Lightspeed Stock Soars On Upbeat Revenue Outlook

May 20, 2021 04:40 PM PDT | By Kiran Murali

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Lightspeed Stock Soars On Upbeat Revenue Outlook — Image source: ART STOCK CREATIVE,Shutterstock

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Summary

Lightspeed forecasts revenue in the range of US$430 to US$450 million for the fiscal year 2022.

In fiscal 2021, revenue soared 84 percent year over year.

The Canadian company’s stock is up 107 percent since the NYSE listing.

Lightspeed POS Inc. (NYSE:LSPD) jumped 15.6 percent on Thursday, May 20, after it reported its fiscal 2021 results and projected revenue to double in the fiscal year 2022.

Montreal-based Lightspeed provides a cloud-based point of sale solutions to retailers, restaurants and hospitality businesses, and golf courses and clubhouses.

The Canadian company started trading on the New York Stock Exchange in September 2020. The stock has grown 107 percent since the listing.

Lightspeed ended Thursday’s trading at US$66.45. It has a market capitalization of US$8.75 billion and a 52-week trading range of US$28.29 to US$82.53.

Fourth Quarter Results

For the fiscal fourth quarter ended March 31, Lightspeed reported a 127 percent year-over-year growth in its total revenue to US$82.4 million.

Revenue from recurring subscription and transaction, which represents 91 percent of total revenue, rose 137 percent to US$75.3 million.

Lightspeed added US$31.2 million in revenue from the recent acquisitions of restaurant software Upserve and cloud commerce platform provider ShopKeep.

Gross transaction volume during the quarter totaled US$10.8 billion, up 76 percent.

Source: Pixabay

However, net loss widened to US$42 million from the loss of US$18.6 million in the year-ago quarter. Lightspeed’s adjusted loss came in at US$11.2 million, or 9 cents per share, compared to the loss of US$5.6 million, or 6 cents per share, in the year-ago period.

The company’s total operating expenses doubled during the quarter to US$87.1 million from US$44.2 million.

Fiscal 2021 Results

Lightspeed said its total revenue for the year ended March 31 totaled US$221.7 million, up 84 percent year over year.

Net loss came in at US$124.3 million, compared with the loss of US$53.5 million in fiscal 2020. Adjusting net loss during the year was US$24.2 million, compared to US$20.6 million in the previous financial year.

Fiscal 2022 Outlook

The company remains optimistic amid expectations of increased scale and strong product offering as the market reopens. Lightspeed forecasts revenues in the range of US$430 to US$450 million for the fiscal year 2022.

Meanwhile, Lightspeed projects its first-quarter revenue to come in the range of US$90 and US$94 million.

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