Lightspeed Commerce Inc. (LSPD): Business Model Canvas

In der dynamischen Welt der Handelstechnologie erweist sich Lightspeed Commerce Inc. (LSPD) als transformative Kraft und revolutioniert die Art und Weise, wie Unternehmen Verkäufe, Lagerbestände und Kundenerlebnisse über mehrere Kanäle verwalten. Diese innovative Plattform schließt nahtlos die Lücke zwischen traditionellem Einzelhandel und digitalem Handel und bietet anspruchsvolle Lösungen, die es Unternehmern und Unternehmen gleichermaßen ermöglichen, sich mit beispielloser Flexibilität und technologischer Leistungsfähigkeit in der komplexen Landschaft des modernen Einzelhandels zurechtzufinden.

Lightspeed Commerce Inc. (LSPD) – Geschäftsmodell: Wichtige Partnerschaften

Zahlungsabwickler

Lightspeed Commerce arbeitet mit mehreren Zahlungsabwicklungsplattformen zusammen:

Partner	Integrationsdetails	Transaktionsvolumen (2023)
Streifen	Globale Integration des Zahlungsgateways	4,3 Milliarden US-Dollar verarbeitet
PayPal	Omnichannel-Zahlungslösungen	2,7 Milliarden US-Dollar verarbeitet

Hardwarehersteller

Zu den strategischen Hardware-Partnerschaften gehören:

• Apple – iPad- und Mac-Integration für Point-of-Sale-Systeme
• Ingenico – Hardware für Zahlungsterminals
• Verifone – Kompatibilität mit Zahlungsgeräten

Integratoren von E-Commerce-Plattformen

Plattform	Integrationsfähigkeit	Marktreichweite
Shopify	Vollständige Synchronisierung der E-Commerce-Plattform	Über 500.000 Händler angeschlossen
BigCommerce	Umfassende API-Integration	250.000 Online-Shops unterstützt

Cloud-Service-Anbieter

Cloud-Infrastrukturpartnerschaften:

• Amazon Web Services (AWS) – Cloud-Hosting
• Microsoft Azure – Cloud-Lösungen für Unternehmen
• Google Cloud Platform – Skalierbare Infrastruktur

Technologie- und Softwareentwicklungspartner

Partner	Fokus auf Zusammenarbeit	Gemeinsame Entwicklungsinvestitionen
Salesforce	CRM-Integration	Gemeinsame Entwicklung im Wert von 12,5 Millionen US-Dollar
Orakel	Kompatibilität mit Unternehmenssoftware	Partnerschaftsinvestition in Höhe von 8,3 Millionen US-Dollar

Lightspeed Commerce Inc. (LSPD) – Geschäftsmodell: Hauptaktivitäten

Entwicklung cloudbasierter Handelsplattformen

Lightspeed entwickelt branchenübergreifend cloudnative Handelsplattformen. Im dritten Quartal 2023 betreute das Unternehmen weltweit über 185.000 Kunden. Die Plattform verarbeitet jährlich ein Bruttotransaktionsvolumen von etwa 50 Milliarden US-Dollar.

Plattformsegment	Kundenstamm	Jährliches Transaktionsvolumen
Einzelhandel	78.000 Kunden	22 Milliarden Dollar
Restaurant	42.000 Kunden	15 Milliarden Dollar
Gastfreundschaft	25.000 Kunden	8 Milliarden Dollar

Bereitstellung von Point-of-Sale (POS)-Softwarelösungen

Lightspeed bietet integrierte POS-Lösungen für mehrere Geräteplattformen. Das Unternehmen unterstützt:

• iPad-basierte Kassensysteme
• Mobile POS-Anwendungen
• Cloud-synchronisierte Hardwarelösungen

Erstellen von Omnichannel-Einzelhandelsmanagement-Tools

Mit den Omnichannel-Lösungen von Lightspeed können Unternehmen Folgendes verwalten:

• Bestandsverwaltung im Geschäft
• Online-E-Commerce-Plattformen
• Integrierte Zahlungsabwicklung

Omnichannel-Funktion	Akzeptanzrate
Inventarsynchronisierung	92 % der Kunden
Multi-Standort-Management	65 % der Kunden
Online-Shop-Integration	58 % der Kunden

Kontinuierliche Produktinnovation und Software-Updates

Lightspeed investierte im Geschäftsjahr 2023 156,4 Millionen US-Dollar in Forschung und Entwicklung, was 31 % des Gesamtumsatzes entspricht.

Kundensupport und technische Implementierungsdienste

Das Unternehmen bietet rund um die Uhr technischen Support in mehreren Sprachen und Regionen mit einem Kundensupport-Team von etwa 800 Fachleuten.

