We have published an update on Lightspeed post their fiscal Q3 results and Q4 guidance.
- Disappointing Fiscal Q3 2020 Results and Q4 2020 Guidance
- Misleading statements surrounding Growth continue
- Increasingly expensive and unprofitable acquisitions with little synergies and no path to improving margins
- Insider selling and treasury shares issuance are increasing the market float at the wrong time
- Reasons for the removal of Cash Flows from Operations guidance for the 2nd time is questionable
- Updated LTV vs. GC metrics (adjusting for the Gastrofix acquisition)
- Slowing Organic Growth will cause investors to push towards Profitability, yet consistent 10% EBITDA margins appear unachievable for the foreseeable future
- Updated Valuation and our financials
- Other issues are covered and our work is shown
