Lightspeed Commerce Inc. (NYSE:LSPD) (TSX:LSPD) ("Lightspeed" or the "Company"), the one-stop commerce platform empowering merchants to provide the best omnichannel experiences, today announced a reorganization to further optimize its operations toward executing on the Company's focused profitable growth strategy. This initiative is designed to prioritize resources for strategic areas of the business, maximizing the Company's long-term growth opportunity, and redefining the organizational structure and operations of other areas of the business.

The reorganization will impact approximately 200 individuals, with the resulting savings being redeployed across other areas of Lightspeed's business, in line with the Company's strategic objective of further driving profitable growth. Lightspeed expects that the majority of the restructuring charges will be incurred in the third quarter of fiscal 2025.

The Company continues to be engaged in its previously announced review of strategic alternatives. The reorganization announced today is part of Lightspeed's optimization efforts aimed at achieving profitable growth, and does not affect, or inhibit, the ongoing strategic review process. There can be no assurances given, at this time, as to the outcome of this strategic review.

Lightspeed reaffirms its previously-established revenue and Adjusted EBITDA financial outlook as set out in its press release dated November7th, 2024.