(Montreal) Quebec-based Lightspeed reports it suffered a net loss of US$48.7 million in the first quarter of 2024, or $0.32 per share, from a year earlier loss net of $100.8 million, or $0.68 per share.

The Montreal-based company, which promotes a commerce platform for businesses, posted an adjusted loss of US$2.2 million, or $0.01 per share, for the period ended June 30. compared to an adjusted net loss of US$17.6 million, or $0.12 per share the previous year.

During the same period, Lightspeed’s total revenue jumped 20% to US$209.1 million.

In the most recent fourth quarter, Lightspeed posted a loss of US$74.5 million compared to a loss of US$114.5 million in the same quarter a year earlier.

Company named in this dispatch: Lightspeed Commerce (TSX: LSPD)