Lightspeed Commerce Inc. (LSPD) is a global provider of a unified commerce platform designed to empower small and medium-sized businesses (SMBs) across industries such as retail, hospitality, and golf. The company offers cloud-based software solutions, payment processing services, and hardware products to help businesses manage operations, engage with customers, and scale globally. Lightspeed operates in over 100 countries and is dual-listed on the Toronto Stock Exchange (TSX) and the New York Stock Exchange (NYSE) under the ticker symbol LSPD.
- Transaction-Based Revenue - Provides payment processing and related services to facilitate seamless transactions for SMBs.
- Subscription Revenue - Offers cloud-based software subscriptions that enable businesses to manage operations, engage with customers, and scale across multiple channels.
- Hardware and Other Revenue - Sells hardware products and provides additional services such as merchant cash advances and professional services.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Dax Dasilva ExecutiveBoard | Chief Executive Officer | Founder of Never Apart; Founder of Age of Union | Dax Dasilva is the Founder, Director, and Chief Executive Officer (CEO) of Lightspeed Commerce Inc., having originally founded the company in 2005. He served as CEO until February 2022, transitioned to Executive Chair, then reappointed as interim CEO in February 2024 before becoming permanent CEO on May 16, 2024. | View Report → |
Manon Brouillette ExecutiveBoard | Executive Chair of the Board of Directors | Chair of Hydro-Québec; Board Member at Beauty For All Industries; Strategic Partner at Inovia Capital | Manon Brouillette is the Executive Chair of the Board at LSPD, effective April 1, 2025. She was re-appointed as a board member on October 1, 2023 and brings significant leadership experience from her roles at Hydro‐Québec, Verizon, and Videotron. | |
Asha Hotchandani Bakshani Executive | Chief Financial Officer (CFO) | Asha Hotchandani Bakshani has been serving as the Chief Financial Officer of Lightspeed Commerce Inc. since May 23, 2022. Previously, she served as the Executive Vice President of Finance from 2019 to 2022 and as the Vice President of Finance from 2015 to 2019. | ||
Dan Micak Executive | Chief Legal Officer and Corporate Secretary | Dan Micak is the Chief Legal Officer and Corporate Secretary of Lightspeed Commerce Inc. since 2022. He joined Lightspeed in 2018 and has played a pivotal role in overseeing legal and corporate governance matters. | ||
Jean-David Saint-Martin Executive | President | Jean-David Saint-Martin is the current President of Lightspeed Commerce Inc. since October 21, 2022. He previously served as Chief Revenue and Customer Officer from 2019 to 2022, and before that, he was the CEO of Chronogolf Inc. from 2013 to 2019. | ||
John Shapiro Executive | Chief Product and Technology Officer | John Shapiro is the Chief Product and Technology Officer at Lightspeed Commerce Inc. since February 15, 2024, having previously served as Senior Vice President of Retail Technology from July 2023. | ||
Dale Murray Board | Director | Non-Executive Director at Xero Limited; Non-Executive Director at The Cranemere Group Ltd; Non-Executive Director at LendInvest plc; Non-Executive Director at Jupiter Fund Management plc | Dale Murray, aged 54 as of 2024, is a seasoned technology entrepreneur and board member who has served as a Director at LSPD since 2022 and as Chair of the Compensation, Nominating, and Governance Committee since Fiscal 2023. She has an extensive background in corporate governance with significant board roles at Xero Limited, Jupiter Fund Management plc, LendInvest plc, and The Cranemere Group Ltd. | |
Nathalie Gaveau Board | Director | Senior Advisor, BCG Technology Group (BCG X) since 2021; Non-executive Director, Coca-Cola EuroPacific Partners since 2019; Director, PortAventura World since 2022; Director, Sonepar since 2023 | Nathalie Gaveau has been a Director at Lightspeed since 2022 and brings extensive expertise in executive leadership, governance, risk management, innovation, and M&A. Previously, she has held active roles including a Senior Advisor position at BCG Technology Group and board memberships at Coca-Cola EuroPacific Partners, PortAventura World, and Sonepar. | |
Patrick Pichette Board | Interim Chair of the Board | General Partner, Inovia Capital | Patrick Pichette has served as Interim Chair of the Board at LSPD since 2018. He brings extensive expertise from previous executive roles including his tenure as CFO and Senior VP at Google and leadership positions at Bell Canada and Inovia Capital. | |
Paul McFeeters Board | Director | Paul McFeeters is an independent director at Lightspeed Commerce Inc. since 2018, currently serving as Chair of the Audit Committee and a member of the Risk Committee. Previously, he built an extensive career including serving as CFO at OpenText Corporation from June 2006 to September 2014. | ||
Rob Williams Board | Director | Management Consultant | Rob Williams has been a Director at LSPD since 2018 and currently serves as the Chair of the Risk Committee as well as a member of the Audit Committee, bringing over 25 years of leadership experience from companies such as Amazon and Best Buy. |
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Given that Lightspeed's software revenue grew 9% year-over-year , which you have indicated is a floor , what specific strategies are you implementing to accelerate this growth to double digits in fiscal 2026 , and what are the key risks that could prevent you from achieving this target?
