The Montreal payments company significantly narrowed its net loss compared to the US$575.9 million it posted in the same period last year, but not enough to match analyst expectations, according to data from S&P Global Market Intelligence. (The Logic)

Talking point: Lightspeed has been cutting costs in an effort to restore its share price, which has underperformed since it went public in 2019. The company has laid off hundreds of employees and considered a take-private sale. CEO Dax Dasilva called the transformation efforts “a resounding success,” citing growth in transaction volume and the number of merchant locations the company serves. Lightspeed’s stock, however, is down more than 23 per cent from a year ago. The company took a US$556-million goodwill writedown in the fourth quarter last year because its net assets exceeded its market value. Lightspeed’s revenue was US$290.8 million, up 15 per cent from last year.