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Point-of-sale system maker Lightspeed Commerce Inc.’s transaction-based revenue jumped 33.5%, according to the company’s fiscal second quarter results ended Sept. 30. Meanwhile rival NCR Voyix Corp. posted $1.1 billion in net income in its third-quarter revenue, reversing a year-ago loss.
Montreal-based Lightspeed says its transaction-based revenue totaled $183.8 million in the quarter, a 33.5% increase from $137.7 million the year prior. Its subscription revenue increased to $85.5 million, up 5.6% from $81 million. Meanwhile, its hardware and other revenue decreased to $7.9 million, down 31.9% from $11.6 million a year ago.
Lightspeedreported revenue of $277.2 million for its September quarter, up 20% year-over-year, The company’s net loss for the quarter narrowed to $29.7 million from $42.5 million a year ago.
The results come amid Lightspeed’s search for strategic alternatives. As reported by Digital Transactions News in September, Lightspeed acknowledged it “is currently conducting, a strategic review of its business and operations with a view to realizing its full potential.”
In February, Lightspeed founder Dax Dasilva returned as interim chief executive. He stepped away in 2022 after having run the company since its 2005 founding.
In related news, point-of-sale system and commerce provider NCR Voyix Corp. reported third-quarter revenue of $711 million, a 12.1% decrease from $809 million in the corresponding 2023 quarter. Its net income rose to $1.1 billion, reversing a $128-million loss year-over-year.
In the quarter, NCR Voyix sold its digital-banking business for $2.45 billion, using a portion of the proceeds to pay down its debt.
Just as Lightspeed experienced slowing hardware sales in the quarter, so too has NCR Voyix. “While our third-quarter results continue to reflect the hardware declines in point-of-sale and self-checkout, the positive trends in our software and services businesses position us well to execute on our go-forward growth strategy,” David Wilkinson, NCR Voyix chief executive, said in a statement.
The company projects $765 million to $780 million in hardware revenue for all of 2024. In the third quarter it posted product revenue of $219 million, down 26% from $296 million in the 2023 third quarter. For the first nine months of 2024, NCR Voyix had $684 million in product sales, down 21.8% from $875 million for the same period in 2023.
NCR Voyix also named Darren Wilson as president of its international effort. Wilson’s experience includes executive roles at EVO Payments Inc., Worldpay UK, and Global Payments Inc.
