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MONTREAL - Lightspeed Commerce Inc. (NYSE: LSPD) (TSX: LSPD), a commerce platform that provides omnichannel experiences for merchants and generates over $1 billion in annual revenue with a robust current ratio of 6.1, has announced the appointment of Manon Brouillette as Executive Chair of its Board of Directors effective April 1, 2025. According to InvestingPro data, the company maintains strong financial health with more cash than debt on its balance sheet.
Brouillette, who rejoined Lightspeed’s board in October 2023, will assume her new role at the start of the company’s fiscal year, bringing her extensive experience in business growth and transformation. She is currently the Chair of Hydro-Québec’s board and has served on the boards of Sonder, Altice USA, and SFR (Altice France). Her executive experience includes roles as CEO of Verizon Consumer Group and President and CEO of Videotron.
Dax Dasilva, Founder and CEO of Lightspeed, expressed confidence in Brouillette’s ability to guide the company through its strategic transformation, highlighting her proven track record in scaling growth companies.
Patrick Pichette, who has been serving as interim Chair, will continue as a Director on the Board. Additionally, Dale Murray has been appointed as the Board’s Lead Independent Director.
The announcement precedes Lightspeed’s Capital Markets Day on March 26, 2025, at the New York Stock Exchange, where the management team will update on the company’s transformation plan and long-term financial outlook. The timing is crucial as the stock trades near its 52-week low of $11.01, having declined 22.65% year-to-date. InvestingPro analysis shows six analysts have revised their earnings upwards for the upcoming period, with expectations of profitability this year.
Founded in 2005, Lightspeed is headquartered in Montreal and serves retail, hospitality, and golf businesses in over 100 countries. The company is dual-listed on the New York Stock Exchange and Toronto Stock Exchange. InvestingPro’s Fair Value analysis indicates the stock is currently undervalued, with detailed insights available in the comprehensive Pro Research Report, which provides deep-dive analysis of this and 1,400+ other US equities.
This news release contains forward-looking statements regarding the company’s strategic plans and board composition. These statements are based on current expectations and involve risks and uncertainties that could cause actual results to differ materially.
The information in this article is based on a press release statement from Lightspeed Commerce Inc.
In other recent news, Lightspeed Commerce Inc. reported a 17% year-over-year increase in total revenue, reaching $280.1 million, alongside a positive adjusted EBITDA of $16.6 million, surpassing its outlook of approximately $14 million. The company also announced a $400 million share repurchase program, reflecting confidence in its future prospects. In a legal development, Lightspeed secured a dismissal of a securities class action lawsuit in the United States, which was based on claims deemed without merit by the court.
Analyst actions have brought mixed reviews for Lightspeed. BofA Securities resumed coverage with a Buy rating and a $20 price target, citing potential for profitable growth as the company shifts its business strategy. Conversely, Barclays downgraded the stock from Overweight to Equal Weight, lowering the price target to $18 due to anticipated market challenges in 2025.
Additionally, an RBC analyst highlighted a positive outlook for technology investments among American small and medium-sized businesses, which could benefit companies like Lightspeed. The company is refocusing efforts on generating adjusted EBITDA and has been executing this strategy for several months, aiming to drive share gains in key markets. These developments come as Lightspeed continues its transformation plan, with a Capital Markets Day scheduled to discuss its operational and financial strategies.
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