lightspeed earnings transcript

And as you've heard from Brandon, there are things that we can control, which is how many customers we migrate on to our payments platform, how quickly we get customers transactional. It's very simple, look at streets around the world and you look at the businesses in those streets. So yes, the short answer to your question is, yes, as we go to one Lightspeed that also means going to one product for hospitality and one product for retail. Look, we -- as you know, we have this strategy to one product. Hello, and welcome to the Lightspeed Fourth Quarter 2023 Earnings Call. Because now mobility comes at no cost, you don't have to now buy an extra payment terminal. I'll maybe take this one. We're not just a POS, we run their businesses. 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. So yes, some good progress in the quarter on that. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. But, overall, for fiscal 2023, Lightspeed delivered revenues of $730.5 million, an increase of 33% year-over-year. Thanks, everyone, for joining us today. If you look at your retail versus hospitality mix, as you're shifting towards the higher GTV locations, is there any shift in that dynamic? So that's definitely the right way to look at it. Yes. This was a result of operating losses in the quarter, certain working capital movements and an increase in cash advances deployed for Lightspeed Capital. Just being very clear, that's the scenario. Next, we have Josh Baer with Morgan Stanley. Your next question comes from Josh Beck with KeyBanc. And that 38% is right in the middle of that. 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. We want to own the more established Michelin star, fine dine, and also all restaurants associated to hotels and resorts and you've probably read the announcement there. We expect to be beneficiaries of AI, and we'll continue to explore how we can use it in other parts of the business to complement the exceptional work our teams are doing. And with that, we will take your questions. OK, that's great. Todd Coupland -- CIBC Capital Markets -- Analyst. Because that launch is a bundle of basically hardware, software, analytics, and it's very, very adapted. Lightspeed will meet this goal in fiscal 2024. These customers generally deliver higher ARPU, lower churn and superior lifetime value. One example of this is the fact that Lightspeed will now offer North American customers cash deposits within one business day, in contrast to some competitors typically taking twice as long. Overall customer locations increased by 1,000 from last quarter. But it does sound so long term positive for the business. This article is a transcript of this conference call produced for The Motley Fool. Transcript : Lightspeed Commerce Inc., Q4 2023 Earnings Call, May 18 As a result, we will only be disclosing location count on an annual basis. Transaction based revenue grew 49% to $99.6 million. In terms of profitability. ET Contents: Prepared Remarks Questions and. No, no, absolutely. But again, for us, the balance is important because we are seriously committed to making EBITDA breakeven or profitable next year. You heard from Asha that we're taking a pretty cautious view of how that looks through the rest of the year. We continue to see some of our verticals within retail face challenging conditions as consumers continue to prioritize experiences. Your next question from Richard Tse with National Bank Financial. So we are right now building the plans now that we have the plumbing that's done. And then if I could maybe squeeze one in. Lightspeed Supplier Network is our key strategic initiative, and represents one of the most significant R&D investments. That's why I'm not saying we want to own the entire market. In the world of hospitality, we were honored to find two locations from Jol Robuchon Group, one in Morocco and one in their newest concepts in Monaco. Adjusted EBITDA loss came in at $33.9 million. But with over $22 billion of GTV across our business in the quarter, we have plenty of opportunity still ahead. Yeah, we've -- given the macro backdrop, of course, we're cautious on where customer volumes go from here. I think the foot on the ground for us is only in the U.S. only for hospitality. A few examples. Welcome to Lightspeed's fiscal Q1 2023 conference call. We enabled self-serve capital advances in our flagship product and expanded the offering to several new geographies, including the UK and New Zealand. So I think, for us, we want to be cautious again in how we do it. Can you just detail how it sort of changes from what you've been doing to date with Payments that's gotten the Payment attach up to 19%? Your next question comes from the line of Josh Baer of Morgan Stanley. We really understand all the economics very well. Obviously, that's right toward the middle of your longer-term model. We undertake no obligation to update these statements, except as required by law. 