Lightspeed powers businesses around the world

Customer location count and industry distribution is approximate as of March 31, 2023 and excludes the impact from Ecwid.

^{(1) Customer Locations as at March 31, 2023 and excludes approximately 158,000 Customer Locations attributable to the Ecwid eCommerce standalone product. Customer Locations means a billing merchant location for which the term of services have not ended, or with which we are negotiating a renewal contract, and, in the case of NuORDER, a brand with a direct or indirect paid subscription for which the terms of services have not ended or in respect of which we are negotiating a subscription renewal. A single unique customer can have multiple Customer Locations including physical and eCommerce sites and in the case of NuORDER, multiple subscriptions. See the section entitled “Key Performance Indicators” in Lightspeed’s most recent MD&A available on our investor relations website and at www.sedar.com and www.sec.gov for more details.
(2) For the twelve months preceding March 31, 2023, Lightspeed’s customers processed $87.1 billion in GTV through Lightspeed’s platform. "Gross Transaction Volume" or "GTV" means the total dollar value of transactions processed through Lightspeed’s cloud-based software-as-a-service platform, excluding amounts processed through the NuORDER solution, in the period, net of refunds, inclusive of shipping and handling, duty and value-added taxes. GTV does not represent revenue earned by Lightspeed. GTV excludes amounts processed through the NuORDER solution because they represent business-to-business volume rather than business-to-consumer volume and Lightspeed does not currently have a robust payments solution for business-to-business volume. See the section entitled “Key Performance Indicators” in Lightspeed’s most recent MD&A available on our investor relations website and at www.sedar.com and www.sec.gov for more details.
(3) ARPU as at March 31, 2023 and excludes customer locations attributable to the Ecwid eCommerce standalone product, which generally carry a lower ARPU. Average Revenue Per User. "Average Revenue Per User" or "ARPU" represents the total subscription revenue and transaction-based revenue of the Company in the period divided by the number of Customer Locations of the Company in the period. We use this measure as we believe it provides a helpful supplemental indicator of our progress in growing the revenue that we derive from our customer base. For greater clarity, the number of Customer Locations of the Company in the period is calculated by taking the average number of Customer Locations throughout the period. See the section entitled “Key Performance Indicators” in Lightspeed’s most recent MD&A available on our investor relations website and at www.sedar.com and www.sec.gov for more details.
(4) Gross Payment Volume” or “GPV” means the total dollar value of transactions processed, excluding amounts processed through the NuORDER solution, in the period through our payments solutions in respect of which we act as the principal in the arrangement with the customer, net of refunds, inclusive of shipping and handling, duty and value-added taxes. We use this measure as we believe that growth in our GPV demonstrates the extent to which we have scaled our payments solutions. As the number of Customer Locations using our payments solutions grows, particularly those with a high GTV, we will generate more GPV and see higher transaction-based revenue. We have excluded amounts processed through the NuORDER solution from our GPV because they represent business-to-business volume rather than business-to-consumer volume and we do not currently have a robust payments solution for business-to-business volume. See the section entitled “Key Performance Indicators” in Lightspeed’s most recent MD&A available on our investor relations website and at www.sedar.com and www.sec.gov for more details.}