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Feb 4, 2021

Lightspeed POS reports US$42.7M Q3 loss, revenue up 79% from year ago

Lightspeed a 'crucial lifeline' for small businesses: CEO Dax Dasilva

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MONTREAL - Lightspeed POS Inc. reported a loss of US$42.7 million in its latest quarter as its revenue rose 79 per cent compared with a year ago.

The company, which keeps its books in U.S. dollars, says its loss amounted to 39 cents per share for the quarter ended Dec. 31 compared with a loss of US$15.8 million or 18 cents per share a year earlier.

Revenue in what was the company's third quarter totalled US$57.6 million, up from US$32.3 million.

On an adjusted basis, Lightspeed says it lost six cents per share for the quarter compared with an adjusted loss of seven cents per share a year earlier.

Analysts on average had expected an adjusted loss of 17 cents per share and US$50.2 million in revenue, according to financial data firm Refinitiv.

In its outlook for its fourth quarter, Lightspeed says it expects revenue between $68 million and $70 million and its adjusted earnings before interest, taxes, depreciation and amortization to show a loss of $12 million to $14 million.