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You've announced a substantial share repurchase program of up to $400 million ; can you elaborate on how this decision aligns with your overall capital allocation strategy, especially considering the investments needed for your transformation plan and potential opportunities for strategic acquisitions ?
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During the strategic review, you mentioned strong engagement and extensive discussions with several participants , yet you ultimately decided to continue as a public company ; can you provide more clarity on why the potential offers were not sufficient to pursue an alternative path, and how you plan to address any underlying concerns that may have been raised during that process?
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With the shift in strategic focus to retail in North America and hospitality in Europe , how do you plan to manage and optimize the remaining markets where you're not investing for growth , and what impact do you expect this to have on overall profitability and customer retention in those regions?
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Given the increasing competition in the retail POS market from players like Shopify and Clover introducing new offerings , how does Lightspeed's strategy of focusing on higher GTV customers in specific verticals protect you against competitive pressure, and what measures are you taking to ensure you maintain and grow your market share in light of these challenges?
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Ecwid Inc. | 2021 | Lightspeed Commerce’s acquisition of Ecwid Inc. was announced on June 7, 2021 and closed on October 1, 2021, with a total consideration of approximately $601.9 million (including cash, subordinate voting shares, and contingent compensation for employee retention) to enhance its eCommerce and omnichannel capabilities, notably integrating features like TikTok For Business Ads Manager. |
NuORDER, Inc. | 2021 | The acquisition of NuORDER, Inc. was completed on July 1, 2021, valued at about $384.8 million through a combination of cash, common shares, and additional shares as employee retention bonuses; it strategically bolstered Lightspeed’s global B2B commerce platform while generating significant goodwill and acquiring key intangible assets like customer relationships and technology. |
Vend Limited | 2021 | Lightspeed POS Inc.’s acquisition of Vend Limited was finalized on April 16, 2021, with a deal value of roughly $368.1 million using both cash and subordinate voting shares; the deal aimed to expand Lightspeed’s global retail footprint—especially in the Asia-Pacific region—by integrating Vend's technology and customer base. |
Recent press releases and 8-K filings for LSPD.
- Lightspeed Commerce Inc. announced significant new product advancements across its retail, hospitality, and golf solutions during its first fiscal quarter.
- In retail, innovations include NuORDER's "Order Trends," which has led to an approximate 10% increase in average order value for early adopters, and enhanced inventory tracking with Lightspeed Insights, resulting in a 25.4% higher GMROI for retailers using it.
- For hospitality, Lightspeed launched AI-powered Benchmarks and Trends in Europe and upgraded Lightspeed Tableside with a new Mobile Tap device for faster service in the UK, Netherlands, and Belgium.
- In golf, Lightspeed partnered with Whoosh as its Preferred Membership Management Partner, integrating its cloud-based point-of-sale, payments, and membership management technology.
- Lightspeed Commerce Inc. will hold its annual meeting of shareholders virtually on July 31, 2025, where shareholders will vote on the election of 7 directors, the appointment of PricewaterhouseCoopers LLP as auditors, and an advisory vote on executive compensation. As of June 25, 2025, there were 137,751,637 subordinate voting shares issued and outstanding.
