Lightspeed joins US Foods® CHECK® Business Tools Program Line-up to Drive Industry Innovation in Restaurant Operations

Rhea-AI Summary

Lightspeed Commerce Inc. (NYSE: LSPD) (TSX: LSPD) has announced a new collaboration with US Foods Holding Corp. (NYSE: USFD), integrating Lightspeed Restaurant technology into US Foods' CHECK Business Tools program. This partnership will make Lightspeed's advanced POS solutions available to thousands of restaurants and foodservice operators across the United States.

Key benefits for US Foods customers include exclusive offers on Lightspeed POS hardware, advanced insights to boost sales and improve customer service, and multi-location management capabilities. The collaboration aims to help restaurant operators streamline operations, increase profitability, and enhance customer experiences.

This partnership represents a significant milestone for Lightspeed, potentially expanding its reach in the U.S. restaurant industry and setting a new standard for dining technology solutions.

Positive

• Collaboration with US Foods expands Lightspeed's market reach to thousands of restaurants and foodservice operators
• Integration into US Foods' CHECK Business Tools program enhances Lightspeed's visibility and adoption
• Exclusive hardware offers for US Foods customers may drive increased sales of Lightspeed POS systems
• Partnership with a major foodservice distributor strengthens Lightspeed's position in the hospitality industry

Negative

• None.

Market Research Analyst

This partnership between Lightspeed and US Foods is a strategic move that could significantly expand Lightspeed's market reach. With access to US Foods' network of 250,000 restaurants and foodservice operators, Lightspeed has the potential to substantially increase its user base. However, the impact on immediate revenue is likely to be gradual.

The collaboration aligns with the growing trend of digital transformation in the restaurant industry. By offering advanced POS solutions through US Foods' CHECK Business Tools program, Lightspeed is positioning itself as a key player in this transformation. This could lead to increased market share in the competitive restaurant technology sector.

While the partnership is promising, investors should note that the success will depend on adoption rates among US Foods' customers and the effectiveness of the integration between the two companies' offerings. The long-term impact on Lightspeed's financials will be clearer in future quarterly reports.

Tech Expert

Lightspeed's integration into US Foods' CHECK Business Tools program represents a significant technological advancement for the restaurant industry. The offering includes multi-location management and advanced insights, which are important for modern restaurant operations.

The cloud-based nature of Lightspeed's platform allows for scalability and real-time updates, which is essential in the fast-paced food service environment. The ability to customize menus for different service types (delivery, dine-in) on specific devices showcases the flexibility of the system.

However, the success of this tech integration will heavily depend on the user experience and the learning curve for restaurant staff. If the system proves to be intuitive and efficient, it could lead to widespread adoption and potentially set a new industry standard for restaurant management technology.

Helping elevate business success across US Foods' network of foodservice operators

MONTREAL, Aug. 9, 2024 /PRNewswire/ - Lightspeed Commerce Inc. (NYSE: LSPD) (TSX: LSPD) ("Lightspeed" or the "Company"), the one-stop commerce platform empowering merchants to provide the best omnichannel experiences, today announced a new collaboration with US Foods Holding Corp. (NYSE: USFD), one of the largest foodservice distributors in the United States.

Through this collaboration, Lightspeed Restaurant technology will be available throughout US Foods' CHECK Business Tools program, available to thousands of restaurants and food service operators across the United States. This dynamic collaboration will empower ambitious entrepreneurs to accelerate growth, provide exceptional customer experiences, and become go-to destinations in their space.

"Partnering with US Foods to bring our advanced POS solutions to their CHECK Business Tools program marks a significant milestone," said Adoniram Sides, SVP of Hospitality at Lightspeed. "Through this collaboration, we aim to help restaurant operators streamline their operations, boost profitability, and create memorable customer experiences. We're setting a new standard in the dining industry by delivering unmatched value and support to restaurateurs."

US Foods customers will gain access to multiple benefits within the Lightspeed Restaurant platform:

• Exclusive US Foods Customer Offers on Lightspeed POS Hardware: Making state-of-the-art technology upgrades accessible and affordable.
• Advanced Insights: Boost sales and elevate customer service with powerful menu insights, guest profiles, and server reviews. Track customer habits and menu performance to spotlight top dishes.
• Multi-Location Management: Effortlessly oversee multiple locations with shared customer data and customizable menus for delivery, dine-in, or specific devices.

