Looking at our payments, gross payment volume was $3.3 billion, up 96% from last year and up 48% from our Q4. But at the same time, we have so much opportunity as we integrate all the different companies that we bought over the last two years. My name is Angela, and I'll be your conference operator today. And all of the salespeople are only going to sell the new Lightspeed platform. And it's actually going to simplify our business going forward because every customer now is going to is going to follow the exact same onboarding flow, where everybody's on payments, every new customer, and every existing customer is going to move to Lightspeed Payments. Presentation Operator MessageOperator Ladies and gentlemen, thank you for standing by, and welcome to today's Lightspeed Second Quarter 2021 Earnings Call. | May 23, 2023 . Thanks, everyone, for joining us today. We haven't shared any data for now on this, but this is going to be, I mean, top of our mind as soon as we have the One brand everywhere in the world. I always said it's a very predictable model. So have you been implementing any pricing adjustments in some of the geographies to offset FX or is it more the fact you've got other levers like payments ramp and module add-on sort of offsetting that? We're even seeing customers actually move from other platforms because they scale off the other cloud based systems. Look, we -- as you know, we have this strategy to one product. Again, I think that's very much in line with the cautiousness that we have. This quarter, we also continued to grow our complex customers with higher GTV tiers. And not just for existing customers with terminals and everything, but also even to try and attract customers. So we have teams, as you know, all over the world. We announced a few very large retailers and restauranteurs that have been moving to Lightspeed that we acquired in the quarter. One of the things that I think about in this industry, given the competition and the way that Lightspeed continues to try to differentiate itself is what the TAM can be? Please go ahead. If anything, July looks a little more kind of stable from some of the trends we've seen in those retail categories previously. And in the US, we don't want to own everything in the US. And, yeah, so the big mandate here for Kady, who's joined us, is twofold. In the quarter, we saw gross payment volumes increase 70% year-over-year to $3.8 billion as a greater portion of our GTV went through our Lightspeed Payments platform. So if we want to grow more, it's a fairly simple step of getting more into marketing and generating more customers. Latest ownership filings. What other factors are coming into play? Although we expect our share-based compensation to be higher on a quarterly basis than it was in our fourth quarter, we expect our annual share based compensation to decline over time from historical level. And I think we're one of the only ones out there now that has launched this. In retail, we're pleased to welcome Eastern National, an entity that operates 127 locations across America's national parks. Those things that are under our control, we feel very good about. Are you seeing competition or rather competitive intensity increase as you move upmarket? That continued into Q1, as you heard from Asha earlier. For the quarter, we saw GTV grow organically by 25% and 36% overall, with hospitality showing stronger growth than retail and EMEA showing the highest GTV growth of any region. As you heard from JP, we were able to deliver $173.9 million in revenue, ahead of our outlook of $165 million to $170 million, with subscription and transaction-based revenue, up 38% from last year on an organic basis and total revenue up 50% overall. It's very simple, look at streets around the world and you look at the businesses in those streets. So we are confident we're going to hit our numbers. We're tracking well on these thus far as well. So here's some direct feedback from Silo & Crate, one of our restaurant customers in the UK. Joining me today are JP Chauvet, Lightspeed's Chief Executive Officer, and Asha Bakshani, our Chief Financial Officer. So as we said, when we did our forecast this year and for next year, by the way, we are not expecting a lot of revenues from the B2B network. Yeah. Our last question comes from Clarke Jeffries with Piper Sandler. I think we are the go to globally for retail. Transcript : Lightspeed POS Inc., Q2 2021 Earnings Call, Nov 05, 2020. [Operator instructions] We will now take our first question from Dan Perlin with RBC Capital Markets. If merchants are relying on separate vendors to their POS, e-commerce and payment solutions, as an example, they can create unnecessary complexity in their operations through valuable insights because of siloed data, generate extra work to reconcile these disparate systems and can end up paying more for them. We've now launched most products, but now we're tackling the biggest market for us, which is the U.S. And so if you look at our retail platform, we are launching this in the U.S. We launched a few verticals. We enabled the stores also now to have an automated descriptions and videos and pictures of the items they order instead of doing it manually. As you heard from JP, we remain cautious on where our customers' GTV heads from here given the backdrop and have set our plans with this cautiousness in mind. We're giving the terminals, we're buying out the contract, we're accommodating the same rates, we're sending people onsite because we want the experience to be good, because we know that once they use it, they will love it. I think for us, and again, I don't think we have any significant market share. And just kind of curious how that's been trending, given the higher LTV potential? That's why I'm not saying we want to own the entire market. Lightspeed continues to enjoy strong momentum from complex retailers and restaurant owners in North America Where is most of that sort of operating leverage going to come from when it comes to the opex line? And of course, that revenue line continues to decline, and we expect that to continue. With 150 locations, this California-based women's fashion franchise will be using our flagship offering with payments in 12 of their locations, with plans to roll out across the entire network. Total adjusted gross margin, which excludes the impact of share based compensation, came in at 48%, a slight increase from the previous quarter and roughly flat to last