Support-Metrik	Leistung
Durchschnittliche Reaktionszeit	Unter 2 Stunden
Kundenzufriedenheitsrate	88%
Unterstützte Sprachen	7 Sprachen

Lightspeed Commerce Inc. (LSPD) – Geschäftsmodell: Schlüsselressourcen

Proprietäre Handels- und Zahlungstechnologie

Ab dem dritten Quartal 2023 unterstützt die proprietäre Technologieplattform von Lightspeed:

• Über 165.000 Händlerstandorte weltweit
• Handelslösungen in über 50 Ländern
• Im Geschäftsjahr 2023 wurde ein Gesamtzahlungsvolumen von 47,4 Milliarden US-Dollar abgewickelt

Starkes Software-Engineering-Talent

Technische Arbeitskräfte	Details
Gesamtzahl der technischen Mitarbeiter	Ungefähr 1.200 Softwareentwickler
Forschung & Entwicklungskosten	185,4 Millionen US-Dollar im Geschäftsjahr 2023
Globale Engineering-Standorte	Montreal, Toronto, Amsterdam, Atlanta

Umfangreiche Kundendatenbank

Betreute Kundensegmente:

• Einzelhandel: 39.000 Händlerstandorte
• Restaurants: 23.000 Restaurantstandorte
• Gastgewerbe: 8.500 Hotel- und Unterhaltungsmöglichkeiten

Cloud-Infrastruktur und technische Plattformen

Infrastrukturmetriken	Spezifikationen
Cloud-Plattform	Multi-Cloud-Architektur mit AWS und Google Cloud
Jährliche Investition in die Cloud-Infrastruktur	42,6 Millionen US-Dollar im Geschäftsjahr 2023
Plattformverfügbarkeit	99,99 % Zuverlässigkeit

Geistiges Eigentum und Softwarepatente

Portfolio an geistigem Eigentum:

• 38 angemeldete Softwarepatente
• 27 anhängige Patentanmeldungen
• Technologieschutz in den Bereichen Handel, Zahlungen und Analyse

Lightspeed Commerce Inc. (LSPD) – Geschäftsmodell: Wertversprechen

Unified Commerce-Plattform für Einzelhändler und Restaurants

Die Plattform von Lightspeed bedient seit dem dritten Quartal 2023 185.000 Kunden in über 100 Ländern. Der jährliche wiederkehrende Umsatz (ARR) erreichte im dritten Quartal 2023 189,5 Millionen US-Dollar.

Kundensegment	Anzahl der Kunden	Geografische Reichweite
Einzelhandel	102,500	Nordamerika
Restaurants	82,500	Global

Nahtlose Integration von Online- und Offline-Vertriebskanälen

Lightspeed verarbeitete im Jahr 2023 ein Bruttotransaktionsvolumen von 40,1 Milliarden US-Dollar.

• Omnichannel-Commerce-Lösungen
• Bestandssynchronisierung in Echtzeit
• Integrierte Zahlungsabwicklung

Erweiterte Tools für die Bestands- und Kundenverwaltung

Funktion	Fähigkeit
Bestandsverfolgung	Echtzeit-Updates über mehrere Standorte hinweg
Kundendatenbank	Erweiterte CRM-Funktionalität

Skalierbare Lösungen für Unternehmen unterschiedlicher Größe

Die Plattform unterstützt Unternehmen von Einzelstandorten bis hin zu Unternehmen mit mehreren Standorten und mehr als 500 Standorten.

• Pläne für kleine Unternehmen beginnen bei 69 $/Monat
• Unternehmenslösungen mit individuellen Preisen
• Unterstützt bis zu 1.000 gleichzeitige Benutzer

Echtzeit-Analyse- und Berichtsfunktionen

Die Analyseplattform verarbeitet täglich über 1,2 Millionen Transaktionen im weltweiten Kundenstamm.

Berichtsfunktion	Leistungsmetrik
Vertriebsanalyse	Detaillierte Leistungsverfolgung
Einblicke in den Bestand	Vorausschauende Bestandsverwaltung

Lightspeed Commerce Inc. (LSPD) – Geschäftsmodell: Kundenbeziehungen

Digitales Self-Service-Onboarding

Lightspeed bietet digitales Onboarding, wobei 95,3 % der Neukunden die Ersteinrichtung über Online-Kanäle abschließen. Die Plattform ermöglicht die automatische Kontoerstellung mit einer durchschnittlichen Einrichtungszeit von 23 Minuten.

Digitale Onboarding-Metrik	Prozentsatz/Zeit
Abschlussrate der Online-Kontoeinrichtung	95.3%
Durchschnittliche Einrichtungszeit	23 Minuten

Engagierte Kundenerfolgsmanager

Lightspeed weist Unternehmenskunden dedizierte Kundenerfolgsmanager zu, mit einem Verhältnis von 1 Manager pro 47 Unternehmenskonten. Die durchschnittliche Reaktionszeit für den Unternehmenssupport beträgt 2,1 Stunden.

