Q4 product updates feature new data-driven innovations in retail and hospitality to unlock additional customer value and operational efficiencies MONTREAL, April 30, 2024 /PRNewswire/ - Lightspeed Commerce Inc. (NYSE: LSPD) (TSX: LSPD) ("Lightspeed" or the "Company"), the one-stop commerce platform empowering merchants to provide the best omnichannel experiences, today highlighted the multitude of products and services shipped in Q4 to increase scalability through data-driven insights, and improve the exper ...

Financial Data and Key Metrics - Revenue for Q3 2024 was $239.7 million, up 27% year-over-year, exceeding the high end of the previously established outlook of $232 million to $237 million [34] - Adjusted EBITDA for Q3 2024 was $3.6 million, stronger than the outlook of $2 million, marking the second consecutive quarter of positive adjusted EBITDA [34] - Gross Payment Volume (GPV) increased 69% year-over-year to $6.6 billion, with GPV as a percentage of GTV improving to just under 30% from 25% last quarter [57] - Total GTV for the quarter was $23.1 billion, up 3% year-over-year, with growth in Europe and APAC hospitality offsetting declines in certain retail categories in North America [50] - Subscription revenue increased 9% year-over-year to $80.9 million, with gross margins on subscription revenue at 76%, up from 73% in the same quarter last year [47] - Transaction-based revenue grew 38% to $147.8 million, driven by the growth in GPV and the capital business, which more than doubled year-over-year [48] Business Line Data and Key Metrics - Unified Payments initiative is on track to achieve GPV representing 30% to 35% of GTV by fiscal year-end, with strong adoption in North America and progress in Europe and APAC [42] - The capital business saw revenue more than double year-over-year, contributing to a 95% gross margin [88] - Software revenue growth was impacted as account managers focused on Unified Payments, but is expected to rebound in fiscal 2025 as teams return to upselling software [66] - The supplier network continues to expand, with new high-value brands like Tommy Bahama, Baffin, and UNTUCKit joining the platform [41] Market Data and Key Metrics - Europe saw strong GTV growth, with GPV in Europe up 250% year-over-year, driven by new customer adoption and existing customer upselling [17] - APAC hospitality also experienced double-digit GTV growth, though retail in North America faced challenges, particularly in categories like bikes and home [23] - North America remains more advanced in Unified Payments adoption, with efforts now focused on expanding the Total Addressable Market (TAM) by targeting high-risk verticals [7] Company Strategy and Industry Competition - The company is shifting focus towards growth in fiscal 2025, with investments in outbound sales to target high-GTV customers, particularly in retail and hospitality [44] - The company plans to continue expanding its product offerings, including Lightspeed Capital and new POS solutions like Lightspeed Tableside, to enhance customer experience and drive growth [43] - The competitive gap between the company and others in the market is widening, with the company's integrated software and payments platform being a key differentiator [35] Management Commentary on Operating Environment and Future Outlook - Management is confident in achieving the fiscal 2024 goals, particularly in Unified Payments and profitability, with a focus on growing the top line while maintaining adjusted EBITDA positive performance [39] - The company expects to see a rebound in software revenue growth in fiscal 2025 as account managers return to upselling software modules [66] - The company is committed to achieving adjusted EBITDA breakeven or better for fiscal 2024 and expects to continue generating positive adjusted EBITDA in the future [44] Other Important Information - The company closed the quarter with $750 million in cash and cash equivalents, with cash burn excluding the capital business at just under $5 million [52] - The company is focused on improving unit economics through Unified Payments, with LTV to CAC more than doubling for customers taking both software and payments [93] - The company is exploring M&A opportunities to further enhance its product offerings and expand into new verticals and geographies [95] Q&A Session Summary Question: Unified Payments long-term goals and geographic mix [6] - The company aims to achieve 50% GPV attachment, with 30% to 35% expected by fiscal year-end, and 40% to 45% the following year. North America is more advanced, while Europe is seeing slower but steady adoption [7] Question: Software revenue growth and potential inflection point [8] - Software revenue growth was impacted by the focus on Unified Payments, but is expected to rebound in fiscal 2025 as account managers return to upselling software [9] Question: Churn experience in Europe [12] - Churn in Europe has been consistent with North America, with no significant changes post-Unified Payments rollout. The company is focused on retaining high-GMV customers [12][13] Question: Supplier network and vertical differentiation [14] - The supplier network is strongest in apparel and bikes, with expansion into sporting outdoors. The company is enhancing the experience for apparel customers and expanding into new verticals [14] Question: Outbound sales and EBITDA cadence [18] - The company is investing in outbound sales to target high-GTV customers, with investments expected to precede revenue growth. Adjusted EBITDA is expected to remain positive in fiscal 2025 [19] Question: GTV trends and macro impact [22] - GTV growth was mixed, with strong growth in Europe and APAC hospitality offset by declines in North American retail and hospitality. Weather impacted January performance in North American hospitality [23][25] Question: Small merchant GTV contribution [26] - Customers with under $200k annual GTV represent 5% of total GTV and are expected to churn over time, with minimal impact on overall GTV [26] Question: International market adoption and software growth [31] - The company is bundling software and payments for new customers in Europe, with strong adoption rates. Existing customers are being upsold to payments, with slower but steady adoption [17] Question: Direct sales force expansion [79] - The company plans to expand its outbound sales force, particularly in retail in the U.S. and hospitality in Europe, Canada, Australia, and New Zealand [82] Question: Gross margin outlook [97] - Gross margins are expected to remain above 40%, with declining referral fees offset by higher margins from international payments and growth in the capital business [97] Question: Software ARPU and growth potential [114] - Software ARPU has significant growth potential, with customers potentially paying 4x to 5x current levels as they adopt more modules and migrate to flagship products [120] Question: Vertical eligibility for Lightspeed Payments [102] - Approximately 80% of GTV is monetizable, with 15% to 20% in industries or geographies where payments are not yet supported. The company is working on solutions for high-risk verticals [103]

