MONTREAL – Lightspeed Commerce Inc. says it has wrapped up its strategic review and will continue as a public company and its plan to focus on growth in retail in North America and hospitality in Europe.
The payments technology company launched the review, which prompted speculation of a possible sale of the firm, last year.
Lightspeed chair Patrick Pichette says the review unanimously concluded that executing on its full transformation plan as a public company offers the best available path to maximize value for the company and its shareholders.
The decision came as the Montreal-based company, which keeps its books in U.S. dollars, reported a loss of US$26.6 million or 17 cents US per share for the quarter ended Dec. 31. The result compared with a loss of US$40.2 million or 26 cents US per share a year earlier.
Revenue for what was the company’s third quarter totalled US$280.1 million, up from US$239.7 million a year ago.
On an adjusted basis, Lightspeed says it earned 12 cents US per share in its latest quarter compared with an adjusted profit of eight cents US per share a year earlier.
This report by The Canadian Press was first published Feb. 6, 2025.
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