Earlier this month, Lightspeed, the Montreal-based point-of-sale (POS) technology company, marked the one-year anniversary of its initial public offering amid a significant stock-market slump. The firm watched its share price on the Toronto Stock Exchange fall nearly two-thirds across the first half of March, as equities everywhere plummeted in the face of the COVID-19 pandemic and a global oil glut.
Lightspeed’s customers are primarily independent retailers and restaurants with physical locations. “That’s what’s getting hit the hardest right now—all these small businesses are being forced to close,” said Gus Papageorgiou, head of research at PI Financial. But he and other analysts say Lightspeed is likely to weather the outbreak thanks to its business model, good timing and strong balance sheet.