Globe & MailBased on this, it's a beat on EPS and a very narrow beat on revenue but guidance is a bit lower than anticipated. GLTA
07:42 AM EDT, 05/18/2023 (MT Newswires) -- Lightspeed Commerce (LSPD.TO) said Thursday that it has narrowed its fiscal fourth-quarter net loss to US$402,000 ($541,656.81), or US$0.00 per share, from a year-ago adjusted loss of US$22.9 million, or US$0.15 per share.
Analysts polled by Capital IQ expected a loss of US$0.03.
Revenue for the quarter ended March 31 was US$184.2 million, up from US$146.6 million a year earlier.
Analysts surveyed by Capital IQ expected US$183.9 million.
For the fiscal first quarter of 2024, the company is expecting revenue of US$195 million to US$200 million. Analysts polled by Capital IQ are expecting US$207.4 million.
Adjusted EBITDA loss for Q1 is expected to be about US$10 million.
For fiscal 2024, the company is expecting revenue of about US$875 million to US$900 million, with growth stronger in the second half of the year as unified payments rollout. Analysts polled by Capital IQ are expecting US$894.5 million.
The company is expecting a breakeven or better adjusted EBITDA for fiscal 2024 inclusive of the costs incurred for the unified payments initiative.
The company's shares, which rose 7.3% in Canada yesterday, slipped 0.5% in premarket US trading on Thursday.
Separately, the company said Wednesday that it has unveiled the latest version of its restaurant service: the Next Generation of Lightspeed Restaurant.
The update, which is currently available in the US, offers new features such as pay at table, tap to pay on iOS, scan and pay, and self-service capital.
In more company news, Lightspeed Commerce reported the renewal of its partnership with Saks, a digital platform for luxury fashion, for another four years.
Saks has tapped NuORDER by Lightspeed to digitize its buying and merchandising processes and accelerate its go-to-market strategy.