"In today's dynamic business landscape, merchants need more than just a point-of-sale system; they need a partner that provides intelligent tools to navigate complexity and seize opportunities," said Dax Dasilva, Founder and Chief Executive Officer of Lightspeed. "Our Q1 product releases reflect our unwavering commitment to delivering solutions that directly address the evolving needs of retailers, restaurateurs, and golf course operators, helping them optimize every aspect of their business from inventory to customer engagement."
Lightspeed's Q1 innovations brought a number of new products and feature sets across the retail, hospitality, and golf industries, including:
Retail
Lightspeed rolled out powerful new features designed to tackle common industry challenges, streamline operations, and enhance customer engagement. These updates provide retailers with comprehensive insights, improved efficiency, and enhanced tools for both in-store and online sales.
- NuORDER by Lightspeed introduces "Order Trends" to bring insight into wholesale buying
Buyers can now gain a competitive edge with data-driven buying. This feature surfaces aggregated, top-performing product data (category, size, color) at the brand level, allowing buyers to make confident stocking decisions, by understanding what's selling well for other retailers, and reducing their overhead risk. Early adopters of Order Trends have seen approximately 10% increase in average order value.
- Enhanced Inventory Tracking & Financial Metrics
Achieve greater precision by creating Custom Inventory Adjustments, allowing for detailed tracking of stock changes. Additionally, Lightspeed Insights now includes Inventory Turns and GMROI (Gross Margin Return on Investment), providing crucial financial metrics traditionally found only in ERPs, directly within Lightspeed to help retailers optimize profitability. Retailers using Insights have on average seen a 25.4% higher GMROI compared to merchants without Insights1.
- Lightspeed Retail achieves "Built for NetSuite" status
The new Lightspeed Retail SuiteApp enables retailers to integrate and automate data flows between NetSuite and Lightspeed Retail POS to improve data sync across products, inventory, and customer history; simplify transaction reporting; optimize inventory; and centralize multi-location data visibility.
- Improved Clienteling on Lightspeed Scanner App
With the Lightspeed Scanner App, sales associates are empowered with real-time product information. It allows for easy product search, inventory checks, and pricing directly from the app, leading to a more informed shopping experience. For iOS users, the Scanner app also offers search filtering and supports Loyalty and Store Credit Payments on the shop floor, streamlining checkout.
- Seamless Omnichannel Management
Lightspeed now offers enhanced support for Omnichannel refunds, statuses, charges, and packing slips. Retailers can set custom online checkout charges (including pickup fees), print packing slips for orders, and ensure order status (fulfillment and refunds) syncs seamlessly between platforms, providing end-to-end tracking.
Hospitality
- Lightspeed Restaurant's AI-powered Benchmarks and Trends launches in Europe
Previously available to North American hospitality customers and now available in certain European countries as well, Benchmarks & Trends addresses the need to stay competitive in this evolving market by giving restaurant owners a deeper understanding of their own performance and how they measure up against local competitors. These insights can help boost revenue, streamline operations, and gain a competitive upper hand in a crowded dining landscape where customers are hungry for the best dining options.
- Serve more, walk less with the upgraded Lightspeed Tableside
Lightspeed Tableside just got more versatile. Tableside is the pocket-size, mobile POS that allows servers to take orders and payments directly at the table, on the terrace, or wherever guests are. Now, with the addition of the sleek new Mobile Tap device to merchants in the UK, Netherlands, and Belgium, Tableside can take tap, insert, and swipe, with battery life up to 48hrs. Powered by Lightspeed Payments, it speeds up service, increases table turnover, and keeps staff moving less while selling more.
- Get deeper insights on the go with Lightspeed Pulse
Lightspeed Pulse, our real-time reporting App now offers deeper insights to help restauranteurs uncover sales trends. Stay informed on the go with digestible data—spot sales trends, top staff and best-sellers at a glance. Plus, a new "yesterday" filter makes it easy to check how the business performed at a glance, all from the convenience of a smartphone.
- Streamlined operations and kitchen performance for better order flow
New updates make daily restaurant operations smoother and more efficient, from menu management to kitchen flow. Kitchen Display System (KDS) users can now directly access "Prep insights" to analyze kitchen performance. Meanwhile merchants now have more control over item details and menu updates, saving time by reducing the need for manual updates in the Back Office.
