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)
Skip to content
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.”
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.
Special Report
Canada fires back at Trump with tariffs on nearly $28B worth of U.S. goods
Briefing
Descartes buys freight software firm Tai for US$100M
Big businesses see sovereign AI as an edge—if they know what it is
Scotiabank beats profit estimates as capital markets surge
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.
