This Canadian Tech IPO Is Traveling at Lightspeed

The Canadian technology sector has certainly lagged its U.S. counterpart in recent years, with most but a handful of the best Canadian tech companies struggling to keep up with growth expectations which have shot off like a rocket in recent years. Tech is the place to be for investors interested in growth at any cost, and in that regard, it is perhaps the "sexiest" sector to invest in at this point in time.

Of course, finding the "whales" in a sea of rather unappetizing seafood can be a difficult task, but a few shining examples stand out to the average investor who bought into the underlying tech of a few darling companies like Shopify Inc. (TSX:SHOP)(NYSE:SHOP) in recent years.

One company which has recently had its initial public offering (IPO) in March that would fall into this category is Montreal-based Lightspeed POS Inc.(TSX:LSPD). This cloud-based point-of-sale software company has relied on growth from small businesses in much the same way as Shopify, monetizing what appears to be a massive market in this space.

The company reported revenue which beat estimates by more than 4%, but expects revenues to come in 50% higher than last year, showing solid growth potential for investors seeking income. That said, the company's large operating loss means long term investors in a company like Lightspeed need to believe in the core growth model, and buy into the idea of future profitability as the company attempts to grow its revenues past the psychological $1 billion hurdle.

Invest wisely, my friends.