Lightspeed Commerce (NYSE:LSPD) shareholders approved all proposals at the company’s annual and special meeting, including the election of seven directors, the reappointment of PricewaterhouseCoopers LLP as auditor, an advisory vote on executive compensation, and an amendment to extend and renew the company’s omnibus equity incentive plan.
Executive Chair Manon Brouillette said the virtual meeting was held to reduce the company’s environmental footprint and provide shareholders with equal access to attend and participate. The company confirmed that quorum requirements were met, with at least two eligible voting persons collectively representing at least 25% of shares entitled to vote present virtually or by proxy.
Board and Governance Matters Approved
- Dale Murray
- Dax Dasilva
- Nathalie Gaveau
- Glen LeBlanc
- Sameer Samat
- Odilon Almeida
- Manon Brouillette
Shareholders also approved the reappointment of PricewaterhouseCoopers LLP as auditor and authorized the board to set the firm’s compensation. The company’s non-binding advisory resolution on executive compensation was approved. While the vote is not binding, Brouillette said the board and its Compensation, Nominating and Governance Committee will consider its outcome in future compensation decisions.
The final approved measure was an ordinary resolution concerning Lightspeed’s amended and restated omnibus plan. The resolution extends the plan’s term to the 10th anniversary of the meeting and renews approval for unallocated options, rights and other entitlements under the plan.
CEO Highlights Transformation Progress
Founder and Chief Executive Officer Dax Dasilva said fiscal 2026 marked the first year of Lightspeed’s multiyear transformation. The company is concentrating its growth efforts on North American retail customers and European hospitality customers, while emphasizing efficiency and support for existing customers in other areas of the business.
“Fiscal 2026 saw us expand our customer locations, deliver the best GTV growth in three years, and generate positive adjusted free cash flow for the entire year,” Dasilva said.
The company reported that customer locations in its growth engines rose 11% during fiscal 2026. Dasilva said Lightspeed has introduced a more targeted outbound sales approach and vertical-specific marketing programs, supported by new sales-representative training, playbooks, tools and processes. He also identified partnerships as a prospective driver of customer-location growth.
Lightspeed has also sought to shift its customer mix away from lower-value micro merchants and toward more complex small and medium-sized businesses, where it believes it has stronger product-market fit and customer lifetime value.
Financial and Operating Priorities
Dasilva identified three operating priorities: growing locations in the company’s growth engines, increasing software average revenue per user, and improving adjusted EBITDA and free cash flow.
For fiscal 2026, Lightspeed reported subscription revenue growth of 8% year over year, gross-profit-dollar growth of 17%, and adjusted EBITDA of C$72.5 million, up 35% from the prior year. The company generated C$18.2 million in positive adjusted free cash flow for the year.
The company intends to raise software adoption through product innovation, upselling, attracting higher-GTV customers and monetizing platforms including Lightspeed NuORDER. Dasilva also said Lightspeed created a centralized customer organization to improve onboarding, service, retention and expansion efforts.
Shortly after fiscal year-end, the company divested its non-core Upserve product line. Dasilva said the move simplified operations, improved Lightspeed’s structural gross-margin profile and freed capital for investment in the business and shareholder returns. Following the divestiture, the company’s growth engines represent approximately 75% of revenue, he said.
AI and Capital Returns
Dasilva said Lightspeed sees artificial intelligence as an opportunity to build on its data assets and help retail and hospitality customers address operational challenges. He cited AI applications in onboarding, inventory selection, online presence creation, reporting and business insights, and said the company’s AI releases are already in use.
Lightspeed also highlighted its share repurchases. Between April 2024 and March 2026, the company repurchased and canceled approximately 18.7 million shares using $220 million of capital, according to Dasilva. The board renewed the normal course issuer bid for fiscal 2027, permitting repurchases of up to 10% of the public float. In the first quarter of fiscal 2027, Lightspeed purchased an additional 7 million shares.
Dasilva said fiscal 2027, the second year of the transformation, will focus on executional rigor and predictable delivery. No shareholder questions were submitted during the meeting’s question-and-answer session.
About Lightspeed Commerce (NYSE:LSPD)
Lightspeed Commerce Inc is a Canadian technology company that develops cloud-based point-of-sale (POS) and e-commerce software for small and medium-sized businesses across the retail and hospitality sectors. Its integrated platform enables merchants to manage sales, inventory, customer relationships and analytics through a single interface. By combining in-store and online channels, Lightspeed helps businesses streamline operations and improve customer engagement in an increasingly omnichannel marketplace.
The company’s product suite includes POS terminals, payment processing services, inventory management tools, customer loyalty programs and data reporting dashboards.
