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This chart shows Lightspeed Commerce’s Revenue by Segment, across Transaction-based, Subscription, Hardware and transaction-based segments.
|Segment||Q3 2021||Q2 2022||Q3 2022||Contribution in Q3 2022|
|Hardware and other||$5.08||$8.82||$8.25||5.4%|
|Subscription and transaction-based||$0.00||$0.00||$0.00||0.0%|
(All figures in millions, except percentages)
The total revenue of Lightspeed Commerce increased from $57.61 million in Q3 2021 to $152.68 million in Q3 2022, marking a growth of approximately 165% in revenue in just a year. The revenue also grew by $19.46 million from Q2 2022 to Q3 2022, leading to a 14.6% growth in revenue on a quarter-on-quarter basis.
Due to covid-19, the need for digital solutions has been accelerated as the SMBs look to enlarge their reach with online strategies besides the traditional in-person selling strategies. The company took some temporary measures during covid-19 including making the eCommerce platform available for free and making it possible to access Lightspeed Payments without any margin cost. This also led to an increase in the volumes processed using the company’s payment products.
Lightspeed Commerce’s revenue can be bifurcated into the following segments:
This is the revenue generated from the service that enables the customers to accept payments. It includes transaction fees and processing fees on payments. Some of the sources are Lightspeed Payments, company’s proprietary payment processing solutions and through agreements with other integrated payment partners.
This segment had the highest share of 49.7% of the company’s total revenue in Q3 2022. The total revenue grew from $21.73 million in Q3 2021 to $75.84 million in Q3 2022, marking a 249% growth in revenue in just a year. The revenue also grew by $10.82 million from Q2 2022 to Q3 2022, leading to a 16.6% growth in revenue on a quarter-on-quarter basis.
The company mainly generates revenue from the sale of cloud-based software subscriptions. The company offers monthly plans, annual plans, and even multi-year term subscriptions. The company also provides some add-ons like delivery, loyalty, and analytics. These plans are carefully designed to meet the needs of the current as well as prospective customers and to help the SMBs expand. The company also generates revenue from referral fees and through agreements with its partners.
This segment had a 44.9% share in the company’s Q3 2022 revenue. The total revenue from the subscriptions segment grew from $30.80 million to $68.59 million, from Q3 2021 to Q3 2022, representing a growth of approximately 122.7% in revenue in a year. The revenue also grew by $9.22 million in Q3 2022, as compared to $59.37 million in Q2 2022, leading to a 15.5% growth in revenue on a quarter-on-quarter basis.
Hardware & Other
The company also offers hardware services to provide some added support to the customers and to supplement its revenue. These are generally one-time revenues and include products like cash drawers, receipt printers, servers, and bar-code scanners. It also includes professional services needed for the installation as well as the implementation of the company’s solutions. Although, these solutions can also be used by the customers directly.
This segment had a 5.4% share in the company’s total revenue in Q3 2022. The total revenue grew by $3.17 million from $5.08 million in Q3 2021 to $8.25 million in Q3 2022, marking a growth of around 62.4% in revenue in a year. On the other hand, the revenue declined from $8.82 million in Q2 2022 to $8.25 million in Q3 2022, marking a fall of 6.5% in revenue on a quarter-on-quarter basis.
Subscription and Transaction-based
This segment did not have any share in Q3 2022’s revenue but it did have a 91.3% share in Q4 2021’s revenue. The company did not have any revenue in 2022.
Lightspeed Commerce was founded in 2005 and is an e-commerce software provider and point-of-sale platform based in Montreal, Canada. The company is a leader in providing software solutions and support systems to medium as well as small retailers, restaurant owners, and the hospitality sector. The company aims to empower these businesses and enable them to manage their operations, interact with customers, accept payments, and overall growth.
The company provides easy-to-use, Omni channels, and commerce enabling software service platforms. The solutions provided by the company are tailor-made to meet the needs of the SMBs and democratize the technology, which was earlier available to just large companies. The companies’ cloud platforms aim to provide comprehensive management of operations, omnichannel consumer experience, as well as facilitation of payments.
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