News Summary

Lightspeed Commerce, a Montréal-based company, has announced a strategic shift to a sales-led go-to-market approach aimed at enhancing its growth within the North American retail and EMEA hospitality sectors. This initiative, part of a broader transformation plan, focuses on direct sales over advertising, and involves a significant expansion of the sales team across these regions. The company plans to increase its sales force to over 150 representatives, targeting key verticals such as apparel, home and garden, and sports. The strategy is driven by AI and automation to optimize customer engagement. Lightspeed has also completed a $132 million USD share repurchase and aims to further invest in growth areas, projecting a compound annual growth rate of 15-18% in total gross profits over the next three fiscal years.