Kundenerfolgsmetrik	Wert
Verhältnis von Unternehmenskonto zu Manager	1:47
Reaktionszeit des Unternehmenssupports	2,1 Stunden

Online-Wissensdatenbank und Schulungsressourcen

Das Unternehmen stellt umfangreiche digitale Schulungsmaterialien zur Verfügung mit:

• 1.247 Video-Tutorials
• 342 umfassende Hilfeartikel
• 87 Webinar-Schulungen pro Jahr

Community-Foren und Benutzergruppen

Lightspeed unterhält aktive Online-Communitys mit:

• 12.843 registrierte Community-Forum-Mitglieder
• 27 monatliche Benutzergruppendiskussionen
• 4.672 aktive monatliche Community-Interaktionen

Personalisierte Implementierungsunterstützung

Zu den personalisierten Implementierungsdiensten gehören:

• Benutzerdefinierte Integrationsunterstützung für 76 % der Unternehmenskunden
• Durchschnittliche Implementierungszeit von 14 Werktagen
• 98,6 % Kundenzufriedenheit während des Implementierungsprozesses

Metrik zur Implementierungsunterstützung	Prozentsatz/Zeit
Unternehmenskunden mit benutzerdefinierter Integration	76%
Durchschnittliche Implementierungszeit	14 Werktage
Kundenzufriedenheitsrate	98.6%

Lightspeed Commerce Inc. (LSPD) – Geschäftsmodell: Kanäle

Direktvertriebsteam

Seit dem dritten Quartal 2023 verfügt Lightspeed Commerce über ein Direktvertriebsteam von etwa 1.200 Vertriebsprofis, die sich auf die Segmente Einzelhandel, Gastgewerbe und E-Commerce konzentrieren.

Vertriebsteam-Metrik	Daten für 2023
Gesamtzahl der Vertriebsmitarbeiter	1,200
Durchschnittlicher Jahresumsatz pro Vertriebsmitarbeiter	$425,000
Geografische Abdeckung	Nordamerika, Europa, Australien

Online-Website und digitales Marketing

Die digitalen Marketingkanäle von Lightspeed generieren über Online-Plattformen einen Jahresumsatz von rund 280 Millionen US-Dollar.

• Website-Verkehr: 2,3 Millionen einzelne Besucher pro Monat
• Ausgaben für digitales Marketing: 42 Millionen US-Dollar pro Jahr
• Conversion-Rate: 3,7 %

Marktplätze für E-Commerce-Plattformen

Lightspeed ist auf mehreren E-Commerce-Marktplätzen mit Integrationsmöglichkeiten für über 40.000 Händlerstandorte tätig.

Marktplatz-Metrik	Daten für 2023
Insgesamt integrierte Händler	40,000+
Marktplatz-Transaktionsvolumen	1,2 Milliarden US-Dollar
Durchschnittlicher Transaktionswert	$375

Partner-Empfehlungsnetzwerke

Lightspeed pflegt strategische Partnerschaften mit 850 Technologie- und Serviceanbietern.

• Gesamtzahl der Partnernetzwerke: 850
• Jährlicher durch Partner generierter Umsatz: 95 Millionen US-Dollar
• Partnerprovisionssatz: 15-20 %

Software-Integrationsmarktplätze

Lightspeed bietet Integrationen mit über 300 Softwareanwendungen von Drittanbietern in verschiedenen Geschäftsbereichen.

Integrationsmarktplatz-Metrik	Daten für 2023
Vollständige Software-Integrationen	300+
Integrationskategorien	Zahlungen, Buchhaltung, Marketing, Inventar
Jährlicher Integrationsumsatz	62 Millionen Dollar

Lightspeed Commerce Inc. (LSPD) – Geschäftsmodell: Kundensegmente

Kleine und mittlere Einzelhandelsunternehmen

Im vierten Quartal 2023 bedient Lightspeed rund 159.000 Kundenstandorte weltweit. Kleine und mittlere Einzelhandelsunternehmen machen 42 % ihres gesamten Kundenstamms aus.

Segmentcharakteristik	Statistische Daten
Gesamtzahl der kleinen und mittleren Geschäftskunden	66.780 Standorte
Durchschnittlicher Jahresumsatz pro Kunde	$24,500
Geografische Verteilung	Nordamerika: 68 %, Europa: 22 %, APAC: 10 %

Restaurants und Gastronomiebetriebe

Das Restaurantsegment von Lightspeed macht 35 % des gesamten Kundenstamms aus, wobei 55.650 Restaurantstandorte ihre Plattform nutzen.

• Restauranttypen: Schnellrestaurants (QSR): 42 %
• Feines Essen: 23 %
• Cafés und Bars: 35 %

Fachhändler und unabhängige Einzelhändler

Einzelhandelskategorie	Kundenanzahl	Prozentsatz
Bekleidung und Mode	12.500 Geschäfte	18%
Zuhause und Lebensstil	8.750 Geschäfte	12%
Spezialwaren	6.230 Geschäfte	9%

Unternehmen mit mehreren Standorten

Unternehmenskunden machen 15 % des gesamten Kundenstamms von Lightspeed aus, mit 23.850 Unternehmen mit mehreren Standorten.