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. The restaurateurs, the retailers are focusing again on technology for in-store, but they still have at the back of their mind, oh, there is also the omni-channel world. It helps make the whole platform more sticky. However, things like retail spend from an average GTV perspective, things like hospitality spend, how inflation will impact consumer spending, these things are out of our control. Where is most of that sort of operating leverage going to come from when it comes to the opex line? 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. And so, it was not mandatory for new customers. Hi. Although we will not see any direct financial contributions from Lightspeed Supplier Network this year, we do expect it will improve our close rates and lower customer acquisition costs. Yeah. We've also -- we just have this tremendous opportunity inside our existing base of customers. All lines have been placed on mute to prevent any background noise. A couple of questions for me. 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. We announced a few very large retailers and restauranteurs that have been moving to Lightspeed that we acquired in the quarter. Lightspeed Commerce Inc. (LSPD) Q3 2023 Earnings Call Transcript | June 20, 2023 . And we continue to roll out our payments to all paid ecommerce standalone customers in the US, with plans to expand into Canada in Q2. And as you know, we're going to be accommodating the rate. In addition, we began to see the benefits of the recent restructuring. Gastrofix and our other acquisitions into Lightspeed and believe there are substantial growth synergies that will stem from these activities. Yes, I'll take that one. Yeah. We believe our balanced approach to growth and profitability is the right one, given the opportunity we see ahead, the strength of our balance sheet and our desire to run a disciplined long-term business. So that's how we're looking at it right now is rule of 40, is going to be always weighted towards growth. I'm assuming we'll still get ARPU on a quarterly basis? And that means we will only develop one version of our software instead of having all these integrations with all these different partners, one version of our software that'll provide value to every single one of our customers. In addition, we continue to focus on finding efficiencies across the business through continuous integration of previously acquired businesses, as Brandon mentioned, and we continue to remain disciplined and intentional on operating expenditures, reducing spend in lower priority areas. We also remain focused on growing our share of this significant market opportunity with 166,000 customer locations, excluding stand-alone e-commerce customers brought on through the Ecwid acquisition, we believe we have substantial opportunities still ahead. Yeah. And as we've said before, our main focus is on finding and winning the customers with the best long-term value for us. As I said, we're going to start with retail in the US, which is our biggest vertical, and the biggest concentration of customers and we'll move to hospitality in the US, and then we're going to move to Europe and APAC. But we're going to take the majority of our go-to-market people and say, instead of selling software to our customers, we're going to move them to payments. Lighted Capital had its strongest quarter yet, with revenue growth of over 200% versus our fourth quarter of last year. So even though we are diversified, the majority of the net revenue is still U.S. dollar denominated. Subscription and transaction based revenues grew by 28% or 30% on a constant currency basis. So we are now going to move the needle and double the size of the LTV and continue pushing on that front. We've been working with our partners there to be sure we have the right volumes. A lot of our customer chat flows are driven by AI. We've seen solid evidence of that. 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? Image source: The Motley Fool.Lightspeed Commerce (NYSE: LSPD)Q1 2023 Earnings CallAug 04, 2022, 8:00 a.m. ETOperatorContinue readingRead more on . In addition to executing our payments opportunity, I believe Lightspeed is benefiting from two other strong trends in the industry, which is currently dominated by legacy systems. Please. So I think, again, for me, the answer here is Lightspeed is well balanced. So it should be a full net positive for our customers. The subscription yield was up really nicely in 4Q. And lastly, one of the primary benefits from our acquisitions has been the addition of some of the industry's most talented people. And as you know, we're focused on the more established ones, the one who have higher GMV and our direct addressable TAM, if you look at the industries where we operate is about 6 million. Just any change in KPIs you can