Lightspeed to launch new flagship platform, Lightspeed Restaurant, to power Australian hospitality revival

Rhea-AI Summary

Lightspeed Commerce Inc. (NYSE: LSPD) has launched Lightspeed Restaurant in Australia, aiming to enhance the local hospitality sector. The platform is designed for restaurants, combining POS, contactless payments, and online ordering into one system. Recent data reveals substantial year-over-year revenue growth in Australian restaurants, bars, and cafes, with figures reaching up to 50.3%. General Manager Peter Dougherty highlighted the platform's role in enabling efficient operations amid ongoing economic challenges.

Positive

• Launch of Lightspeed Restaurant in Australia enhances its market presence.
• Integration of advanced features from local systems like Kounta improves operational efficiency.
• Significant year-over-year revenue growth for Australian restaurants using Lightspeed products.

Negative

• None.

MONTREAL, Sept. 6, 2022 /PRNewswire/ - Lightspeed Commerce Inc. (NYSE: LSPD) (TSX: LSPD), the one-stop commerce platform for merchants around the world to simplify, scale, and create exceptional customer experiences, has today announced the initial launch of Lightspeed Restaurant in the Australian market - a unified hospitality commerce and point-of-sale (POS) platform to power Australia's restaurant revival.

Unveiling at Fine Food Australia, and coming soon to Australian businesses Lightspeed Restaurant, an industry-leading cloud platform, combines an innovative POS, contactless integrated payments, online ordering, advanced inventory, industry leading analytics and more; enabling operators to run smarter, more efficient restaurants. The local launch of Lightspeed Restaurant integrates cutting edge technology to build a single product that incorporates the best features of Australian leading Kounta and the breadth and sophistication of Lightspeed's market leading capabilities, and comes as Australia's world-famous dining industry continues to defy economic pressure.

Data from a subset of Australian restaurants, cafes and bars using Lightspeed in July found that year-over-year revenue was up 50.3% in restaurants, 48.5% in bars, and 25.7% in cafes compared to the same month in 2021. Remarkably, July was the sixth successive month of year-over-year growth^*.

Peter Dougherty, General Manager of Hospitality, at Lightspeed, said: "Bringing Lightspeed Restaurant to an Australian market famed for the vibrancy of its hospitality sector is an exciting moment for Lightspeed. Restaurants have rapidly accelerated their digital transformation in recent years, and today merchants can't compromise when it comes to technology. Lightspeed Restaurant allows Australian restaurant owners to take control of seat level ordering, multiple service environments, complex printing setups, and more, all through a single commerce platform - providing the solution they need to meet and exceed the needs of their customers, empower their team and overcome the challenges of today."

Key features of Lightspeed Restaurant include:

• Advanced insights: Lightspeed Restaurant informs operators what turns customers into regulars, who their best wait staff are and why, and makes them feel like they're on the floor every day even across multiple locations.
• Comprehensive integrated inventory: Track and automate inventory without breaking the bank. Know exactly how much product was sold, how much is still on hand, and how much is needed from a supplier for the next order.
• Speed and automation for the front of the house: Optimised by years of user testing, Lightspeed Restaurant is easy to use and train on, key for hiring and retaining staff and running smoother shifts in busy environments.
• Innovative ordering and payments with Order Anywhere: Fully integrated with Lightspeed Restaurant, Order Anywhere provides contactless ordering and payments for dine-in, and commission-free ordering for takeout, with the flexibility to either pre-pay online or pay at pick up, while avoiding expensive third-party fees.
• Real-time data: Restaurant owners, chefs and managers receive a daily email detailing everything they need to know before doors open, and a shift prep email detailing reservations, VIP guests, and notes for the service ahead.

Bluebonnet Barbecue, Melbourne's iconic Texas-style BBQ venue, has been using Lightspeed Restaurant in the initial launch phase. Bluebonnet's Manager, Mikey Buchanan, said the platform gives the business a competitive advantage and the foundations to overcome challenges and provide better experiences for customers and employees alike.

"We've been looking for a platform like Lightspeed Restaurant for years. The access to real-time insights has given us a deeper, more accurate understanding of our business than we've ever had before. It's incredibly powerful and sophisticated, but also user-friendly, which is so important in a transient industry where staff come and go.

"Rather than using different systems for different business functions everything is on one system, driving operational efficiencies which benefit our team and, ultimately, our customers. We're passionate about our craft and our customers, and with Lightspeed Restaurant we spend less time working on administration and non-revenue generating tasks and more time delivering the food and experiences that bring people together."

The initial launch of Lightspeed Restaurant in Australia follows the recent launch of Lightspeed Payments, an integrated, contactless payments processor that gives hospitality and retail businesses the ability to process customer payments directly from their point-of-sale.

For more information, click here.

About Lightspeed

Powering the businesses that are the backbone of the global economy, and used by merchants around the world including Messina, Lion, Momofuku, Five Guys, and Vera Wang, 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 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
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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 profile on SEDAR at www.sedar.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.

*The anonymised data was collected from the monthly revenue figures and year over year growth of restaurateurs using Lightspeed restaurant products from January 2021 - July 2022.

Media Contacts:
USA:
Jennifer Fugel
Newsmaker Group
jfugel@newsmakergroup.com

Canada:
Victoria Baker
NKPR
victoriab@nkpr.net

Lightspeed Media Relations
media@lightspeedhq.com

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SOURCE Lightspeed Commerce Inc.

FAQ

What is Lightspeed Restaurant?

Lightspeed Restaurant is a unified point-of-sale (POS) platform launched by Lightspeed Commerce Inc. aimed at enhancing the hospitality sector in Australia.

When was Lightspeed Restaurant launched in Australia?

Lightspeed Restaurant was launched in Australia on September 6, 2022.

What revenue growth did Australian restaurants experience using Lightspeed?

In July 2022, Australian restaurants reported a year-over-year revenue growth of 50.3% using Lightspeed products.

What features does Lightspeed Restaurant offer?

Lightspeed Restaurant offers integrated payments, online ordering, advanced analytics, and real-time data for restaurant operators.

How can I find more information about Lightspeed Commerce Inc.?

More information can be found on their official website: lightspeedhq.com.