year. [Operator Instructions]. Where do you guys see that going over the next year as your base may need additional working capital to kind of keep things afloat in uncertain times? So we expect that the initiative will churn actually the lower customers and not the larger ones. In the first half of the year, however, we will be impacted by the launch costs associated with our unified payments offering, which we estimate will total approximately $12 million for the year, $7 million of which is expected to occur in the first half of the year. Now for us, this is a step one. In hospitality, we signed several multi-location and marquee customers, including Panos, one of the leading bakery groups in Belgium with 100 locations, which will adopt Lightspeed's flagship restaurant platform. This was a result of operating losses in the quarter, certain working capital movements and an increase in cash advances deployed for Lightspeed Capital. [Operator instructions] After the speakers' remarks, there will be a Q&A session. Good morning, guys, and thanks for taking the question. BlackRock Inc. 9 Mar 22. Thanks, Asha. Because of the growing number of customers on Payment, coupled with a strong quarter in hospitality, we saw healthy growth in Payments revenue. I just wanted to drill down a little bit on your commentary around payments really driving the -- offset potentially if clients weaken. And where can that go by the end of the year? The road to One Lightspeed was challenging, but rewarding. And there's always a delay between the moment you start selling well and then you control the whole flow of customers. Excluding the impact of equity acceleration included in restructuring, share-based compensation came in at $16 million, down substantially year-over-year from $41.6 million, coming in at approximately 9% as a percentage of revenue, down from 28% in the same quarter last year, and down from 18% in our previous quarter. And we're seeing heightened churn in those cohorts, and, and we're actually seeing really good adoption on the higher courts. So I'll maybe address this one. But with over $22 billion of GTV across our business in the quarter, we have plenty of opportunity still ahead. And then from that moment, we will then focus our account management teams on building conversion utilities and getting the base onto the new platform. I guess my question is, as you go out into the field, and you face resistance, whether it's businesses aren't ready to do it now, they're too busy, or they're happy with what they have, or they get price matching from other peers, is there a plan B? Can you talk a little more about the implementation? We enabled self-serve capital advances in our flagship product and expanded the offering to several new geographies, including the UK and New Zealand. We continue to see success in our target markets of complex SMBs, especially among higher GTV customers. And then for JP, you talked before about your push into the U.S. hospitality market on the back of the new hospitality platform and building out an in-person sales presence. I do apologize for your name. Yeah. The gap between us and our competitors has broadened, and we do not -- I mean, we see better close rates on the new products when we launched them. Please. With unified POS and payments, we are making the right investment and strategic decision to drive durable long term and profitable growth, positioning us to accelerate towards the rule of 40 financial metric as we exit this fiscal year. Our flagship products in retail and hospital, we see really strong attach rates there. Is this happening to you frequently? So yes, some good progress in the quarter on that. Hey, Tim. Lightspeed POS Inc. (LSPD) Q1 2022 Earnings Call Transcript And while we do expect inflation and continued softness in consumer spend will continue for the rest of the year, given our multiple growth levers, the diversity of our customer base and the payments opportunity ahead of us, we are confident in our ability to meet our previously established revenue outlook. As you've heard from us before, our focus remains on adding the right customers and monetizing GTV, not on maximizing our total location count. Put simply, embedding payments to a customer's POS system doubles the lifetime value of that customer at almost the same cost of acquisition. In North America, Lightspeed Payments delivers lower rates than competing solutions the vast majority of the time, giving me confidence that we can save our customers money, but we also wants to deliver a better service. Or is it largely consistent with what you've been seeing in prior periods? And so, that's why we're starting and we're going to be learning all year long as we continue to deploy. And we know that we have no significant market share for now. Our focus is to get as many of these locations onto our Payment solution as possible. However, I want to provide some further context to this number as we integrate our various acquisitions and get closer to having a single flagship product for both retail and hospitality. Last year, we committed to being adjusted EBITDA breakeven or better in our fiscal 2024. And there -- I mean, yeah, the growth rates are good and the demand is good. Overall revenue for Q1 was $173.9 million, ahead of guidance of $165 million to $170 million. And when you look at the churn of the segments that are not interesting to us, they're much higher. We believe that the high GMV merchants will actually love what we're doing because the bigger the merchant, the more they need automation, the more they need speed of transaction to check out, the more they're going to like unified payments because it is the best way to provide the best experience to your customers in a very fast and efficient way. More and more as we look at the higher GMV merchants, we're doing more and more outbound. Yeah. And here, I think there's enough new functionality and enough new features that we're going to see a natural progression of those customers moving over. But within that churn, if you look at the customers that are interesting to us, the churn is much lower. So, just digging in, wondering if you could talk a little bit more about if customers opt out, can you talk a little bit more about what sort of fee is involved if the customer does not or decides not to use Lightspeed Payments? | June 20, 2023 . Maybe the last thing I want to add on this is we're making it as easy as possible for them. Lightspeed