Lesaka Announces Preliminary FY2025 Results, Delivers on FY2025 Profitability Guidance, Reaffirms FY2026 Profitability Outlook, and Sets FY2026 Profitability per Share Guidance, reflecting more than 100% Year-on-Year Growth
Lesaka Technologies (NASDAQ:LSAK) has released preliminary FY2025 results, achieving its profitability guidance and setting ambitious targets for FY2026. The company reported FY2025 net revenue of $328.7 million, up 38% in ZAR, and Group Adjusted EBITDA of $50.7 million, a 33% increase in ZAR.
Despite posting a net loss of $87.5 million, largely due to non-operating charges including a $49.3 million MobiKwik-related charge and $18.4 million in impairment losses, the company's adjusted earnings reached $10.4 million, up 263% in ZAR. For FY2026, Lesaka expects net revenue between ZAR 6.4-6.9 billion and projects adjusted earnings per share of at least ZAR 4.60, representing over 100% year-on-year growth.
The company also announced a restatement of its FY2025 interim results due to revenue classification issues, though this will not impact reported operating income, net loss, or cash flows.
Lesaka Technologies (NASDAQ:LSAK) ha pubblicato risultati preliminari per l'esercizio FY2025, confermando il raggiungimento delle previsioni di redditivit脿 e fissando obiettivi ambiziosi per il FY2026. La societ脿 ha registrato ricavi netti FY2025 per $328,7 milioni, in aumento del 38% in ZAR, e un Group Adjusted EBITDA di $50,7 milioni, con un incremento del 33% in ZAR.
Nonostante una perdita netta di $87,5 milioni, in gran parte dovuta a oneri non operativi, inclusa una voce di $49,3 milioni legata a MobiKwik e svalutazioni per $18,4 milioni, l'utile rettificato 猫 salito a $10,4 milioni, +263% in ZAR. Per il FY2026 Lesaka prevede ricavi netti tra ZAR 6,4 e 6,9 miliardi e stima un utile rettificato per azione di almeno ZAR 4,60, oltre il 100% di crescita anno su anno.
La societ脿 ha inoltre annunciato la riformulazione dei risultati intermedi FY2025 a causa di problemi nella classificazione dei ricavi, precisando che ci貌 non influir脿 sul reddito operativo riportato, sulla perdita netta n茅 sui flussi di cassa.
Lesaka Technologies (NASDAQ:LSAK) ha publicado resultados preliminares del ejercicio FY2025, cumpliendo su gu铆a de rentabilidad y estableciendo objetivos ambiciosos para FY2026. La compa帽铆a inform贸 ingresos netos FY2025 de $328,7 millones, un aumento del 38% en ZAR, y un Group Adjusted EBITDA de $50,7 millones, un 33% m谩s en ZAR.
A pesar de registrar una p茅rdida neta de $87,5 millones, mayormente por cargos no operativos 鈥攊ncluido un cargo relacionado con MobiKwik de $49,3 millones y $18,4 millones en p茅rdidas por deterioro鈥�, las ganancias ajustadas alcanzaron $10,4 millones, un aumento del 263% en ZAR. Para FY2026, Lesaka espera ingresos netos entre ZAR 6,4-6,9 mil millones y proyecta ganancias ajustadas por acci贸n de al menos ZAR 4,60, lo que representa m谩s del 100% de crecimiento interanual.
La compa帽铆a tambi茅n anunci贸 la rectificaci贸n de sus resultados interinos FY2025 debido a problemas de clasificaci贸n de ingresos, aunque esto no afectar谩 al beneficio operativo informado, a la p茅rdida neta ni a los flujos de efectivo.
Lesaka Technologies (NASDAQ:LSAK)臧� FY2025 鞛犾爼 鞁れ爜鞚� 氚滍憸頃橂┌ 靾橃澋靹� 臧�鞚措崢鞀るゼ 雼劚頄堦碃 FY2026鞐� 雽�頃� 鞎检嫭彀� 氇╉憸毳� 鞝滌嫓頄堨姷雼堧嫟. 須岇偓電� FY2025 靾滊Г於� $328.7氚彪鞚� 氤搓碃頄堨溂氅� 鞚措姅 ZAR 旮办鞙茧 38% 歃濌皜頄堦碃, 攴鸽９ 臁办爼 EBITDA電� $50.7氚彪鞙茧 ZAR 旮办 33% 歃濌皜頄堨姷雼堧嫟.
