- Lightspeed POS Inc. (NYSE: LSPD) reported third-quarter revenue growth of 79% year-over-year to $57.6 million, thanks to the growing adoption of its cloud-based platform for omnichannel strategies by small and medium-sized businesses. Revenue growth excluding the ShopKeep and Upserve acquisitions stood at 53%.
- Recurring software and payments revenue rose 85% to $52.5 million. The growth rate excluding the acquisitions stood at 47%.
- The customer base grew by 74% to 115,000 locations, and the gross transaction volume through the cloud-based SaaS platform rose 48% to $9.1 billion. Excluding the acquisitions, it grew 29%.
- The gross profit rose 54% to $57.6 million while the margin contracted by 911 basis points. The operating loss grew 171% to $44.6 million as the operational expenses doubled on a year-on-year basis. The EBITDA margin improved from -16.3% to -11.4%.
- The net loss per share stood at $0.06 compared to $0.07 in the year-ago period.
- Lightspeed had $232.6 million in unrestricted cash and equivalents as of December 31, 2020.
- Operating cash flow loss rose from $10.7 million to $54.1 million for the quarter.
- Jim Texier departed as the Chief Product Officer as a part of a restructuring process. Manon Brouillette joined the board of directors.
- The revenue outlook for the fourth quarter of FY21 lies between $68 million and $70 million, with an expected EBITDA loss of $12 million and $14 million.
- Price action: LSPD shares are trading higher by 5.80% at $79.12 on last check Thursday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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