MONTREAL — Lightspeed Commerce Inc.’s share price dropped roughly 14 per cent on the heels of the company revealing its latest quarter brought a US$4.2 million loss.
The commerce technology company’s share price fell to $13.77 after it revealed the loss, which compared with a $32.7 million hit a year ago.
Despite reporting a loss, Lightspeed’s chief executive insisted Thursday that a recent pivot to more “upmarket” clients has put the company on the path to success.
Dax Dasilva told analysts there are “clear signals that the merchants we are winning are higher quality and more deeply attached to our software.”
Since Dasilva, Lightspeed’s founder, returned to the helm in 2024, the company has been working to refocus its client base around North American retail and European hospitality.
On the retail front, it recently attracted apparel company Bombas, the Hockey Hall of Fame in Toronto and the International Spy Museum in Washington, D.C.
Its newest hospitality clients include the McManus Pub Co. in the U.K., Domaine & Demeure’s luxury chateaus and restaurants and the Indie Group’s bars.
Many of the businesses are the kind of large, sophisticated clients Lightspeed wants to lure in because they tend to buy more software.
“Larger, more established customers drive higher software payments revenue, stay with us longer and are better positioned to benefit from Lightspeed’s more advanced feature sets,” Dasilva explained. “In general, they provide higher lifetime value.”
His remarks dovetailed with the release of Lightspeed’s results, which are calculated in U.S. dollars.
Its quarterly loss amounted to three cents US per diluted share for the quarter ended Sept. 30 compared with a loss of 24 cents US per diluted share a year earlier.
On an adjusted basis, it earned 17 cents US per share in its latest quarter compared with an adjusted profit of 16 cents US share a year ago.
Revenue totalled US$323.8 million, up from US$319 million in the same quarter last year.
Subscription revenue for the quarter reached US$97.8 million, up from US$93.5 million a year ago, while transaction-based revenue amounted to US$213.9 million, down from US$215.8 million in the same quarter last year.
Hardware and other revenue was US$12.2 million, up from US$9.7 million.
This report by The Canadian Press was first published Nov. 5, 2026.
By Tara Deschamps
