Shares of Lightspeed Commerce surged in early trading on Thursday following the company's impressive performance in its second fiscal quarter. The Canadian e-commerce and payments platform reported a revenue increase from $183.7 million to $230.3 million, surpassing analysts' expectations of $213.9 million according to FactSet. Adjusted earnings also exceeded forecasts, reaching 4 cents per share compared to the projected 1 cent per share profit.
Positive Breakthrough in Performance Metrics
Lightspeed Commerce achieved a significant milestone in its history as it reported adjusted earnings before interest, taxes, depreciation, and amortization of $200,000 for the quarter. This positive result marks a significant shift for the company, which had previously anticipated a loss of $4 million. Success in this metric has been a long-standing goal for Lightspeed, and this achievement demonstrates the effectiveness of their strategic approach.
Promising Future Outlook
Looking ahead, Lightspeed Commerce has raised its revenue guidance for fiscal year 2024 to a range of $890 million to $905 million. Additionally, the company anticipates that adjusted EBITDA for the year will reach break-even or better. For the upcoming third fiscal quarter, Lightspeed Commerce aims to achieve revenue between $232 million and $237 million, with an estimated adjusted EBITDA of approximately $2 million.
Lightspeed's shares have responded positively to these impressive results, with a nearly 16% increase at 10:02 a.m. ET in Toronto, trading at 20 Canadian dollars ($14.43).
For further information, please contact Adriano Marchese.
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