Lightspeed POS reports US$42M Q4 loss, revenue more than doubles

MONTREAL — Lightspeed POS Inc. reported a net loss of US$42 million in its latest quarter compared with a loss of US$18.6 million in the same quarter a year earlier as its revenue more than doubled.

The Montreal-based e-commerce company, which keeps its books in U.S. dollars, says the loss amounted to 34 cents per diluted share for the quarter ended March 31 compared with a loss of 21 cents per diluted share a year earlier when it had fewer shares outstanding.

Revenue in what was the company’s fourth quarter totalled US$82.4 million, up from US$36.3 million.

The company says the growth was due to a combination of organic growth and the recent acquisitions of Upserve and ShopKeep, which added US$31.2 million in revenue.

On an adjusted basis, Lightspeed reported a loss of US$11.2 million or nine cents per diluted share for its most recent quarter compared with an adjusted loss of US$5.6 million or six cents per diluted share a year ago.

Lightspeed closed its deal to buy New Zealand-based Vend Ltd., a cloud-based retail management software company, last month.

This report by The Canadian Press was first published May 20, 2021.

Companies in this story: (TSX:LSPD)

The Canadian Press