MONTREAL, Sept. 29, 2021 /CNW Telbec/ - Lightspeed Commerce
Inc. (NYSE: LSPD) (TSX: LSPD) today commented on the short seller
report published today by Spruce Point Capital Management.
The report contains numerous important inaccuracies and
mischaracterizations which Lightspeed believes are misleading and
clearly intended to benefit Spruce
Point, which itself has disclosed that it stands to profit
in the event that the stock price of Lightspeed declines.
Lightspeed cautions investors to not make decisions based on this
report and instead strongly encourages them to consult credible
sources, including Lightspeed's filings with the Canadian
securities regulatory authorities and the U.S. Securities and
Exchange Commission, prior to making their investment
decisions.
Lightspeed is confident in its governance, financial reporting
and business practices. Lightspeed has consistently delivered
revenue growth since its initial listing on the Toronto Stock
Exchange in March 2019. In the
quarter ended June 30, 2021, revenue
of $115.9M increased 220% from the
prior year quarter with organic1 software and
transaction-based revenue growth of 78%.
The Company will not be providing further comment on the report
at this time as it maintains its focus on building its business and
delivering exceptional products and services for
customers.
1
|
References herein to
"organic" growth exclude the impact of any acquisitions that
occurred since the end of the prior comparable period so as to
provide a consistent basis of comparison.
|
About Lightspeed
Powering the businesses that are the backbone of the global
economy, Lightspeed's one-stop commerce platform helps merchants
innovate to simplify, scale and provide exceptional customer
experiences. The cloud solution transforms and unifies online and
physical operations, multichannel sales, expansion to new
locations, global payments, financing and connection to supplier
networks.
Founded in Montréal, Canada in
2005, Lightspeed is dual-listed on the New York Stock Exchange and
Toronto Stock Exchange (NYSE: LSPD) (TSX: LSPD). With teams across
North America, Europe and Asia
Pacific, the company serves retail, hospitality and golf
businesses in over 100 countries.
For more information, see www.lightspeedhq.com
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Forward-Looking Statements
This news release may include forward-looking information and
forward-looking statements within the meaning of applicable
securities laws ("forward-looking statements"). Forward-looking
statements are statements that are predictive in nature, depend
upon or refer to future events or conditions and are identified by
words such as "will", "expects", "anticipates", "intends", "plans",
"believes", "estimates" or similar expressions concerning matters
that are not historical facts. Such statements are based on current
expectations of Lightspeed's management and inherently involve
numerous risks and uncertainties, known and unknown, including
economic factors. A number of risks, uncertainties and other
factors may cause actual results to differ materially from the
forward-looking statements contained in this news release,
including, among other factors, those risk factors identified in
our most recent Management's Discussion and Analysis of Financial
Condition and Results of Operations, under "Risk Factors" in our
most recent Annual Information Form, and in our other filings with
the Canadian securities regulatory authorities and the U.S.
Securities and Exchange Commission, all of which are available
under our profiles on SEDAR at www.sedar.com and on EDGAR at
www.sec.gov. Readers are cautioned to consider these and other
factors carefully when making decisions with respect to
Lightspeed's subordinate voting shares and not to place undue
reliance on forward-looking statements. Forward-looking statements
contained in this news release are not guarantees of future
performance and, while forward-looking statements are based on
certain assumptions that Lightspeed considers reasonable, actual
events and results could differ materially from those expressed or
implied by forward-looking statements made by Lightspeed. Except as
may be expressly required by applicable law, Lightspeed does not
undertake any obligation to update publicly or revise any such
forward-looking statements, whether as a result of new information,
future events or otherwise.
SOURCE Lightspeed Commerce Inc.