BUZZ-Lightspeed Commerce slides after Q3 revenue miss, strategic review end

Shares of Canadian payments software firm Lightspeed Commerce LSPD.TO plunge as much as 18.3%; last down 15.2% at C$17.56

LSPD posts Q3 revenue of $280.1 mln, missing analysts' expectations of $285.6 mln - LSEG data

The miss was driven by LSPD's transaction revenue falling short of estimates, analysts say

Management also flags short-term headwinds on revenue, including a stronger U.S. dollar and job cuts as part of its restructuring

LSPD also announces it has completed its strategic review process and decided to remain a public company despite a "high level of interest and extensive discussions with several participants"

TD Cowen says the market was increasingly anticipating a lower probability of LSPD being taken private from the strategic review

LSPD plans on turning around its business by focusing on key growth areas such as North American retail and European hospitality businesses

LSPD shares slipped 21.2% in 2024