11/22/2023 0 Comments Lightspeed hq revenue![]() ![]() Overall GTV from Lightspeed retailers in April grew approximately 50 percent from March levels The company said the following trends have been apparent since the quarter end:ĭespite present economic conditions, approximately three-quarters of Lightspeed’s customers are actively trading, meaning that they are processing volume through Lightspeed’s omni-channel cloud solutions ĮCommerce adoption remains robust with a 400 per cent increase in eCommerce volumes processed by Lightspeed retailers in April as compared to February levels ![]() However, Lightspeed’s solutions have been helping to offset the toll that the pandemic is taking on hospitality and retail industries around the world,” the company said in a news release. We anticipate that customers’ GTV (gross transaction value) and the demand for our services will be impacted and business failures in our customer base will increase so long as social distancing measures remain in place in the core markets we serve. “The effects of the COVID-19 pandemic and related government shutdowns are impacting retailers and restaurants globally. ![]() The need for an omni-channel cloud solution coupled with modern, integrated payment solutions is no longer a competitive differentiator, but a business imperative, it said.īut in its fourth quarter Lightspeed experienced a net loss of $18.6 million compared to a net loss of $96.1 million a year ago and for its fiscal year it had a net loss of $53.5 million compared to a net loss of $183.5 million in 2019. Lightspeed said it saw a record uptake in March of Lightspeed eCommerce, Lightspeed Delivery, and Lightspeed Payments platforms as retailers and hospitality businesses worldwide adopted new sales channels to continue reaching customers amidst the outbreak of COVID-19. With over $210 million in unrestricted cash we are well positioned to invest smartly through this period and emerge as an even stronger global leader for our customers.” “While the effects of COVID-19 will cause some uncertainty for the foreseeable future, we are encouraged by the signs we are seeing for Lightspeed’s solutions and what it signals for our long-term potential. “We delivered strong financial results to finish up our fiscal year, despite the difficult macro environment encountered through the back half of March,” said Brandon Nussey, Lightspeed’s CFO. ![]()
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