US EditionLightspeed abandons sale process, to buy back $400-million of stock instead
- Lightspeed Commerce Inc. Has decided to continue as a public company after completing its strategic review, focusing on growth in North America and Europe.
- The company reported a loss of US$26.6 million for the quarter ended December 31, compared to a loss of US$40.2 million a year earlier.
- Revenue for the third quarter was US$280.1 million, an increase from US$239.7 million a year ago.
- Chair Patrick Pichette stated that the review concluded that continuing as a public company is the best path to maximize value for shareholders.
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Lightspeed to continue as public company after review, reports US$26.6M Q3 loss
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.
Lightspeed to stay public company after strategic review
After conducting a strategic review of its business and operations, Montréal-based Lightspeed Commerce has announced plans to stay public and execute “a full transformation plan.” Lightspeed said its board, a committee of independent directors, and executive leadership unanimously reached this decision, noting that this strategy “presents the best available path to maximizing value” for both the firm and its shareholders. The point-of-sale and c…
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