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Culture leader · Montréal · QC · Information Technology

Lightspeed

Montréal's commerce platform, "infused with culture, just as much as code"

Dax Dasilva started Lightspeed in Montréal in 2005 and returned as CEO to lead its next chapter. The company now runs point of sale and payments for about 150,000 customer locations in more than 100 countries. It is a top-100 employer that pairs no-cap vacation and 60 days of work-from-anywhere with a public-market balance sheet built through Québec-led venture rounds and a 2019 TSX IPO.

Website ↗TSX: LSPD ↗Be The Puck read ↓Montréal boardMontréal guide

01 · Culture

How they work

Our viewLightspeed's people policies are among the most generous Mediacorp found in 2026: no-limit vacation, up to 60 days a year working remotely from another country, parental top-ups to 80% of salary for 24 weeks for mothers and fathers alike, and a $15,000 IVF benefit. Employee-nominated "Make It" awards bring winners to a global summit in Montréal, and the founder still frames the company as culture first.

Recognition

In their words

“We are a company infused with culture, just as much as code.”
— Dax Dasilva, founder and CEO source ↗
“In 2005, I made a deliberate decision to start a company in Montréal, believing that the city is an excellent hub of culture and innovation”
— Dax Dasilva, founder and CEO source ↗
“we want every single one of Lightspeed’s employees to find meaning and purpose in the work they do.”
— Shirvani Mudaly, Chief People Officer (2024) source ↗
“Our values unite us and our differences inspire us.”
— Lightspeed careers page source ↗

In practice

  • Hybrid and work-from-anywhereA hybrid model plus up to 60 days a year working remotely from another country or elsewhere in Canada. (2026) source ↗
  • No-limit vacationA flexible vacation policy with no formal cap, planned individually with managers. (2026) source ↗
  • Equal parental top-upMothers, fathers and adoptive parents receive top-up to 80% of salary for 24 weeks, plus a phased-in return to work. (2026) source ↗
  • Fertility and mental-health benefits$15,000 lifetime IVF coverage and up to $1,200 a year for mental-health practitioners. (2026) source ↗
  • Broad-based equityAn equity incentive plan built to give its broader employee base a chance to share in wealth creation. (2024) source ↗
  • Peer recognitionGlobal employee-nominated "Make It" awards, with winners announced at a town hall and invited to the global summit in Montréal. (2026) source ↗

02 · Capabilities

What they do best

Our viewLightspeed gives retail, hospitality and golf businesses one platform for point of sale, eCommerce, embedded payments, inventory and supplier management, plus NuORDER's wholesale network. Payments are now its growth engine: transaction-based revenue grew 17% in fiscal 2026.

US$1,227.0 millionRevenue (FY2026)2026 source ↗
~150,000Customer locations2026 source ↗
2,806Full-time employees worldwide2026 source ↗
1,217Full-time employees in Canada2026 source ↗
100+Countries2026 source ↗

Unified POS and payments

Point of sale, eCommerce, embedded payments, inventory, reporting, staff and supplier management in one omnichannel platform. source ↗

Payments growth

FY2026 transaction-based revenue reached US$815.1 million, up 17% year over year. source ↗

Wholesale network

NuORDER by Lightspeed connects retailers with brands and suppliers through an exclusive wholesale network. source ↗

03 · Capital

Who backs them, and what they back

PublicRaised US$292M private capital before IPO · 2017 source ↗TSX / NYSE: LSPD · since 2019 source ↗

Our viewLightspeed is one of Québec's clearest institutional-capital success stories. La Caisse led its US$166-million Series D in 2017 with Investissement Québec and iNovia, a C$240-million TSX IPO followed in 2019, and a NYSE dual listing came later. It spent its public currency on a global acquisition spree, including Ecwid and NuORDER for US$925 million, and now returns capital through buybacks of up to US$400 million.

Funding

DateRoundAmountInvestors
2017-10Series DUS$166MCaisse de dépôt et placement du Québec (lead, US$136M), Investissement Québec, iNovia Capital, Silicon Valley Bank source ↗
2019-03IPO (TSX)C$240MPublic markets source ↗

Public programs

  • Investissement Québec (equity participant in Series D)Undisclosed share of US$166M round · 2017-10 source ↗

Capital they deploy

  • Acquisitions of Ecwid and NuORDERAgreed to buy Ecwid (~US$500M) and NuORDER (~US$425M), US$925M combined, to add eCommerce and wholesale. · 2021-06 source ↗
  • Share repurchaseThe board renewed a normal course issuer bid for up to ~10% of public float within a buyback authorization of up to US$400 million. · 2026-05 source ↗
What we could not confirm (3)
  • Montréal's Top Employers 2023: a Lightspeed news page is indexed but was not opened.
  • NYSE listing date (widely reported as September 2020) was not confirmed at a primary source.
  • Whether Shirvani Mudaly is still Chief People Officer in 2026.

Checked 2026-10-05

Market read · Be The Puck

What the plays and the numbers say

Lightspeed Commerce (LSPD) C$15.17 · +2.6% on the day · −7.7% in a year · close Oct 9, 2026

Where we think it’s heading

Leaning higher60 of 100 plays hold it; 10% above its 200-day average; analysts’ 12-month target +19% (7); crash exposure very high.

Business fundamentals

Fair 43/100
Value64Growth28Quality37
Momentum is leading; the numbers are middling.P/E: losing money; revenue growth +6%; profit margin −8%; debt to equity 0.01×; no dividend.Scores 0–100 against every name Be The Puck covers; higher is better. Shown beside the call, not folded into it.
  • 60 of the 100 plays hold LSPD right now.
  • The trend-following and volume plays mostly say in; the calendar plays mostly say out.
  • It closed 10% above its 200-day average and 20% below its 52-week high.
  • Crash exposure reads very high: it moves about 1.9× its index and fell about 3.0× as far as its index in past crashes.
  • Analysts' average 12-month target is C$18.02, 19% above the close (7 analysts).
Plays in60
Crash exposureVery high8 of 10 on the storm test
Mayer Multiple1.10×Price ÷ its 200-day average (+10%). Higher than on 72% of days since 2019. Above 2.4 is Mayer's overheated zone.

Full analysis on Be The Puck ↗Stock brief (members) ↗Test a theory on it ↗

Analysis by Be The Puck: published trading rules and public data, rebuilt after each close. Education, not financial advice.

LSPDLightspeed Commerce Inc.

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Why it matters in Montréal

Montréal-based retail and hospitality POS and payments platform.

Q1 FY2027 revenue $322.7M with 17% organic growth; divested Upserve in April 2026 to refocus on North American retail and European hospitality.

Source: Lightspeed press releases (CNW)

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