Lightspeed Commerce Inc (TSX:LSDP, NYSE:LSDP)’s efforts to reassure investors by raising low-end guidance on better-than-anticipated third-quarter results seemed to fall flat as shares slipped on Thursday morning.
Montreal-based Lightspeed lifted bottom-end revenue guidance by US$5 million in Thursday’s results, to reflect a new range of $895 million to $905 million.
This came as the firm reported narrower losses and better-than-expected revenue for the three months to December.
Revenue climbed 27% to US$239.7 million, ahead of FactSet expectations of a jump to $236.7 million.
Adjusted income came in at US$0.8 a share, compared to analysts’ anticipations for US$0.5 and better than last year’s US$0.00.
Net losses sat at US$40.2 million meanwhile, against US$814.8 million last year.
"Overall I was very pleased with the quarter,” chief financial officer Asha Bakshani commented.
“We were able to grow the top line by 27% and our disciplined approach on costs helped us deliver positive Adjusted EBITDA performance,” she added, with this sitting at US$3.6 million.
The firm noted that the upcoming fourth quarter was historically its weakest in terms of gross transaction value, however.
Guidance for breakeven adjusted earnings was held as a result, with Lightspeed also pointing to “seasonal weakness, uncertainties surrounding the general economy and the pace of Lightspeed Payments adoption in international markets”.
Shares fell 15.75% to US$16.48.