Is LastPass profitable in 2026?

LastPass does not disclose financials. Third-party estimates put annual revenue between $90.5M and $200M as of July 2026, but no profit figures are public. It is privately held under Francisco Partners and Elliott Management, so profitability cannot be independently confirmed.

LastPass is owned by private equity firms Francisco Partners and Elliott Management (via Evergreen Coast Capital), the same sponsors that took parent company GoTo private in a $4.3B 2020 buyout. LastPass fully spun out as an independent company on May 3, 2024.

Has LastPass been breached again after 2022?

Yes. On June 24, 2026, LastPass confirmed attackers used stolen OAuth tokens from vendor Klue to access its Salesforce CRM, exposing customer names, emails and support-case data, part of a broader supply-chain campaign also hitting Recorded Future and Jamf.

Is LastPass safe to use in 2026?

LastPass holds ISO 27001, SOC2 and ISO 27701 certifications and uses 600,000 PBKDF2-SHA256 iterations, but it suffered a 2022 vault-theft breach and a June 2026 Salesforce/Klue supply-chain breach, plus a £1.228M UK ICO fine in December 2025, raising ongoing trust concerns.

Who is LastPass's biggest competitor?

Google Password Manager (~32% US consumer share) and Apple iCloud Keychain (~23%) dominate via free OS-native distribution as of March 2026, while 1Password, Bitwarden and Keeper compete directly for enterprise and paid consumer users.

Could AI or passkeys replace LastPass?

Passkeys are extending rather than replacing vault-based managers as of mid-2026, per industry reporting, but LastPass launched 'Secure Access Essentials' in April 2026 to track shadow-AI credential use, following rather than leading 1Password's May 2026 AI-agent credential framework.

Cybersecurity companies · United States

LastPass

lastpass.com ↗

LastPass sells password and credential vaults to consumers and businesses.

Protection under test

Assessed 21 July 2026 · Evidence as of 21 July 2026

Something worth protecting exists and is being tested right now.

On the recordSince 21 July 2026 · Checkable from Q4 2026 · Every call on the record Checkpoint: Enterprise renewal cycle and net retention numbers after the June 2026 Salesforce breach disclosure

The call

LastPass keeps its enterprise base through switching costs while its consumer base erodes to free OS tools and its security reputation absorbs a second breach.

LastPass stores and manages passwords for about 100,000 business customers and millions of consumers. It is getting harder to defend because Google, Apple, and Microsoft now offer free password managers built into their phones and computers, and two security breaches in recent years have damaged LastPass's reputation as a trustworthy vault. The company is shrinking its staff and has no clear growth path, though it is trying to add artificial intelligence features to manage passwords for AI agents, a move that 1Password and others are also making. What could change the picture is if LastPass can prove that large businesses will stay loyal and pay for its special enterprise tools, or if the next generation of AI credential management becomes too complex for the free built-in managers to handle and LastPass gets there first.

Why

AI pressure: None apparent. AI agents are creating a new credential problem, not eating LastPass directly, but rivals are branding solutions faster. Could AI do the core job? Only partly.

Bigger players: Google, Apple, and Microsoft (free OS-native password and passkey managers). Google and Apple now hold about 55% of US consumer password-manager share combined, pushing LastPass to roughly 11% and squeezing its free-tier funnel. Could a giant copy it? Yes, easily.

What protects it. 100,000+ business customers locked in via Admin Console, SSO, and compliance certifications that are costly to rip out.

What would change this call

LastPass headcount trend in H2 2026 vs 709 (July 2026). Further decline would show shrinking business, not just efficiency.
Enterprise net retention/churn reported for Q3-Q4 2026 renewal cycle. Reveals whether June 2026 breach is costing them business customers.
Any third breach, new regulatory fine, or expanded legal settlement. Would show the security trust seal, its core asset, is still failing.

