Lightspeed Commerce Inc - LSPD STOCK NEWS

Lightspeed Commerce reported significant growth in its second quarter ending September 30, 2021, with total revenue soaring 193% year-over-year to $133.2 million. The company also saw a remarkable 123% increase in Gross Transaction Value (GTV), reaching $18.8 billion. Subscription and transaction-based revenue rose by 58% organically, totaling $124.4 million. Despite these gains, Lightspeed faced a net loss of $59.1 million compared to $19.5 million the previous year. The company holds $1.2 billion in cash and continues to enhance its platform with strategic acquisitions like Ecwid.

Lightspeed Commerce expands its Payments service to include Australia and U.S. merchants, following its acquisition of Vend. This launch significantly increases the reach of Lightspeed Payments, now available to retail customers in several countries, enhancing their operational capabilities. The platform aims to streamline payment processing and integrate various sales channels, providing merchants with essential analytics and resources for transactions. With this development, Lightspeed enhances its competitive position in the global financial services market.

Lightspeed (NYSE: LSPD) has launched a new flagship eCommerce product leveraging its acquisition of Ecwid, aiming to enhance omnichannel solutions for retailers. This integration provides robust tools enabling merchants to manage in-store and online operations seamlessly. Key features include easy setup, social media sales, and improved inventory management, allowing businesses to adapt to changing consumer behaviors. Lightspeed eCommerce is available to all retail merchants globally, including those from recent acquisitions like ShopKeep and Vend.

Lightspeed Commerce Inc. (NYSE: LSPD) has expanded its Lightspeed Capital program to include eligible U.S. customers, increasing the access to capital for its merchant base by approximately 40%. This initiative aims to simplify financial solutions for independent businesses facing capital acquisition challenges. The service provides cash access often by the next business day without negatively impacting credit scores. Lightspeed intends to further enhance its offerings in retail and hospitality sectors across APAC by year's end.

Lightspeed Commerce Inc. (NYSE: LSPD) has launched Lightspeed Restaurant, a new hospitality commerce and POS platform in North America, following its successful European launch. This platform integrates features from Upserve, Gastrofix, Kounta, and iKentoo to enhance operational efficiency for restaurants. Key offerings include advanced analytics, integrated inventory management, and contactless payments aimed at addressing the evolving needs of restaurateurs in the post-pandemic landscape.

Lightspeed Commerce Inc. (NYSE: LSPD) has announced that it will report its second quarter 2022 financial results on November 4, 2021, before the market opens. A conference call and webcast will take place at 8:00 AM ET on the same day to discuss the results. The company provides a cloud-based commerce platform aimed at helping merchants enhance customer experiences and streamline operations, serving clients in over 100 countries.

Lightspeed Commerce Inc. (NYSE: LSPD) has successfully closed its acquisition of Ecwid for approximately $163.6 million. This strategic move aims to enhance selling flexibility and omnichannel experiences for merchants by integrating Ecwid's capabilities. Lightspeed will issue 4,842,674 subordinate voting shares and an additional $12.8 million in deferred cash based on performance milestones. The acquisition supports a partnership with TikTok, allowing merchants to utilize TikTok For Business Ads Manager seamlessly, ultimately broadening their reach in social media and digital marketplaces.

Lightspeed Commerce Inc. (NYSE: LSPD) has officially changed its name from Lightspeed POS Inc., effective August 6, 2021. This name change, approved by shareholders at the August 5 meeting, reflects the company's growth beyond a point-of-sale solution, aligning with its comprehensive commerce platform vision. The company's subordinate voting shares will continue to trade under the ticker symbol LSPD on both the TSX and NYSE starting August 10, 2021. No actions are required from shareholders regarding this name change.

Lightspeed (NYSE: LSPD) has launched its integrated financial service, Lightspeed Payments, for hospitality merchants in Germany, Switzerland, France, Belgium, and the Netherlands. This expansion follows its availability in Canada and the U.S. and aims to enhance payment processing for independent businesses. As 40% of Lightspeed’s customers are outside North America, this move is significant. The company reports that 94% of U.K. small-business owners see cost benefits from integrated payments. The hospitality sector in Europe is rebounding, emphasizing the need for efficient payment solutions.