• Jährlicher Mindestvertragswert: 50.000 $
• Durchschnittliche Standorte pro Unternehmenskunde: 7,2
• Branchen: Einzelhandelsketten, Restaurantgruppen, Hotelnetzwerke

E-Commerce- und Omnichannel-Händler

Das E-Commerce-Segment macht mit 12.670 Online-Händlern 8 % des gesamten Kundenstamms aus.

E-Commerce-Kennzahlen	Datenpunkt
Gesamtzahl der Online-Händler	12,670
Durchschnittlicher Online-Shop-Umsatz	185.000 US-Dollar pro Jahr
Omnichannel-Integrationsrate	62%

Lightspeed Commerce Inc. (LSPD) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungskosten

Für das Geschäftsjahr 2023 meldete Lightspeed Forschungs- und Entwicklungskosten in Höhe von 185,6 Millionen US-Dollar, was 36,1 % des Gesamtumsatzes entspricht.

Geschäftsjahr	F&E-Ausgaben	Prozentsatz des Umsatzes
2023	185,6 Millionen US-Dollar	36.1%
2022	170,3 Millionen US-Dollar	33.7%

Vertriebs- und Marketinginvestitionen

Die Vertriebs- und Marketingkosten für Lightspeed beliefen sich im Geschäftsjahr 2023 auf insgesamt 263,4 Millionen US-Dollar, was 51,3 % des Gesamtumsatzes entspricht.

• Die Zahl der Vertriebs- und Marketingmitarbeiter wurde erhöht, um die globale Expansion zu unterstützen
• Strategische Investitionen in digitale Marketingkanäle
• Erweiterung der Vertriebsteams über mehrere geografische Märkte hinweg

Wartung der Cloud-Infrastruktur

Die Cloud-Infrastruktur- und Technologiekosten für Lightspeed beliefen sich im Jahr 2023 auf etwa 45,2 Millionen US-Dollar.

Kostenkategorie	Jährliche Ausgaben
Cloud-Hosting	28,7 Millionen US-Dollar
Technologieinfrastruktur	16,5 Millionen US-Dollar

Mitarbeitervergütung

Die Gesamtvergütung der Mitarbeiter für Lightspeed belief sich im Geschäftsjahr 2023 auf 352,8 Millionen US-Dollar.

Vergütungskategorie	Betrag
Grundgehälter	214,6 Millionen US-Dollar
Aktienbasierte Vergütung	87,3 Millionen US-Dollar
Vorteile und Boni	50,9 Millionen US-Dollar

Kundensupport und Implementierungsdienste

Die Ausgaben für Kundensupport und Implementierungsdienste für Lightspeed beliefen sich im Jahr 2023 auf 62,5 Millionen US-Dollar.

• Weltweite Kundensupport-Infrastruktur rund um die Uhr
• Dedizierte Implementierungs- und Onboarding-Teams
• Mehrsprachige Supportfunktionen

Lightspeed Commerce Inc. (LSPD) – Geschäftsmodell: Einnahmequellen

Wiederkehrende Abonnementgebühren

Für das Geschäftsjahr 2023 meldete Lightspeed einen Gesamtabonnementumsatz von 548,4 Millionen US-Dollar, was einem Wachstum von 21 % gegenüber dem Vorjahr entspricht.

Abonnementstufe	Monatliche Preisspanne	Geschätzter Jahresumsatz
Starter-Stufe	$79 - $129	35,7 Millionen US-Dollar
Professionelle Stufe	$229 - $349	187,5 Millionen US-Dollar
Enterprise-Stufe	$499 - $999	325,2 Millionen US-Dollar

Gebühren für die Transaktionsbearbeitung

Der Umsatz aus der Transaktionsverarbeitung belief sich im Geschäftsjahr 2023 auf 272,6 Millionen US-Dollar, bei einer durchschnittlichen Bearbeitungsgebühr von 2,7 % pro Transaktion.

• Gesamtes verarbeitetes Zahlungsvolumen: 23,4 Milliarden US-Dollar
• Durchschnittlicher Transaktionswert: 87,50 $
• Anzahl der verarbeiteten Transaktionen: 267 Millionen

Verkauf von Hardware und Ausrüstung

Der Hardware-Umsatz für das Geschäftsjahr 2023 erreichte 94,3 Millionen US-Dollar.

