News Summary

Montréal-based Lightspeed Commerce, an e-commerce firm, has upgraded its yearly forecast following a strong fiscal Q2, where it reported $319 million USD in revenue, surpassing internal forecasts. Despite a net loss of $32.7 million, slightly higher than last year’s $29.7 million loss, the company showed improved financial health with an adjusted income increase of 11.5% year-over-year. Lightspeed’s transaction-based revenue grew by 17% to $215.8 million, while subscription revenue rose by 9% to $93.5 million. The firm’s gross transaction volume reached $25.3 billion, up by 7%. CFO Asha Bakshani emphasized the growth in adjusted free cash flow from $1.8 million to $18 million, showcasing the company’s ability to invest in growth while enhancing profitability. Lightspeed’s strategic plan includes a focus on retail growth in North America and hospitality in Europe, with a 15% year-over-year growth in these areas. The company introduced new AI-powered products and added key tech figures to its board of directors, signaling a robust strategic direction for future growth.