Lightspeed Commerce Inc (LSPD) said Monday that it is undergoing a reorganization that will result in laying off approximately 200 employees.

The e-commerce software provider said the reorganization is intended to focus on strategic areas of the business and improve its "long-term growth opportunity."

Lightspeed said it expects that most of the restructuring charges will be incurred in Q3 of fiscal 2025.

The company also reiterated its fiscal 2025 outlook on revenue and adjusted EBITDA. Lightspeed continues to expect full-year revenue to grow at least 20% year-over-year with adjusted EBITDA of at least $50 million.