Lightspeed Commerce reports Q2 loss, revenue up 38 per cent from year ago mark

MONTREAL — Lightspeed Commerce Inc. reported a loss of US$79.9 million in its latest quarter as its revenue rose 38 per cent.

The software company, which keeps its books in U.S. dollars, says its loss amounted to 53 cents per diluted share for the quarter ended Sept. 30 compared with a loss of US$59.1 million or 43 cents per share in the same quarter last year.

Revenue in what was the second quarter of the company's financial year totalled US$183.7 million, up from US$133.2 million a year earlier.

The increase came as subscription revenue rose to US$74.5 million compared with US$59.4 million a year ago, while transaction based revenue totalled US$101.3 million, up from US$65.0 million in the same quarter a year earlier.

Hardware and other revenue was US$7.9 million, down from US$8.8 million.

On an adjusted basis, Lightspeed says it lost five cents per share in its latest quarter compared with an adjusted loss of eight cents per share in the same quarter last year.

This report by The Canadian Press was first published Nov. 3, 2022.

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The Canadian Press