Lightspeed Commerce falls on downbeat revenue forecast

Lightspeed Commerce

18/05/2023 14:01

** U.S.-listed shares of Canadian software firm Lightspeed
Commerce Inc  LSPD.N  down 9.4% at $13.49 premarket
    ** Co sees Q1 revenue in the range of $195 mln - $200 mln vs
analysts' estimates of $205.9 mln - Refinitiv
    ** Also sees FY24 revenue in the range of $875 mln - $900
mln, with midpoint below estimates of $897.2 mln
    ** Posts Q4 total revenue of $184.2 mln, in line with
estimates 
    ** Withdraws previously issued target of 35%-40% annual
organic subscription and transaction-based revenue growth
    ** Outlook reflects caution on near-term results given the
economic climate and its impact on LSPD's end markets - co
    ** LSPD up about 4.1% YTD
    
    


 (Reporting by Vaibhav  Sadhamta)
 ((Vaibhav.Sadhamta@thomsonreuters.com;))