(Montreal) Lightspeed Commerce reported a loss of US$40.2 million in its most recent quarter as revenue increased 27% from the previous year.
The Montreal-based e-commerce technology company, which reports its results in US dollars, says its loss amounted to 26 US cents per diluted share for the quarter ended December 31.
In the corresponding period last year, Lightspeed posted a loss of US$814.8 million, or US$5.39 per diluted share, as the company recorded a goodwill impairment charge (goodwill) excluding cash of US748.7 million.
On an adjusted basis, Lightspeed says it earned US$11.8 million, or eight cents per share, in its most recent quarter, compared to an adjusted profit of US$400,000, or zero cents per share, a year earlier.
Revenue for the company’s third quarter of fiscal 2024 was 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 between US$895 million and US$905 million, while its adjusted earnings before interest, taxes, depreciation and amortization are expected to be “balanced or positive”.
Company in this dispatch: (TSX: LSPD)