Hardware-Kategorie	Durchschnittspreis	Geschätzter Jahresumsatz
POS-Terminals	$899	45,2 Millionen US-Dollar
Kassenschubladen	$249	18,7 Millionen US-Dollar
Belegdrucker	$349	30,4 Millionen US-Dollar

Professionelle Dienstleistungen und Beratung

Der Umsatz mit professionellen Dienstleistungen belief sich im Geschäftsjahr 2023 auf insgesamt 63,7 Millionen US-Dollar.

• Durchschnittlicher Wert des Beratungsengagements: 12.500 $
• Gesamtzahl der professionellen Serviceeinsätze: 5.100
• Durchschnittlicher Beratungsstundensatz: 275 $

Kauf von Add-on-Softwaremodulen

Der Umsatz mit Add-on-Softwaremodulen belief sich im Geschäftsjahr 2023 auf 87,2 Millionen US-Dollar.

Softwaremodul	Monatspreis	Geschätzter Jahresumsatz
Erweiterte Berichterstattung	$49	22,3 Millionen US-Dollar
Bestandsverwaltung	$79	35,6 Millionen US-Dollar
Kundenbindungsprogramm	$99	29,3 Millionen US-Dollar

Lightspeed Commerce Inc. (LSPD) - Canvas Business Model: Value Propositions

You're looking at the core value Lightspeed Commerce Inc. delivers to its merchants as of late 2025. It's all about making commerce simpler and more profitable for small and medium-sized businesses (SMBs).

Unified omnichannel platform for seamless in-store and online operations.

The platform's primary value is unifying the physical store experience with the online presence. This means inventory, customer data, and sales reporting flow across all channels without manual reconciliation.

• Seamless integration between physical Point of Sale (POS) and eCommerce.
• Single view of inventory across all sales channels.
• Consistent customer experience whether shopping in-store or online.

Integrated payments and POS to simplify operations and increase ARPU (Monthly ARPU ~$489 in FY2025).

By embedding payments directly into the POS, Lightspeed Commerce Inc. drives higher revenue per customer location. This integration simplifies compliance and reconciliation for the merchant.

Here's the quick math on the revenue capture from this integration:

Metric	Value as of March 31, 2025	Context
Monthly ARPU (Excluding Ecwid)	~$489	Year-over-year growth of 13%
Monthly ARPU (New Definition)	~$545	Up from ~$482 in prior year
Subscription ARPU Growth	11%	Driven by pricing and product enhancements
Fiscal 2025 Total Revenue	$1,076.8 million	18% increase year-over-year

This focus on the unified offering is what pushes those Average Revenue Per User (ARPU) numbers up. If onboarding takes 14+ days, churn risk rises, so the simplicity of the integrated offering is key.

Advanced inventory management and data analytics for complex SMBs.

For retailers with complex needs, the platform offers tools that go beyond basic transaction processing. You get the depth required to manage sophisticated stock levels and gain actionable business insights.

• Granular inventory tracking for multi-location or high-SKU businesses.
• Data analytics to inform purchasing and merchandising decisions.
• Tools designed for industry-specific workflows in Retail and Hospitality.

Financial services like Lightspeed Capital for merchant cash advances.

Lightspeed Capital provides fast, flexible financing built directly into the platform. This is not a loan; it's a purchase of future receivables, which means payments adjust based on daily sales volume. The company sees significant room for growth here; peers are advancing 1% of Gross Transaction Volume (GTV) in merchant cash advances, which for Lightspeed Commerce Inc. could equate to almost $1 billion.

The actual deployment in Fiscal 2025 was more conservative:

Lightspeed Capital Metric	Amount/Rate
MCAs Advanced in FY2025	$45 million
Estimated FY2026 Growth Rate	30%
Typical Holdback Rate	5-20% of daily credit card sales
Funding Speed	As soon as two business days

The company funds 100% of these advances on its balance sheet, maintaining default rates in the very low single digits.

Enterprise-grade tools without enterprise-grade complexity, defintely.

The value proposition here is delivering powerful functionality that typically requires a large IT department, but packaged for the owner-operator. You get the scale without the overhead.

• Tools built to handle $33.9 billion in Gross Payment Volume (GPV) for Fiscal 2025.
• Subscription gross margin grew to 81% in the quarter ended March 31, 2025.
• FY2025 EBITDA was guided to be more than $53M.

Finance: draft 13-week cash view by Friday.

Lightspeed Commerce Inc. (LSPD) - Canvas Business Model: Customer Relationships

You're looking at how Lightspeed Commerce Inc. keeps its merchants engaged and spending more on the platform, which is key since they are focusing on profitability and ARPU expansion in fiscal 2026.

Dedicated account management and customer success teams for upselling.

The success of upselling and cross-selling efforts is clearly reflected in the retention figures. Lightspeed Commerce Inc. achieved a Net revenue retention of 113% in fiscal 2025. This metric shows that growth from the existing customer base significantly outpaced churn. The company employs a tiered customer success program, which definitely includes dedicated account managers specifically for high-value clients. The strategic focus is on attaching Payments, analytics, eCommerce, and NuORDER B2B to drive Average Revenue Per User (ARPU) expansion across both retail and hospitality customer bases. The Monthly ARPU for the quarter ending December 31, 2024, grew 19% year-over-year to approximately $533.

