March 3rd, 2024

Lightspeed Commerce reports Q3 loss, revenue up 27% from year earlier

By The Canadian Press on February 8, 2024.

Lightspeed Commerce Inc. reported a loss of US$40.2 million in its latest quarter as its revenue rose 27 per cent compared with a year earlier. 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 loss of US$40.2 million in its latest quarter as its revenue rose 27 per cent compared with a year earlier.

The Montreal-based e-commerce technology company, which keeps its books in U.S. dollars, says its loss amounted to 26 cents US per diluted share for the quarter ended Dec. 31.

The result compared with a loss of US$814.8 million or US$5.39 per diluted share a year earlier when the company took a non-cash goodwill impairment charge of US$748.7 million.

On an adjusted basis, Lightspeed says it earned US$11.8 million or eight cents per share in its latest quarter compared with an adjusted profit of US$400,000 or zero cents per share a year earlier.

Revenue for what was the third quarter of the company’s 2024 financial year totalled US$239.7 million, up from US$188.7 million a year earlier.

In its outlook for its full 2024 financial year, Lightspeed says it expects revenue of about US$895 million to US$905 million, while its adjusted earnings before interest, taxes, depreciation and amortization are expected to be break even or better.

This report by The Canadian Press was first published Feb. 8, 2024.

Companies in this story: (TSX:LSPD)

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