Lightspeed’s Net Loss Widens as Tech Slump Prompts Writedown
Jean-Paul Chauvet.
Photographer: Christinne Muschi/BloombergThis article is for subscribers only.
Lightspeed Commerce Inc., a Canadian payment-tech firm that reduced staff by 10% last month, posted a larger-than-expected $814.8 million loss after writing down the value of firms it acquired before the technology market slumped.
About one-third of the $748.7 million impairment charge in the fiscal third quarter came from the firm’s largest acquisitions — those of Ecwid and NuORDER — which it made in 2021, the Montreal-based company said.