Lightspeed Commerce Inc. Forms Strategic Partnership With Myrtle Beach Area Golf Course Owners Association
$LSPD.TO
Lightspeed Commerce Inc. (TSX: LSPD.TO), a leading provider of cloud-based commerce solutions, has recently reported a significant increase in its quarterly revenue, driven by strong demand for its point-of-sale and e-commerce platforms. The company’s innovative technology is helping small and medium-sized businesses streamline operations and enhance customer experiences. With a robust growth trajectory and expanding global footprint, the corporation is well-positioned to capitalize on the ongoing digital transformation in the retail and hospitality sectors.
Lightspeed Commerce Inc. (NYSE:LSPD) has announced a new strategic partnership with the Myrtle Beach Area Golf Course Owners Association (MBAGCOA). This association represents over 70 premium golf courses in Myrtle Beach, a globally renowned golf destination. Through this collaboration, Lightspeed will serve as a strategic solutions partner for MBAGCOA, offering advanced retail and restaurant solutions seamlessly integrated with Omni Golf’s tee sheet technology. This integration aims to enhance the operational efficiency of golf facilities within the MBAGCOA network, providing golfers with personalized and memorable experiences. Matt Weliver, Director of Business Strategy for Lightspeed Golf, emphasized the company’s decade-long investment in understanding the Myrtle Beach market.
He noted that Lightspeed’s software capabilities and integration depth not only boost operational efficiency but also ensure that customer experiences are tailored to individual needs and preferences. The partnership aligns with the start of the golf season in Myrtle Beach and the highly anticipated Myrtle Beach Classic tournament, the first-ever PGA Tour event in the area, scheduled from May 9-12. Tracy Conner, Executive Director of MBAGCOA, highlighted the enhanced experience that Lightspeed offers to golf course operators, supported by technology that can facilitate the region’s next growth phase. Conner praised Lightspeed not only for its exceptional software but also for the remarkable team behind it, whose dedication and expertise ensure an unparalleled level of service. This partnership underscores Lightspeed Golf’s commitment to providing industry leaders with world-class technology solutions, enabling them to deliver top-notch services and drive growth.
The commerce platform powers many of the world’s best golf businesses, including Founders Group International, Landscapes Golf Management, KemperSports, TPC Myrtle Beach, Cape Kidnappers and Tobacco Road Golf Club. The company’s cloud commerce solution transforms and unifies online and physical operations, multichannel sales, expansion to new locations, global payments, financial solutions 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. With teams across North America, Europe and Asia Pacific, the company serves retail, hospitality and golf businesses in over 100 countries. In recent developments, the corporation has highlighted several new product updates aimed at increasing scalability through data-driven insights and improving customer experiences.
The company introduced margin-based pricing for retailers, enabling easier management and tracking of product profitability. Retailers can now use margins to edit prices, with Lightspeed Retail automatically calculating the right markup and price based on the desired margin for each product and its variants. Additionally, the company launched features to identify stockouts, helping retailers reduce out-of-stock days and adapt their ordering based on sales trends. Enhancements to Lightspeed’s hospitality solutions include major updates to the Order Anywhere platform, which now offers order history and account management for diners, improving repeat guest business. The company also introduced AI-powered configuration recommendations, streamlining the process of modifying menus for Lightspeed Restaurant merchants.
New third-party software integrations, such as TheFork (La Fourchette) and Dirmeier, further enhance the capabilities of Lightspeed’s hospitality solutions. The commitment to innovation is evident in its continuous efforts to support merchants in scaling, optimizing and personalizing customer experiences. The company’s recent product launches reflect its dedication to helping businesses save time, reduce overhead costs and drive customer loyalty. By providing seamless order tracking through Apple Wallet and enabling real-time payment notifications, The firm enhances the post-purchase experience for customers, ultimately increasing sales for merchants. In a significant leadership change, Lightspeed recently announced the reappointment of its Founder, Dax Dasilva, as interim CEO.
Dasilva, who previously served as the company’s CEO from its inception in 2005 until February 2022, returns to lead Lightspeed through its next stage of profitable growth. This appointment follows the company’s third-quarter financial results, which included total revenue of $239.7 million, a 27% year-over-year increase. The leadership changes also include the promotion of John Shapiro to Chief Product and Technology Officer and Patrick Pichette’s move to interim Chair of the Board. Lightspeed Commerce Inc. continues to demonstrate its commitment to innovation and growth through strategic partnerships, product enhancements and leadership changes. The efforts to provide world-class technology solutions and exceptional customer experiences position it as a leader in the retail, hospitality and golf industries. As Lightspeed moves forward, its focus on scalability, operational efficiency and customer satisfaction will likely drive continued success and growth in the global market.
**DISCLAIMER: THIS CONTENT IS FOR INFORMATIONAL PURPOSES ONLY AND SHOULD NOT BE INTERPRETED AS INVESTMENT ADVICE. INVESTING INVOLVES RISK, INCLUDING THE POTENTIAL LOSS OF PRINCIPAL. READERS ARE ENCOURAGED TO CONDUCT THEIR OWN RESEARCH AND CONSULT WITH A QUALIFIED FINANCIAL ADVISOR BEFORE MAKING ANY INVESTMENT DECISIONS.**