牍勳榿鞐� 牍勳毄鞙茧 鞚疙暅 $49.3氚彪鞚� MobiKwik 甏�霠� 靻愳嫟 氚� $18.4氚彪鞚� 靻愳儊彀啇 霌膘溂搿� 鞚疙暣 靾滌啇鞁� $87.5氚彪鞚� 旮半頄堨毵�, 臁办爼 靾滌澊鞚奠潃 $10.4氚彪鞙茧 ZAR 旮办 263% 歃濌皜頄堨姷雼堧嫟. FY2026鞐� 雽�頃� Lesaka電� 靾滊Г於滌潉 ZAR 64鈥�69鞏�(6.4-6.9 billion)鞙茧, 臁办爼 欤茧嫻靾滌澊鞚奠潉 斓滌唽 ZAR 4.60鞙茧 鞝勲頃橂┌ 鞚措姅 鞝勲厔 雽�牍� 100% 鞚挫儊鞚� 歃濌皜毳� 鞚橂頃╇媹雼�.
須岇偓電� 霕愴暅 靾橃澋 攵勲 氍胳牅搿� FY2025 欷戧皠 鞁れ爜鞚� 鞝曥爼鞚� 氚滍憸頄堨溂雮�, 鞚措 鞚疙暣 氤搓碃霅� 鞓侅梾鞚挫澋, 靾滌啇鞁� 霕愲姅 順勱笀頋愲鞐愲姅 鞓來枼鞚� 鞐嗠嫟瓿� 氚濏様鞀惦媹雼�.
Lesaka Technologies (NASDAQ:LSAK) a publi茅 des r茅sultats pr茅liminaires pour l'exercice FY2025, confirmant l'atteinte de ses objectifs de rentabilit茅 et fixant des objectifs ambitieux pour FY2026. La soci茅t茅 a d茅clar茅 un chiffre d'affaires net FY2025 de 328,7 M$, en hausse de 38% en ZAR, et un Group Adjusted EBITDA de 50,7 M$, en hausse de 33% en ZAR.
Malgr茅 une perte nette de 87,5 M$, principalement imputable 脿 des charges non op茅rationnelles dont un poste li茅 脿 MobiKwik de 49,3 M$ et des pertes de valeur de 18,4 M$, le b茅n茅fice ajust茅 a atteint 10,4 M$, en hausse de 263% en ZAR. Pour FY2026, Lesaka pr茅voit des revenus nets compris entre ZAR 6,4 et 6,9 milliards et projette un b茅n茅fice ajust茅 par action d'au moins ZAR 4,60, soit une croissance de plus de 100% d'une ann茅e sur l'autre.
La soci茅t茅 a 茅galement annonc茅 la rectification de ses r茅sultats int茅rimaires FY2025 en raison de probl猫mes de classification des revenus, pr茅cisant que cela n'affectera pas le r茅sultat d'exploitation d茅clar茅, la perte nette ni les flux de tr茅sorerie.
Lesaka Technologies (NASDAQ:LSAK) hat vorl盲ufige Ergebnisse f眉r das Gesch盲ftsjahr FY2025 ver枚ffentlicht, dabei seine Rentabilit盲tsprognose erreicht und ehrgeizige Ziele f眉r FY2026 angek眉ndigt. Das Unternehmen meldete Nettoerl枚se FY2025 in H枚he von $328,7 Mio., ein Plus von 38% in ZAR, sowie ein Group Adjusted EBITDA von $50,7 Mio., ein Anstieg von 33% in ZAR.
Trotz eines ausgewiesenen Nettoverlusts von $87,5 Mio., der gr枚脽tenteils auf nicht operative Aufwendungen zur眉ckzuf眉hren ist 鈥� darunter eine MobiKwik-bezogene Belastung von $49,3 Mio. und Wertminderungen von $18,4 Mio. 鈥� stiegen die bereinigten Gewinne auf $10,4 Mio., ein Anstieg von 263% in ZAR. F眉r FY2026 erwartet Lesaka Nettoerl枚se zwischen ZAR 6,4鈥�6,9 Milliarden und prognostiziert ein bereinigtes Ergebnis je Aktie von mindestens ZAR 4,60, was einem j盲hrlichen Wachstum von 眉ber 100% entspricht.
