- Lightspeed Commerce reported that its total Q3 2023 revenue hit C$239.7 million, up 27 per cent year-over-year and more than its outlook
- Lightspeed narrowed its loss to C$40.2 million, or 26 cents a share loss and scored better-than-expected revenue in its fiscal Q3 2023
- Lightspeed is increasing the lower end of its fiscal 2024 revenue outlook and anticipates revenue of approximately C$895 million to C$905 million
- Lightspeed Commerce Inc. last traded at C$26.33 per share
Lightspeed Commerce (TSX:LSPD) reported that its total Q3 2023 revenue hit C$239.7 million, up 27 per cent year-over-year and more than its outlook.
The point-of-sale and e-commerce company released its financial results for the three and nine months ending Dec. 31, 2023. Lightspeed narrowed its loss to C$40.2 million, or 26 cents a share loss and scored better-than-expected revenue in its fiscal Q3 2023, as customers processed more through its platform. For comparison, its Q3 2022 net loss was C$814.8 million (or C$5.39 per share).
Transaction-based revenue was C$147.8 million, an increase of 38 per cent year-over-year and subscription revenue was C$80.9 million, an increase of 9 per cent year-over-year.
The team also highlighted new products released in the quarter, such as Instant Payouts available to U.S. merchants and Lightspeed Tableside for restaurants, a compact, portable, and flexible point-of-sale and payment processing device, is also now available in the United States.
Lightspeed is increasing the lower end of its fiscal 2024 revenue outlook and anticipates revenue of approximately C$895 million to C$905 million.
Lightspeed Commerce Inc. provides an omnichannel commerce-enabling SaaS platform. Its software platform provides customers with the functionality it needs to engage with consumers, manage their operations, accept payments and grow their business.
Lightspeed Commerce Inc. last traded at C$26.33 per share and its stock is up more than 9 per cent year to date.
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