share with us, such as like inbounds, conversion rates, etc., would be helpful. We've committed to 35% to 40% organic growth in the year. Aug. 3 Estimated Actual EPS (May. I think we are the go-to everywhere in the world for more established merchants. Subscription-only ARPU was $136, up from approximately $113 a year earlier. Please go ahead. Our omni-channel balance has proven to be well-positioned to accommodate the ongoing shift from e-commerce to in-store and our hospitality presence is benefiting from the rebound in restaurant spend globally. Great. And actually, what we see and we see it actually in COVID is in the context of recessions or difficulties with our customers, they normally want to buy more than one product. Subordinate Voting Shares' (LSPD) CEO Dax Dasilva on Q4 2021 Results - Earnings Call Transcript May 20, 2021 1:04 PM ET Lightspeed Commerce Inc. (LSPD), LSPD:CA. . Today, we've reached a point where if we want to provide our customers the best possible experience to scale their businesses, it is important for us to think about payments and POS platform as one unified product. Joining me today are JP Chauvet, Lightspeed's chief executive officer; Brandon Nussey, Lightspeed's chief operating officer; and Asha Bakshani, our chief financial officer. And on that front, it's very much in line with what our beliefs were. Lightspeed CEO breaks down Q4 earnings, sector growth, luxury spending They are one platform. Your next question comes from the line of Tien-Tsin Huang of J.P. Morgan. So what we're doing here and synergies, we're bringing everybody to one flagship product. 2021 Q2. Before I turn it over to JP, I would like to remind everyone that we will be hosting a webcast on our new flagship retail offering, Lightspeed Retail scheduled on August 30 at 2:00 PM, Eastern Standard Time. As you launched the payments initiative globally, given some of the hand holding you might need to do, might you start deploying direct sales in other geographies as well? How are you thinking about your CAC? Yeah. We've made good progress in making our Payment solutions available to the vast majority of our customer base outside of Ecwid. Adjusted gross profit dollars came in at $87.8 million, an increase of 22% year-over-year. | May 23, 2023 . There no further questions at this time. Obviously, a lot more to do, but I'm pretty pleased with the early outcomes on some of those initiatives for us. And then from there, we send them to our onboarding teams. Integration, leverage comes from not only teams and integrating our people, but also from contracts. These features are currently rolled out to hundreds of customers, and we have received exceptional feedback on our efforts so far. And when you look at the churn of the segments that are not interesting to us, they're much higher. This year, we also expect to continue to grow our capital business. No, that's great. Look, for me, it's very simple. The second thing we see is that vendors want to consolidate on to one. And so, what that means is as more and more customers come on to Lightspeed Payments, we've already underwritten those customers. With an increased focus on execution and because of the various growth levers at our disposal, we believe Lightspeed can maintain strong growth through challenging conditions. As we think through the summer and these macro headwinds that you're talking about, some concerns on Europe, is there anything for us to think about for that region into the fall? We will pay for existing contracts where it is reasonable to do so. I believe we have the most compelling products in the market, particularly for our target customer base. Latest ownership filings. Yes, yes. Expanding our payments offering to more locations and industries helped offset the weakness we saw in certain retail verticals. And what is the FX impact in the guidance today? With that, I will now turn the call over to JP. Going deeper into our results reported today. The most important part is that these products are brand new. Hospitality GTV more than offset this as consumers resume spending on travel and dining out across the globe. We are being cautious and the way we forecast it is a very cautious way. Thanks for the question. Just curious if there's any call out there. Gross profit dollars grew by 35% in Q1 from the same period a year ago. In the interest of time, I will focus most of my comments on the quarter versus the full fiscal year. Please go ahead. Youre reading a free article with opinions that may differ from The Motley Fools Premium Investing Services. I'm just wondering how you guys are thinking about that macro headwind and how it's impacting your hiring plans, if you have any, if you can share them and any issues around compensation with the share prices down? And we decided to take that approach so that we can learn and we can iterate and we can create value. And it's certainly a huge market, especially given your international footprint. So overall strengthening USD is helpful for Lightspeed. 