Lightspeed Commerce Inc. (NYSE:LSPD) Q4 2023 Results Earnings Conference Call May 18, 2023 8:00 AM ET

Company Participants

Gus Papageorgiou - Head of Investor Relations

Jean Paul Chauvet - Chief Executive Officer

Asha Bakshani - Chief Financial Officer

Conference Call Participants

Daniel Chan - TD Securities

Andrew Jeffrey - Truist Securities

Martin Toner - ATB Capital Markets

Thanos Moschopoulos - BMO Capital Markets

Tien-Tsin Huang - J.P. Morgan

Joshua Baer - Morgan Stanley

Koji Ikeda - Bank of America Securities

Suthan Sukumar - Stifel GMP

Richard Tse - National Bank Financial

Operator

Hello, and welcome to the Lightspeed Fourth Quarter 2023 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a Q&A session. [Operator Instructions].

I would now like to turn the call over to Gus Papageorgiou. Please go ahead.

Gus Papageorgiou

Thank you, operator. And good morning, everyone. Welcome to Lightspeed's fiscal Q4 2023 conference call.

Joining me today are JP Chauvet, Lightspeed's Chief Executive Officer, and Asha Bakshani, our Chief Financial Officer. After prepared remarks, we will open it up for your questions.

We will make forward-looking statements on our call today that are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Certain material factors and assumptions were applied in respect of conclusions, forecasts and projections contained in these statements. We undertake no obligation to update these statements, except as required by law. You should carefully review these factors, assumptions, risks, and uncertainties in our earnings press release issued earlier today, our fourth quarter 2023 results presentation available on our website, as well as in our filings with US and Canadian securities regulators.

Also, our commentary today will include adjusted financial measures, which are non-IFRS measures and ratios. These should be considered as a supplement to, and not a substitute for, IFRS financial measures. Reconciliations between the two can be found in our earnings press release, which is available on our website, on sedar.com and on the SEC's EDGAR system.

And finally note that because we report in US dollars, all amounts discussed today are in US dollars unless otherwise indicated.

With that, I will now turn the call over to JP.

Jean Paul Chauvet

Thank you, Gus. And welcome, everyone. Thanks for joining us this morning. Overall, I was very happy with our results this quarter. Revenue grew in line with our outlook. We achieved an organic revenue growth rate of 26%. Our GPV volumes were up by 70% year-over-year and our adjusted EBITDA loss of $4.3 million came in significantly better than expected.