Slide 1: Second Quarter FY2022 Results
Second Quarter FY2022 Results November 4, 2021
Slide 2: Disclaimer
Disclaimer General All references in this presentation to the “Company”, “Lightspeed”, “us” or “we” are to Lightspeed Commerce Inc (formerly Lightspeed POS Inc.). All references in this presentation to dollars, “$” or “US$” are to United States dollars, and all references to Canadian dollars and “C$
Slide 3: Lightspeed at-a-glance
Lightspeed at-a-glance $18.8B Q2’22 Gross Transaction Volume (“GTV”) (4) ~156,000 (3)(4) Customer Locations (1) (4) >100 (1) ~$270 ARPU Countries 93% $133.2M Recurring Subscription & Q2’22 Revenue Transaction-based (2) Revenue (Q2’22) 193% (1) As of September 30, 2021 (2) 3-months ended September 30
Slide 4: Lightspeed's cloud platform is powering the future of commerce
Lightspeed’s cloud platform is powering the future of commerce 4
Slide 5: A Comprehensive Commerce OS for Sophisticated Independent Businesses
A Comprehensive Commerce OS for Sophisticated Independent Businesses Suppliers Lightspeed Merchant Platform Consumers Comprehensive Omni-Channel Payments & Back-Office Suite Reach Financing Manage your operations with Engage with your customers Tailored financial ease, no matter the complexity where
Slide 6: Track Record of Innovative Solutions for the Evolving Needs of Independent Merchants
Track Record of Innovative Solutions for the Evolving Needs of Independent Merchants A History of Transformative Innovation in Commerce… Mac-Based Mobile- Cloud- POS Omni-Channel Reporting Home Delivery Loyalty Lightspeed Retail POS Based POS Based POS Solutions for Engagement and Payments Solutions
Slide 7: Lightspeed Supplier Network
Lightspeed Supplier Network Connecting merchants with suppliers and democratizing the supply chain Supply Chain Visibility: Provides direct supplier access and inventory visibility through a single platform Automation: Automates manual ordering and consolidates supplier portals into the POS, shorten
Slide 8: Notable New Customers
Notable New Customers The Locarno Film Festival in The Original Pancake House. Lightspeed Switzerland, the annual film festival The Australian Football League. analytics and inventory management that has been running since 1946. Lightspeed is now the official platform of were the key reason this fam
Slide 9: Lightspeed's Multiple Growth Vectors
Lightspeed’s Multiple Growth Vectors • Significant potential to increase penetration of our TAM, attract new customers and Expand Customer Location drive customers to adopt cloud-based systems in place of legacy systems Footprint • Expand in existing markets and target new geographies and verticals
Slide 10: Financial Overview
Financial Overview
Slide 11: Financial Model Characteristics
Financial Model Characteristics Features Benefits 93% Recurring Subscriptions Recurring Payments Recurring Subscription & (1) Transaction-based Revenue New customers More locations More modules % of transaction volume Growth in Average Revenue / Customer(2) Location (ARPU) Positive Net Dollar Retent
Slide 12: The Lightspeed Payments Opportunity
The Lightspeed Payments Opportunity • Lightspeed Payments had its strongest quarter yet with higher revenues than any other quarter Currently Processed through our our Payments Solutions $18.8B Q2’22 GTV ~11%(1) Long-Term GTV Opportunity Launch Date Payments Penetration Rate (2) (1) For the three mo
Slide 13: Diverse, High-Quality, Growing Customer Base
Diverse, High-Quality, Growing Customer Base Total Customer Locations Total Customer Locations 56% CAGR ~119,000 ~156,000 ~76,500 >80,000 >49,000 56% 95% y/y y/y 56% 20% y/y y/y Fiscal 2019 Fiscal 2020 Fiscal 2021 Q2’21 Q2’22 (1) (1) GTV (in $B) GTV (in $B) 53% CAGR $18.8 $33.7 $22.3 51% $8.5 123% $
Slide 14: Global Footprint with Strength Across Diversified End Markets
Global Footprint with Strength Across Diversified End Markets Diversified Merchant Base Across Geographies and Verticals Restaurant / (1 Hospitality (1) (1) Scale in Highly Fragmented ) 38% Europe & ROW (1) 47% North America Markets Retail (1) 53% 62% Leadership Position in North American Market wit
Slide 15: Shifting Sales Mix – Growing ARPU
Shifting Sales Mix – Growing ARPU Q2’21 10% Average Revenue Per User (ARPU) Subscription ~ $270 Transaction-based 34% 56% Hardware & other > $170 Q2’22 7% 44% Subscription Q2’21 Q2’22 Transaction-based Hardware & other 49% 15
Slide 16: Strong Revenue Growth
Strong Revenue Growth Total Revenue (in $M) Total Revenue (in $M) 69% CAGR $221.7 $133.2 $120.6 84% 193% $77.5 y/y $45.5 y/y 56% 36% y/y y/y Fiscal 2019 Fiscal 2020 Fiscal 2021 Q2’21 Q2’22 Subscription and Transaction- Subscription and Transaction- Based Revenue (in $M) Based Revenue (in $M) 72% CAG
Slide 17: Improving Profitability
Improving Profitability (1) (1) Adjusted EBITDA (in $M) Adjusted EBITDA (in $M) $(2.8) $(13.1) $(21.7) $(21.2) $(8.7) Fiscal 2019 Fiscal 2020 Fiscal 2021 Q2’21 Q2’22 Net Loss $(183.5) $(53.5) $(124.3) Net Loss $(19.5) $(59.1) (1) (1) Adjusted EBITDA Adjusted EBITDA as % of Revenue as % of Revenue (9
Slide 18: Investment Highlights
Investment Highlights Leading global cloud omni-channel commerce platforms powering independent businesses in the new digital economy Large total addressable market mainly served by legacy systems poorly equipped to support migration to cloud Strong and consistent growth with vast majority of revenu
Slide 19: APPENDIX A
APPENDIX A 19
Slide 20: Appendix A – Industry Metrics
Appendix A – Industry Metrics “Average Revenue per User” or “ARPU” represents the total subscription revenue and transaction-based revenue of the Company in the period divided by the number of Customer Locations of the Company in the period. For greater clarity and consistent with how we have histor
Slide 21: Appendix A – Industry Metrics (Cont'd)
Appendix A – Industry Metrics (Cont’d) Adjusted EBITDA is defined as net loss excluding interest, taxes, depreciation and amortization, or EBITDA, as adjusted for stock-based compensation and related payroll taxes, compensation expenses relating to acquisitions completed, foreign exchange gains and
Slide 22: Appendix A – Industry Metrics (Cont'd)
Appendix A – Industry Metrics (Cont’d) 1. This loss is with respect to the change in valuation of our Redeemable Preferred Shares from period to period, which is a non-cash item. Prior to the completion of our initial public offering on March 15, 2019, all of our Redeemable Preferred Shares were con
Slide 23: IR contact
IR contact investorrelations@lightspeedhq.com