Lightspeed Commerce Inc. (LSPD) Thursday reported net loss of $49.6 million or $0.35 per share for the first quarter, wider than $35 million or $0.23 per share loss in the same quarter a year ago, mainly due to higher expenses.
Excluding one-time items, the company posted earnings of $7.9 million or $0.06 per share, down from $16.1 million or $0.10 per share last year.
On average, 12 analysts expected earnings of $0.13 per share. Analysts' estimates typically exclude special items.
Operating loss narrowed to $42.1 million from $44.1 million a year ago.
Revenue for the quarter was $304.9 million, an increase of 15% year-over-year. The consensus estimate was for $287.24 million.
Transaction-based revenue grew 18% to $204.6 million, and Subscription revenue rose 9% to $90.9 million.
For the second quarter, the company expects revenue to be in the range of $305 million to $310 million. Analysts see revenue for $310.66 million.
For the full year, Lightspeed Commerce sees revenue growth of 10% - 12%. The Street is looking for revenue growth of 10.54%.
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