Lightspeed Inc. (NASDAQ: LSPD) stock plunged by 28.55% in the current market trading session. Lightspeed’s one-stop commerce platform enables merchants to innovate to simplify, grow, and create amazing customer interactions by powering the companies that are the core of the global economy.
LSPD stock’ Financial Highlights
Lightspeed announced financial results for the second quarter fiscal 2022. The highlights are given below:
- Total revenue increased by 193 percent to $133.2 million.
- Subscription revenue increased by 132 percent to $59.4 million.
- Transaction-based revenue increased by 320 percent to $65.0 million.
- A net loss of $59.1 million was reported, compared to a loss of $19.5 million the previous year.
- Adjusted Loss was $11.1 million, or $0.08 per share, after adjusting for acquisition-related expenditures and stock-based compensation, a decrease from 10.1 percent to 8.3 percent of revenue.
- A loss of $8.7 million in adjusted EBITDA, or 6.5 percent of revenue versus 6.2 percent
- Lightspeed has $1.2 billion in unrestricted cash and cash equivalents as of September 30, 2021.
Dax Dasilva, Founder and CEO of Lightspeed commented,
Lightspeed’s robust commerce platform has enabled their clients to not only thrive but grow in the aftermath of the pandemic. Lightspeed will strive to deploy ground-breaking technology with the inclusion of Ecwid and NuORDER, allowing their customers to reach the future with better insight, control, and trust than they have ever had before.
Chief Financial and Operations Officer Brandon Nussey stated,
Lightspeed had a fantastic performance this quarter, with excellent GTV growth, a higher Payments Penetration Rate, and increasing product usage. Despite the fact that the rate of the world economy is projected to be uneven, their basic business fundamentals remain solid.
Future Expectations
- The expected revenue for the third quarter of 2022 is $140 to $145 million and for the full year of fiscal 2022, it would be around $520 to $535 million.
- A loss of around $10 to $12 million in adjusted EBITDA, or approximately 8 percent of revenue is expected for the third quarter and for the full year fiscal 2022 a loss of around $40 million to $45 million in adjusted EBITDA, or approximately 8 percent of revenue is anticipated.
