Lightspeed Commerce Inc · TSX:LSPD

Lightspeed Commerce — Q2 FY2023 Earnings Presentation

27 slides from Lightspeed Commerce's earnings presentation, Nov 3, 2022

  1. Slide 1: Second Quarter FY2023 Results

    Second Quarter FY2023 Results November 3, 2022

  2. 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

  3. Slide 3: Lightspeed at-a-glance

    Lightspeed at-a-glance (3) (1)(3) $21.7B Q2’23 Gross Transaction Volume (“GTV”) ~167,000 (Excluding Ecwid)(4) Customer Locations (Excluding Ecwid)(4) (1)(3) (3) ~$337 $3.7B ARPU Q2’23 Gross Payment (Excluding Ecwid)(4) Volume (“GPV”) $183.7M (2) 96% Q2’23 Revenue 38% Recurring Subscription & YoY Rev

  4. Slide 4: Lightspeed ignites businesses everywhere.

    Lightspeed ignites businesses everywhere. 4

  5. 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

  6. 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- Advanced Retail POS based POS based POS Insights solutions solutions solutions Reporting POS B2B Omnichannel and sol

  7. 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

  8. Slide 8: Notable new customers

    Notable new customers The Consulate is a hot-spot French L’Osteria has over 130 locations in Spa L'Occitane is a five star resort and casual fine-dining restaurant located on Germany and is expanding through spa in France that is adopting Lightspeed the Upper West Side of Manhattan. Europe. They hav

  9. Slide 9: Lightspeed's multiple growth vectors

    Lightspeed’s multiple growth vectors Accelerate ARPU Expansion by • Existing customers are adopting additional modules as they grow • Moving to two core platforms (Retail & Restaurant) should allow for Introducing New Modules greater module adoption • Highly complementary to current offering and all

  10. Slide 10: Financial overview

    Financial overview

  11. Slide 11: Financial model characteristics

    Financial model characteristics Features Benefits Recurring Subscriptions + Recurring Payments = 96% 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) (4)

  12. Slide 12: The Lightspeed Payments opportunity

    The Lightspeed Payments opportunity Currently processed through our our Payments Solutions (1) $3.7B $22.3B ($21.7B Excluding Ecwid)(2) Q2’23 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

  13. 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 ~167,000 ~156,000 ~119,000 ~76,500 37% y/y 7% 56% 56% y/y y/y y/y Fiscal 2020 Fiscal 2021 Fiscal 2022 Q2’22 Q2’23 (2)(3) (2)(3) GTV (in $B) GTV (in $B) 80% CAGR $72.5 $21.7 $18.8

  14. 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) (2) (1) (2) Scale in Highly ) (2) (1) 38% Europe & ROW North America Fragmented Markets Retail 48% 52% 62% Leadership Position in North American Market

  15. Slide 15: Growing with the right customer mix

    Growing with the right customer mix 175,000 Customer Locations by GTV Tier 150,000 GTV is growing faster than Customer Locations Lightspeed's customer base continued to shift 125,000 towards higher GTV locations Customer Locations with GTV of over $500,000/ 100,000 1M + year(1) increased ~25% year-o

  16. Slide 16: Shifting sales mix – growing ARPU

    Shifting sales mix – growing ARPU Q2’22 7% (1) Average Revenue Per User (ARPU) 44% Subscription Transaction-based Hardware & other ~ $337 49% ~ $270 25% Q2’23 y/y 4% 41% Subscription Transaction-based Q2’22 Q2’23 Hardware & other 55% (1) ARPU excludes Customer Locations attributable to the Ecwid eCo

  17. Slide 17: Strong revenue growth

    Strong revenue growth Total Revenue (in $M) Total Revenue (in $M) 113% CAGR $548.4 $183.7 $133.2 147% 38% $221.7 y/y y/y $120.6 84% 56% y/y y/y Fiscal 2020 Fiscal 2021 Fiscal 2022 Q2’22 Q2’23 Subscription and Transaction- Based Revenue (in $M) Subscription and Transaction- Based Revenue (in $M) 119%

  18. Slide 18: Profitability

    Profitability (1) (1) Adjusted EBITDA (in $M) Adjusted EBITDA (in $M) Fiscal 2020 Fiscal 2021 Fiscal 2022 Q2’22 Q2’23 $(21.7) $(21.2) $(41.5) $(8.7) $(8.5) Net Loss $(53.5) $(124.3) $(288.4) Net Loss $(59.1) $(79.9) (1) (1) Adjusted EBITDA as % of Revenue Adjusted EBITDA as % of Revenue Fiscal 2020

  19. Slide 19: 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

  20. Slide 20: APPENDIX A

    APPENDIX A

  21. Slide 21: 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

  22. Slide 22: APPENDIX B

    APPENDIX B

  23. Slide 23: 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”, "Adjusted EBITDA as a percentage of revenue", "Revenue at constant currency", and "Revenue growth at constant currency". These measur

  24. Slide 24: 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

  25. Slide 25: 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

  26. Slide 26: Appendix B – Non-IFRS measures and ratios (cont'd)

    Appendix B – Non-IFRS measures and ratios (cont’d) Revenue at constant currency means revenue adjusted for the impact of foreign currency exchange fluctuations. Current revenue in currencies other than US dollars is converted into US dollars using the average monthly exchange rates from the correspo

  27. Slide 27: Contact us

    Contact us investorrelations@lightspeedhq.com

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