed Commerce Annual Data
Trend Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24 Mar25 Mar26
Research & Development
Get a 7-Day Free Trial Premium Member Only Premium Member Only 153.38 192.17 175.18 172.75 173.33

Lightspeed Commerce Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
Research & Development Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 43.35 44.32 45.23 45.78 38.45
TSX:LSPD
69GF Score
Lightspeed Commerce Inc TSX:LSPD
Research & Development is just one metric. See GF Score™, valuation, warning signs, and more.
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Lightspeed Commerce Research & Development Calculation

This is the expense the company spent on research and development.

Research & Development for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was C$174 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Research & Development →
What does a Research & Development of C$174 Mil mean?
Lightspeed Commerce (TSX:LSPD) has a Research & Development of C$174 Mil as of Mar. 2026. Research and development expense is the total cost for research and development activities. View historical data on Lightspeed Commerce and its competitors.
Is Lightspeed Commerce's Research & Development too high?
Lightspeed Commerce's current Research & Development is C$174 Mil. Overall, Lightspeed Commerce has a GF Score™ of 69/100 and is considered Significantly Undervalued, reflecting its overall financial health beyond just this single metric.
How does Lightspeed Commerce's Research & Development compare to CRM and SHOP?
Lightspeed Commerce's Research & Development of C$174 Mil can be compared against companies in the Software industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Research & Development for a Software company?
A good Research & Development depends on the Software industry context. However, Research & Development should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Research & Development mean?
A high Research & Development can signal that a stock is expensive relative to its fundamentals. Research and development expense is the total cost for research and development activities. View historical data on Lightspeed Commerce and its competitors. Lightspeed Commerce's current Research & Development is C$174 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Lightspeed Commerce stock overvalued right now?
Based on GuruFocus' analysis, Lightspeed Commerce (TSX:LSPD) is currently considered Significantly Undervalued. The stock's GF Value™ is C$28.40, compared to a current price of C$14.43 — trading 49.2% below its estimated fair value. The current Research & Development is C$174 Mil. Lightspeed Commerce's overall GF Score™ is 69/100 with 1 warning sign to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Research & Development calculated?
Research & Development is calculated from a company's financial statements. For Lightspeed Commerce (TSX:LSPD), the current Research & Development is C$174 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Lightspeed Commerce (TSX:LSPD) Overvalued in 2026?

Based on GuruFocus' analysis, Lightspeed Commerce stock appears to be undervalued. The current stock price of C$14.43 is trading 49.2% below its estimated GF Value™ of C$28.40. GuruFocus considers Lightspeed Commerce to be Significantly Undervalued.

Key valuation signals for TSX:LSPD:

  • Research & Development: C$174 Mil
  • GF Value™: C$28.40 vs. price of C$14.43 (49.2% below fair value)
  • GF Score™: 69/100 with 1 warning sign

No single metric tells the full story. See the TSX:LSPD stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Lightspeed Commerce Business Description

Other Exchanges LSPD:USA3L50:Germany
Address 700 Saint-Antoine Street East, Suite 300, Montreal, QC, CAN, H2Y 1A6
Lightspeed Commerce Inc is a one-stop commerce platform providing its customers with the critical functionalities needed to engage with consumers, manage their operations, order their inventory, accept payments, and run their business. It has customers globally in over 100 countries, empowering single- and multi-location small and medium-sized businesses to compete in an omni-channel market environment by engaging with consumers across online, mobile, social, and physical channels. Its products are divided into retail, restaurant, and golf categories. Geographically, it operates in Canada, the United States, the United Kingdom, Switzerland, Germany, and Others with the majority of revenue deriving from Canada.
69GF Score

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Research & Development is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

C$14.43
Price
C$28.40
GF Value