- Lightspeed Commerce (TSX:LSPD) announces a reorganization aimed at optimizing operations for profitable growth
- The company reaffirms its fiscal 2025 financial outlook for revenue and adjusted EBITDA
- The ongoing strategic review process remains unaffected by the reorganization
Lightspeed Commerce (TSX:LSPD), a leading commerce platform for merchants, announced today a reorganization initiative aimed at bolstering its profitable growth strategy.
The restructuring is designed to streamline operations and redeploy savings into areas with the greatest growth potential, aligning with the company’s mission to maximize its long-term market opportunity.
The move will impact approximately 200 employees across various departments. Lightspeed expects most of the associated restructuring costs to be incurred during the third quarter of fiscal 2025. The savings generated from this initiative will be reinvested in key segments of the business, particularly in North American retail and EMEA hospitality, where the company sees the strongest product-market fit.
CEO Dax Dasilva reaffirms commitment to growth
In a statement, Lightspeed founder and chief executive officer (CEO) Dax Dasilva highlighted the company’s commitment to achieving focused growth while delivering value to its customers.
“Since my return as CEO, our goal has been to sharpen Lightspeed’s focus on areas where we have the strongest competitive positioning,” Dasilva said in a statement. “This reorganization is a pivotal step in our journey towards simplifying operations, enhancing customer experiences and realizing our true potential as a company.”
Dasilva also emphasized that the company remains committed to maintaining exceptional services for its clients across all sectors, even as it strategically narrows its focus to areas of greatest opportunity.
Strategic review process ongoing
Lightspeed noted that the reorganization does not alter its ongoing strategic review process, which was previously announced. The company stated that this review remains a separate endeavor aimed at exploring alternatives to maximize shareholder value. No assurances have been made regarding the outcome of this process.
Financial outlook reaffirmed
Despite the restructuring, Lightspeed reaffirmed its fiscal 2025 financial guidance for revenue and adjusted EBITDA. This reiteration underscores the company’s confidence in its long-term profitability goals.
About Lightspeed Commerce
Founded in Montréal in 2005, Lightspeed Commerce provides a one-stop commerce platform that helps businesses deliver seamless omnichannel experiences. The company serves retail, hospitality and golf businesses in over 100 countries, offering innovative solutions for physical and online operations, payments, financial management and supplier network integration.
Lightspeed Commerce (TSX:LSPD) is down by 6.78 per cent trading at C$24.47 per share as of 2:21 pm ET. The stock has added 8.37 per cent year-over-year but has given back 27.30 per cent since 2019.
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(Top photo of Lightspeed Commerce product offerings: Lightspeed Commerce)