Key numbers

Headcount down 14.4% YoY to 709 (Jul 2026)
Google Password Manager holds ~32% share vs LastPass ~11% (Mar 2026)
$24.5M US settlement plus £1.228M UK fine over 2022 breach (Feb 2026)

Named risks

Repeated breaches (2022 vault theft, June 2026 Klue/Salesforce attack) undermining core trust asset. Severity: high
Consumer base erosion from free OS-native password/passkey managers from Google, Apple, Microsoft. Severity: high
Headcount decline of 14.4% YoY signaling PE-driven cost cuts with no stated growth investment. Severity: medium
Legal and regulatory costs from ICO fine and $24.5M US settlement tied to 2022 breach. Severity: medium
Enterprise AI-agent credential positioning contested by 1Password and category-wide OAuth 2.1/MCP standards. Severity: medium

Rivals, as read in July 2026

Rival	Direction	Evidence
Google	gaining on	Google Password Manager holds ~32% US consumer share vs LastPass, as of March 2026
Apple	gaining on	iCloud Keychain holds ~23% US consumer share via free OS bundling, March 2026
Microsoft	gaining on	Microsoft defaults new consumer accounts to passkeys, encroaching on vault market, 2026
1Password	contesting	Published AI-agent credential-management framework May 7, 2026, ahead of LastPass's April 2026 move
Bitwarden	contesting	Rolling out Windows 11 passkey login features competing directly in enterprise tier, 2026
Keeper Security	contesting	Rolling out quantum-resistant crypto, matching LastPass's security-hardening claims, 2026

Questions people ask

Is LastPass profitable in 2026?: LastPass does not disclose financials. Third-party estimates put annual revenue between $90.5M and $200M as of July 2026, but no profit figures are public. It is privately held under Francisco Partners and Elliott Management, so profitability cannot be independently confirmed.
Who owns LastPass?: LastPass is owned by private equity firms Francisco Partners and Elliott Management (via Evergreen Coast Capital), the same sponsors that took parent company GoTo private in a $4.3B 2020 buyout. LastPass fully spun out as an independent company on May 3, 2024.
Has LastPass been breached again after 2022?: Yes. On June 24, 2026, LastPass confirmed attackers used stolen OAuth tokens from vendor Klue to access its Salesforce CRM, exposing customer names, emails and support-case data, part of a broader supply-chain campaign also hitting Recorded Future and Jamf.
Is LastPass safe to use in 2026?: LastPass holds ISO 27001, SOC2 and ISO 27701 certifications and uses 600,000 PBKDF2-SHA256 iterations, but it suffered a 2022 vault-theft breach and a June 2026 Salesforce/Klue supply-chain breach, plus a £1.228M UK ICO fine in December 2025, raising ongoing trust concerns.
Who is LastPass's biggest competitor?: Google Password Manager (~32% US consumer share) and Apple iCloud Keychain (~23%) dominate via free OS-native distribution as of March 2026, while 1Password, Bitwarden and Keeper compete directly for enterprise and paid consumer users.
Could AI or passkeys replace LastPass?: Passkeys are extending rather than replacing vault-based managers as of mid-2026, per industry reporting, but LastPass launched 'Secure Access Essentials' in April 2026 to track shadow-AI credential use, following rather than leading 1Password's May 2026 AI-agent credential framework.

Timeline

2026-06-24LastPass confirms Klue/Salesforce OAuth token breach exposing customer contact and support data
2026-04-27LastPass launches Secure Access Essentials targeting shadow-AI and unauthorized-app visibility
2026-02US class-action settlement of $24.5M reported over 2022 breach, including $16M for crypto-theft losses
2025-12-11UK ICO fines LastPass £1.228M for GDPR/security failures tied to 2022 breach
2025-10-15LastPass warns of impersonation attacks using fake breach-alert phishing campaigns
2024-05-03LastPass completes spinoff from GoTo, becomes independent company
2022-08-26LastPass discloses intrusion into development system (2022 vault-theft breach)
2022-04-26Karim Toubba appointed CEO of LastPass
2020-08GoTo (LastPass parent) taken private in $4.3B buyout by Francisco Partners and Elliott
2015LogMeIn acquires LastPass for $110M

Revision history

21 July 2026

First assessed. Protection under test. The text above is fixed as of this date and is not edited afterwards.

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