Welcome to our dedicated page for Lightspeed Commerce news (Ticker: LSPD), a resource for investors and traders seeking the latest updates and insights on Lightspeed Commerce stock.
Lightspeed Commerce Inc. (NYSE: LSPD, TSX: LSPD) is a leading provider of an omni-channel commerce-enabling SaaS platform that helps businesses streamline operations and enhance customer experiences. Founded in 2005 in Montréal, Canada, the company has grown its presence globally, with offices in key cities such as New York, London, Amsterdam, and Sydney. Lightspeed's platform offers solutions for retail, hospitality, and golf businesses, integrating point-of-sale (POS) systems, inventory management, customer relationship management (CRM), and advanced analytics.
Lightspeed's software is designed to unify the management of online and physical store operations, making it easier for businesses to manage inventory, sales, and customer interactions across multiple channels. The company's flagship products, Lightspeed Retail and Lightspeed Restaurant, are tailored to the needs of complex, multi-location businesses. These products are trusted by some of the world's leading brands in retail and hospitality, including Fairmont Hotels, Taverne Atlantic, and the Daniel Boulud Group.
Recent achievements include the successful integration of its POS and payments solutions, which has driven significant growth in transaction-based revenues. The company reported a 27% year-over-year increase in total revenue for the third quarter of fiscal 2024, along with its second consecutive quarter of positive Adjusted EBITDA. Lightspeed's financial health is bolstered by its disciplined cost management and strategic growth initiatives.
Moreover, Lightspeed has made strides in expanding its product offerings. For instance, the launch of Lightspeed Restaurant in Quebec aims to support local restaurateurs with smart, intuitive solutions. Additionally, Lightspeed's strategic partnerships, such as with the Myrtle Beach Area Golf Course Owners Association and Uber, further enhance its product ecosystem and customer reach.
In terms of financial outlook, Lightspeed expects to exceed $1 billion in revenue by fiscal 2025, driven by subscription revenue growth and an increasing customer base. The company is also focused on maintaining sustainable profitability, with ongoing investments in product innovation and strategic acquisitions.
Lightspeed continues to be a pivotal player in the commerce technology space, helping businesses around the world to innovate, scale, and thrive.
Lightspeed Commerce Inc. (NYSE: LSPD) has announced the expansion of its Lightspeed Restaurant platform in the U.S., including advanced features such as order throttling and integrated payments for Canadian customers. This follows a successful North American launch and highlights U.S.-based customers achieving a 52% year-over-year increase in Same-Store GTV, outpacing the industry average of 31%. The platform allows restaurants to streamline operations across various services, meeting increased demand for technology amidst industry labor shortages.
Lightspeed Commerce Inc. (NYSE: LSPD) has announced the expansion of Lightspeed Restaurant, a unified hospitality commerce platform, into new U.S. markets. This expansion follows a successful launch in North America, with U.S.-based hospitality customers' Same-Store GTV increasing by 52% year-over-year, significantly outperforming the industry average of 31%. The updated platform offers features like order throttling, integrated payments, and robust analytics, designed to streamline operations for restaurants amid labor challenges. Lightspeed aims to enhance customer experiences while leveraging technology to meet evolving market demands.
On January 25, 2022, Lightspeed Commerce Inc (NYSE: LSPD) announced the appointment of Nathalie Gaveau and Dale Murray to its board of directors. Gaveau, co-founder of PriceMinister, brings extensive European market experience, while Murray offers significant expertise in technology and finance. These appointments enhance diversity, raising the percentage of female members to 44%, exceeding the S&P 500 benchmark. Lightspeed aims to leverage these leaders' insights to strengthen its global strategy and service innovations for local businesses competing in the global economy.
Lightspeed (NYSE: LSPD) has partnered with Intermix to enhance its e-commerce and in-store experiences through the NuORDER platform. This collaboration aims to streamline product assortments and expedite online setup, ultimately driving digital transformation across Intermix's 31 boutiques. The partnership will enable data-driven decision-making, promoting hyper-localized offerings tailored to customer preferences. A full launch is slated for the Cruise 23 buying season, emphasizing the commitment of both companies to deliver a personalized shopping experience.
Lightspeed Commerce Inc. (NYSE: LSPD) has announced it will release its third quarter 2022 financial results on February 3rd, 2022, before market opening. A conference call to discuss the results will occur at 8:00 am ET the same day. Lightspeed's platform supports merchants globally by simplifying operations and enhancing customer experiences. The company operates across North America, Europe, and Asia Pacific, serving over 100 countries. For more information, visit lightspeedhq.com.
Lightspeed Commerce Inc. (NYSE: LSPD) reported that U.S.-based merchants in retail and hospitality outperformed industry averages in 2021. Retail customers experienced a 35% growth in Same-Store Gross Transaction Volume (GTV), significantly higher than the industry average of 18%. Hospitality customers recorded a remarkable 52% growth, compared to 31% industry average. Key growth sectors included nightclubs (140%), fine dining (70%), and apparel (52%). The company also noted strong holiday season performance with 15% and 36% growth in retail and hospitality, respectively.
NuORDER by Lightspeed (NYSE: LSPD) has successfully enhanced Bloomingdale's buying processes through its digital platform. This collaboration has allowed Bloomingdale's to digitize key buying processes, resulting in significant efficiencies during order writing and style reviews. The innovative platform facilitated Bloomingdale's first fully digital buy for its new store concept, Bloomie's, which features a curated mix of luxury and emerging brands. Lightspeed continues to demonstrate its commitment to transforming retail with technology, improving product setup and order processes for its partners.
Lightspeed Commerce Inc. (NYSE: LSPD, TSX: LSPD) is enhancing the retail ecosystem by connecting brands, stores, and consumers through its NuORDER platform. Key partnerships with brands like Coach and rag & bone aim to address supply chain challenges. The platform simplifies ordering processes, allowing retailers to make data-driven decisions and reducing inefficiencies in the supply chain. This initiative democratizes technology access for businesses, benefiting both large and small merchants and ultimately improving customer experiences.
Lightspeed (NYSE: LSPD) announced strong retailer enrollment for its enhanced NuORDER by Lightspeed platform, designed for the Grassroots Outdoor Alliance. Following its introduction at the Grassroots Connect buying show, the platform received positive feedback, helping retailers streamline their order processes, identify product gaps, and manage cash flow. The integration allows retailers to easily compare brands and upload orders via Excel, enhancing efficiency. Grassroots retailers can now access collections from 42 brands, confirming NuORDER as their endorsed buying platform.
The Bay is partnering with NuORDER by Lightspeed (NYSE: LSPD, TSX: LSPD) to enhance its digital transformation ahead of the pre-fall footwear market. This collaboration enables real-time connections between buyers and suppliers, streamlining the buying and merchandising processes. NuORDER's intuitive platform allows for data-driven decisions, faster order delivery, and optimized product assortments tailored to local markets. The partnership aims to improve customer experience through curated trends and efficient operations, aligning with The Bay's commitment to quality and customer-centric strategies.
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