The Montreal-based point-of-sales software company reported $266.1 million in revenue for the quarter that ended June 30, up 27 per cent from a year earlier and above the $255 million to $260 million it had previously forecasted. Subscription growth was more muted, up just six per cent year over year to $83.3 million. (The Logic)
Skip to content
The Montreal-based point-of-sales software company reported $266.1 million in revenue for the quarter that ended June 30, up 27 per cent from a year earlier and above the $255 million to $260 million it had previously forecasted. Subscription growth was more muted, up just six per cent year over year to $83.3 million. (The Logic)
Talking point: It’s the first full quarter under Dax Dasilva, Lightspeed’s founder, since he replaced Jean Paul Chauvet and returned to the helm after a two-year hiatus. Dasilva has embarked on a cost-cutting mission to rehabilitate the firm’s struggling stock, which has included laying off 280 people. The company increased its full-year outlook for adjusted EBITDA profitability from $40 million to $45 million “given better than expected results from various cost-saving initiatives,” it said in a press release. Still, the company needs to prioritize software subscriptions going forward “to pursue our goal of profitable growth,” said CFO Asha Bakshani.
Loading...
Thanks for sharing!
You have shared 5 articles this month and reached the maximum amount of shares available.
CloseThis account has reached its share limit.
If you would like to purchase a sharing license please contact The Logic support at [email protected].
CloseGift the full article!
You have gifted 0 article(s) this month and have 5 remaining.
Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.
Most Popular This Week
In-depth, agenda-setting reporting
Great journalism delivered straight to your inbox.
News
Canadians could demand firms delete their personal data under new privacy bill
Briefing
IPOs need to be easier for startups if Canada wants 1,000 Shopifys, Champagne says
Nuvei to acquire cross-border payments company Payoneer for US$2.75B
Joly to visit carmakers on 10-day trip to China and Japan
Best business newsletter in Canada
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
Exclusive events
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership in The Logic Council
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.
