Lightspeed Commerce Inc. reported Q1 revenue increase of 27% to $266.1M and reduced net losses to $35M.

Lightspeed Commerce Inc. reported better-than-expected revenue and adjusted earnings for its fiscal first quarter with a 27% increase in total revenue to $266.1M. Despite a 10% staff cut, net losses reduced to $35M from $48.7M in Q1 2020. The company aims to focus on accelerating growth in its software business and achieve profitable growth. Lightspeed's revenue growth challenges led to the departure of CEO Jean Paul Chauvet and the return of founding CEO Dax Dasilva.

August 01, 2024
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