Lightspeed Commerce Inc (TSX:LSDP, NYSE:LSDP), a Montreal-based payments technology company, has confirmed it is conducting a strategic review of its business following media reports of a potential sale.
In a statement, the firm acknowledged that it is exploring various strategic alternatives to maximize its potential.
These discussions may include potential transactions, Lightspeed noted.
According to reports, the company is working with a financial adviser, and private equity firms are among potential buyers. However, talks are at an early stage, with no guarantee of a deal.
Since Lightspeed went public five years ago, its stock has lost over a third of its value, attributed to weak consumer spending and reduced enthusiasm for FinTech stocks.
Founder Dax Dasilva, who recently returned as CEO, has prioritized profitability by cutting costs and enhancing operational efficiencies.
In earlier comments, Dasilva expressed openness to the idea of going private, suggesting the company might achieve more outside the public market.
Shares of Lightspeed rose on Thursday morning, trading around 1.8% higher by midmorning.