Commerce Inc. (NYSE:LSPD) Q3 2023 Earnings Call Transcript And we will be sending people into the field to help our merchants get up and running on Lightspeed Payment. So it's a well understood, repeatable process we've been doing. We also believe that factors such as rising interest rates and persistent inflation are impacting retail more than hospitality as consumers prioritize spending in areas such as travel and entertainment. Discounted offers are only available to new members. Payment terminals will be provided at no cost to our customers. Of course, to your point, there is an impact on the revenue line, but we need to keep in mind that the majority of our revenues are still U.S. dollar-denominated. I think when we go down to gross profit or net revenue, it still holds, but maybe to a lesser extent. Can you speak to the headwind you're seeing from FX? And it's great for them because it's just easy access to funds. And I think that's kind of been happening all year round. Thank you, Gus, and welcome, everyone. And finally, with respect to our acquisitions, I'll speak quickly to our progress on our integration efforts. And so I think that for us, that's why we're very encouraged by the progress here. I don't really expect the guidance, but just kind of curious on how we should be framing that up moving forward. Obviously, that's right toward the middle of your longer-term model. And thanks to our strong travel market, our European region, which is heavily slanted toward hospitality, also had a strong quarter. And we've modelled the churn assumptions to levels that I think we've been very conservative. Because that launch is a bundle of basically hardware, software, analytics, and it's very, very adapted. So I think for me, the -- and as we said, we're cautious. I'm assuming we'll still get ARPU on a quarterly basis? But I think the good news here is when you look at the $200k cohort, that represents 5% of our GMV and represents I think 80% of our churn. And similar to last quarter, the vast majority of our overall customer churn is in the under $200,000 cohort. And I wanted to kind of go back to the unified payments and the POS initiative. But it does sound so long term positive for the business. Lightspeed Commerce (LSPD) Q4 2023 Earnings Call Transcript, Lightspeed Commerce (LSPD) Q3 2023 Earnings Call Transcript, Lightspeed Commerce (LSPD) Q2 2023 Earnings Call Transcript, Lightspeed Commerce (LSPD) Q4 2022 Earnings Call Transcript, Lightspeed POS Inc. (LSPD) Q3 2022 Earnings Call Transcript, Cumulative Growth of a $10,000 Investment in Stock Advisor, Join Over Half a 1 Million Premium Members And Get More In-Depth Stock Guidance and Research, Copyright, Trademark and Patent Information. May 18, 2023, 8:00 a.m. And despite the impact of challenges and uncertainty in the macroeconomic environment, for fiscal 2023, we had an annual net retention rate of approximately 110%. We get wonderful feedback from our merchants. And four, accomplish our goal of becoming adjusted EBITDA breakeven or better for the full fiscal year. LSPD Lightspeed Commerce Inc Q1 2023 Earnings Call Thanks. And in addition, they're much better positioned to weather any economic downturn. And we intend to place this company in a position that highlights the sheer potential of our business model, while still investing in our growth opportunities. After that, the last step in this journey for us is to move to Australia and New Zealand, which we've already done now on the retail front, but for the hospitality. Thanks, Brandon. So just wondering what you're thinking about for the rest of the year to keep it flat despite the Q1 beat? So anything to read back into that maybe with respect to the impact of the flagship platforms or other? Learn More, Lightspeed Commerce(LSPD 0.70%)Q12023 Earnings CallAug 04, 2022, 8:00 a.m. And, really, we spent a lot of time just making this better. Can you just maybe frame it up in the context of the customers you're going after, which seem to be more and more specific, which makes sense to me? . Next up, we have Daniel Chan with TD Securities. What you're going to see in the next quarters is we're going to complete the -- you will not have Upserve anymore. Just, Asha, when I look at 1Q and the guide, you had very nice ARPU. They use us to run their email campaigns, to manage their food, to manage their menus, to manage our kitchens, to manage back office, to manage I've always said it's the hidden side of the iceberg. Subscription-only ARPU was $136, up from approximately $113 a year earlier. Great. Lightspeed Commerce Inc. (LSPD) CEO Dax Dasilva on Q2 2022 Results OK. And then from a competitive landscape perspective, obviously, you're becoming much bigger. So, that is one of the blends that we're seeing is that we're seeing more and more outbound. So I think here, what you're seeing as a result of just the company globally, selling and onboarding and processing and delivering payments at the right pace. And what was the feedback that they provided to you on why they were leaving the POS system as you rolled out this unified payment solution? Maybe just to clarify, we expect lower churn in the higher GTV. Does that change in any way as you look to the rest of the year or have you seen good kind of feedback or receptivity in those initiatives? We've seen solid evidence of that. SC 13G/A. So as we mentioned last time, we were trying with salespeople with foot on the ground. And thinking about this in the full context of the year, can we consider any contributions from that in the full year guide or when does that you guys anticipate to kind of start gaining more traction? The split by vertical is still 60% retail, 40% hospitality. And so I think there's -- that's exactly what live feed is about -- doing more with less. We have heard from our merchant that they have seen noticeable uplift in their business operations when they use our entire suite of tools. And so, what that means is as more and more customers come on to Lightspeed Payments, we've already underwritten those customers. Lightspeed Commerce Inc. 2023 Q4 - Results - Earnings Call Presentation Our cash position in the quarter declined to $915 million from approximately $954 million in March. Moving forward, both new and existing customers will be asked to sign up for one cohesive and comprehensive product offering where Lightspeed Payment is embedded directly into their POS.
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