The Montreal-based point-of-sale technology company reported US$57.6 million in revenue during its fiscal third quarter, up 79 per cent year over year; discounting the recent acquisitions of ShopKeep and Upserve, it brought in US$49.3 million, an increase of almost 53 per cent. Lightspeed added 18,000 net new customer locations, plus about 31,000 from the two deals. (The Logic)

Talking point: The firm’s growth has come from both onboarding new customers and selling more tools to existing ones. About 15 per cent of U.S. and 12 per cent of Canadian retail users’ gross transaction volume—a measure of sales made using its technology—flowed through Lightspeed Payments, a processing service for which it earns a fee. The company’s stock closed down 2.40 per cent on Thursday, despite beating analysts’ consensus earnings estimates and projecting revenues of up to US$70 million for the fiscal fourth quarter. “We see reopening of key markets in quarters ahead as a potential catalyst for accelerated growth,” Eight Capital analyst Suthan Sukumar wrote in an investor note on Thursday.