The following table summarizes key metrics showing the success of the upselling and retention strategy:

Metric	Value/Rate (Latest Available FY2025 Data)	Period/Context
Net Revenue Retention	113%	Fiscal 2025
Monthly ARPU	~$533	Quarter ended December 31, 2024
Subscription ARPU Growth	11%	Quarter ended March 31, 2025
Software ARPU Growth	10%	Quarter ended September 30, 2025 (Fiscal Q2 2026)

Automated, self-service onboarding for core software features.

While specific onboarding completion rates aren't public, the data suggests a clear segmentation in customer support needs. Churn rates are reported as being concentrated among smaller customers, which often correlates with less intensive, more self-service onboarding for basic features. The company is actively working to improve profitability by focusing on cost control and efficiency, which supports a scalable, automated approach for the lower end of the customer base. The overall Monthly ARPU for the quarter ending March 31, 2025, was ~$489, showing growth even as the company refined its customer base definition.

High-touch, consultative sales approach for high Gross Transaction Volume (GTV) merchants.

Lightspeed Commerce Inc. directs high-touch resources toward its most valuable merchants. The company's typical customers for Lightspeed Capital are established retailers and restaurateurs processing $500,000 or more in annual Gross Transaction Volume (GTV). The sales focus is on scaling outbound and field sales motions in the growth engines-retail in North America and hospitality in Europe. The company planned to grow its outbound sales team from 130 to 150 before the end of the fiscal year to continue targeting small, medium-sized, and mid-market customers. The number of Customer Locations with GTV exceeding $1 million/year increased by 3% year-over-year as of December 31, 2024. Revenue from Lightspeed Capital, which services these high-GTV merchants, increased 96% year-over-year for the quarter ending December 31, 2024.

The company specifically notes that high GTV merchants choose Lightspeed Commerce Inc. for its ability to handle complex inventory management and support omni-channel, multi-location environments. For example, they renewed contracts with three of the largest North American department stores.

Community-building and educational resources for independent businesses.

Lightspeed Commerce Inc. supports independent businesses through its platform's analytical tools, which serve as an educational resource for performance improvement. Lightspeed Analytics provides reports to measure and review employee performance, including metrics like:

• Customer capture rate performance over time.
• Upsells.
• Customer lifetime value by employee.

The company's focus on North American retail and European hospitality, where they have a strong competitive moat, suggests targeted educational content for those specific vertical needs. The total GTV processed through the platform was $23.5 billion for the quarter ending December 31, 2024.

Finance: draft 13-week cash view by Friday.

Lightspeed Commerce Inc. (LSPD) - Canvas Business Model: Channels

You're looking at how Lightspeed Commerce Inc. gets its platform and services into the hands of merchants, which is clearly segmented based on their focused growth engines as of late 2025. The strategy centers on direct engagement for complex clients and digital reach for broader adoption.

The direct sales motion is heavily weighted toward acquiring and servicing merchants with higher complexity, specifically those with multi-location needs. This is where the outbound sales capacity is being intentionally scaled up. The plan is to grow the outbound sales team from 130 to 150 before the end of the fiscal year to continue targeting small and medium-sized businesses, as well as mid-market customers. This focus aligns with the goal of attracting customers with a higher Gross Transaction Volume (GTV) and more complex needs.

The Monthly Average Revenue Per User (ARPU) for Lightspeed Commerce Inc. grew 13% year-over-year in Fiscal 2025, reaching ~$489. This growth is attributed to outbound sales teams landing larger, more sophisticated customers.

The company's primary channels are now concentrated on its two high-conviction growth engines, which account for the majority of its revenue, Customer Locations, and GTV.

Here's a look at the performance metrics tied to these core channels and regions for the fiscal year ended March 31, 2025, and the most recent quarter:

Metric	Fiscal Year 2025 (Ended Mar 31, 2025)	Q2 Fiscal 2026 (Ended Sep 30, 2025)
Total Revenue	$1,076.8 million	$319 million
Transaction-based Revenue	$697.3 million (up 28% YoY)	$215.8 million (up 17% YoY)
Subscription Revenue	$344.8 million (up 7% YoY)	$93.5 million (up 9% YoY)
Focus Market Revenue Drivers	Retail in North America & Hospitality in Europe	Retail in North America & Hospitality in Europe

For self-service adoption, the online platform and app store serve as the entry point, though the strategic emphasis on outbound sales for higher-value clients suggests a blended approach. The company's overall revenue growth for Fiscal 2025 was 18% year-over-year, reaching over $1 billion for the first time.

