MONTREAL — In February, Lightspeed’s longtime president, JP Chauvet, replaced founder Dax Dasilva as CEO following a difficult period for the company. After a short-seller report in the fall prompted a brutal selloff, its stock has fallen from a high of more than $158 in September to roughly $25, as of May 6. Shares in the Montreal-based point-of-sale maker have continued to suffer, as investors weigh concerns of rising interest rates and surging inflation—especially hurting unprofitable companies like Lightspeed.
Lightspeed is set to report earnings for its last fiscal year on May 19, and investors will be watching for signs that the company can demonstrate a path to profitability. In one of his first interviews since taking on the top job, Chauvet discusses Lightspeed’s plan for navigating economic uncertainty, the company’s leadership changes and its efforts to divest from Russia while maintaining operations in the region. (It brought on employees in the country last year after buying Ecwid, an e-commerce company with a significant presence in Eastern Europe, for about US$500 million.)