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Lightspeed Commerce Inc. early Thursday reported revenue of $312.3 million for its December quarter, an 11% rise from the same period last year, though its net loss widened to $33.6 million from $26.6 million a year ago.
The Montreal-based processor, which counts among its markets the highly competitive restaurant sector, cited a busy quarter in which it launched conversational assistants based on AI, tap to pay on Android, new terminals, an introduction in Europe of mobile tap to pay, and a reservation service for restaurants. Such moves are “driving momentum across our growth engines,” said Dax Dasilva, founder and chief executive, in a statemen.
In AI, the company launched its own technology last month with integrations into its retail, restaurant, and NuOrder services.
Gross transaction volume and merchant locations are “growing at an accelerated pace,” Dasilva added. GTV grew 8% in the quarter, reaching $25.3 billion, with “a growing portion” stemming from its own technology, Lightspeed said.
Founded in 2005, Lightspeed went public in March 2019.