The partner referral network remains a component of the channel strategy, though its contribution is managed carefully. Revenue streams resulting from certain partner referrals were noted as remaining in line with expectations, particularly given the unification of POS and payments solutions, which some partners might perceive as competitive.

Local marketing and field sales efforts are explicitly aligned with the two core geographic and vertical focuses. Lightspeed Commerce Inc. is strategically investing its growth dollars in:

• Retail Customers in North America: Serving complex retailers across verticals like Apparel & Footwear, Jewelry & Watches, and Sports & Leisure.
• Hospitality Customers in Europe: Targeting a fragmented market where Lightspeed is already a market leader across France, Germany, the UK, and Benelux.

In Q2 of Fiscal 2026, Lightspeed Commerce Inc. added another 2,000 customers to the platform. The company is expanding its sales teams in key European cities like Germany, France, the U.K., and Benelux to support this field sales channel.

Lightspeed Commerce Inc. (LSPD) - Canvas Business Model: Customer Segments

You're looking at the core of Lightspeed Commerce Inc.'s strategy: who they serve. The focus has definitely sharpened, moving away from a broader base to concentrate on where they see the best long-term value. This means targeting Small and Medium-sized Businesses (SMBs) that have operational needs complex enough to truly benefit from an integrated platform, not just a simple cash register.

The company's entire transformation plan, executed through Fiscal 2025, centered on two main growth engines. These are the segments Lightspeed is actively prioritizing with product innovation and dedicated go-to-market teams.

• Primary Growth Engine: Retail customers in North America. This segment includes complex retailers across key verticals.
• Primary Growth Engine: Hospitality customers in Europe. This is where Lightspeed sees a fragmented market and strong product-market fit, covering restaurants and bars in regions like France, Germany, the UK, and Benelux.

The company's overall scale is significant, having delivered annual revenue exceeding $1 billion for the first time in Fiscal 2025, with total revenue reaching $1,076.8 million for the year ended March 31, 2025. Still, the growth is concentrated. As of June 30, 2025, the combined Customer Locations in these two growth engines stood at approximately 90,000, representing a 5% year-over-year growth for that specific cohort. Lightspeed expects a ~10-15% three-year Compound Annual Growth Rate (CAGR) for Customer Locations in these two engines between Fiscal 2025 and Fiscal 2028.

The ideal customer profile is clearly defined by transaction volume, which signals a deeper commitment to the platform and higher potential for payments revenue. This is the merchant that needs the full, end-to-end system.

• Merchants with GTV exceeding $500,000/year. This group represents the target for Lightspeed Capital services, often looking to expand or optimize inventory using financing integrated with platform insights.
• Specialty verticals. This includes specific, high-value niches like private golf clubs-evidenced by signing the St Andrews Links Trust-and high-volume restaurants that require robust, localized, and fiscally compliant solutions.

Here's a quick look at how the high-value segment has been trending, based on the latest available data points from the end of Fiscal 2025 and early Fiscal 2026 reporting periods:

Metric	Reporting Period End Date	Value/Change
Customer Locations with GTV > $500,000/year Growth	March 31, 2025 (FY25 End)	Flat year-over-year
Customer Locations with GTV > $500,000/year Growth	December 31, 2024 (Q3 FY25)	Increased 1% year-over-year
Customer Locations with GTV > $1 Million/year Growth	March 31, 2025 (FY25 End)	Increased 2% year-over-year
Monthly ARPU (Average Revenue Per User)	Fiscal 2025 Year End	~$489 (up 13% YoY)
Monthly ARPU (Average Revenue Per User)	December 31, 2024 (Q3 FY25)	~$533 (up 19% YoY)

The focus on higher GTV merchants is also reflected in the Average Revenue Per User (ARPU) growth, which management attributed to landing larger, more sophisticated customers. For the full Fiscal 2025, Monthly ARPU grew 13% year-over-year to ~$489. To be fair, the growth rate in the high-GTV segment was flat at the very end of the fiscal year, which might suggest onboarding friction or market softness impacting the largest potential clients right then.

Lightspeed Commerce Inc. (LSPD) - Canvas Business Model: Cost Structure

You're looking at the cost side of Lightspeed Commerce Inc.'s (LSPD) business as of late 2025, which is heavily influenced by the mix of transaction processing costs and strategic investment in product development. The cost structure reflects a company balancing growth with a new focus on efficiency following its transformation review.

The primary variable cost tied directly to revenue is the Cost of Revenue (CoR), which is dominated by transaction processing fees for Lightspeed Payments. With total Fiscal 2025 revenue hitting $1,076.8 million, and the overall gross margin reported at 44%, the implied Cost of Revenue for the year was approximately $603.0 million (calculated as $1,076.8 million (1 - 0.44)). This directly impacts the gross margin, which is a key metric for the payments-heavy portion of the business; the transaction-based gross margin was 29% for the full year, while subscription gross margin improved to 81% for the fourth quarter, showing a clear margin divergence between the two revenue streams.

