MONTREAL, July 06, 2023 (GLOBE NEWSWIRE) -- Lightspeed Commerce Inc. (NYSE | TSX: LSPD), today marks a game-changing milestone: restaurateurs have leveraged Lightspeed Restaurant to serve over one billion meals worldwide and facilitate more than 300 million unique diner’s unforgettable experiences in the last 12 months1 through this powerful restaurant solution. This extraordinary feat highlights the increase in Lightspeed Restaurant’s transaction volume growth.
Powering the world’s best businesses, Lightspeed is the unified POS and payments platform for ambitious entrepreneurs to accelerate growth, provide the best customer experiences and become a go-to destination in their space, including: Daniel Boulud - Dinex Group (NYC), Alinea Group (Chicago), Duro (Dallas), Telerefic (Los Angeles), Californios (San Francisco), Vatican Gift Shop (Toronto), Joe Beef (Montreal), Big Mamma (Europe), Da Terra (London) , Arpège (Paris), De Librije (Amsterdam), Umami (Berlin), Chalet d'Adrien (Verbier), Mr Miyagi (Melbourne) and Maybe Sammy (Sydney).
“Reaching this milestone of serving over one billion diners and facilitating more than 300 million dining experiences over the last year, showcases the tremendous impact Lightspeed has on the global restaurant industry,” said Peter Dougherty, GM of Hospitality at Lightspeed. “Through advanced technology, data-driven insights, and continuous innovation, we are equipping restaurants to navigate ever-evolving challenges and redefine the dining landscape.”
Tackling Industry Challenges
In an industry rife with challenges and operational complexities, Lightspeed Restaurant continues to establish its position as a critical ally for modern restaurants. Lightspeed Restaurant empowers establishments to maintain efficiency and exemplary guest experiences, even amidst staff constraints.
Streamline Ops to Serve Customers Faster
Lightspeed Restaurant helps business owners optimize their time so that they can spend more of it focused on their customers.
- The speed of the Lightspeed Restaurant platform means orders from the server to the back of house staff are on average 40% faster2 than the competition.
- Improvements to how diners order and pay thanks to the seamless experiences offered with ‘Pay at Table’ , ‘Tap to Pay’, and ‘Scan and Pay’ means restaurant operators can say goodbye to unnecessary waiting as guests dine, order, and pay – all from their seat.
- Tip Management means that operators can maximize server earnings with intelligent tip suggestion and reporting.
- Enhanced APIs means that external systems can easily integrate into the platform allowing for real-time inventory management.
- A strong offline mode ensures business continuity, even without internet connectivity.
Real-World Impact
Testimonials from restaurant owners worldwide illustrate the transformative power of Lightspeed Restaurant. "Lightspeed gives us everything we need right at our fingertips," said Andrew Ketcham, Associate Director of Operations at Atomic Hospitality in Chicago. "It allows us to get people in the door, give them a phenomenal experience, and get them on their way so that we're ready for the next group."
Dive into the transformative features of Lightspeed Restaurant on our website, or to witness its powerful capabilities, see www.lightspeedhq.com/pos/restaurant.
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 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 (NYSE: LSPD) and Toronto Stock Exchange (TSX: LSPD). With teams across North America, Europe and Asia Pacific, the company serves retail, hospitality and golf businesses in over 100 countries.
For more information, see www.lightspeedhq.com.
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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.sedar.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.
1 - Based on the trailing twelve months ended May 30, 2023.
2 - Based on internal testing in August 2022 of industry peer check management and other workflows. Lightspeed Restaurant POS requires on average 40% fewer clicks for completing check splitting, discounting and other basic POS workflows than certain industry-leading POS systems in North America. Results outside such internal testing could vary depending on location and other factors.
For further information: Media Contacts: Canada: Victoria Baker, NKPR - victoriab@nkpr.net; USA: Jennifer Fugel, Newsmaker Group - jfugel@newsmakergroup.com; Lightspeed Media Relations - media@lightspeedhq.com; Investor Relations: Gus Papageorgiou, Lightspeed Investor Relations - investorrelations@lightspeedhq.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/78fe97b8-9c4f-405b-9331-fbb943562ec6
