With increasing income, Light speed trading says it concentrates on its software offerings.
The point-of-sale and digital commerce company profit announced Thursday, showing total revenue of $277 million, a 20% year-over-year increase.
Of this amount, $183.3 million came from transaction-based revenue. — up 33% — while subscription revenue climbed 6% to $85.5 million. On a track 12 months Based on this, Lightspeed has now surpassed $1 billion in revenue.
Now CEO Dax Dasilva said during an earnings call, the company is focused on three key objectives designed to help Lightspeed achieve profitable growth, including accelerating its software revenue growth. He said the company started seeing positive signs in this area in the previous quarter.
“But overall, the inflection in software that we’re already seeing is coming from several areas, as we discussed in prepared remarks,” Dasilva said, “including account managers who were inundated with payments have now returned to selling software, full time, or selling our software base.
Management also said it would not answer questions regarding the company’s ongoing operations. strategic reviewannounced in September following reports that it might consider a saleAnd also noted that Lightspeed was postponing its financial markets day, originally scheduled for November 20.
“In light of the company’s ongoing strategic review, Lightspeed will postpone its capital markets day originally scheduled for November 20,” the company said in a press release Thursday.
“The Company notes that no assurance can be given, at this time, as to the outcome of its strategic review and that no further announcements or comments regarding this matter will be made unless required by our regulatory obligations .”
A September report by Reuters said the company was working with a financial advisor to explore options, including a potential sale, with potential buyers. including private equity companies.
Since Lightspeed went public about five years ago, its stock values fell by more than a thirdnotes this report, attributing the decline in consumer spending and a decline in THE investor enthusiasm for FinTech stocks seen during the pandemic. Dasilva would have think if going public was the right option for his company.
Speaking to PYMNTS CEO Karen Webster in May, he said: “Profitability is a top priority for us. We cut costs across the business and captured operational efficiencies.
