Lightspeed Commerce Inc Stock Price, News & Analysis

Lightspeed Commerce Inc. (NYSE: LSPD) released its 2023 State of the Golf Industry Report, showing continued growth in North American golf courses despite expectations of a downturn post-pandemic. Key findings include a 9.6% average increase in rounds played compared to 2021, with notable year-over-year gains of 11.5% in the U.S. and 7.5% in Canada. Total Gross Transaction Volume (GTV) grew 11.4%, driven by a 28% rise in food & beverage sales. The younger demographic is significantly engaged, with 83% of 18-34 year-olds influenced by golf content. These insights underscore the potential for sustained growth in the golf sector.

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.