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Summary
- Stocks of tech firm Lightspeed POS Inc (TSX:LSPD) rocketed by as much as 12 per cent at opening bell on Thursday, May 20.
- The surge came following the release of its latest quarterly earnings and outlook.
- The Canadian software company reported record quarterly top line, up 127 per cent year-over-year (YoY), for the fourth fiscal quarter of 2021.
Stocks of tech firm Lightspeed POS Inc (TSX:LSPD) rocketed by as much as 12 per cent at opening bell on Thursday, May 20, following the release of its latest quarterly earnings and outlook.
The Canadian software company reported record quarterly revenue of US$ 82.4 million, up 127 per cent year-over-year (YoY), for the fourth fiscal quarter of 2021.
Lightspeed also forecast massive two-times revenue surge for fiscal 2022.
Its earnings outperformed its previous estimation of US$ 68 million to stand at US$ 70 million in revenue for Q4 FY21 ending 31 March 2021.
However, the company also registered a loss of US$ 42 million in the fourth quarter, over half of its revenue. Its EBITDA saw a loss of US$ 9.6 million, a sequential improvement.
Lightspeed had a rise of US$ 10.8 billion in its vendor take-back (VTB). As of March 31, 2021, the company recorded operations in over 140,000 customer locations.
Let us glance at this software stock’s price performance and detailed earnings outlook.
Lightspeed POS Inc (TSX:LSPD)
The software-as-a-service company provides online payments and consumer interface solutions. Its shares opened at C$ 74.5 apiece on Thursday, up nearly C$ 80 from its previous trading session. Its current market cap is C$ 10.25 billion.
The fintech stock is down over 22 per cent this year due to a massive correction in the tech industry. It still managed to outperform the S&P/TSX Applications Software Index in the past one year.
The large-cap stock has rebounded by over 202 per cent from its 52-week low of C$ 23.11 apiece (May 19, 2020).
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Lightspeed’s Outlook For Fiscal 2022 & Q1 FY22
Lightspeed projected a revenue in the range of US$ 430 million to US$ 450 million from ordinary activities for FY22, representing a two-times surge against that of FY21.
It expects an adjusted EBITDA loss of nearly US$ 30 million, which indicates seven per cent of total revenue for FY22.
In the first fiscal quarter of FY22, Lightspeed expects to rake a top line in the range of US$ 90 million to US$ 94 million.
The above constitutes a preliminary view and any interest in stocks should be evaluated further from investment point of view.