Das Unternehmen k眉ndigte au脽erdem eine Korrektur der vorl盲ufigen FY2025-Zwischenergebnisse wegen Problemen bei der Umsatzklassifikation an, betont jedoch, dass dies das ausgewiesene Betriebsergebnis, den Nettoverlust oder die Cashflows nicht beeinflussen werde.
- Net revenue increased 38% year-over-year to $328.7 million in FY2025
- Group Adjusted EBITDA grew 33% to $50.7 million, meeting guidance
- Adjusted earnings surged 263% to $10.4 million
- FY2026 guidance projects over 100% growth in adjusted earnings per share
- Q4 2025 showed strong performance with 47% net revenue growth
- Net loss increased 386% to $87.5 million in FY2025
- Required restatement of FY2025 interim financial results due to revenue classification issues
- Recorded $49.3 million non-cash charge related to MobiKwik
- Incurred $18.4 million in impairment losses
- Withdrew previously provided FY2026 revenue guidance due to restatement
Insights
Lesaka delivered strong operational growth despite reporting net losses due to significant non-cash charges; FY2026 outlook projects continued momentum.
Lesaka's preliminary FY2025 results demonstrate strong operational growth beneath accounting complexity. The company achieved 38% year-over-year Net Revenue growth to
Stripping away these accounting adjustments reveals Adjusted earnings of
The Q4 results follow similar patterns with 47% Net Revenue growth and 61% Adjusted EBITDA growth, demonstrating accelerating performance as the fiscal year progressed.
Looking forward, management's FY2026 guidance is notably bullish, projecting Net Revenue between
Investors should note the accounting restatement disclosure, which will impact how revenue is classified (principal vs. agent) but won't affect operating income, net loss, or cash flows. This explains why management withdrew previous FY2026 revenue guidance while maintaining profitability projections.
The significant gap between GAAP losses and non-GAAP adjusted earnings metrics highlights the importance of understanding these adjustments when evaluating Lesaka's true operational performance. The company appears to be executing well on its core business while managing through non-recurring items and accounting complexities.
JOHANNESBURG, Sept. 10, 2025 (GLOBE NEWSWIRE) -- Lesaka Technologies, Inc. (Nasdaq: LSAK; JSE: LSK) today released preliminary unaudited results for the fourth quarter (鈥淨4 2025鈥�) and full year of fiscal 2025 (鈥淔Y2025鈥�).
FY2025 performance:
All growth rates are year-on-year between FY2025 and FY2024.
- Net Revenue (a non-GAAP measure) of
$328.7 million (ZAR 5.3 billion), up38% in ZAR. - Net Loss of
$87.5 million (ZAR 1.6 billion), up386% in ZAR largely due to inclusion of a tax adjusted$49.3 million (ZAR 897.6 million) non-operating, non-cash charge relating to a change in fair value and sale of MobiKwik (a non-core asset), a tax adjusted non-cash charge from impairment losses of$18.4 million (ZAR 326.2 million) and once-off transaction costs of$17.8 million (ZAR 321.9 million). - Group Adjusted EBITDA (a non-GAAP measure) of
$50.7 million (ZAR 922.2 million), up33% in ZAR, achieving guidance provided. - Basic loss per share of
$1.14 (ZAR 19.49), up284% in ZAR. - Adjusted earnings (a non-GAAP measure) of
$10.4 million (ZAR 186.2 million), up263% in ZAR. - Adjusted earnings per share (a non-GAAP measure) of
$0.13 (ZAR 2.29), up187% in ZAR.
Q4 2025 performance:
All growth rates are year-on-year between Q4 2025 and Q4 2024.
