June 21st, 2024

Lightspeed Commerce reports Q2 revenue up 25% from year ago

By The Canadian Press on November 2, 2023.

A Lightspeed logo is shown at the company's offices in Montreal, Tuesday, May 16, 2023.THE CANADIAN PRESS/Ryan Remiorz

MONTREAL – Lightspeed Commerce Inc. reported a smaller loss in its second quarter compared with a year ago as its revenue rose 25 per cent.

The company, which keeps its books in U.S. dollars, says it lost US$42.5 million or 28 cents per share for the quarter ended Sept. 30 compared with a loss of US$79.9 million or 53 cents per share a year earlier.

Revenue totalled US$230.3 million, up from US$183.7 million in the same quarter last year.

On an adjusted basis, Lightspeed says it earned four cents per share in its latest quarter compared with an adjusted loss of five cents per share in the same quarter last year.

In its outlook for its third quarter, Lightspeed says it expects revenue between US$232 million and US$237 million and adjusted earnings before interest, taxes, depreciation and amortization of about US$2 million.

Lightspeed also says it expects revenue for its 2024 financial year to come in between US$890 million and $905 million and adjusted EBITDA to be break even or better.

This report by The Canadian Press was first published Nov. 2, 2023.

Companies in this story: (TSX:LSPD)

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