Slide 1: Fourth Quarter and Full Year 2022 Results
Fourth Quarter and Full Year 2022 Results May 19, 2022
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 (3)(4) $18.4B ($17.6B Excluding Ecwid) (1)(3)(4) Q4’22 Gross Transaction ~323,000 Volume (“GTV”) (~163,000 Excluding Ecwid) Customer Locations (1) (3)(4) (3) ~$145 $2.2B (~$270 Excluding Ecwid) Q4’22 Gross Payment ARPU Volume (“GPV”) 94% $146.6M Recurring Subscription & Q4’22
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 …accelerating in 2022 innovation in commerce… Mac-based Mobile- Cloud- Lightspeed Retail POS based POS based POS Capital solutions solutions solutions Reporting POS Lightspeed Omnichannel
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 Table, Paris is a 2 star Michelin With 21 locations across Minnesota 1858 Caesar Bar is a bar dedicated to restaurant and one of Forbes 10 and Wisconsin, Goldy’s Locker room is the popular classic Canadian cocktail Coolest Restaurants for 2021. Chef the official store of the Mi
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 94% Recurring Subscriptions Recurring Payments Recurring Subscription & (1) Transaction-based Revenue New customers More locations More modules % of transaction volume Excluding Ecwid(2), Growth in Average Revenue / Customer Location (ARPU) (3) Posit
Slide 12: The Lightspeed Payments Opportunity
The Lightspeed Payments Opportunity GPV of $2.2B, representing growth of 132%(4) YoY. Currently processed through our our Payments Solutions $18.4B ($17.6B Excluding Ecwid)(3) Q4’22 GTV ~13%(1) Long-Term GTV Opportunity Launch Date Payments Penetration Rate (2) (1) In the month of March 2022 (2) Key
Slide 13: Diverse, High-Quality, Growing Customer Base
Diverse, High-Quality, Growing Customer Base (1) Total Customer Locations (1) Total Customer Locations 46% CAGR ~163,000 ~163,000 ~119,000 ~119,000 37% ~76,500 y/y 37% 56% y/y 56% y/y y/y Fiscal 2020 Fiscal 2021 Fiscal 2022 Q4’21 Q4’22 (2)(3) (2) (3) GTV (in $B) GTV (in $B) 80% CAGR $17.6 $72.5 $10.
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 (1) (2) (1 Hospitality (1) (3) (1) (3) Scale in Highly Fragmented (1) ) (2) 37% Europe & ROW North America Markets Retail 49% 51% 63% Leadership Position in North American Market
Slide 15: Shifting Sales Mix – Growing ARPU
Shifting Sales Mix – Growing ARPU Fiscal 2021 9% (1) Average Revenue Per User (ARPU) Subscription Transaction-based ~ $270 37% 54% Hardware & other > $200 35% Fiscal 2022 y/y 7% 45% Subscription Transaction-based Q4’21 Q4’22 Hardware & other 48% (1) ARPU excludes Customer Locations attributable to t
Slide 16: Strong Revenue Growth
Strong Revenue Growth Total Revenue (in $M) Total Revenue (in $M) 113% CAGR $548.4 $146.6 147% $82.4 $221.7 y/y 78% $120.6 84% y/y 56% y/y y/y Fiscal 2020 Fiscal 2021 Fiscal 2022 Q4’21 Q4’22 Subscription and Transaction- Based Revenue(in $M) Subscription and Transaction- Based Revenue (in $M) 119% C
Slide 17: Improving Profitability
Improving Profitability (1) (1) Adjusted EBITDA (in $M) Adjusted EBITDA (in $M) $(9.6) $(21.7) $(21.2) $(19.7) $(41.5) Fiscal 2020 Fiscal 2021 Fiscal 2022 Q4’21 Q4’22 Net Loss $(53.5) $(124.3) $(288.4) Net Loss $(42.0) $(114.5) (1) (1) Adjusted EBITDA Adjusted EBITDA as % of Revenue as % of Revenue
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 B
APPENDIX B 21
Slide 22: Appendix B – Non-IFRS Measures and Ratios
Appendix B – Non-IFRS Measures and Ratios The information presented within this presentation includes certain financial measures and ratios such as “Adjusted EBITDA”, and "Adjusted EBITDA as a percentage of revenue". These measures and ratios are not recognized measures and ratios under IFRS and do
Slide 23: Appendix B – Non-IFRS Measures and Ratios (Cont'd)
Appendix B – Non-IFRS Measures and Ratios (Cont’d) Adjusted EBITDA is defined as net loss excluding interest, taxes, depreciation and amortization, or EBITDA, as adjusted for share-based compensation and related payroll taxes, compensation expenses relating to acquisitions completed, foreign exchang
Slide 24: Appendix B – Non-IFRS Measures and Ratios (Cont'd)
Appendix B – Non-IFRS Measures and Ratios (Cont’d) (1) These expenses represent non-cash expenditures recognized in connection with issued stock options and other awards under our equity incentive plans to our employees and directors as well as related payroll taxes given that they are directly attr
Slide 25: IR contact
IR contact investorrelations@lightspeedhq.com