- Net Revenue of
$82.0 million (ZAR 1.5 billion), up47% in ZAR. - Net Loss of
$28.8 million (ZAR 515 million), up452% in ZAR, largely due to inclusion of a tax adjusted$5.7 million (ZAR 101.4 million) non-operating, non-cash charge relating to a change in fair value and sale of MobiKwik (a non-core asset), a tax adjusted non-cash charge from impairment losses of$18.4 million (ZAR 326.2 million) and once-off transaction costs of$13.2 million (ZAR 237.5 million). - Group Adjusted EBITDA of
$16.7 million (ZAR 305.6 million), up61% in ZAR. - Basic loss per share of
$0.35 (ZAR 6.33), up338% in ZAR. - Adjusted earnings (a non-GAAP measure) of
$4.4 million (ZAR 80.4 million), up292% in ZAR. - Adjusted earnings per share (a non-GAAP measure) of
$0.05 (ZAR 0.99), up211% in ZAR.
(1)听听听Average exchange rates applicable for the purpose of translating our results of operations: ZAR 17.90 to
Commenting on the results, Lesaka Chairman Ali Mazanderani said, 鈥淔Y2025 was a strong year for the Group, delivering on our profitability guidance and advancing key strategic priorities. We expect to maintain this momentum into FY2026, and are guiding for adjusted EBITDA growth of at least
Outlook: First Quarter 2026 (鈥淨1 2026鈥�) and Full Fiscal Year 2026 (鈥淔Y 2026鈥�) guidance
While we report our financial results in USD, we measure our operating performance in ZAR, and as such we provide our guidance accordingly.
For Q1 FY2026, the quarter ending September 30, 2025, we expect:
- Net Revenue between ZAR 1.50 billion and ZAR 1.65 billion.
- Group Adjusted EBITDA between ZAR 260 million and ZAR 300 million
For FY2026, the year ending June 30, 2026, we expect:
- Net Revenue between ZAR 6.4 billion and ZAR 6.9 billion
- Group Adjusted EBITDA between ZAR 1.25 billion and ZAR 1.45 billion
- Net Income Attributable to Lesaka to be positive.
- Adjusted earnings per share of at least ZAR 4.60, implying a year-on-year growth of greater than
100% .
Our FY2026 guidance excludes the impact of the Bank Zero acquisition announced (subject to regulatory approval by the Prudential Authority and the South African Reserve Bank and other customary closing conditions) and any unannounced mergers and acquisitions that we may conclude.
Management has provided its outlook regarding Net Revenue, Group Adjusted EBITDA and Adjusted earnings per share, which are non-GAAP financial measures and excludes certain revenue and charges. Management has not reconciled these non-GAAP financial measures to the corresponding GAAP financial measures because guidance for the various reconciling items is not provided. Management is unable to provide guidance for these reconciling items because they cannot determine their probable significance, as certain items are outside of the control of Lesaka and cannot be reasonably predicted since these items could vary significantly from period to period. Accordingly, reconciliations to the corresponding GAAP financial measure are not available without unreasonable effort.
Restatement of Interim Fiscal 2025 Financial Results
As disclosed in the听Current Report on Form 8-K filed by us today, the Audit Committee of our Board of Directors (the 鈥淎udit Committee鈥�), following consultation with our management and KPMG Inc, our independent registered public accounting firm, concluded that our unaudited condensed consolidated financial statements for the quarters then ended, respectively, included in our Quarterly Reports on Form 10-Q for the quarters ended September 30, 2024, December 31, 2024, and March 31, 2025, respectively (the 鈥淨uarterly Reports鈥�), should be restated, and that such unaudited condensed financial statements should no longer be relied upon, due to our re-evaluation of the classification of certain revenue that has been reported as an agent rather than as principal, and related cost of goods sold. We anticipate that the restatement will have no impact on its reported operating income (loss), net loss or loss per share or our net cash flows or liquidity. The restatement is expected to result in an increase in our revenue, with the increase in revenue expected to be offset by a corresponding increase in our cost of goods sold, IT processing, servicing and support. The financial information presented in this press release has been prepared on a basis consistent with our restated results.
We withdraw our previously provided FY2026 revenue guidance, which has been withdrawn in light of the restatement.
Important Note Regarding Preliminary, Unaudited Financial Results
The financial results in this press release are preliminary estimates. We are in the process of finalizing our financial statements for the fiscal year ended June 30, 2025, and our actual results remain subject to completion of those financial statements and their audit by our independent registered public accounting firm. These preliminary estimates are based on information available to management as of the date of this press release and certain related assumptions, which could prove incorrect. Our actual, reported results of operations could differ based on completion of our year end closing procedures, final adjustments and developments that may arise prior to completion of our annual financial statements, and adjustments arising from the audit by our independent registered public accounting firm. You should carefully review our audited, consolidated financial statements for the fiscal year ended June 30, 2025 when they become available.
