Lightspeed Commerce beats earnings estimates with strong revenue and GPV growth
Published: 10:06 01 Aug 2024 EDT
Lightspeed Commerce Inc (TSX:LSDP, NYSE:LSDP) reported strong fiscal Q1 2025 results with a significant year-over-year revenue increase, surpassing earnings estimates and showing substantial growth in Gross Payment Volume.
Total revenue for the quarter reached $266.1 million, a 27% increase year-over-year, surpassing the consensus estimate of $259.61 million.
The company also reported an adjusted earnings per share (EPS) of $0.10 cents, beating the consensus estimate of $0.07 cents.
The company's Gross Payment Volume (GPV) surged by 64% to $8.4 billion, up from $5.1 billion in the same period last year.
Adjusted EBITDA showed a significant improvement, coming in at $10.2 million compared to a loss of $7 million a year ago.
“Lightspeed stands out with its advanced inventory management and B2B features, which we believe are unmatched by other retail platforms,” CEO Dax Dasilva said in a statement.
“In hospitality, we're preparing to enhance productivity in restaurant operations to unprecedented levels."
Looking ahead, Lightspeed projects Q2 revenue to be between $270 million and $275 million, with a consensus estimate of $272.96 million. The company anticipates Q2 adjusted EBITDA to be around $12 million.
Despite the earnings beat and strong financial performance, Lightspeed's subscription growth remains an area of concern for investors, highlighting the ongoing challenges in sustaining long-term growth momentum.
Canada- and US-listed shares of Lightspeed gained 5% in early trading Thursday.
