Canadian software provider Lightspeed Commerce (LSPD) saw its share price fall 13% in a single trading session after it posted a net loss of $74.5 million U.S. for its latest quarter.
The Montreal-based firm, which makes software for e-commerce companies, said its fiscal fourth quarter loss amounted to -$0.49 per share.
The latest loss was an improvement over a net loss of $114.5 million, or -$0.77 per share, in the same quarter a year earlier.
Lightspeed said that its revenue in the latest quarter ended March 31 rose 26% year-over-year to $184.2 million U.S.
The overall revenue increase came as Lightspeed’s subscription revenue improved to $76.2 million U.S. compared with $70.5 million U.S. a year ago.
Analysts who track Lightspeed’s progress had, on average, expected a loss of -$0.03 U.S. per share and $184.2 million U.S. in revenue, according to Refinitiv data.
The stock of Lightspeed Commerce is now down 39% over the last 12 months and trading at $17.50 per share.
