Lightspeed sees $46.7M net loss in Q1 as it launched products in new markets
By The Canadian Press on August 3, 2023.
MONTREAL – Lightspeed Commerce Inc. reported a US$48.7 million net loss in its most recent quarter as it introduced several products to new markets. The Montreal-based e-commerce software business says its first quarter net loss compared with a net loss of US$100.8 million a year ago. The company, which keeps its books in U.S. dollars, says the net loss for the period ended June 30 amounted to 32 cents per basic and diluted share compared with 68 cents a year prior. Analysts on average had expected an adjusted profit of 36 cents per share for the period ended June 30, according to estimates compiled by financial markets data firm Refinitiv. Revenue totalled almost US$209.1 million, up from US$173.8 million last year. The company says the quarter included a period where it launched a new analytics tool in Europe and brought its business funding offering called Lightspeed Capital to Australia and Quebec. This report by The Canadian Press was first published Aug. 3, 2023. Companies in this story: (TSX:LSPD) 9-8