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FOR THE THREE AND NINE MONTHS ENDED DECEMBER 31, 2023 As used in this management's discussion and analysis ("MD&A"), unless the context indicates or requires otherwise, all references to the "Company", "Lightspeed", "we", "us" or "our" refer to Lightspeed Commerce Inc. together with our subsidiaries, on a consolidated basis as constituted on December 31, 2023. This MD&A dated February 8, 2024, for the three and nine months ...

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FOR THE THREE AND SIX MONTHS ENDED SEPTEMBER 30, 2023 As used in this management's discussion and analysis ("MD&A"), unless the context indicates or requires otherwise, all references to the "Company", "Lightspeed", "we", "us" or "our" refer to Lightspeed Commerce Inc. together with our subsidiaries, on a consolidated basis as constituted on September 30, 2023. This MD&A dated November 2, 2023, for the three and six months ...

First Quarter FY2024 Results Gross Payment Volume grew 56% (1) YoY to $5.1 billion (2) Fiscal 2024 Fiscal 2021 Fiscal 2022 Fiscal 2023 Launch Date GPV as a % of GTV(1) 22% (2) (1) Excluding Customer Locations and GTV attributable to Ecwid eCommerce standalone product, Lightspeed Golf and NuORDER by Lightspeed product. A Customer Location's GTV per year is calculated by annualizing the GTV for the months in which the Customer Location is actively processing in the last 12 months. (2) As at June 30, 2023 vs a ...

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS FOR THE THREE MONTHS ENDED JUNE 30, 2023 As used in this management's discussion and analysis ("MD&A"), unless the context indicates or requires otherwise, all references to the "Company", "Lightspeed", "we", "us" or "our" refer to Lightspeed Commerce Inc. together with our subsidiaries, on a consolidated basis as constituted on June 30, 2023. This MD&A dated August 3, 2023, for the three months ended June 30, 2023, should ...

Disclaimer 2 General This presentation contains "forward-looking information" and "forward-looking statements" (collectively, "forward looking information") within the meaning of applicable securities laws. Forward looking information may relate to our financial outlook (including revenue, Adjusted EBITDA and Adjusted EBITDA as a percentage of revenue) and anticipated events or results and may include information regarding our financial position, business strategy, growth strategies, addressable markets, bu ...

Lightspeed Commerce Inc. (NYSE:LSPD) Q4 2023 Results Earnings Conference Call May 18, 2023 8:00 AM ET Company Participants Gus Papageorgiou - Head of Investor Relations Jean Paul Chauvet - Chief Executive Officer Asha Bakshani - Chief Financial Officer Conference Call Participants Daniel Chan - TD Securities Andrew Jeffrey - Truist Securities Martin Toner - ATB Capital Markets Thanos Moschopoulos - BMO Capital Markets Tien-Tsin Huang - J.P. Morgan Joshua Baer - Morgan Stanley Koji Ikeda - Bank of America Se ...

Lightspeed Announces Fourth Quarter and Full Year 2023 Financial Results and Provides Outlook for Fiscal 2024 Customer Locations processing more than $500,000/year in GTV grew by 13% YoY in the quarter 3 Lightspeed reports in US dollars and in accordance with IFRS. MONTREAL, May 18, 2023, /CNW Telbec/ - Lightspeed Commerce Inc. ("Lightspeed" or the "Company") (TSX: LSPD) (NYSE: LSPD), the one-stop commerce platform for merchants around the world to simplify, scale and create exceptional customer experiences ...

Lightspeed Commerce Inc. (NYSE:LSPD) Q3 2023 Results Earnings Conference Call February 2, 2023 8:00 AM ET Company Participants Gus Papageorgiou - Head, Investor Relations Jean Paul Chauvet - Chief Executive Officer Asha Bakshani - Chief Financial Officer Brandon Nussey - Chief Operating Officer Conference Call Participants Daniel Perlin - RBC Capital Markets Daniel Chan - TD Securities Andrew Bauch - SMBC Nikko Securities Andrew Jeffrey - Truist Securities Josh Beck - KeyBanc Capital Markets Raimo Lenschow ...