![]() ![]() At September 30, 2020, Lightspeed had $513.1 million in unrestricted cash and cash equivalents.Adjusted EBITDA improved by $2.3 million to ($2.8) million.Net loss of ($19.5) million as compared to a net loss of ($10.1) million largely reflecting increases in non-cash expenses.Gross margin of 60%, with gross profit up by 42% versus the prior year quarter.Recurring software and payments revenue of $41.1 million, an increase of 62%.Total revenue of $45.5 million, an increase of 62%.(All comparisons are relative to the three-month period ended September 30, 2019 unless otherwise stated): Lightspeed Unveils New eCommerce Features as SMBs Transform their Businesses Digitally.Lightspeed Launches New Features to Drive Digital Transformation of Retail SMBs.Read More Lightspeed Articles From Retail Insider: Lightspeed has also released its financial results for the three-and six-month period that ended September 30, 2020. “Our partnership sets the stage to help business owners navigate through challenging times, keep pace with rapid change and adapt quickly to meet the rising demands of today’s customers.” ![]() “We believe uniting with Lightspeed highlights and amplifies our shared vision to deliver industry leading commerce enablement for small and medium-sized businesses,” said Michael DeSimone, CEO of ShopKeep. Once closed, Lightspeed’s acquisition of ShopKeep will follow the successful integration of multiple premier platforms that experienced accelerated growth following their acquisitions by Lightspeed, including that of Montréal-based Chronogolf, Sydney-based Kounta and Berlin-based Gastrofix. The acquisition will generate strong expected synergies resulting from increased gross transaction volume, the ability to leverage integrated go-to-market resources and a combined payments opportunity. “This acquisition will bring ShopKeep merchants, small and medium-sized businesses that make up the backbone of the U.S economy, into the Lightspeed family, providing them even more crucial product innovation and world-class support as they drive the reinvention of American commerce.” “ShopKeep’s commitment to enabling independent businesses to dream big and rise above industry and economic challenges is deeply aligned with our own mission to power the future of commerce,” said Dax Dasilva, Founder and CEO of Lightspeed. Following the closing of the acquisition, Lightspeed will serve over 100,000 customer locations worldwide, generating approximately US $33 billion in gross transaction volume. market share, allowing for increased investment in sales, marketing, and research and development to capitalize on the increasing demand for modern, cloud-based, omnichannel commerce solutions. The acquisition immediately expands Lightspeed’s U.S. Lightspeed’s Analytics, Loyalty, eCommerce, and Payments modules - in addition to its multi-location solution - will offer ShopKeep’s customer base the opportunity to enhance their capabilities. The scale achieved by the combination of Lightspeed and ShopKeep presents retail and restaurant business owners in the United States with enhanced resources to pivot their operations. This acquisition reinforces Lightspeed’s status as a category leader for complex retailers and restaurateurs seeking to modernize their operations as the global economy undergoes unprecedented digital acceleration. ![]() has announced its entry into a definitive agreement to acquire ShopKeep Inc., a leading cloud commerce platform provider based in New York City. Montreal-based leading provider of cloud-based, omnichannel commerce platforms Lightspeed POS Inc. ![]()
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