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) generates a steady flow of news as a POS and payments platform serving retail, golf, and hospitality businesses in over 100 countries. News about Lightspeed often highlights product innovation, AI capabilities, wholesale marketplace developments, financial results, and corporate milestones, giving investors and industry observers insight into how the company is evolving its omnichannel SaaS platform.
Recent announcements have focused on new offerings such as Lightspeed AI, an intelligence layer that introduces conversational assistants within Lightspeed Retail, Lightspeed Restaurant, and NuORDER to help merchants and buying teams access data-driven insights. Lightspeed has also unveiled Lightspeed Tempo, a pacing intelligence built into Lightspeed Restaurant, and a new NuORDER Marketplace experience that centralizes multi-brand wholesale shopping and ordering with POS integration.
In addition to product updates, Lightspeed news includes financial results and outlook updates, conference call announcements, and strategic leadership changes, such as the appointment of a Chief Revenue Officer and board appointments. Coverage also extends to recognition in programs like Deloitte's Technology Fast 50, as well as partnerships and wholesale initiatives through NuORDER by Lightspeed.
This news page for LSPD brings together these types of updates so readers can follow developments in Lightspeed's platform, AI initiatives, wholesale ecosystem, and financial reporting. For investors, merchants, and analysts tracking the company, it offers a central view of how Lightspeed is positioning its POS, payments, and commerce tools across retail, hospitality, and golf.
Lightspeed POS Inc. announced a significant corporate change as all its outstanding multiple voting shares have converted into subordinate voting shares, following the issuance of 5,895,365 subordinate voting shares related to the acquisition of Upserve. Previously, CEO Dax Dasilva held 14,429,466 multiple voting shares (about 37.16% voting power), but now controls the same number of subordinate voting shares, reducing his voting power to 12.24%. This transition results in a single class of shares, complying with Toronto Stock Exchange regulations. The automatic conversion was prompted by the treasury share issuance.
Lightspeed POS Inc. (NYSE: LSPD) has announced the acquisition of Upserve, a leading restaurant management cloud-software company, for approximately $430 million. This strategic move aims to enhance Lightspeed's hospitality footprint, adding over $40 million in revenue and increasing its overall gross transaction volume (GTV) to more than $39 billion. The deal will also expand Lightspeed's market presence by integrating Upserve's 7,000 customer locations, further driving innovation and analytics in the restaurant sector.
Lightspeed POS Inc. (NYSE: LSPD) has successfully completed its acquisition of ShopKeep Inc. for $145.2 million in cash and 7,437,397 subordinate voting shares. This acquisition enhances Lightspeed's position as a market leader for complex small and medium-sized businesses (SMBs) in the U.S., driving digital transformation. With this deal, Lightspeed now services over 100,000 customer locations, generating approximately $33 billion in gross transaction volume annually as of September 30, 2020.
DAVO Technologies has launched its automated sales tax service on Lightspeed's Restaurant and Retail platforms in the United States. This service offers Lightspeed customers a hassle-free solution for managing sales tax, setting aside funds daily and filing payments monthly or quarterly. The service costs $39.99 per month per location. Lightspeed aims to enhance operational efficiency for small and medium-sized businesses, providing them the ability to focus on growth rather than tax management.
Lightspeed POS Inc. (NYSE: LSPD) announced its participation in several upcoming technology and growth-oriented investor conferences. The events include the RBC Global TIMT Conference on November 17, J.P. Morgan Ultimate Services Investor Conference on November 19, Credit Suisse Technology Conference on December 2, and Barclays TMT Conference on December 9. Audio webcasts will be available on the company's Investor Relations website during the presentations. Lightspeed offers cloud-based omnichannel commerce solutions for small and medium-sized businesses across various industries globally.
Lightspeed achieved a remarkable 62% year-over-year revenue growth in Q2, reaching $45.5 million. Customer locations surpassed 80,000 globally with a 56% increase in Gross Transaction Value (GTV) totaling $8.5 billion. Payments revenue soared over 300% year-over-year, marking a record quarter for the segment. Additionally, Lightspeed announced its acquisition of ShopKeep for approximately $440 million, enhancing its U.S. market presence. Despite strong performance, the company projects caution due to potential COVID-19 impacts, estimating Q3 revenues between $44 million and $47 million.
Lightspeed POS (NYSE: LSPD) has announced its acquisition of ShopKeep, significantly enhancing its U.S. presence by over 20,000 customer locations. This strategic move aims to empower independent retailers and restaurants amid digital transformation due to COVID-19. The agreement, worth approximately $440 million, includes $145.2 million in cash and 9.5 million subordinate shares. Post-acquisition, Lightspeed will support over 100,000 customer locations globally with an estimated $33 billion in gross transaction volume. The deal is scheduled to close by December 31, 2020.
On October 21, 2020, Lightspeed announced the launch of Lightspeed Subscriptions, a new module enabling North American retailers to collect recurring payments via their POS systems. This initiative targets the growing health and wellness sector, allowing businesses to adapt to changing consumer behaviors due to COVID-19. Lightspeed Subscriptions aims to enhance customer loyalty and generate stable revenue for retailers during the holiday season, supporting their recovery with innovative sales strategies.
Lightspeed POS Inc. (NYSE: LSPD) has announced that it will report its fiscal Q2 2021 financial results on November 5, 2020, prior to the market opening. A conference call is scheduled for 7:30 am ET the same day to discuss these results. Lightspeed, headquartered in Montreal, offers cloud-based omnichannel commerce solutions and serves over 100 countries. It supports small and medium-sized businesses in retail, hospitality, and golf sectors, enabling them to manage operations and drive growth.
Lightspeed has launched Order Ahead, a cost-efficient online ordering management system, enabling North American restaurants to offer a contactless dining experience. This new platform integrates with Lightspeed eCom for Restaurant, providing restaurants an opportunity to generate new revenue streams amid the pandemic. Key features include seamless integration with existing POS systems, real-time order tracking, and contactless payment options. The solution aims to support restaurants in adapting to the evolving market demands.