- For Fiscal 2025, Lightspeed achieved total revenue of $1,076.8 million, crossing the $1 billion annual revenue threshold for the first time. The company also improved its Adjusted EBITDA to $53.69 million in Fiscal 2025 from $1.265 million in Fiscal 2024.
- Short-term incentive compensation payouts for Fiscal 2025 were approximately 94.55% of target eligibility for Named Executive Officers (excluding the CEO) and 99.55% for the CEO. CEO Dax Dasilva's base salary increased to $500,000 as of February 15, 2025, after voluntarily assuming a C$1 salary for his first year in the role.
- The following table provides key financial metrics for Lightspeed Commerce Inc. for the fiscal years ended March 31, 2025, and March 31, 2024:
| Metric | FY 2024 | FY 2025 |
|---|---|---|
| Revenue ($USD Millions) | N/A | $1,076.8 |
| Net Loss ($USD Thousands) | ($163,964) | ($667,196) |
| Adjusted EBITDA ($USD Thousands) | $1,265 | $53,687 |
| Cash Flows Used in Operating Activities ($USD Thousands) | ($97,667) | ($32,762) |
| Adjusted Free Cash Flow ($USD Thousands) | ($64,505) | ($11,166) |
- Lightspeed Commerce reached an agreement in principle to settle the proposed Quebec securities class action, fully resolving and discharging all claims without any admission of liability, pending Superior Court approval .
- The settlement amount is approximately $8.09 million USD (C$11 million), with conversion based on the Bank of Canada rate on June 13, 2025 .
- The settlement follows the dismissal of a parallel U.S. securities class action, where the court found no legal basis for the allegations .
- CEO Dax Dasilva noted that the resolution will enable Lightspeed to focus on strategic growth and long-term profitability .
- Lightspeed Commerce Inc. announced its upcoming Fiscal Fourth Quarter and Full Year 2025 Financial Results Conference Call scheduled for May 22, 2025 at 8:00 am ET, with results to be released before the market open.
- The document, filed on April 10, 2025, is a Form 6-K report and includes key details such as the company's signatory, Chief Legal Officer Dan Micak.
- Management emphasized a strategic pivot toward sustainable, profitable growth, focusing on transforming operations and expanding its core products in retail and hospitality.
- The call detailed targeted investments in North America Retail and EMEA Hospitality as key growth engines, backed by robust product innovation including enhanced software, integrated payments, and advanced inventory management.
- Financial leaders highlighted strong performance improvements with a multi-year revenue CAGR, margin enhancements, and an ongoing focus on efficiency as part of the transformation.
- The discussion also included updates on capital allocation, with progress on an expanded share buyback program and disciplined investment strategy to support future growth.
- Lightspeed Commerce presented its three-year financial outlook, targeting a consolidated gross profit CAGR of 15-18% and reaching approximately $700 million in gross profit by Fiscal 2028, with Adjusted EBITDA expected to reach around 20% of gross profit and Free Cash Flow of about $100 million by then.
- The company is focusing on its primary growth engines—retail in North America and hospitality in Europe—to drive a net Customer Locations CAGR of 10-15% over the period, outlining targeted investments in sales, marketing, and product development.
- At its Capital Markets Day on March 26, 2025 at the NYSE, Lightspeed also detailed its ongoing share repurchase strategies, having completed repurchases of over $130 million and authorizing an additional repurchase of up to $300 million.
- Lightspeed presented its three-year strategy targeting growth in retail (North America) and hospitality (Europe) with an anticipated consolidated gross profit CAGR of ~15-18% and a target of reaching ~$700 million by Fiscal 2028.
- The strategic outlook also forecasts Adjusted EBITDA to reach approximately 20% of gross profit and Adjusted Free Cash Flow to hit around $100 million by Fiscal 2028, underscoring a focus on profitable growth.
- The announcement highlights completed share repurchases exceeding $130 million in Fiscal 2025, with an additional authorization for up to $300 million, supporting the company’s capital return efforts.