Lightspeed Commerce Inc., a leading unified POS and payments platform, has announced its financial results for the three and six months ended September 30, 2024. The company reported total revenue of $277.2 million, representing a 20% year-over-year growth and exceeding its outlook. The net loss improved to ($29.7) million, while positive Adjusted EBITDA reached $14.0 million, surpassing the projected $12 million.
Lightspeed’s monthly average revenue per user (ARPU) in the quarter grew by 24% year-over-year to approximately $527. The company’s gross profit increased by 19% to $114.3 million. Notably, Lightspeed has raised its Fiscal 2025 Adjusted EBITDA outlook to a minimum of $50 million from the previous minimum of $45 million.
Dax Dasilva, Founder and CEO of Lightspeed, expressed his pride in the company’s achievement of surpassing $1 billion in revenue on a trailing twelve-month basis. He also highlighted the continuous product innovation, with the release of numerous features aimed at assisting complex, high-volume SMBs in managing and expanding their businesses.
Asha Bakshani, CFO of Lightspeed, emphasized the success of the company’s initiatives to expand payments adoption and control costs. She noted that Lightspeed achieved record Adjusted EBITDA and positive Adjusted Free Cash Flow. Bakshani further stated that the company remains focused on improving Adjusted EBITDA, which is now expected to reach a minimum of $50 million in Fiscal 2025.
During the second quarter, Lightspeed introduced several new product releases, including Retail Insights globally, Multi-Location Ordering, and Instant Payouts expansion to retailers in the UK. The company also witnessed an increase in customer adoption of its unified POS and payments offering, leading to a growth in gross profit.
Lightspeed’s financial outlook for the third quarter includes an estimated revenue range of $280 million to $285 million and an Adjusted EBITDA of approximately $14 million. For Fiscal 2025, the company expects a minimum revenue growth of 20% and an Adjusted EBITDA of at least $50 million.
In light of its ongoing strategic review, Lightspeed has postponed its Capital Markets Day, previously scheduled for November 20. The company will provide updates on the strategic review as required under regulatory obligations.
Investors can access the conference call and webcast discussing the financial results on the company’s Investor Relations website. Lightspeed’s unaudited condensed interim consolidated financial statements and management’s discussion and analysis are available on the website as well.