By Adriano Marchese
Lightspeed Commerce Inc. on Thursday reported an increased fourth-quarter loss, but lower than analysts’ expectations, while revenue beat forecasts as the company saw more transactions processed through its platform.
The Montreal-based e-commerce and point-of-sale company said the loss per share widened to 77 cents from a loss of 34 cents in the comparable quarter a year ago.
Lightspeed reported a net loss of $114.5 million, compared to a loss of $42 million a year ago.
On an adjusted basis, which excludes certain items such as acquisition-related costs, the loss was 15 cents per share. According to FactSet, analysts had expected a loss of 16 cents per share.
Total revenue rose from $39.7 million to $146.6 million, beating analysts’ expectations of $141.9 million.
Gross transaction volume, a key industry metric that measures the dollar value of transactions processed through its platform, reached $18.4 billion, representing a 71% year-over-year increase. other.
“With the easing of pandemic-related restrictions in most markets around the world, we delivered strong operational performance in March. 48% of revenue based on subscriptions and transactions,” said the CFO. and Operations Officer Brandon Nussey said.
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