Shares of Lightspeed POS Inc (NYSE: LSPD) plunged 5.11% in pre-market trading on Thursday following the release of its fourth-quarter and full-year 2025 financial results. The company's earnings miss and a substantial goodwill impairment charge appear to have dampened investor enthusiasm despite revenue growth.

Lightspeed reported adjusted earnings per share of $0.10 for the quarter, falling short of the analyst consensus estimate of $0.11. While this represents a 66.67% increase from the same period last year, the earnings miss likely contributed to the stock's decline. Revenue for the quarter came in at $253.42 million, slightly below the estimated $253.86 million but still showing a 10.08% year-over-year growth.

The most significant factor weighing on investor sentiment appears to be a non-cash goodwill impairment charge of $556.4 million recorded in the fourth quarter. This substantial write-down suggests a reassessment of the value of Lightspeed's past acquisitions and may have raised concerns about the company's growth strategy and future profitability.

Despite the challenges, Lightspeed provided guidance for the first quarter of fiscal 2026, projecting revenue between $285 million and $290 million, and adjusted EBITDA of $14 million to $16 million. For the full fiscal year 2026, the company expects revenue growth of approximately 10% to 12% and adjusted EBITDA of $68 million to $72 million. While these projections show continued growth, they may not have been sufficient to offset the negative impact of the earnings miss and goodwill impairment.