The Montreal-based fintech’s second-quarter revenue rose 25 per cent year over year to US$230.3 million, surpassing the company’s previous forecast of between US$210 to US$215 million. Lightspeed also topped analyst expectations, posting adjusted earnings of US$0.04 per share, compared with the US$0.01 per share consensus estimate by MarketWatch. Its shares closed up over 14 per cent on the Toronto Stock Exchange. (The Logic)

Talking point: Lightspeed also increased its 2024 revenue outlook to between US$890 to $905 million, up from its previous range of US875 to $900 million. Lightspeed CEO JP Chauvet told The Logic he credits the firm’s growth to its new retail and hospitality platforms and its unified payments initiative, which requires point-of-sale customers to also pay for its payments platform or pay a fee. “We’re basically doubling our revenue for each customer that buys payments and the net impact of that means we will … be a high-growth business and profitable.”