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 (NYSE: LSPD) has announced a significant reorganization, reducing its workforce by about 10%, equating to approximately 300 roles, as part of its strategy to streamline operations and achieve profitable growth. The company expects its Q3 revenue results to meet previous forecasts and is projecting an incremental restructuring cash charge of $12 million to $14 million, primarily due to severance and related costs. CEO JP Chauvet highlighted the importance of this leaner structure in enhancing agility and customer responsiveness, following the successful launch of flagship products.
Lightspeed Commerce Inc. will announce its third quarter 2023 financial results on February 2, 2023, before the market opens. A conference call is scheduled for 8:00 am ET the same day to discuss financial outcomes. Lightspeed provides a one-stop commerce platform for merchants worldwide, enhancing customer experiences across various sectors. Founded in 2005 in Montréal, the company operates globally, serving clients in over 100 countries.
Lightspeed Commerce Inc. (NYSE: LSPD) announced that Merline Saintil will step down from its Board of Directors, effective December 31, 2022. Saintil has served on the Board for over two years and noted that her decision was made to focus on her responsibilities with other public companies. The company's founder, Dax Dasilva, expressed gratitude for Saintil's contributions to Lightspeed during her tenure. Lightspeed continues to support merchants globally through its cloud commerce platform.
Lightspeed Commerce Inc. (NYSE: LSPD) has appointed Kady Srinivasan, a former executive from Klaviyo and Dropbox, as its new Chief Marketing Officer. Reporting to CEO JP Chauvet, Srinivasan brings over 15 years of experience in marketing and SaaS company growth. Her role will focus on enhancing brand awareness and driving strategic growth, particularly in serving complex SMBs. Srinivasan expressed excitement about joining at a time when technology is crucial for business success, aiming to position Lightspeed as a leading commerce platform globally.
Lightspeed Commerce Inc. (NYSE: LSPD) has been recognized as one of the winners in the Enterprise Fast 15 category of the 2022 Deloitte Technology Fast 50 program. This prestigious award acknowledges the fastest-growing enterprise-level technology companies in Canada based on revenue growth over the past four years. To qualify, companies must have reported a minimum revenue of $10 million in 2018 and $25 million in 2021. CEO JP Chauvet emphasized the importance of supporting small and medium-sized businesses amidst challenging economic conditions.
Lightspeed Commerce reported strong financial results for Q2 FY2022, with revenue reaching $183.7 million, a 38% year-over-year increase, or 41% growth in constant currency. Gross Payments Volume soared to $3.7 billion, up 86% year-over-year. Despite a net loss of ($79.9) million and headwinds from foreign exchange fluctuations, the company's Adjusted EBITDA loss of ($8.5) million was better than expected. Lightspeed anticipates annual revenue of $730 to $740 million, revised from a previous outlook of $740 to $760 million.
Lightspeed Commerce Inc. (NYSE: LSPD) has announced the promotion of JD St-Martin to President, expanding his role from Chief Revenue Officer to oversee the strategic direction and performance across all verticals. CEO JP Chauvet praised St-Martin's leadership and contributions to company growth. St-Martin, who joined Lightspeed in 2019, emphasized the critical role of technology for retailers facing challenges like staffing shortages and inflation. Additionally, Chief Business Officer Michael DeSimone will depart at the end of 2022.
Lightspeed Commerce Inc. (NYSE: LSPD) announced details for its Capital Markets Day on November 15, 2022, at its headquarters in Montreal. The event will include updates from the senior management team regarding products, markets, and future plans, with both in-person and virtual attendance options available. Attendees can register online, and a replay of the event will be accessible for one year on the company's website. Founded in 2005, Lightspeed supports global merchants with its comprehensive commerce platform.
Lightspeed Commerce Inc. (NYSE: LSPD, TSX: LSPD) will announce its fiscal second quarter 2023 financial results on November 3, 2022, prior to market opening. A conference call will follow at 8:00 am ET to discuss these results, accessible via registration. Lightspeed, a comprehensive commerce platform, serves clients globally, assisting in enhancing customer experiences and operational efficiency. Founded in 2005 and headquartered in Montreal, Canada, it operates across over 100 countries, catering to retail, hospitality, and golf sectors.
On October 4, 2022, Lightspeed Commerce (NYSE: LSPD) announced the appointment of Ryan Tabone as Chief Product & Technology Officer. Previously a senior executive at Google, Tabone brings vast experience in product and technology development, having contributed to the creation of several key products like Chromebook and Google Pay. CEO JP Chauvet emphasized Tabone's role in enhancing solutions that support retailers and restaurateurs. This leadership change is expected to fortify Lightspeed's position in simplifying commerce for small and medium-sized businesses globally.
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