Lightspeed Announces First Quarter 2025 Financial Results and Raises Adjusted EBITDA Outlook for Fiscal 2025

Core Insights - Lightspeed Commerce Inc. reported total revenue of $266.1 million for the quarter ended June 30, 2024, representing a 27% year-over-year growth and exceeding expectations [1][4] - The company improved its net loss to ($35.0) million from ($48.7) million in the same quarter last year, with an Adjusted EBITDA of $10.2 million, surpassing the $7 million outlook [1][4] - Gross Payment Volume (GPV) increased by 64% to $8.4 billion, driven by the adoption of the company's unified POS and payments solutions [10][4] Financial Performance - Total revenue reached $266.1 million, a 27% increase year-over-year, with transaction-based revenue growing by 44% to $174.1 million and subscription revenue increasing by 6% to $83.3 million [4][10] - The net loss improved to ($35.0) million, or ($0.23) per share, compared to a net loss of ($48.7) million, or ($0.32) per share in the prior year [4][48] - Adjusted Income was reported at $16.1 million, or $0.10 per share, compared to an Adjusted Loss of ($2.2) million, or ($0.01) per share in the same quarter last year [4][54] Operational Highlights - The company launched several new products, including an Omnichannel Loyalty Program and improvements in inventory management, enhancing the customer experience [6][7] - Average Revenue Per User (ARPU) grew by 31% year-over-year to approximately $502, reflecting the success of the unified POS and payments offering [7][4] - Lightspeed repurchased approximately 2.7 million shares for about $40 million during the quarter [1][4] Market Position and Strategy - Lightspeed continues to focus on expanding its software business and increasing subscription revenue growth through various initiatives [3][15] - The company anticipates total revenue growth of at least 20% for the full fiscal year, with a positive outlook for Adjusted EBITDA profitability [15][17] - Notable customer acquisitions include major brands like Google's GBike and Tommy Hilfiger, indicating strong market traction [11][4] Sustainability and Corporate Responsibility - The company published its third annual Sustainability Report, highlighting initiatives such as planting over 1.8 million trees and improving gender representation in leadership roles [12][4]