The Lightspeed offices are seen Tuesday, May 16, 2023 in Montreal. THE CANADIAN PRESS/Ryan Remiorz
MONTREAL – Lightspeed Commerce Inc. reported a loss of US$74.5 million in its fourth quarter compared with a loss of $114.5 million in the same quarter a year earlier as its revenue rose 26 per cent.
The e-commerce company, which keeps its books in U.S. dollars, says the loss amounted to 49 cents per diluted share for the quarter ended March 31 compared with a loss of 77 cents per diluted share a year earlier.
Revenue in the final quarter of the company’s 2023 financial year totalled US$184.2 million, up from US$146.6 million last year.
The increase came as subscription revenue increased to US$76.2 million compared with US$70.5 million a year earlier, while transaction-based revenue totalled US$99.6 million, up from US$66.7 million.
On an adjusted basis, Lightspeed says its loss amounted to zero cents per diluted share in its latest quarter compared with an adjusted loss of 15 cents per diluted share a year earlier.
Analysts on average had expected an adjusted loss of three cents per share and US$184.2 million in revenue, based on estimates compiled by financial markets data firm Refinitiv.
This report by The Canadian Press was first published May 18, 2023.
Companies in this story: (TSX:LSPD)
