Slide 1: Fourth Quarter FY2023 Results
Fourth Quarter FY2023 Results May 18, 2023
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: At-a-glance - Q4'2023
At-a-glance - Q4'2023 $184.2 $3.8 24% $20.2 (1) (2) (1)(5) million billion growth (1)(3) billion in ARPU YoY to ~$335 Q4’23 revenue Q4’23 Gross Payments (Excluding Ecwid) (4) Q4’23 Gross Transaction Volume (“GPV”) Volume (“GTV”) 26% 70% 95% 13% (6) (6) (2)(7) recurring or growth growth reoccurring g
Slide 4: Big picture
Big picture Gross Payments Volume grew 70%(1) YoY to $3.8 billion(2) Annual Net Retention Rate of ~110%(3)(4) 28%(1) YoY increase in subscription and transaction-based revenue Gross profit of $87.0 million(2) grew 25%(1) YoY (1) Three months ended March 31, 2023 vs March 31, 2022. (2) For the three
Slide 5: Quarterly and full-year results and outlook
Quarterly and full-year results and outlook Results Outlook(2) Q4 2023 Q1 2024 $184.2M Revenue $195-$200M Revenue $(74.5)M Net Loss ~$(10)M Adjusted EBITDA loss(1) $(4.3)M Adjusted EBITDA loss(1) Fiscal 2023 Fiscal 2024 $730.5M Revenue $875-900M Revenue $(1,070.0)M Net Loss Break even or better Adju
Slide 6: Customer spotlight - Q4'23
Customer spotlight - Q4'23 Lightspeed Retail Lightspeed Restaurant Lightspeed B2B Platform Lightspeed Payments Eastern National is a non-profit organization La Mère Germaine is a Michelin star Lightspeed has renewed its partnership with operating museum stores in America’s restaurant located at the
Slide 7: Growing GTV
Growing GTV (1) Gross Transaction Volume (in $B) (1) Total Revenue as a % of GTV $18.4 $20.2 Q1’23 0.79% 10% Q2’23 0.82% y/y Q3’23 0.84% Q4’22 Q4’23 Q4’23 0.91% 61% CAGR $87.1 $74.0 10% GTV growth YoY(1)(2) 18% $33.7 119% y/y 20% Hospitality GTV growth YoY(1)(2) y/y 51% y/y 3% Retail GTV growth YoY(
Slide 8: Payments opportunity
Payments opportunity Payment Solutions Gross Payment Volume (in $B) Currently processed GPV increased 70% YoY(3) to $3.8B in Q4’23 $3.8 through our Payments GPV as a % of GTV increasing each fiscal year Solutions $2.2 70% Early in fiscal 2024, Lightspeed launched y/y unified Payments and POS initiat
Slide 9: Ideal customers and cohorts
Ideal customers and cohorts (1) Customer Locations by GTV Tier 150,000 Retail Hospitality 125,000 Customer Locations with GTV of over Lightspeed Retail Annual GTV $500,000/year(1)(2) increased 13% YoY Leading solution in North America, UK and APAC Customer Locations with GTV of over 100,000 < 200k $
Slide 10: Shifting sales mix and expanding ARPU
Shifting sales mix and expanding ARPU Global Footprint(1) ARPU(2) Sales Mix ~$335 6% ~$270 24% y/y 38% Retail Q4’22 48% 46% 62% Hospitality Q4’22 Q4’23 Subscription 5% Transaction-based 41% Europe / ROW Focus on higher GTV customers drives ARPU growth Q4’23 49% 51% North America 54% ARPU growth driv
Slide 11: Focusing on disciplined growth
Focusing on disciplined growth Q4’22 Q1’23 Q2’23 Q3’23 Q4’23 Total Revenue (in $M) Net Loss $(114.5) $(100.8) $(79.9) $(74.5) $184.2 (in $M) (2) $146.6 $(814.8) 26% y/y Net Loss (78.1)% (58.0)% (43.5)% (40.4)% as a % of Revenue (431.8)% (2) Q4’22 Q4’23 82% CAGR Adjusted $730.5 EBITDA $(5.4) $(4.3) (
Slide 12: APPENDIX A
APPENDIX A
Slide 13: 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. We use this measure as we believe it provides a helpful sup
Slide 14: APPENDIX B
APPENDIX B
Slide 15: 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 n
Slide 16: Appendix B - Non-IFRS measures and ratios
Appendix B - Non-IFRS measures and ratios The following table reconciles net loss to Adjusted EBITDA for the periods indicated: (In thousands of US dollars, except percentages) Three months ended Mar. 31, 2023 Dec. 31, 2022 Sept. 30, 2022 Jun. 30, 2022 Mar. 31, 2022 $ $ $ $ $ Net Loss (74,468) (814,
Slide 17: Appendix B - Non-IFRS measures and ratios
Appendix B - Non-IFRS measures and ratios (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, and cash related payroll taxes given that they are directly attributable t
Slide 18: APPENDIX C
APPENDIX C
Slide 19: Appendix C - Financial outlook assumptions
Appendix C - Financial outlook assumptions When calculating the Adjusted EBITDA included in our financial outlook for the first quarter and full year ended March 31, 2024, we considered IFRS measures including revenue, direct cost of revenue, and operating expenses. Our financial outlook is based on
Slide 20: Contact us
Contact us investors.lightspeedhq.com investorrelations@lightspeedhq.com NYSE: LSPD | TSX: LSPD