"When I took the company public in 2019, our revenue was
"It's my job to build confidence with investors, to show them ... the model is something that you can believe in."
Dasilva was named interim CEO Thursday, replacing JP Chauvet, who the
Asked how long his tenure as CEO might be this time, Dasilva said, "That's up to the board ... I guess we'll see how I do."
Chauvet joined
Dasilva said Chauvet is "like a brother."
"We all agreed, JP, the board, myself, that new leadership is needed for this stage and I'm excited to be back for this stage," Dasilva said.
Much of Chauvet's tenure was spent integrating a wave of businesses
Last November, it reached positive adjusted earnings before interest, taxes, depreciation and amortization for the first time.
Many companies use adjusted EBITDA and other adjusted metrics to omit one-time items or account for seasonal or volatile changes. However, it is not a metric accepted under international accounting standards because there is no uniform list of items included in the figure.
Dasilva is "proud" of the adjusted EBITDA, but acknowledged there is still more work to be done.
"The priority is profitability," he said. "We are a growth company, but profitability is the core of our focus."
As part of that goal, Dasilva plans to put less importance on activities like large mergers and acquisitions and the "growth at all costs" ethos that technology companies often operate around.
Analyst
The leadership change would not single-handedly reverse the company's stock price misfortune, Chan said in a Thursday note to investors.
"While we believe the shake-up could act as a catalyst for the stock, we believe the company needs to demonstrate clear and consistent execution before sentiment could improve," he said.
With Dasilva's tenure "open-ended" and the company "in no rush to find a successor," Chan added
Many tech companies are weathering this period by streamlining operations, cutting costs, laying off workers and reorganizing executive ranks.
Dasilva said he was aware of the challenges the economic climate poses, but confident
"This is also a moment where companies can rise to the occasion of proving to investors that this is where you need to park your money," he said.
In addition to Dasilva returning,
The company also said lead independent director
This report by The Canadian Press was first published
Companies in this story: (TSX:LSPD)
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