Lightspeed Commerce slides after Q3 revenue miss, strategic review end

** Shares of Canadian payments software firm Lightspeed Commerce LSPD plunge as much as 18.3%; last down 15.2% at C$17.56

** LSPD posts Q3 revenue of $280.1 mln, missing analysts' expectations of $285.6 mln - LSEG data

** The miss was driven by LSPD's transaction revenue falling short of estimates, analysts say

** Management also flags short-term headwinds on revenue, including a stronger U.S. dollar and job cuts as part of its restructuring

** LSPD also announces it has completed its strategic review process and decided to remain a public company despite a "high level of interest and extensive discussions with several participants"

** TD Cowen says the market was increasingly anticipating a lower probability of LSPD being taken private from the strategic review

** LSPD plans on turning around its business by focusing on key growth areas such as North American retail and European hospitality businesses

** LSPD shares slipped 21.2% in 2024