Lightspeed Reappoints Founder Dax Dasilva as CEO and Reports Q4 Revenue Increase 25%

MONTREAL – Lightspeed Commerce Inc. announces that founder Dax Dasilva has been reappointed as CEO and the term “interim” has been removed from the title.

Dasilva returned to the top on an interim basis at the beginning of the year, replacing JP Chauvet.

Chauvet joined Lightspeed as chief revenue officer in October 2012 and replaced Dasilva in the top role in February 2022, when the founder was named executive chairman.

The move came as the Montreal-based payments technology company, which keeps its books in U.S. dollars, reported a loss of $32.5 million, or 21 cents per share, for the quarter ended March 31. The result compared with a loss of $74.5 million, or 49 cents per share, in the year-earlier quarter.

Quarterly revenue was $230.2 million, up from $184.2 million a year ago.

On an adjusted basis, Lightspeed said it earned $8.5 million, or six cents per share, in its most recent quarter, compared with an adjusted loss of $400,000, or zero cents per share, in the year-ago quarter.

This report by The Canadian Press was first published May 16, 2024.

Companies in this story: (TSX:LSPD)

The Canadian Press