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  "documentTitle": "Lightspeed Commerce, Inc. (LSPD)",
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  "authorName": "Spruce Point Capital Management",
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  "presentationDate": "2021-09-29 00:00:00",
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      "text": "Using the Wayback Machine and looking carefully at LSPD’s value of customer transactions processed claims for 2013, we see three different versions. In early 2014, $6bn was listed on the Company’s website. Furthermore, during an interview, the same $6bn figure was cited and CEO DaSilva did not disagree.(1) Later in the year, the figure was revised materially higher to $7.3bn, and then finally $7.5bn. In October 2014, LSPD then acquired POSIOS and touted $8.2bn of sales transactions annually.(2)",
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      "text": "Using the Wayback Machine and looking carefully at LSPD’s value of customer transactions processed claims for 2013, we see three different versions.",
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      "text": "Three screenshots of Lightspeed website showing $6bn, $7.3bn, and $7.5bn figures.",
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      "text": "GTV: $7.5bn",
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      "text": "$6bn of transactions processed also mentioned in an interview with CEO Dasilva, Feb 21, 2014 — Footnote 1",
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      "text": "1) $6bn of transactions processed also mentioned in an interview with CEO Dasilva, Feb 21, 2014\n2) “Lightspeed now serves its software to restaurants”, The Business Journals, Oct 22, 2014",
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      "text": "2014: Early Evidence of Materially Misstated GTV",
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