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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": "How did Lightspeed get an additional 5,000 customer locations in the span of 20 days at the end of March 2021?",
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      "text": "customer locations: 140,000",
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      "text": "Lightspeed Customer Location Comments",
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      "text": "On March 11, 2021, Lightspeed initially said their pro forma customer locations for Vend would be 135,000, and then reported 140,000. How did Lightspeed get an additional 5,000 customer locations in the span of 20 days at the end of March 2021? LSPD's fiscal year end March 31, 2021 locations were reported at 119,000, implying Vend would add 16,000 locations (or 21,000 locations as revised).",
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      "kind": "quote",
      "text": "\"Looking at the building blocks of our business, everything starts with customer locations, which grew to approximately 119,000 at March 31, and is now over 140,000 on a pro forma basis, including our recent acquisition of Vend.\"",
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      "kind": "quote",
      "text": "\"Omnichannel commerce leader grows customer base by more than 20,000 customer locations worldwide, entrenches leadership position in Asia-Pacific.\" \"Subsequent to the closing of the acquisition, Lightspeed will serve as the technology partner of choice for over 135,000 customer locations worldwide...\"",
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      "kind": "quote",
      "text": "\"Lightspeed Payments had another record quarter and grew revenues both year-on-year and from the previous quarter. And we are now present in over a 140,000 customer locations when we include the recent acquisition of Vend.\"",
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      "text": "\"Omnichannel commerce leader grows customer base by more than 20,000 customer locations worldwide, entrenches leadership position in Asia-Pacific.\" — Press Release, March 11, 2021. \"Subsequent to the closing of the acquisition, Lightspeed will serve as the technology partner of choice for over 135,000 customer locations worldwide\" — Press Release, March 11, 2021. \"Lightspeed Payments had another record quarter and grew revenues both year-on-year and from the previous quarter. And we are now present in over a 140,000 customer locations when we include the recent acquisition of Vend.\" — Q4 2021 Conf Call, May 2021. \"Looking at the building blocks of our business, everything starts with customer locations, which grew to approximately 119,000 at March 31, and is now over 140,000 on a pro forma basis, including our recent acquisition of Vend.\" — Q4 2021 Conf Call, May 2021.",
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      "kind": "title",
      "text": "Something Not Adding Up With Lightspeed's Customer Locations Post Vend Acquisition",
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