Lightspeed Commerce Inc. announced its financial results for the three months ended September 30, 2024, reporting total revenue of $277.2 million, which grew 20% year-over-year and exceeded the company's outlook. The net loss improved to ($29.7) million, indicating progress towards profitability.
The company achieved a positive Adjusted EBITDA of $14.0 million, surpassing its outlook of $12 million, and reported a gross profit of $114.3 million, an increase of 19% year-over-year. Monthly ARPU (Average Revenue Per User) grew 24% year-over-year to approximately $527.
Lightspeed raised its Adjusted EBITDA outlook for Fiscal 2025 to a minimum of $50 million, up from a previous minimum of $45 million. The company also noted the postponement of its Capital Markets Day, previously scheduled for November 20, due to an ongoing strategic review.
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