Lightspeed Commerce Inc · TSX:LSPD
Lightspeed Commerce — Q1 FY2023 Earnings Presentation
25 slides from Lightspeed Commerce's earnings presentation, Aug 4, 2022
Slide 1: First Quarter FY2023 Results
First Quarter FY2023 Results August 4, 2022
Slide 2: Disclaimer
Disclaimer General All references in this presentation to the “Company”, “Lightspeed”, “us” or “we” are to Lightspeed Commerce Inc. All references in this presentation to dollars, “$” or “US$” are to United States dollars, and all references to Canadian dollars and “C$” are to Canadian dollars. Caut
Slide 3: Lightspeed at-a-glance
Lightspeed at-a-glance (3) $22.1B ($21.5B Excluding Ecwid)(4) (1)(3) Q1’23 Gross Transaction Volume ~326,000 (“GTV”) (~166,000 Excluding Ecwid)(4) Customer Locations (3) (1)(3) $3.3B ~$170 Q1’23 Gross Payment (~$320 Excluding Ecwid)(4) Volume (“GPV”) ARPU $173.9M 95% Q1’23 Revenue Recurring Subscrip
Slide 4: Lightspeed ignites businesses everywhere
Lightspeed ignites businesses everywhere. 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 ease, Engage with your customers Tailored financial 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… …accelerating in 2022 Mac-based Mobile- Cloud- Payments Retail POS based POS based POS for Golf solutions solutions solutions Reporting POS B2B Omnichannel and sol
Slide 7: B2B Platform
B2B Platform • B2B Platform - Initial release in June, 2022. • Groundbreaking network that will connect brands and retailers, enabling businesses to discover new products, gain insights, and access product catalogs and integrated ordering on one network. • Verticals include fashion, apparel, footwea
Slide 8: Notable new customers
Notable new customers Kualoa Ranch in Oahu, Hawaii, recently One of Belgium’s largest bakery Parker Palm Springs, one of North joined Lightspeed using Lightspeed’s groups, Panos, has 30 years of America’s premiere independent luxury flagship retail offering, e-commerce, experience serving the Belgia
Slide 9: Lightspeed's multiple growth vectors
Lightspeed’s multiple growth vectors • Significant potential to increase penetration of our total addressable market, attract new Expand Customer Location customers and drive customers to adopt cloud-based systems in place of legacy systems Footprint • Expand in existing markets and target new geogr
Slide 10: Financial overview
Financial overview
Slide 11: Financial model characteristics
Financial model characteristics Features Benefits Recurring Subscriptions + Recurring Payments = 95% Recurring Subscription & New customers More locations More modules % of transaction volume Transaction-based Revenue(1) Excluding Ecwid(2), Growth in Average Revenue / Customer Location (ARPU)(3) Fir
Slide 12: The Lightspeed Payments opportunity
The Lightspeed Payments opportunity Currently processed through our our Payments Solutions (1) $3.3B $22.1B ($21.5B Excluding Ecwid)(2) Q1’23 GTV Launch Date Gross Payment Volume (“GPV”) Long-Term GTV Opportunity (1) GTV does not represent revenue generated by Lightspeed. See Appendix A. 12 (2) Excl
Slide 13: Diverse, high-quality, growing customer base
Diverse, high-quality, growing customer base (1) (1) Total Customer Locations Total Customer Locations 46% CAGR ~163,000 ~166,000 >150,000 ~119,000 ~76,500 37% y/y 11% 56% 56% y/y y/y y/y Fiscal 2020 Fiscal 2021 Fiscal 2022 Q1’22 Q1’23 (2)(3) (2)(3) GTV (in $B) GTV (in $B) 80% CAGR $72.5 $21.5 $16.3
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) Hospitality (1 (1) (3) (1) (3) Scale in Highly ) (2) (1) 38% Europe & ROW North America Fragmented Markets Retail 49% 51% 62% Leadership Position in North American Market
Slide 15: Shifting sales mix – growing ARPU
Shifting sales mix – growing ARPU Q1’22 8% (1) Average Revenue Per User (ARPU) 43% Subscription Transaction-based Hardware & other ~ $320 49% > $230 39% Q1’23 y/y 5% 42% Subscription Transaction-based Q1’22 Q1’23 Hardware & other 53% (1) ARPU excludes Customer Locations attributable to the Ecwid eCo
Slide 16: Strong revenue growth
Strong revenue growth Total Revenue (in $M) Total Revenue (in $M) 113% CAGR $548.4 $173.9 $115.9 147% 50% $221.7 y/y y/y $120.6 84% 56% y/y y/y Fiscal 2020 Fiscal 2021 Fiscal 2022 Q1’22 Q1’23 Subscription and Transaction- Based Revenue (in $M) Subscription and Transaction- Based Revenue (in $M) 119%
Slide 17: Profitability
Profitability (1) (1) Adjusted EBITDA (in $M) Adjusted EBITDA (in $M) Fiscal 2020 Fiscal 2021 Fiscal 2022 Q1’22 Q1’23 $(6.0) $(21.7) $(21.2) $(41.5) $(15.6) Net Loss $(53.5) $(124.3) $(288.4) Net Loss $(49.3) $(100.8) (1) (1) Adjusted EBITDA as % of Revenue Adjusted EBITDA as % of Revenue Fiscal 202
Slide 18: Investment highlights
Investment highlights • The one-stop commerce platform for merchants around the world to simplify, scale and provide exceptional customer experiences • Large total addressable market mainly served by legacy systems poorly equipped to deal with an omnichannel, post- Covid economy • Strong and consist
Slide 19: APPENDIX A
APPENDIX A
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, the number of Customer Locations of t
Slide 21: APPENDIX B
APPENDIX B
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: Contact us
Contact us investorrelations@lightspeedhq.com
Lightspeed Commerce — Q1 FY2023 Earnings Presentation on 6ix