REV UP 25%
OPP EX DOWN 15%
THAT IS A RECIPE FOR SUCCESS,....
HUMMMMMMM-
Lightspeed Commerce Shares Drop 11% on Lower Revenue Growth Expectations for FY24
Published: May 18, 2023 at 9:47 a.m. ET
Lightspeed Commerce shares were down sharply Thursday morning after the company said that it expects lower revenue growth and higher costs due to its launch of a unified payments and point-of-sale system in fiscal 2024.
Shares trading in Toronto were down 11% at 9:40 a.m., falling to 17.80 Canadian dollars a share ($13.23).
The Canadian e-commerce platform said it continues to expected adjusted earnings before interest, taxes, depreciation and amortization to be at break-even or better in the fiscal year.
It set a target of between $875 million and $900 million for revenue, with stronger growth tilted more in the second half of the year as unified payments roll out.
Lightspeed also expects to take on some incremental costs to the tune of $12 million in the first part of the year as it launches the program, which includes hardware subsidies, technical support and contract buyouts.