Why Lightspeed Commerce Stock Dropped Today
Shares of Lightspeed Commerce (NYSE: LSPD) are down 24.6% as of 3:45 p.m. ET Thursday after cautious forward guidance overshadowed an otherwise strong quarterly report from the Canada-based, point-of-sale and e-commerce software company.
For its fiscal third-quarter 2024 ended Dec. 31, 2023, Lightspeed's revenue grew 27% year over year to $239.7 million, translating to adjusted (non-GAAP) net income of $11.8 million, or $0.08 per share (up from a modest profit of $0.4 million in the same year-ago period). Analysts, on average, were only modeling earnings of $0.05 per share on revenue closer to $236 million.
Trending toward the bottom line, Lightspeed's adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) swung to positive $3.6 million, well above guidance for positive $2 million and swinging from a loss of $5.4 million in the same year-ago period.
Source Fool.com
