Lightspeed sees FY23 revenue at low end of $730M-$740M, consensus $733.15M

Lightspeed expects consumer spending to remain under pressure in the near term and, given that transaction-based revenues are now over half of total revenues, this presents a headwind in the months ahead. Lightspeed will continue to prudently manage the business while macro uncertainty continues and will prioritize profitable growth. For the full year of fiscal 2023, Lightspeed now expects an Adjusted EBITDA loss of approximately ($37M), improved from previously-established outlook of approximately ($40M). The company now expects annual revenue to come in at the low end of the previously established outlook of $730M-$740M (or approximately $740M-$750M on a constant currency basis). The company remains committed to its goal of Adjusted EBITDA break even or better in fiscal 2024.