Lightspeed Commerce Inc. posted a larger\u002Dthan\u002Dexpected US$814.8\u002Dmillion loss. Find out more.
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About one-third of the US$748.7-million impairment charge in the fiscal third quarter came from the firm’s largest acquisitions — those of Ecwid and NuORDER — which it made in 2021, the Montreal-based company said.Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc.
“Because the shares went down quite a bit, there’s just an accounting treatment that brought a net loss,” chief executive Jean-Paul Chauvet said in an interview. “That has nothing to do with our cash, nothing to do with our operations.” Lightspeed maintained its guidance that its earnings before interest, taxes, depreciation and amortization would break even or turn positive in fiscal year 2024.
Quarterly revenue rose 24 per cent from a year earlier to US$188.7 million. Adjusted Ebitda was a loss of US$5.4 million, narrower than the US$8.5-million loss that analysts were expecting, according to data compiled by Bloomberg.
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