Lightspeed Commerce Inc. - LSPD STOCK NEWS

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.

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.