Shares of Lightspeed POS (LSPD -1.29%) rose quickly today after the company released better-than-expected results for the fourth quarter.
The tech stock was up by 14.1% as of 11:22 a.m. EDT.
Lightspeed reported sales of $82.4 million for the quarter, a massive increase of 127% from the year-ago quarter. Investors were likely excited to see such a significant jump in sales, but they were also happy that Lightspeed's adjusted loss per share of $0.09 beat analysts' consensus estimate of a loss of $0.10 per share for the quarter.
Lightspeed's management said in a press release, "despite the ongoing challenges presented by the global COVID-19 pandemic, Lightspeed delivered strong results in the quarter." It also said it made three "landmark" acquisitions in fiscal 2021.
A few other highlights include the company's recurring subscription and transaction-based revenue skyrocketing 137% in the quarter and Lightspeed's average revenue per user (ARPU) jumping 48% for the full fiscal year.
Lightspeed's management issued guidance for the first quarter and said that it estimates revenue will be in the range of $90 million to $94 million, which would be a huge 154% increase from the year-ago quarter, at the midpoint.
With Lightspeed beating Wall Street's consensus earnings estimate in the fourth quarter and the company expecting strong revenue results in the upcoming quarter it's no wonder why investors are pushing up Lightspeed's share price today.