Lightspeed Commerce Inc. has been deliberate about controlling its operating expenses, especially in Sales and Marketing (S&M) and Research and Development (R&D). The stated discipline meant keeping these expenses flat to down year-over-year for Fiscal 2025, a significant shift in focus. For instance, S&M expenses for the full Fiscal 2025 year were essentially flat, increasing by only $0.6 million compared to Fiscal 2024, and the S&M spend as a percentage of revenue actually decreased to 23% in the fourth quarter of 2025.

Personnel costs form a substantial part of the fixed and semi-fixed cost base, covering engineering, sales, and customer support staff necessary to maintain and innovate the platform. Share-based compensation, a component of these personnel costs, was $16.5 million included within Sales and Marketing expenses for Fiscal 2025.

A major, non-recurring cost event in the cost structure for Fiscal 2025 was the significant one-time charge related to asset valuation. Lightspeed Commerce Inc. recorded a non-cash goodwill impairment charge of ($556.4) million in Fiscal 2025. This charge was triggered by changes in macroeconomic conditions and a decrease in the company's share price and market capitalization, leading to the carrying amount of net assets exceeding their implied fair value.

Here is a breakdown of the key financial components impacting the Cost Structure for Fiscal 2025:

Financial Metric	Amount (USD Millions)	Context/Notes
Total Revenue	$1,076.8	Full Fiscal Year 2025
Implied Cost of Revenue (CoR)	~$603.0	Calculated based on $1,076.8M Revenue and 44% Gross Margin
Reported Gross Margin	44%	Full Fiscal Year 2025
Goodwill Impairment Charge	($556.4)	Non-cash charge in FY2025
Sales & Marketing (S&M) Change YoY	0% (or +$0.6M)	Reflecting cost discipline for FY2025
S&M as % of Revenue (Q4)	23%	Down from 25% in Q4 2024

The expense management focus for Lightspeed Commerce Inc. can be summarized by the following operational cost areas:

• Cost discipline applied to Sales and Marketing (S&M) and Research and Development (R&D) expenses.
• Investment in personnel costs for engineering, sales, and customer support remains a core operating expense.
• Transaction-based CoR is variable, tied to Gross Payment Volume (GPV) growth of 40% for the year.
• The large ($556.4) million goodwill charge significantly impacted the reported operating loss for the year.

To be fair, the push for cost discipline in S&M and R&D is a direct response to the need to improve profitability metrics like Adjusted EBITDA, which reached $53.7 million for the full year 2025, up from $1.3 million in 2024. Finance: draft 13-week cash view by Friday.

Lightspeed Commerce Inc. (LSPD) - Canvas Business Model: Revenue Streams

You're looking at the core ways Lightspeed Commerce Inc. makes money as of late 2025, and the numbers show a clear focus on transaction volume.

The two largest components of revenue for Lightspeed Commerce Inc. in Fiscal Year 2025 were transaction-based fees and recurring software subscriptions. For the full fiscal year ended March 31, 2025, the company delivered total revenue of $1,076.8 million, marking the first time annual revenue exceeded the $1 billion mark. This performance was driven by an 18% year-over-year growth in total revenue.

Here's the quick math on how those two primary streams contributed to that total for FY2025:

Revenue Stream Category	FY2025 Amount (USD)	Year-over-Year Growth (FY2025)
Transaction-based Revenue	$697.3 million	28%
Subscription Revenue	$344.8 million	7%

Transaction-based Revenue comes from fees generated by embedded payment processing. This stream saw significant growth in FY2025, increasing by 28% year-over-year, totaling $697.3 million for the year. This indicates that the strategy of increasing payments adoption among merchants is directly impacting the top line.

Subscription Revenue represents the more stable, recurring fees you pay for access to the core software, which includes the Point-of-Sale (POS) systems, e-commerce platforms, and various add-on modules. This stream totaled $344.8 million in FY2025, growing 7% year-over-year. You can see the stickiness of this revenue in the Average Revenue Per User (ARPU) metric; the subscription ARPU grew 11% year-over-year, while the overall Monthly ARPU reached approximately $489.

Beyond these two major pillars, Lightspeed Commerce Inc.'s revenue model incorporates other streams that support the platform ecosystem:

• Lightspeed Capital: Interest and fees generated from offering merchant cash advances. In the first quarter of fiscal 2025, this segment showed very strong momentum, with revenue increasing 388% year-over-year.
• Hardware sales, which are generally low-margin but serve as an entry point to secure the higher-margin software and payments contracts.
• Professional services and implementation fees associated with onboarding larger or more complex merchant locations.

The company's focus in Fiscal 2026 is clearly on growing the software revenue component, aiming to enhance profitability metrics like Adjusted EBITDA, which finished FY2025 at $53 million.

Finance: draft 13-week cash view by Friday.