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 POS reported a 79% year-over-year revenue increase to $57.6M for Q3, surpassing guidance of $44-$47M. Recurring software and payments revenue also rose to $52.5M, an 85% increase. Customer locations reached nearly 115,000 globally, with Gross Transaction Value (GTV) up 48% year-over-year to $9.1B. However, the company faced a net loss of $42.7M, an increase from $15.8M the previous year. Despite strong growth metrics, the outlook remains cautious due to potential pandemic-related challenges, predicting Q4 revenues between $68-$70M.
Lightspeed POS Inc. (NYSE: LSPD) will release its third quarter 2021 financial results on February 4, 2021, before market opening. A conference call is scheduled for 8:00 AM ET on the same day to discuss these results. Lightspeed offers cloud-based omnichannel commerce platforms, serving businesses in over 100 countries, primarily in retail, hospitality, and golf sectors. This announcement emphasizes the company's ongoing commitment to transparency and investor engagement as it continues to support small and medium-sized enterprises.
Lightspeed (NYSE: LSPD) has launched the Lightspeed Supplier Network, enhancing supply chain management for small and medium-sized businesses (SMBs) in North America. This fully integrated stock ordering solution offers automated supplier catalog updates, order management, and shipping handling within Lightspeed's cloud platform. By democratizing access to inventory visibility, the network empowers SMBs to adopt a demand-focused model and compete with larger chains. The initiative is critical as the COVID-19 pandemic strains supply chains in 2021.
Lightspeed (NYSE: LSPD) reports impressive growth for U.S. and Canadian golf operators, with course occupancy rising 23% and 26% year-over-year from January to September 2020. This surge is attributed to the rapid digital transformation driven by COVID-19. The company highlights its role in enabling clients to shift to a digital, contactless model, increasing online reservations significantly. Over 1000 golf courses globally now utilize Lightspeed's platform, showcasing its positive impact on sales and customer experiences. With key partnerships and growth prospects, Lightspeed positions itself as a leader in the evolving golf industry.
Lightspeed POS Inc. announced a significant corporate change as all its outstanding multiple voting shares have converted into subordinate voting shares, following the issuance of 5,895,365 subordinate voting shares related to the acquisition of Upserve. Previously, CEO Dax Dasilva held 14,429,466 multiple voting shares (about 37.16% voting power), but now controls the same number of subordinate voting shares, reducing his voting power to 12.24%. This transition results in a single class of shares, complying with Toronto Stock Exchange regulations. The automatic conversion was prompted by the treasury share issuance.
Lightspeed POS Inc. (NYSE: LSPD) has announced the acquisition of Upserve, a leading restaurant management cloud-software company, for approximately $430 million. This strategic move aims to enhance Lightspeed's hospitality footprint, adding over $40 million in revenue and increasing its overall gross transaction volume (GTV) to more than $39 billion. The deal will also expand Lightspeed's market presence by integrating Upserve's 7,000 customer locations, further driving innovation and analytics in the restaurant sector.
Lightspeed POS Inc. (NYSE: LSPD) has successfully completed its acquisition of ShopKeep Inc. for $145.2 million in cash and 7,437,397 subordinate voting shares. This acquisition enhances Lightspeed's position as a market leader for complex small and medium-sized businesses (SMBs) in the U.S., driving digital transformation. With this deal, Lightspeed now services over 100,000 customer locations, generating approximately $33 billion in gross transaction volume annually as of September 30, 2020.
DAVO Technologies has launched its automated sales tax service on Lightspeed's Restaurant and Retail platforms in the United States. This service offers Lightspeed customers a hassle-free solution for managing sales tax, setting aside funds daily and filing payments monthly or quarterly. The service costs $39.99 per month per location. Lightspeed aims to enhance operational efficiency for small and medium-sized businesses, providing them the ability to focus on growth rather than tax management.
Lightspeed POS Inc. (NYSE: LSPD) announced its participation in several upcoming technology and growth-oriented investor conferences. The events include the RBC Global TIMT Conference on November 17, J.P. Morgan Ultimate Services Investor Conference on November 19, Credit Suisse Technology Conference on December 2, and Barclays TMT Conference on December 9. Audio webcasts will be available on the company's Investor Relations website during the presentations. Lightspeed offers cloud-based omnichannel commerce solutions for small and medium-sized businesses across various industries globally.
Lightspeed achieved a remarkable 62% year-over-year revenue growth in Q2, reaching $45.5 million. Customer locations surpassed 80,000 globally with a 56% increase in Gross Transaction Value (GTV) totaling $8.5 billion. Payments revenue soared over 300% year-over-year, marking a record quarter for the segment. Additionally, Lightspeed announced its acquisition of ShopKeep for approximately $440 million, enhancing its U.S. market presence. Despite strong performance, the company projects caution due to potential COVID-19 impacts, estimating Q3 revenues between $44 million and $47 million.
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