Review of Lightspeed Commerce Inc.

JUL 17, 2025 - The company’s growth also slowed down while still generating negative free cash flow and profitability. In addition, valuation for Fintech companies declined meaningfully, making the share price today still much lower than its IPO price in 2019. The company has been acquisitive in the past, but we think the track record of M&A is quite poor, given a meaningful goodwill write-off LSPD recently reported in the most recent quarter. It has a strong balance sheet with almost a quarter of the company’s market capitalization in cash. We see potential for LSPD to be acquired by other large Fintech companies. That being said, that catalyst alone can’t be a worthwhile investment thesis for LSPD. To be conservative, we are downgrading our rating by one notch to a ‘C+‘.

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Shopify Inc. Class A Subordinate Voting Shares (SHOP $174.91)
- $174.91 P/E (TTM): 140.01X Cap: $236.59B
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iShares S&P/TSX Capped Information Technology Index ETF (XIT $67.43)
- $67.43 P/E (TTM): 54.87X Cap: $716M
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Lightspeed Commerce Inc. Subordinate Voting Shares (LSPD $12.76)
- $12.76 Cap: $1.79B
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BMO Covered Call Technology ETF (ZWT $56.15)
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Lumine Group Inc. (LMN $25.79)
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Q: I own no Tech. What would be your 5 best company and/or ETF choices listed in Canada. Thanks, great service.

Read Answer Asked by Curtis on February 27, 2026

Snap Inc. Class A (SNAP $4.89)
- $4.89 Cap: $8.66B
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Lightspeed Commerce Inc. Subordinate Voting Shares (LSPD $12.76)
- $12.76 Cap: $1.79B
- View LSPD Profile
- View Questions on LSPD
- View Reports on LSPD
Lightspeed Commerce Inc. Subordinate (LSPD $9.40)
- $9.40 Cap: $1.31B
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Q: Hi,
TS has sent out a notice of a class action settlement of 11 million, less around 3 million in legal fees, etc. You need to have invested in the shares between Mar 7, 2019 and Nov 3, 2021 and put in your claim by Mar 4th, 2026. I'm aware that often these claims are reduced to small amounts per client once all the dust settles, so I'm wondering if you've any idea how many potential claims could be expected based on the volume of shares sold at the time? Ditto for SNAP, which covers share holders from Feb 5, 2021 to Oct 21, 2021 who can claim by May 6, 2026. Any thoughts on either tickers are most welcome! Thank you for always having the answers we seek!
D

Read Answer Asked by Dawn on February 18, 2026

Lightspeed Commerce Inc. Subordinate Voting Shares (LSPD $12.76)
- $12.76 Cap: $1.79B
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Q: Today I received a letter from my broker TD regarding a proposed settlement by a class action suit for purchasers of Lightspeed (LPSD) shares between March 7th 2019 and November 3rd 2021. Since I did purchase 200 shares within that timeframe I am wondering whether it is worth completing the relevant forms? Do you have any estimate of the payment which I might receive if I submit the required information before the deadline of March 4th 2026?
many thanks for your great service.
Geoff

Read Answer Asked by Geoffrey on February 03, 2026