Lightspeed Commerce Inc. has signed a North American partnership deal with Uber to integrate Uber Direct and Uber Eats marketplace into its platform. Lightspeed offices are seen in Montreal, Thursday, Jan. 18, 2024. THE CANADIAN PRESS/Christinne MuschiLightspeed Commerce Inc. reported better-than expected revenue and adjusted earnings in its fiscal first quarter and slightly upped its bottom line forecast for the year.
Lightspeed also said that the number of larger customer locations generating more than US$500,000 and US$1-million in gross transaction volumes increased by four per cent year over year. That segment is important for Lightspeed as it has shifted its strategy in the past two years to serving these relatively larger clients while shedding smaller customers.
Total revenue for the quarter was US$266.1-million, up 27 per cent year over year on stronger-than-expected transaction revenue from processing payments for customers. That was ahead of the company’s prediction three months ago that it would book US$255-million to US$260-million in the period. Adjusted operating earnings in the quarter were US$10.2-million, well ahead of the US$7-million the company had forecast, and up from an adjusted operating loss of US$7-million a year earlier.