Hey Jiggy. Awesome name! Awesome write-up! I think there is a mistake in your adj ebitda margin calcs for 2Q20 and 2Q21, but man, this is some top notch stuff. I look forward to reading your work in the future. Thanks for sharing!
I got it at (5.2%) this year vs (6.1%) last year, but I could easily be wrong (I make mistakes like it's my job) and it doesn't really matter b/c it doesn't change the story one bit.
I could tell you were pulling the numbers from the releases tho : ). You actually cleared up the ARPU calcs for me. The only place I can find them (I've only been looking at this company hard for a day) is in the 1Q22 Earnings slide deck (#16) that shows ARPU as $230 this year vs $160 last year. I DO NOT UNDERSTAND those numbers, while yours make complete sense. I've been aware of this company since it came public, but I've always considered it "too hard" because of all the acquisitions + they don't have all the numbers laid out in an easily accessible way. You cleared that right up and I think we've got lots of upside from here. I've looking from my spot on board the train. Thanks again for laying everything out so beautifully!
I think Lightspeed will continue to look at M&A if it brings new technology or strengthens their regional footprint in their target markets. In my view, I think they stay pat with the verticals they currently target and continue their specialized, high inventory customer strategy while they focus on cross selling their new modules!
Hey Jiggy. Awesome name! Awesome write-up! I think there is a mistake in your adj ebitda margin calcs for 2Q20 and 2Q21, but man, this is some top notch stuff. I look forward to reading your work in the future. Thanks for sharing!
Thanks Chris! Really appreciate that :)
I'll have to go and double check my numbers for Adj EBITDA but I'm pulling those right from Lightspeed quarterly releases
I got it at (5.2%) this year vs (6.1%) last year, but I could easily be wrong (I make mistakes like it's my job) and it doesn't really matter b/c it doesn't change the story one bit.
I could tell you were pulling the numbers from the releases tho : ). You actually cleared up the ARPU calcs for me. The only place I can find them (I've only been looking at this company hard for a day) is in the 1Q22 Earnings slide deck (#16) that shows ARPU as $230 this year vs $160 last year. I DO NOT UNDERSTAND those numbers, while yours make complete sense. I've been aware of this company since it came public, but I've always considered it "too hard" because of all the acquisitions + they don't have all the numbers laid out in an easily accessible way. You cleared that right up and I think we've got lots of upside from here. I've looking from my spot on board the train. Thanks again for laying everything out so beautifully!
How do you feel about the comments from Ben Axler yesterday?
Really enjoyed the write up! How do you think about further M&A opportunities for the business? Do you see them focusing on any specific verticals?
Thanks Brian! I really appreciate that.
I think Lightspeed will continue to look at M&A if it brings new technology or strengthens their regional footprint in their target markets. In my view, I think they stay pat with the verticals they currently target and continue their specialized, high inventory customer strategy while they focus on cross selling their new modules!