Lightspeed POS Inc. (“Lightspeed” or the “Company”) was incorporated on March 21, 2005 under the Canada Business Corporations Act. a. Lightspeed provides easy-to-use, omni-channel, commerce-enabling platforms. The Company’s software
platforms provide its customers with the critical functionalities they need to engage with consumers, manage their operations, accept payments, and grow their business. Lightspeed has customers globally in over 100 countries, empowering single- and multi-location small and medium-sized businesses to compete in an omni-channel market environment by engaging with consumers across online, mobile, social, and physical channels.
The Company’s shares are listed on both the Toronto Stock Exchange and the New York Stock Exchange (“NYSE”) under the stock symbol “LSPD” in the year 2019.
The company’s cloud platforms are designed around three interrelated elements: front-end consumer experience, back-end operations management to improve our customers’ efficiency and insight, and the facilitation of payments. Key functionalities of our platforms include full omni-channel capabilities, point of sale (“POS”), product and menu management, inventory management, analytics and reporting, multi-location connectivity, loyalty and customer management. Our position at the point of commerce puts us in a privileged position for payment processing and allows us to collect transaction-related data insights. Lightspeed Payments, our payment processing solution, is currently available to North American retail customers and we have begun offering it to U.S. hospitality customers as well.
Lightspeed Commerce generates revenue by selling hardware point-of-sales devices to retail and restaurant customers, charging fees on transactions and providing subscription-software services. Because of the pandemic the businesses and hospitality industry experience immense loss this also reflects from the company’s bar graph.