Subscription revenue increased 47% year-over-year to $73.6 million. Organic 5 growth in subscription and transaction-based revenues was 38% year-over-year. Subscription and transaction-based revenue grew 55% year-over-year to $165.1 million. Total revenue of $173.9 million was up 50% year-over-year due primarily to strong organic growth and $16.8 million in revenue from our acquisitions of NuORDER and Ecwid.
#LIGHTSPEED POS SOFTWARE#
"Gross Payment Volume 1 hit record levels in the quarter and software adoption amongst our customer locations increased, putting the Company in a strong position to meet our financial commitments and realize our goal of Adjusted EBITDA 2 break-even or better next fiscal year 3." "Our diversified business model continued to serve us well this quarter, with hospitality leading GTV growth " said Asha Bakshani, Chief Financial Officer of Lightspeed. Lightspeed also believes that the return to in-person shopping and dining can help to mitigate negative influences from deteriorating macro-economic conditions. Although macro-economic conditions have become more concerning in recent months, Lightspeed believes its available growth opportunities of increasing the number of Customer Locations 1, improving software adoption amongst these Customer Locations and expanding the amount of GTV 1 that is processed by the Company's payments solutions, provide the Company with multiple levers to continue to perform.
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