Lightspeed Commerce Reports Narrowed Loss and Higher Revenue in Q3
Lightspeed Commerce reported a narrower loss and better-than-expected revenue in its fiscal third quarter as customers processed more through its platform.
Financial Results:
- The Montreal, Quebec-based point-of-sale and ecommerce company narrowed its loss to $40.2 million, or 26 cents a share, in the three months ended Dec. 31, compared with a loss of $814.8 million, or $5.39 a share, in the comparable quarter a year ago.
- Adjusted earnings were 8 cents a share, beating FactSet-polled analyst expectations of 5 cents a share.
- Third-quarter revenue rose 27% to $239.7 million, exceeding analysts' expectations.
- Transaction-based revenue rose 38% in the quarter to $147.8 million, while subscription revenue rose 9% to $80.9 million.
Gross Transaction Value:
- Lightspeed's customers processed gross transaction value of $23.1 billion, up 3% year-over-year.
Adjusted EBITDA:
- Adjusted earnings before interest, taxes, depreciation and amortization was $3.64 million, compared with a loss of $5.41 million in the prior year's third quarter.
- It exceeded the company's expectations for the period, which projected a profit of $2 million.
For more information, please visit Lightspeed Commerce's website.
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