GBA PRESENTS- the public games

-Our first quarter results were characterized by strong revenue growth, increased payments adoption and improved profitability, a trend that I expect to continue through fiscal 2025. We've also put measures in place to accelerate growth in our software revenue and customer locations that will largely be seen in the second half of our year.

-In Q1, we delivered revenue of $266.1 million, up 27% year-over-year and significantly higher than our previously established outlook of between $255 million and $260 million. We delivered adjusted EBITDA of $10.2 million, again, well ahead of our previously established outlook of $7 million and significantly better than adjusted EBITDA loss of $7 million in the same quarter last year. Payments penetration came in at 36% this past quarter, up meaningfully from 22% in the same quarter last year. Our growing payments penetration along with a concentrated effort to control costs, allowed us to demonstrate the leverage in our business model and deliver record quarterly adjusted EBITDA results.

https://www.fool.com/earnings/call-...peed-commerce-lspd-q1-2025-earnings-call-tra/
 
CC Highlights- LSPD**

-We continue to roll out our Tableside and tap to pay offerings in more countries within hospitality, which gives you the power of a full POS right in the palm of a server's hands. Tableside with tap to pay launch for Lightspeed Restaurants in the U.K. and Canada and tap to pay on iPhone launched in France and Australia. Our data shows that our Tableside customers have higher average check sizes, see better tips, and turn tables faster.

-Updating pricing across our portfolio of products for which we have recently started execution, this will impact revenues in the back half of the year.

Daniel Perlin--Analyst

That's great to hear. Just a quick follow-up. Any color you can give us or flavor around this updated pricing strategy that you got going into the second half, is it on products that are kind of in back book? Or are these just kind of as net new clients come on, they're coming in a little bit higher pricing?

JD Saint Martin--President

Yes, for sure. It's actually both. So we've done a lot of benchmarking. We even use external consultants to compare the value that we provide to our peers.

And given the value that we offer to our merchants with our software modules, we really see opportunities for price increases, and we expect little disruption and we actually started executing on that. And again, here, too, we expect to see the impact of that from Q3 onwards.

The only thing I'll add there, Andrew, on monetization is just as a reminder, we have about $10 billion of GTV. That's not included in our GTV numbers, that's an annual GTV number that comes the supplier network, and we have started monetization of that $10 billion of GTV in a negligible way, we should see more meaningful monetization in fiscal 2026.

Timothy Chiodo--UBS -- Analyst

Great. Thanks a lot for taking the question. I know we touched on this a little bit earlier with front book, back book on the pricing that is already starting and rolling out a little bit more as we go through the year. But maybe we could look at it in a different way in terms of trying to quantify.

Can you talk about portion of customers that might receive such a price increase on the subscription side, and the relative levels, so kind of X percent of locations receive a Y percent on average price increase so that we can get at least a rough sense or a range of what it could mean to subscription revenue once fully rolled out in terms of the pricing?

JD Saint Martin--President

Thank you for the question. The challenge is I don't think we -- I mean, it's tricky to share the exact numbers. In some ways, it is a sensitive nature, and we want to be conscious of how we share this. But what I can say for sure is that it is a significant number of customers that where we see an opportunity to make a meaningful price adjustment.

But again, we want to be careful how we communicate this -- we want to communicate with our customers, first and foremost, and that will make its way through.
 
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