Lightspeed sees $46.7M net loss in Q1 as it launched products in new markets

MONTREAL – Lightspeed Commerce Inc. is reporting a US$48.7 million net loss in its most recent quarter as it introduced several products to new markets.

The Montreal-based e-commerce software business says its first quarter net loss compared with a net loss of US$100.8 million a year ago.

The company, which keeps its books in U.S. dollars, says the net loss for the period ended June 30 amounted to 32 cents per basic and diluted share compared with 68 cents a year prior.

Its adjusted loss totalled US$2.2 million or one cent per basic and diluted share compared with about $17.6 million or 12 cents per basic and diluted share the year before.

Revenue was almost US$209.1 million, up from US$173.8 million last year.

The company says the quarter included a period where it launched a new analytics tool in Europe and brought its business funding offering called Lightspeed Capital to Australia and Quebec.

This report by The Canadian Press was first published Aug. 3, 2023.

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