Elevating the Culinary Scene: Introducing the Next Evolution of Lightspeed Restaurant in Quebec

Rhea-AI Summary

Lightspeed Commerce Inc. launches Lightspeed Restaurant in Quebec, offering advanced data analytics, staffing solutions, and smart inventory management to help restaurateurs scale their operations. Despite challenges in the industry, the sector shows resilience with anticipated growth in foodservice sales by 2026.

Lightspeed heralds a transformative era with industry-leading advanced data analytics, staffing solutions, smart inventory management, and effortless ordering system to meet the demands of the modern Quebec market

Montreal, March 25, 2024 (GLOBE NEWSWIRE) -- Lightspeed Commerce Inc. (NYSE | TSX: LSPD) proudly launches its flagship Lightspeed Restaurant in its home province of Quebec, equipping restaurateurs with smart, intuitive solutions that empower them to scale their operations, turning challenges into opportunities for innovation and success. Powering the world’s best businesses, Lightspeed is the unified POS and payments platform for ambitious entrepreneurs who wish to accelerate growth, provide the best customer experiences and become a go-to destination in their space.

In the backdrop of a challenging period for Quebec’s restaurant industry, marked by significant financial pressures and operational hurdles, Lightspeed Restaurant emerges as a pivotal solution. Insights from The Quebec Restaurant Association's insights reveal a tough landscape, with noticeable downturns and increasing operational costs in 2023. Yet, the resilience of the sector shines through, with anticipated growth rebounding to $18.7 billion in foodservice sales by 2026.

Regarded globally, Lightspeed Restaurant is trusted and engineered for complex, multi-location businesses around the world. Its key features, designed for efficiency and growth, addresses critical needs within the industry: 

• Advanced Insights: harness real-time customer data for on-the-spot operational adjustments, leading to increased guest satisfaction and optimized team performance,  instrumental in navigating staff shortages.
  
  
• Automated inventory management: tackle rising food costs head-on by reducing waste with precise tracking and cost analysis, as every ingredient contributes to your menu creations.   
  
  
• Order Anywhere: allow guests to order directly from the comfort of their seats or online, simplifying service and paving the way for an elevated dining experience.

“Reflecting on Lightspeed's journey from its inception in Montreal to becoming a global beacon of innovative commerce solutions fills me with immense pride," shared Dax Dasilva, Founder and CEO of Lightspeed. "Our dedication goes beyond technology; it's about fostering a thriving ecosystem for Quebec's restaurant industry, offering intuitive tools that cater to the unique needs of restaurateurs. Our commitment is to elevate and transform local businesses, ensuring they not only navigate but thrive amidst a dynamic landscape.”

In conjunction with the launch of Lightspeed Restaurant in Quebec, and to further bolster the Company’s commitment to local businesses, Lightspeed proudly partnered with the sixth edition of the Lauriers de la gastronomie québécoise. This annual award recognizes Quebec’s culinary greats, as determined by their peers. Lightspeed will be hosting the 2024 Lauriers nomination ceremony at its headquarters today on March 25, 2024.  

Lightspeed powers Quebec’s–and the world’s best–restaurants and hospitality businesses, including: Fairmont Le Manoir Richelieu (La Malbaie), Taverne Atlantic (Montréal), Daniel Boulud Group (NYC), Alinea Group (Chicago), Big Mamma (Europe), Kei (Paris). Lightspeed Restaurant is currently available in Canada, the United States, the United Kingdom, France, Belgium, the Netherlands, Switzerland, Germany and Australia.

Dive into the transformative features of Lightspeed Restaurant on our website. To witness its powerful capabilities, see www.lightspeedhq.com/pos/restaurant.

About Lightspeed

Powering the businesses that are the backbone of the global economy, Lightspeed's one-stop commerce platform helps merchants innovate to simplify, scale and provide exceptional customer experiences. Our cloud commerce solution transforms and unifies online and physical operations, multichannel sales, expansion to new locations, global payments, financial solutions and connection to supplier networks.
Founded in Montréal, Canada in 2005, Lightspeed is dual-listed on the New York Stock Exchange (NYSE: LSPD) and Toronto Stock Exchange (TSX: LSPD). With teams across North America, Europe and Asia Pacific, the company serves retail, hospitality and golf businesses in over 100 countries.
For more information, see www.lightspeedhq.com.
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Forward-Looking Statements

This news release may include forward-looking information and forward-looking statements within the meaning of applicable securities laws ("forward-looking statements"), including information regarding Lightspeed’s product offerings and planned product roadmap. Forward-looking statements are statements that are predictive in nature, depend upon or refer to future events or conditions and are identified by words such as "will", "expects", "anticipates", "intends", "plans", "believes", "estimates" or similar expressions concerning matters that are not historical facts. Such statements are based on current expectations of Lightspeed's management and inherently involve numerous risks and uncertainties, known and unknown, including economic factors. A number of risks, uncertainties and other factors may cause actual results to differ materially from the forward-looking statements contained in this news release, including, among other factors, those risk factors identified in our most recent Management's Discussion and Analysis of Financial Condition and Results of Operations, under "Risk Factors" in our most recent Annual Information Form, and in our other filings with the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission, all of which are available under our profiles on SEDAR at www.sedarplus.ca and on EDGAR at www.sec.gov. Readers are cautioned to consider these and other factors carefully when making decisions with respect to Lightspeed's subordinate voting shares and not to place undue reliance on forward-looking statements. Forward-looking statements contained in this news release are not guarantees of future performance and, while forward-looking statements are based on certain assumptions that Lightspeed considers reasonable, actual events and results could differ materially from those expressed or implied by forward-looking statements made by Lightspeed. Except as may be expressly required by applicable law, Lightspeed does not undertake any obligation to update publicly or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

For further information:

Lightspeed Media Relations - media@lightspeedhq.com
Lightspeed Investor Relations - investorrelations@lightspeedhq.com

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• A New Chapter for Lightspeed

What is the ticker symbol for Lightspeed Commerce Inc.?

The ticker symbol for Lightspeed Commerce Inc. is LSPD.

What solutions does Lightspeed Restaurant offer to restaurateurs?

Lightspeed Restaurant offers advanced data analytics, staffing solutions, smart inventory management, and an effortless ordering system.

What are the key features of Lightspeed Restaurant?

The key features include advanced insights for operational adjustments, automated inventory management to reduce waste, and the ability for guests to order from anywhere.

Who is the Founder and CEO of Lightspeed Commerce Inc.?

Dax Dasilva is the Founder and CEO of Lightspeed Commerce Inc.

What is the anticipated growth in foodservice sales by 2026 according to insights from The Quebec Restaurant Association?

The anticipated growth in foodservice sales is $18.7 billion by 2026.

How does Lightspeed Restaurant aim to empower restaurateurs?

Lightspeed Restaurant aims to empower restaurateurs by providing solutions to scale their operations and turn challenges into opportunities for innovation and success.