-
Gain: Up 20% year over year to $277.2 million.
-
Adjusted EBITDA: Record quarterly adjusted EBITDA of $14 million, up from breakeven last year.
-
Yield after 12 months: Over $1 billion with adjusted EBITDA of $32 million.
-
Payments Penetration: Increase from 25% in the same quarter last year to 37%.
-
Software subscription revenue: Grew 6% year over year to $85.5 million, with gross margins increasing to 79%.
-
Transaction-based revenue: Grew 33% to $183.8 million.
-
Gross margin: The total gross margin was 41%, the same as the previous quarter.
-
Cash and cash equivalents: Just under $660 million at the end of the quarter.
-
Gross profit: Up 19% year over year to $114.3 million.
-
Adjusted income: $19.9 million compared to $6.4 million last year.
-
GTV: Up 49% year over year to $8.8 billion.
-
Lightspeed Capital revenue: Grew to $9.3 million, up 121% year over year.
-
Adjusted Free Cash Flow: Positive for the quarter.
-
ARPU: Reached a record high of $527, up 24% year-over-year.
Release date: November 7, 2024
For the full earnings call transcript, please refer to the full earnings call transcript.
-
Lightspeed Commerce Inc (NYSE:LSPD) reported 20% year-over-year revenue growth, reaching $277.2 million, exceeding their expectations.
-
Payments penetration increased significantly to 37% from 25% in the same quarter last year, contributing to a record quarterly adjusted EBITDA of $14 million.
-
Over a twelve-month period, revenues exceeded $1 billion, with adjusted EBITDA of $32 million, indicating strong financial performance.
-
The company added several high-profile clients, including Grow Generation and the Nashville Country Music Hall of Fame, demonstrating its ability to attract large, complex clients.
-
Lightspeed Commerce Inc (NYSE:LSPD) focuses on its strongest markets, North American retail and European hospitality, which have the best economic performance and growth potential.
-
The company is undergoing a strategic review, creating uncertainty about its future direction and possible restructuring.
-
Subscription revenue growth was only 6% year-over-year, indicating slower growth compared to transaction-based revenue.
-
Retail same-store sales remain under pressure, with some vertical markets still experiencing declines, although the pace of decline is slowing.
-
Payment penetration rates increased at a slower pace compared to previous quarters, possibly due to seasonality and geographic mix.
-
The emphasis is on reallocating resources, which can bring operational changes and impact short-term performance.