Audited results will be included in our filing on Form 10-K for the year ended June 30, 2025.
Earnings Presentation for Q4 2025 Results
Our earnings presentation will be posted to the Investor Relations page of our website prior to our earnings call.
Webcast Registration
Link to access the results webcast:
Participants using the webcast will be able to submit questions during the live Question and Answer session.
Conference call dial-in via Chorus Call:
Link to register:
Call passcode: 6578199
Following the presentation, an archived version of the webcast will be provided on Lesaka鈥檚 Investor Relations website.
Use of Non-GAAP Measures
U.S. securities laws require that when we publish any non-GAAP measures, we disclose the reason for using these non-GAAP measures and provide reconciliations to the most directly comparable GAAP measures. The presentation of Group Adjusted EBITDA, Net Revenue, Adjusted earnings, Adjusted earnings per share, and headline (loss) earnings per share are non-GAAP measures. Refer to Attachment A for a reconciliation of these non-GAAP measures.
Non-GAAP Measures
Group adjusted EBITDA
Group Adjusted EBITDA is net loss before interest, taxes, depreciation and amortization, adjusted for non-operational transactions (including loss on disposal of equity-accounted investments), impairment loss, loss from equity-accounted investments, stock-based compensation charges and once-off items. Once-off items represent non-recurring expense items, including costs related to acquisitions and transactions consummated or ultimately not pursued.
Net Revenue
Net revenue is a non-GAAP financial measure. Revenue is the financial measure calculated in accordance with GAAP that is most directly comparable to net revenue. However, as a result of the restatement, we are unable to provide GAAP revenue on a historical basis and are therefore unable to provide a reconciliation of net revenue to GAAP revenue. The restatement is expected to result in an increase in GAAP revenue, with any increase in GAAP revenue expected to be offset by a corresponding increase in the cost of prepaid airtime vouchers (鈥淧inned Airtime鈥�) sold by us, resulting in no change to net revenue.
We generate revenue from the provision of transaction-processing services through our various platforms and service offerings. We use these platforms to (a) sell Pinned Airtime which was held as inventory, and (b) distribute pre-paid solutions including prepaid airtime vouchers (which we do not hold as inventory) (鈥淧inless Airtime鈥�), prepaid electricity, gaming vouchers, and other products, to users of our platforms. We act as a principal when we sell Pinned Airtime that were held as inventory and record revenue and cost of sales on a gross basis when sold. We act as an agent in a transaction when we provide pre-paid solutions through our various platforms and services offerings because we do not control the good or service to be provided and we recognize revenue based on the amount that we are contractually entitled to receive for performing the distribution service on behalf of our customers using our platform. Our revenue under GAAP can fluctuate materially due to changes in the revenue mix between these revenue categories. Net Revenue is a non-GAAP measure and is calculated as revenue presented under GAAP less (i) the cost of Pinned Airtime sold by us, and (ii) commissions paid to third parties selling all other agency-based pre-paid solutions (including Pinless Airtime, electricity and other products) provided through our distribution channels. We believe that the use of Net Revenue is meaningful to users of financial information because it seeks to eliminate the impact of the change in the revenue mix from the revenue categories over the periods presented.
Adjusted earnings and Adjusted earnings per share
Adjusted earnings and Adjusted earnings per share is GAAP net loss and loss per share adjusted for the amortization of acquisition-related intangible assets (net of deferred taxes), stock-based compensation charges, and unusual non-recurring items, including costs related to acquisitions and transactions consummated or ultimately not pursued.
Adjusted earnings and Adjusted earnings per share for fiscal 2025 also includes adjustments related to the changes in the fair value of equity securities (net of deferred tax), impairment loss related to goodwill and intangible assets, an adjustment for deferred tax adjustments to the valuation allowance for a subsidiary which released its valuation allowance related to net operating losses in full during Q4 2025, loss on disposal of equity-accounted investments and intangible asset amortization, net related to non-controlling interests.
Adjusted earnings and Adjusted earnings per share for fiscal 2024 also includes an impairment loss related to an equity-accounted investment, unrealized currency loss related to our non-core business which we are in the process of winding down and a reversal of allowance for a doubtful loan receivable.
