Even if it has thousands of restaurants and hotels among its customers, the company’s montreal-based Lightspeed held up well in march and April, which has led to a surge of nearly 38% on the stock Exchange, yesterday.
The action of the most important start-ups in quebec has ended with 34.18 $ on the Toronto stock Exchange, with the value of the company at almost $ 2.7 billion.
“The last three weeks [of march] have been slowed down by the pandemic,” was agreed to yesterday Jean-Paul Chauvet, president of Lightspeed, in a telephone interview with The Journal.
In April, the company has lost 1000 locations customers, but nevertheless ended the month with 75 to 500 addresses. At the present time, three-quarters of the customers of Lightspeed are in business and earn revenue.
Photo courtesyJean-Paul Chauvet
President of Lightspeed
“Even if the prospects are undoubtedly difficult in the current context, Lightspeed has managed to maintain its activities at a level superior to what most of us expected,” wrote analyst Richard Tse, of National Bank Financial, in a note.
The strong craze for electronic commerce has propelled the company. The sales volumes handled by the eCommerce solution for Lightspeed have grown by 400 % in April compared to February.
“We have a lot of requests from clients who want to sell online, who want to make the delivery, and it is very interesting to see that the transformation of consumer habits to force all our customers to adopt digital solutions “, noted Mr. Chauvet.
“Our reading of the market for the coming year, it is that there will be an acceleration of the adoption of our solutions, he added. [The crisis], it’s like an accelerator for three or four years. ”
There are still a lot of uncertainty. “The real question is, what will be the rate of failure among small-scale restaurateurs and small merchants ? No one knows, ” admitted Jean-Paul Chauvet.
Lightspeed, which has 1100 employees worldwide, including more than 600 employees in Montreal, has not made any redundancies during the crisis.
In fact, the company is currently in search of programmers.