Q1 2025 Lightspeed Commerce Inc Earnings Call Transcript
Key Points
- Lightspeed Commerce Inc (LSPD) reported strong revenue growth of 27% year over year, reaching $266.1 million, surpassing their outlook.
- Adjusted EBITDA came in at $10.2 million, significantly better than the adjusted EBITDA loss of $7 million in the same quarter last year.
- Payments penetration increased to 36%, up from 22% in the same quarter last year, demonstrating successful adoption of Lightspeed Payments.
- The company added several high-profile customers, including Google Bike, Horkans, Karavel Shoes, Foodmaker, Northgate Resorts, and Dineen Coffee.
- Lightspeed Commerce Inc (LSPD) launched several innovative features, such as the omni-loyalty program, advanced inventory management features, and a partnership with Uber for restaurant delivery services.
- Same-store sales were down year over year, particularly in certain verticals like bike and home and garden, and traffic in US restaurants was also down.
- Gross margins slightly declined to 41% from 42% year over year, impacted by the transition from integrated partners to Lightspeed Payments.
- There was a slight uptick in churn among non-flagship customers due to the Unified Payments launch in Europe.
- The company is still in the early stages of monetizing its supplier network, with significant contributions expected only in fiscal 2026.
- Despite strong growth in Lightspeed Capital, the business remains nascent with single-digit million-dollar revenue, limiting its immediate impact on overall gross margins.
Thank you for standing by. My name is Ian, and I will be your conference operator today. At this time, I'd like to welcome everyone to the Lightspeed first-quarter 2025 earnings call. (Operator Instructions)
Thank you. I will now hand things over to Gus Papageorgiou, Head of Investor Relations. You may begin.
Thank you, operator, and good morning, everyone. Welcome to Lightspeed's fiscal Q1 2025 conference call. Joining me today are Dax Dasilva, Lightspeed's founder and CEO; Asha Bakshani, our CFO; and JD Saint-Martin, our President. After prepared remarks from Dax and Asha, we will open it up for your questions.
We will make forward-looking statements on our call today that are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Certain material factors and assumptions were applied in respect to conclusions, forecasts, and projections contained in these statements. We undertake no obligation to update these
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