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  "documentTitle": "Lightspeed Commerce, Inc. (LSPD)",
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  "authorName": "Spruce Point Capital Management",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2021-09-29 00:00:00",
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  "notes": "Uses red arrows to point out specific discrepancies between press releases and presentation materials.",
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      "kind": "callout",
      "text": "Pay close attention to the customer and processing claims made by LSPD while a private company. Even in 2015, its customer and GTV claims are wildly conflicting. By the end of 2015, its website claimed 34,000 customers and $12bn GTV. Yet, it later provided a presentation showing 24,000 customers and $8bn GTV.",
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      "text": "Pay close attention to the customer and processing claims made by LSPD while a private company. Even in 2015, its customer and GTV claims are wildly conflicting.",
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      "text": "Lightspeed Presentation (2015 figures)",
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      "text": "GTV: $12bn",
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      "text": "Source: Lightspeed Press Release, Wayback Machine, YouTube video",
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      "text": "Comparison of June, Nov, and Dec 2015 metrics for customers and GTV.",
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      "text": "2015: More Evidence of GTV Inflation",
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