Lightspeed POS $LSPD.CA and Shopify $SHOP don't appear to be overvalued. Their revenue growth dictates higher multiples. As revenue continues to grow, Forward EV/R will continue to decline (which is bullish). See calculation (NOTE: All Lightspeed POS filings are in USD $, so last trading price was converted from CAD to USD in order to make proper comparison. Other sources report inaccurate [much higher] EV/R multiple because they use current trading price in CAD $ in their calculation with USD $ financial data.)