- Lightspeed Commerce Inc. LSPD reported fourth-quarter FY23 revenue growth of 26% year-over-year to $184.2 million, missing the consensus estimate of $184.91 million.
- The company registered a break-even adjusted EPS of $0.00, beating the analyst consensus of ($0.03) loss.
- Subscription revenue of $76.2 million increased by 8%, while transaction-based revenue jumped 49% to $99.6 million.
- Monthly ARPU grew by 24% to approximately $335 compared to roughly $270 in the same quarter last year.
- Total Customer Locations grew to approximately 168,000.
- For the quarter, Lightspeed's customers processed GTV of $20.2 billion, up 10% year-over-year.
- The gross profit rose 24.8% to $86.96 million, with a margin of 47.2%.
- Adjusted EBITDA loss in the quarter narrowed to ($4.3) million versus ($19.7) million in the same quarter last year.
- The company exited the quarter with cash and equivalents worth $800.15 million.
- "Our laser focus on continued improvement of unit economics has allowed us to deliver meaningful growth while also positioning us to reach our goal of profitability," said Asha Bakshani, CFO of Lightspeed.
- Going ahead, the company expects to increase the adoption of its solutions amongst more complex merchants, improve sales productivity and create new products and features.
- Outlook: FY24 revenue is expected to be between $875 million - $900 million, versus the consensus estimate of $889.43 million.
- For 1Q24, revenue is expected to be between $195 million - $200 million, versus the $209.24 million consensus.
- Price action: LSPD shares are trading lower by 13.1% at $12.93 on the last check Thursday.
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