Briefing

Lightspeed revenue up 51 per cent, but losses mount amid firm’s international push

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The Montreal-based point-of-sale technology company had a net loss of US$10.1 million in the second quarter of 2019, compared with a loss of US$8.2 million for the same period last year. (The Logic)

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Talking point: Lightspeed is trying to expand into Europe, Africa and Asia-Pacific all at the same time, so while revenues are up—US$28 million this quarter compared with US$18.6 million a year ago—costs are, too. Even more spending is likely around the corner: In October, Lightspeed CEO Dax Dasilva told The Logic he had a “robust pipeline” for potential acquisitions. The firm currently has US$171.8 million in cash on hand to make more purchases. It also has no debt, despite taking out a US$55-million debt facility with CIBC in April. This is the third time Lightspeed has reported earnings since going public this year, and the first time its results have been relatively mixed. When it reported in August, its stock rose 8.9 per cent. In May, it jumped 13.8 per cent. This time, the market is less enthused; the company was down 1.3 per cent at close Thursday.