Lightspeed Commerce reports Q2 loss, revenue up 20% from year ago

MONTREAL – Lightspeed Commerce Inc. reported a loss of US$29.7 million in its latest quarter compared with a loss of US$42.5 million a year ago as its revenue rose 20 per cent.
The payment technology firm, which keeps its books in U.S. dollars, says the loss amounted to 19 cents US per share for the quarter ended Sept. 30 compared with a loss of 28 cents US per share a year ago.
Revenue for the quarter totalled US$277.2 million, up from US$230.3 million in the same quarter last year.
Subscription revenue totalled US$85.5 million, up from US$81.0 million a year ago, while transaction-based revenue amounted to US$183.8 million, up from US$137.7 million. Hardware and other revenue was US$7.9 million, down from US$11.6 million a year ago.
On an adjusted basis, Lightspeed says it earned 13 cents per share compared with an adjusted profit of four cents per share a year earlier.
In its outlook, Lightspeed says it now expects adjusted earnings before interest, taxes, depreciation and amortization for its full year of at least US$50 million, up from earlier guidance for at least $45 million.
This report by The Canadian Press was first published Nov. 7, 2024.
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