See the section entitled “Key Performance Indicators” in Lightspeed’s most recent MD&A available on our investor relations website and at and for more details. For greater clarity, the number of Customer Locations of the Company in the period is calculated by taking the average number of Customer Locations throughout the period. We use this measure as we believe it provides a helpful supplemental indicator of our progress in growing the revenue that we derive from our customer base. "Average Revenue Per User" or "ARPU" represents the total subscription revenue and transaction-based revenue of the Company in the period divided by the number of Customer Locations of the Company in the period. (3) ARPU as at Jand excludes customer locations attributable to the Ecwid eCommerce standalone product, which generally carry a lower ARPU. GTV excludes amounts processed through the NuORDER solution because they represent business-to-business volume rather than business-to-consumer volume and Lightspeed does not currently have a robust payments solution for business-to-business volume. GTV does not represent revenue earned by Lightspeed. "Gross Transaction Volume" or "GTV" means the total dollar value of transactions processed through Lightspeed’s cloud-based software-as-a-service platform, excluding amounts processed through the NuORDER solution, in the period, net of refunds, inclusive of shipping and handling, duty and value-added taxes. (2) For the twelve months preceding June 30, 2023, Lightspeed’s customers processed $88.4 billion in GTV through Lightspeed’s platform. A single unique customer can have multiple Customer Locations including physical and eCommerce sites and in the case of NuORDER, multiple subscriptions. Customer Locations means a billing merchant location for which the term of services have not ended, or with which we are negotiating a renewal contract, and, in the case of NuORDER, a brand with a direct or indirect paid subscription for which the terms of services have not ended or in respect of which we are negotiating a subscription renewal. (1)Ĝustomer Locations as at Jand excludes Customer Locations attributable to the Ecwid eCommerce standalone product. Customer location count and industry distribution is approximate as of Jand excludes the impact from Ecwid.
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