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Stock impact report

Lightspeed bets on transformation as stock slides on Q3 loss [Yahoo! Finance Canada]

Lightspeed Commerce Inc. Subordinate Voting Shares (LSPD) 
Montreal-based Lightspeed's ( LSPD.TO ) shares fell more than five per cent Thursday morning, after the company reported a net loss of US$33.6 million in its third quarter. The point-of-sale company says it lost 24 cents US per diluted share in the quarter ended Dec. 31, compared with a loss of US$26.6 million, or 17 cents US per diluted share, a year earlier. CEO Dax Dasilva told Yahoo Finance Canada the higher net loss was driven by writedowns of software assets acquired during the pandemic that are no longer useful because of advancements in AI and technology. He expects the impact on net loss to end in the fourth quarter, noting that the company has not posted an operating loss. Lightspeed reported quarterly revenue of US$312.3 million, up from US$280.1 million a year earlier. Transaction-based revenue rose to US$209.4 million from US$181.7 million, while subscription revenue increased to US$93.0 million from US$88.1 million. Lightspeed shares tumbled as much as 18 per ce Show less Read more
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