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. Thank you. So we're seeing good adoption from new customers. Definitely saw in the quarter. I would now like to turn the call over to Gus Papageorgiou. Finally, I will end with our outlook for our Q2 fiscal 2023 and for the full fiscal year ahead. So we're adjusting the model. And we look forward to speaking to you again after our next quarter. Market-beating stocks from our award-winning analyst team. OK. And just a last quick one here. Capital continues to be one of our highest growth margin businesses, even surpassing software, and still maintains very low default rates. Lightspeed POS Inc. (NYSE: LSPD) Q1 2022 Earnings Call Aug 05, 2021, 8:00 a.m. One thing that we should be wary of or we want to remind the public of is we had a very strong Q1 last year. Thanks, Brandon. Thank you for taking the question. Volatility profiles based on trailing-three-year calculations of the standard deviation of service investment returns. Asha will take you through the numbers behind this rollout, but, first, let me reiterate that with our unified payments and POS offering, we expect to accelerate our GPV as a percentage of GTV during fiscal 2024. And we are going to run the business on looking at sales efficiency. I believe it was 38%. Hospitality GTV remain strong as consumers continue to dine out and travel. We have algorithms that determine the amount of merchant cash that we advance to each merchant that they're eligible for. 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. Appreciate the color. We're also thrilled that sandals all-inclusive Caribbean resort in Jamaica, St. Lucia and the Bahamas joined the Lightspeed family. Merchants who currently use our embedded payments and POS platforms have shown us the value we have added to their business. And with that in place, we're now doubling down on our efforts to drive payments uptake across our install base, along with as many new customers globally as possible. Asha will then take us through the financials and outlook, and I'll wrap it up before we go into Q&A. We have already launched payments now and we have a couple of months under our belt globally. And within Lightspeed B2B, we were happy to add a world-renowned luxury brand, Michael Kors. In retail, we're pleased to welcome Eastern National, an entity that operates 127 locations across America's national parks. These industry-leading platforms are exclusively selling these two products. After all, the newsletter theyhave run for over a decade, Motley Fool Stock Advisor, has tripled the market.*. Your first question comes from the line of Daniel Chan of TD Cowen. For the full fiscal 2023 year, we maintain our previously established outlook on revenues at $740 million to $760 million and adjusted EBITDA loss of approximately $35 million to $40 million or 5% of revenue at the mid-range of our guidance, which has improved from 8% last year. So you'll get that from us yearly. On payments, and especially with the unified payments approach, in some cases, we're giving our customers a quarter to move because the larger ones takes a lot of time to deploy. Just with that context, could you maybe just give some context on what was the FX impact in the original guidance for revenue for the year? Any update to how you're thinking about the approach in go-to-market in the macro environment? I think we are the go to globally for retail. And then as a follow-up, you performed really well in Europe in the quarter, citing hospitality and people traveling. With respect to payments over the next, call it, 12 to 24 months, do you expect it to continue increasing at the same pace or actually accelerate given the number of initiatives you have underway now? What date does Lightspeed POS's (LSPD) report Earnings - Earnings Is that going to be same around the world? And maybe just as an example here, the point of sale, which is on the iPhone is also your payment terminal. Furthermore, as we continue to realize ongoing synergies, we plan to reinvest in core areas of the business, allowing us to invest in growth areas while improving EBITDA performance throughout the upcoming year. Lightspeed payments is now available to most of our customer base and our go-to-market teams are more experienced than ever in selling that offer. If I can kind of just slip another one in, I'm kind of also curious to see, of the proportion of your customers that have adopted payments, how many of those, on a percentage basis, have taken on Capital? For the full year of fiscal 2024, we expect total revenues of between $875 million and $900 million, with breakeven adjusted EBITDA.
Master-planned Communities Fort Lauderdale, Uptown Cocktail Recipe, Compton Executioners Logo, Short-term Disability For Cataract Surgery, Lusk Elementary School, Articles L