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 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.
Lightspeed POS (NYSE: LSPD) has announced its acquisition of ShopKeep, significantly enhancing its U.S. presence by over 20,000 customer locations. This strategic move aims to empower independent retailers and restaurants amid digital transformation due to COVID-19. The agreement, worth approximately $440 million, includes $145.2 million in cash and 9.5 million subordinate shares. Post-acquisition, Lightspeed will support over 100,000 customer locations globally with an estimated $33 billion in gross transaction volume. The deal is scheduled to close by December 31, 2020.
On October 21, 2020, Lightspeed announced the launch of Lightspeed Subscriptions, a new module enabling North American retailers to collect recurring payments via their POS systems. This initiative targets the growing health and wellness sector, allowing businesses to adapt to changing consumer behaviors due to COVID-19. Lightspeed Subscriptions aims to enhance customer loyalty and generate stable revenue for retailers during the holiday season, supporting their recovery with innovative sales strategies.
Lightspeed POS Inc. (NYSE: LSPD) has announced that it will report its fiscal Q2 2021 financial results on November 5, 2020, prior to the market opening. A conference call is scheduled for 7:30 am ET the same day to discuss these results. Lightspeed, headquartered in Montreal, offers cloud-based omnichannel commerce solutions and serves over 100 countries. It supports small and medium-sized businesses in retail, hospitality, and golf sectors, enabling them to manage operations and drive growth.
Lightspeed has launched Order Ahead, a cost-efficient online ordering management system, enabling North American restaurants to offer a contactless dining experience. This new platform integrates with Lightspeed eCom for Restaurant, providing restaurants an opportunity to generate new revenue streams amid the pandemic. Key features include seamless integration with existing POS systems, real-time order tracking, and contactless payment options. The solution aims to support restaurants in adapting to the evolving market demands.
Lightspeed POS Inc. (LSPD) has successfully closed its initial public offering in the U.S., selling 13,039,004 subordinate voting shares at a price of US$30.50 per share. This offering generated gross proceeds of US$332.3 million for the company and US$65.4 million for selling shareholders. The funds are intended to bolster the company's financial position and support its growth strategies. The offering was led by a syndicate of prominent underwriters including Morgan Stanley and Barclays.
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