Lightspeed announces 10% share repurchase program

“After successfully integrating our many acquisitions into our two flagship products and expanding adoption of our payments offering, Lightspeed is now entering a new phase, one focused on profitable growth to capture the opportunity in front of us,” said Lightspeed Founder and CEO Dax Dasilva. “This means making some hard decisions, like reducing spending in specific areas such as headcount, to allow for investments in others. As we navigate through this transition, we acknowledge the invaluable efforts of every team member who has played a role in our journey.” “To optimize our capital allocation, our Board of Directors has also authorized the repurchase of up to ten percent of our public float, the maximum allowable under TSX rules, representing ~$140 million based on recent closing prices on the NYSE,” said Asha Bakshani, CFO of Lightspeed. “As we continue to drive profitable growth and execute on our long-term strategic plan, this authorization gives us the opportunity to create value for our shareholders through share repurchases and reduce dilution from employee equity grants.”