Think of it as **Shopify** meets **Square** for specialty retail and restaurants.

An all-in-one operating system for retailers and restaurants, similar to a more powerful **Square**.

• Point of Sale (POS) Systems: Comprehensive software and hardware solutions for managing in-person sales, inventory, and staff primarily in retail and hospitality environments.
• eCommerce Platform: Tools enabling businesses to build, operate, and grow their online stores, seamlessly integrating with physical retail operations.
• Integrated Payments Processing: A financial service allowing businesses to securely accept various payment methods (credit, debit, mobile) directly through their Lightspeed system.
• Inventory Management & Analytics: Software features for tracking stock levels, managing product data, and generating reports to optimize business operations and sales performance.
• Lightspeed Capital: A financial service offering access to working capital and business loans for eligible Lightspeed merchants based on their sales data.

Lightspeed Commerce (LSPD) primarily sells its software and services to other businesses (B2B), specifically small and medium-sized businesses (SMBs) across various industries. Due to the nature of its business model—providing cloud-based point-of-sale (POS), e-commerce, and related solutions as a service—Lightspeed serves a vast and fragmented customer base of tens of thousands of individual merchants globally.

Therefore, Lightspeed does not have a few identifiable "major customers" in the traditional sense, such as large public companies, that represent a significant portion of its revenue. Instead, its customer base consists of a broad array of SMBs. The company categorizes the types of businesses it serves into key verticals:

• Retail: This category includes a wide range of physical and online retail establishments, such as apparel boutiques, electronics stores, sports goods retailers, home goods stores, and many other specialized retail businesses.
• Hospitality: Lightspeed provides solutions for various businesses in the hospitality sector, including restaurants, bars, cafes, quick-service establishments, and hotels.
• Golf: A significant vertical for Lightspeed, serving golf courses, pro shops, and related businesses within the golf industry.

• Amazon.com, Inc. (AMZN)
• Alphabet Inc. (GOOGL)

Dax Dasilva, Founder and CEO

Dax Dasilva is the creative mind behind Lightspeed Commerce, which he founded in 2005. He led the company through its initial public offering on the Toronto Stock Exchange in 2019, achieving a valuation of $1.7 billion, and subsequently listed it on the New York Stock Exchange. Dasilva served as CEO for 16 years, transitioned to Executive Chair for two years, and was reappointed as CEO on February 15, 2024. He also founded two non-profit organizations: Never Apart, an arts and culture organization, and Age of Union Alliance, which focuses on conservation projects globally. He studied Computer Science, Art History, and Religious Studies at the University of British Columbia.

Asha Bakshani, Chief Financial Officer

Asha Bakshani was promoted to Chief Financial Officer of Lightspeed Commerce in April 2022, having joined the company in November 2014 and previously serving as Executive VP of Finance. Prior to her tenure at Lightspeed, Ms. Bakshani was the Senior Vice President of Finance at Cineflix, a media production and distribution company. She also gained nearly a decade of experience in public accounting at Deloitte and Arthur Andersen. Ms. Bakshani is a Chartered Accountant and a CFA charterholder, holding a B. Comm and a Graduate Diploma in Accounting from McGill University.

JD Saint-Martin, President

JD Saint-Martin joined Lightspeed in May 2019 following the acquisition of Chronogolf, a SaaS company he co-founded in 2013. He quickly advanced within Lightspeed, becoming Senior Director of Global Account Management in October 2019, Senior Vice President of Global Sales in July 2020, and was appointed President in 2022. Before founding Chronogolf, Mr. Saint-Martin accumulated five years of experience in Venture Capital and Private Equity, working at Teralys Capital in Montreal and GE Equity in London, UK.

Shirvani Mudaly, Chief People Officer

Shirvani Mudaly serves as Lightspeed's Chief People Officer, a role she took on after being the VP, People & Culture, APAC. Her background includes extensive HR experience in the tech, financial, and media sectors, with 20 years in the field. Prior to Lightspeed, she held the position of Chief People Officer at Vend and Yellow in New Zealand. She holds a Bachelor of Education from the University of Auckland and a Diploma in Business Studies, Human Resources from Massey University.

Daniel Micak, Chief Legal Officer

Daniel Micak is the Chief Legal Officer at Lightspeed Commerce. Further detailed background information was not readily available in the search results.

There are several clear emerging threats to Lightspeed Commerce (LSPD):

• Shopify's Aggressive Push into Physical Retail and POS: Shopify, a dominant e-commerce platform, is increasingly investing in and promoting its Shopify POS system and integrated hardware solutions. This directly targets Lightspeed's core market of brick-and-mortar retailers and hospitality businesses, leveraging Shopify's vast merchant base and strong brand recognition to offer a compelling all-in-one solution that now spans both online and physical sales more robustly.
• Square's (Block Inc.) Continued Expansion into Comprehensive SMB Ecosystems: Square, a major player in payments and POS, is consistently enhancing its platform to cater to larger and more complex SMBs. Its robust ecosystem includes integrated hardware, software, payment processing, and financial services (like Square Capital), posing a significant threat as businesses seek consolidated solutions. Square's continuous innovation and strong market penetration directly compete with Lightspeed's offerings, particularly in the retail and hospitality sectors.
• Increasing Market Share of Highly Specialized Vertical SaaS Solutions: While Lightspeed offers a broad platform across retail and hospitality, the market is seeing a rise in highly specialized Software-as-a-Service (SaaS) providers tailored to specific niches (e.g., Toast for restaurants, or specific solutions for salons, spas, or particular retail segments). These vertical-specific solutions often provide deeper, more integrated, and industry-specific functionalities that generalist platforms like Lightspeed may struggle to match, potentially chipping away at Lightspeed's market share in these specialized areas.

Lightspeed Commerce (LSPD) is expected to drive future revenue growth over the next 2-3 years through several key strategies:

1. Growth in Customer Locations and Acquisition of High-Value Customers: Lightspeed is strategically focused on expanding its customer base, particularly by attracting larger, more sophisticated merchants in its core growth areas: North American retail and European hospitality. The company reported a 7% year-over-year increase in customer locations. It projects a compound annual growth rate (CAGR) of approximately 10-15% for customer locations within these target markets between fiscal years 2025 and 2028. This growth is driven by expanding location counts and targeted outbound sales efforts.
2. Increase in Average Revenue Per User (ARPU) and Payments Penetration: A significant driver is the continued increase in Average Revenue Per User (ARPU), which grew by 10% year-over-year in software. This is attributed to attracting larger customers, introducing new software releases, and the benefit of price increases implemented in the previous year. Furthermore, Lightspeed is seeing substantial growth in Gross Payment Volume (GPV), which rose 22% year-over-year, and an improved payments penetration rate. There are still considerable opportunities to grow payments revenue in existing markets where penetration is currently lower. The company's strategy involves selling its point-of-sale (POS) and payment solutions as a unified platform.
3. Launch of New Products and AI-Powered Innovations: Lightspeed is consistently rolling out new and innovative features to its platform. Recent introductions include AI-powered tools such as an AI showroom and AI-generated product descriptions for retailers. The company is also developing "Lightspeed AI," an AI assistant designed to help merchants access insights and make decisions directly within their POS system, enhancing omnichannel capabilities and sales productivity.
4. Strategic Focus on Core Growth Engines: Lightspeed has refined its strategy to concentrate on two primary growth engines: retail in North America and hospitality in Europe. This focused approach is yielding strong results, with Gross Transaction Volume (GTV) growing 15% year-over-year and software revenue increasing by 20% in these specific areas. This prioritization allows Lightspeed to direct resources to markets where it has a proven ability to succeed and accelerate growth.