Lightspeed Restaurant POS systems and Lightspeed Payments will be leveraged through the US Foods CHECK Business Tools program. The CHECK Business Tools program provides restaurateurs with the tools they need to drive increased traffic, simplify their staffing and modernize their restaurant operations – ultimately helping them make more money and unlock their full potential. With Lightspeed as a premier partner, restaurateurs are better equipped with industry-leading tools to excel and stand out in a competitive market.

"We are excited to welcome Lightspeed as a new provider in our CHECK Business Tools Program," said Adam Stinn, Director of Business Solutions at US Foods. "Our goal is to offer our customers reliable technology providers, who bring meaningful solutions and impactful product innovations to help their businesses succeed. We believe Lightspeed has a lot to offer, and are looking forward to this new collaboration."

Dive into the transformative features of Lightspeed Restaurant on our website.

About Lightspeed

Powering the businesses that are the backbone of the global economy, Lightspeed's one-stop commerce platform helps merchants innovate to simplify, scale and provide exceptional customer experiences. Our cloud commerce solution transforms and unifies online and physical operations, multichannel sales, expansion to new locations, global payments, financial solutions and connection to supplier networks.

Founded in Montréal, Canada in 2005, Lightspeed is dual-listed on the New York Stock Exchange and Toronto Stock Exchange (NYSE: LSPD) (TSX: LSPD). With teams across North America, Europe and Asia Pacific, the Company serves retail, hospitality and golf businesses in over 100 countries.

For more information, see www.lightspeedhq.com.

Follow us on social media: LinkedIn, Facebook, Instagram, YouTube, and X (formerly Twitter).

About US Foods

With a promise to help its customers Make It, US Foods is one of America's great food companies and a leading foodservice distributor, partnering with approximately 250,000 restaurants and foodservice operators to help their businesses succeed. With more than 70 broadline locations and approximately 90 cash and carry stores, US Foods and its 30,000 associates provides its customers with a broad and innovative food offering and a comprehensive suite of e-commerce, technology and business solutions. US Foods is headquartered in Rosemont, Ill.

Visit www.usfoods.com to learn more.

Forward-Looking Statements

This news release may include forward-looking information and forward-looking statements within the meaning of applicable securities laws ("forward-looking statements"), including information regarding Lightspeed's product offerings and planned product roadmap. Forward-looking statements are statements that are predictive in nature, depend upon or refer to future events or conditions and are identified by words such as "will", "expects", "anticipates", "intends", "plans", "believes", "estimates" or similar expressions concerning matters that are not historical facts. Such statements are based on current expectations of Lightspeed's management and inherently involve numerous risks and uncertainties, known and unknown, including economic factors. A number of risks, uncertainties and other factors may cause actual results to differ materially from the forward-looking statements contained in this news release, including, among other factors, those risk factors identified in our most recent Management's Discussion and Analysis of Financial Condition and Results of Operations, under "Risk Factors" in our most recent Annual Information Form, and in our other filings with the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission, all of which are available under our profiles on SEDAR+ at www.sedarplus.com and on EDGAR at www.sec.gov. Readers are cautioned to consider these and other factors carefully when making decisions with respect to Lightspeed's subordinate voting shares and not to place undue reliance on forward-looking statements. Forward-looking statements contained in this news release are not guarantees of future performance and, while forward-looking statements are based on certain assumptions that Lightspeed considers reasonable, actual events and results could differ materially from those expressed or implied by forward-looking statements made by Lightspeed. Except as may be expressly required by applicable law, Lightspeed does not undertake any obligation to update publicly or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

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SOURCE Lightspeed Commerce Inc.

FAQ

What is the new collaboration between Lightspeed (LSPD) and US Foods?

Lightspeed (LSPD) has partnered with US Foods to integrate its Restaurant technology into US Foods' CHECK Business Tools program, making Lightspeed's POS solutions available to thousands of restaurants and foodservice operators across the United States.

What benefits will US Foods customers receive from Lightspeed's (LSPD) POS system?

US Foods customers will receive exclusive offers on Lightspeed POS hardware, access to advanced insights for boosting sales and improving customer service, and multi-location management capabilities to oversee multiple restaurant locations efficiently.

How will the partnership with US Foods impact Lightspeed's (LSPD) market presence?

The partnership is expected to significantly expand Lightspeed's reach in the U.S. restaurant industry, potentially increasing its customer base and setting a new standard for dining technology solutions.

When was the collaboration between Lightspeed (LSPD) and US Foods announced?

The collaboration between Lightspeed (LSPD) and US Foods was announced on August 9, 2024.