- New Sales Report and real-time hourly sales metrics help improve profitability
Designed with profitability in mind, Lightspeed Restaurant launched Sales Report to consolidate all key sales insights into a single, clear and customizable view which empowers restaurateurs to analyze sales drivers and identify trends. Operators can get even more granular by filtering and selecting what metrics they want to see hourly, or analyze performance focusing on specific shifts, e.g. breakfast, lunch, dinner, etc. These new reports are designed to help businesses plan smarter shifts, cut costs and boost revenue with real-time insights.
Golf
- Lightspeed and Whoosh partnership elevates private golf operations
As Whoosh's Preferred Membership Management Partner, Lightspeed will provide Whoosh users in the Private club space its cloud-based point of sale, payments and membership management technology directly integrated into their tee sheet, giving clubs an automated, real-time view of member activity across the facility. A central feature of the partnership is Lightspeed Membership Management, a next-gen membership billing system, which enables clubs to centralize charges, set custom billing rules, and access real-time insights.
To learn more about these new features, visit Lightspeed's website.
About Lightspeed
Lightspeed is the POS and payments platform powering businesses at the heart of communities in over 100 countries. As the partner of choice for ambitious retail, golf and hospitality entrepreneurs, Lightspeed helps businesses accelerate growth, deliver exceptional customer experiences, and run smarter across all channels and locations.
With fast, flexible omnichannel technology, Lightspeed brings together point of sale, ecommerce, embedded payments, inventory, reporting, staff and supplier management, financial services, and an exclusive wholesale retail network. Backed by insights, and expert support, Lightspeed helps businesses run more efficiently and focus on what they do best.
Founded in Montréal, Canada in 2005, Lightspeed is dual-listed on the New York Stock Exchange and Toronto Stock Exchange (NYSE: LSPD) (TSX: LSPD), with teams across North America, Europe, and Asia Pacific.
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Forward-Looking Statements
This news release may include forward-looking information and forward-looking statements within the meaning of applicable securities laws ("forward-looking statements"), including information regarding Lightspeed's partnerships, product offerings and planned product roadmap. Forward-looking statements are statements that are predictive in nature, depend upon or refer to future events or conditions and are identified by words such as "will", "expects", "anticipates", "intends", "plans", "believes", "estimates" or similar expressions concerning matters that are not historical facts. Such statements are based on current expectations of Lightspeed's management and inherently involve numerous risks and uncertainties, known and unknown, including economic factors. A number of risks, uncertainties and other factors may cause actual results to differ materially from the forward-looking statements contained in this news release, including, among other factors, those risk factors identified in our most recent Management's Discussion and Analysis of Financial Condition and Results of Operations, under "Risk Factors" in our most recent Annual Information Form, and in our other filings with the Canadian securities regulatory authorities and the U.S. Securities and Exchange Commission, all of which are available under our profiles on SEDAR+ at www.sedarplus.com and on EDGAR at www.sec.gov. Readers are cautioned to consider these and other factors carefully when making decisions with respect to Lightspeed's subordinate voting shares and not to place undue reliance on forward-looking statements. Forward-looking statements contained in this news release are not guarantees of future performance and, while forward-looking statements are based on certain assumptions that Lightspeed considers reasonable, actual events and results could differ materially from those expressed or implied by forward-looking statements made by Lightspeed. Except as may be expressly required by applicable law, Lightspeed does not undertake any obligation to update publicly or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.
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1 25.4% represents the difference in Gross Margin Return on Investment ("GMROI") between (1) customers actively using Insights to drive their replenishment ordering and (2) those who have access, but are not actively using Insights. Specifically, over the three months ended December 31, 2024, the median merchant in the sample group (1) achieved a GMROI of $0.79 which is 25.4% higher than the median merchant in the sample group (2) of $0.63. Results outside such samples could vary depending on locations and other factors. |
SOURCE Lightspeed Commerce Inc.
For further information: Lightspeed Media Relations: [email protected]; Lightspeed Investor Relations: Gus Papageorgiou, [email protected]
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