- 1More than $107M of MCAs sit on Lightspeed's balance sheet; none are sold to third parties.
- 2MCA revenue grew 32% year over year; average payback shortened to seven months.
- 3The MCA business expanded to Switzerland in the quarter.
Lightspeed Commerce, the point-of-sale and e-commerce software company, says its merchant cash advance product is performing well. More than $107 million of MCAs currently sit on its balance sheet, and the company does not sell the receivables to third parties.
On its fiscal Q2 2026 earnings call, President JD Saint-Martin said Lightspeed Capital is being used to upsell and cross-sell across the merchant base and the rest of its world portfolio, calling it one of the products that is very popular as an upsell.
Growth and efficiency
- Outside a possible stock buyback, the company's largest use of cash going forward will be growing its MCA business.
- Experience with the product has made underwriting more efficient, and the average payback period has come down to seven months.
- MCA revenue rose 32% year over year.
- The MCA business expanded to Switzerland during the quarter.
Source reporting: deBanked.
