Lightspeed Commerce Inc. - LSPD STOCK NEWS

Lightspeed (NYSE: LSPD) has launched Lightspeed Payments for hospitality merchants in the United Kingdom and Europe. This initiative aims to simplify payment processes as 94% of UK SMBs seek integrated payments to enhance operations. The offering includes mobile and contactless payments, crucial for businesses adapting post-pandemic. A study revealed that 94% of respondents believe integrated POS payments save money, while a significant portion requests support for preventing fraud. With a history of success in North America, Lightspeed aims to empower global customers with secure, efficient transaction capabilities.

Lightspeed POS Inc. (NYSE: LSPD) has announced the acquisition of Vend, a cloud-based retail management software company, valued at approximately $350 million. This acquisition will expand Lightspeed's customer base by over 20,000 locations globally, particularly enhancing its presence in the Asia-Pacific market. Vend generated $34 million in revenue and over $7 billion in Gross Transaction Volume in the last year. The acquisition is expected to close by the end of April, pending regulatory approvals.

On March 11, 2021, Lightspeed POS announced its decision to acquire Vend, a cloud-based retail management software company, for approximately $350 million. This strategic acquisition aims to enhance Lightspeed's customer base by over 20,000 locations globally, significantly strengthening its position in the Asia-Pacific region. With Vend's estimated revenue of $34 million and Gross Transaction Volume of $7 billion for the year ending December 31, 2020, the integration is expected to bolster Lightspeed's innovative commerce solutions for small and medium-sized businesses.

On February 8, 2021, Lightspeed POS Inc. (NYSE: LSPD) announced a marketed public offering of 7,000,000 subordinate voting shares in the U.S. and Canada. This offering will be led by Morgan Stanley, Barclays, and BMO Capital Markets, with an additional option for underwriters to purchase up to 1,050,000 shares. The net proceeds are intended to strengthen the company's financials and support growth strategies, subject to customary regulatory approvals. Lightspeed will not receive proceeds from sales by selling shareholders.

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.