Lightspeed Commerce Releases Insight Driven Product Updates for Q2

New product updates focus on providing merchants with a deeper understanding of their-and their competitors-businesses

MONTREAL, Oct. 22, 2024 /PRNewswire/ - Lightspeed Commerce Inc. (NYSE: LSPD) (TSX: LSPD) ("Lightspeed" or the "Company"), the one-stop commerce platform empowering merchants to provide the best omnichannel experiences, today highlighted some of the key product innovations launched in the past quarter to support the Company's customer base in retail and hospitality.

Focused on improving business effectiveness and operational efficiency, the releases in the past few months have streamlined business management to help create faster workflows, predict sales opportunities and compare the health of their business against industry benchmarks.

"This past quarter we've delivered on some exciting and cutting-edge technology innovations," said Dax Dasilva, Founder and Chief Executive Officer of Lightspeed. "Whether you're a retailer looking to better capitalize on product sales opportunities, or a restaurateur who needs to better understand their business in context to your peers, we've opened up real opportunities to improve business performance and maximize sales."

Lightspeed's Q2 innovations brought a number of new products and feature sets across the retail and hospitality industries, including:

Retail

    --  Increased sales opportunities and better inventory management with
        Retail InsightsLaunched globally in August, Retail Insights allows
        Lightspeed customers to close the gap on missed sales opportunities by
        using historical and real time data to forecast demand which factors in
        stock-outs, and create purchase orders ahead of demand.

    --  Keep your sales, and peace of mind, with Offline ModeWith Offline Mode,
        Lightspeed Retail merchants can continue to run business as usual even
        during outage situations. When a terminal detects that the internet
        connection has been lost, Lightspeed's POS will be prompted to enable
        offline mode to process payments. Merchants can manually enter the sale
        amounts and have the customer pay using a card payment like normal. The
        payment will be stored on the terminal until the internet connection has
        been restored. All stored payments will then be transferred to
        Lightspeed for processing and merchant portal payments will be updated
        accordingly.

    --  Automatic Order Distribution to Multiple LocationsDistributing stock
        from a purchase order to multiple locations can be challenging. With
        Lightspeed Multi-Location Ordering, retailers can now create one
        purchase order for multiple locations and after receiving it at a
        warehouse automatically create transfers to distribute the stock out.

    --  Instant Payouts for Retailers Comes to the UKCash flow is the most
        crucial part of running a business. With the launch of Instant Payouts
        to UK merchants, eligible Lightspeed merchants will be able to access
        funds immediately after the transaction-even on weekends and
        holidays-and manage daily expenses, pay suppliers and invest in growth
        opportunities. Instant Payouts is already available to Lightspeed Retail
        customers currently based in the U.S.

Hospitality

    --  Groundbreaking AI-driven Benchmarks & Trends for the Hospitality
        industryThrough the power of machine learning and AI, Benchmarks &
        Trends gives restaurateurs the insights they need to help boost revenue,
        streamline operations, and gain a competitive edge in a crowded dining
        landscape.

    --  Spot trends faster with the new Sales Summary pageLeveraging improved
        data visualization, customers can now better understand what's happening
        with their business, identify sales trends and pinpoint where losses are
        happening. This visual guide clearly outlines the busiest periods
        throughout the week and provides insights into what's affecting
        performance.

    --  Happy Hour on Order AnywhereExtend POS happy hour pricing to Order
        Anywhere. This feature allows businesses to dynamically adjust their
        menu pricing, allowing guests to take advantage of happy hour pricing
        ordering online from their table.

    --  Menu management made easy through bulk actionsCustomers can manage their
        menu faster than ever with new bulk actions in the item library. Assign
        static categories, accounting groups, production instructions, etc.
        Archive or unarchive up to a hundred items at a time.

    --  Issue partial refunds directly from the POSPartial refunds directly from
        the POS are now enabled for all merchants. This feature gives users the
        flexibility to refund specific items, service charges and tips, making
        it easier to provide excellent customer service.

eCommerce

    --  Endless opportunities with custom sections for the Instant SiteMerchants
        and partners can now develop and design new sections for Lightspeed
        eCommerce Instant Site. Giving merchants and developers the tools to
        build unique customer experiences tailored to their business or design
        an online store that matches their vision and takes their brand to the
        next level.

Lightspeed powers the world's best restaurants and retailers including: Taverne Atlantic (Montréal), Tony's Chocolonely (Amsterdam), Alinea Group (Chicago), L'Occitane (New Zealand), and Kei (Paris).

For more information, see https://www.lightspeedhq.com/.

About Lightspeed

Powering the businesses that are the backbone of the global economy, Lightspeed's one-stop commerce platform helps merchants innovate to simplify, scale, and provide exceptional omnichannel customer experiences. Our cloud commerce solution transforms and unifies online and physical operations, multichannel sales, expansion to new locations, global payments, financial solutions, and connection to supplier networks.

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, the company serves retail, hospitality, and golf businesses in over 100 countries.

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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 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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SOURCE Lightspeed Commerce Inc.