Management believes that the Group Adjusted EBITDA, Adjusted earnings and Adjusted earnings per share metrics enhance its own evaluation, as well as an investor鈥檚 understanding of our financial performance. Attachment A presents the reconciliation between GAAP net loss attributable to Lesaka and these non-GAAP measures.
Headline (loss) earnings per share (鈥淗(L)EPS鈥�)
The inclusion of H(L)EPS in this press release is a requirement of our listing on the JSE. H(L)EPS basic and diluted is calculated using net (loss) income which has been determined based on GAAP. Accordingly, this may differ to the headline (loss) earnings per share calculation of other companies listed on the JSE as these companies may report their financial results under a different financial reporting framework, including but not limited to, International Financial Reporting Standards.
H(L)EPS basic and diluted is calculated as GAAP net (loss) income adjusted for the impairment losses related to our equity-accounted investments, impairment losses and (profit) loss on sale of property, plant and equipment. Attachment C presents the reconciliation between our net (loss) income used to calculate (loss) earnings per share basic and diluted and H(L)EPS basic and diluted and the calculation of the denominator for headline diluted (loss) earnings per share.
About Lesaka Technologies Inc. ()
Lesaka operates a South African听fintech company driven by a purpose to provide financial services, software and other business services to Southern Africa's underserviced consumers and merchants. We offer an integrated and holistic multiproduct platform that provides transactional accounts, lending, insurance, merchant acquiring, cash management, software and Alternative Digital Products ("ADP"). By providing a full-service fintech platform in our connected ecosystem, we facilitate the digitization of commerce in our markets.
Lesaka has a primary listing on NASDAQ (NASDAQ:) and a secondary listing on the Johannesburg Stock Exchange (JSE: LSK). Visit 听for additional information about Lesaka.
Forward-Looking Statements
This press release contains certain statements that may be considered forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such statements are subject to the safe harbor created by those sections and the Private Securities Litigation Reform Act of 1995, as amended. Such statements may be identified by their use of terms or phrases such as 鈥渆xpects,鈥� 鈥渆stimates,鈥� 鈥減rojects,鈥� 鈥渂elieves,鈥� 鈥渁nticipates,鈥� 鈥減lans,鈥� 鈥渃ould,鈥� 鈥渨ould,鈥� 鈥渕ay,鈥� 鈥渨ill,鈥� 鈥渋ntends,鈥� 鈥渙utlook,鈥� 鈥渇ocus,鈥� 鈥渟eek,鈥� 鈥減otential,鈥� 鈥渕ission,鈥� 鈥渃ontinue,鈥� 鈥済oal,鈥� 鈥渢arget,鈥� 鈥渙bjective,鈥� derivations thereof, and similar terms and phrases. In this press release, statements relating to future financial results and future financing and business opportunities are forward-looking statements. Forward-looking statements are based upon the current beliefs and expectations of our management and are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified, which could cause future events and actual results to differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. These risks include, without limitation, the risk that our unaudited preliminary results may differ from our actual results, the timely completion of the restatement and the restated filings, the risk that additional information may become known prior to the expected filing with the Securities and Exchange Commission (SEC) of the restated filings or that other subsequent events may occur that would require us to make additional adjustments to its financial statements , whether our re-evaluation of its accounting on an agency versus principal basis related to other agreements will result in the restatement of revenue and costs associated with these other agreements in the Quarterly Reports or for other fiscal periods, uncertainties around the effectiveness of our internal control over financial reporting and the effectiveness of our disclosure controls and procedures, potential legal or regulatory action related to the restatement, and the potential impact on our business and any market reaction to any announcements regarding any of the foregoing. Additional information concerning factors that could cause actual events or results to differ materially from those in any forward-looking statement is contained in our Form 10-K for the fiscal year ended June 30, 2024, as filed with the SEC, as well as other documents we have filed or will file with the SEC. We assume no obligation to update the information in this press release, to revise any forward-looking statements or to update the reasons actual results could differ materially from those anticipated in forward-looking statements.
Investor Relations and Media Relations Contacts:
Phillipe Welthagen
Email: [email protected]
Mobile: +27 84 512 5393
Idris Dungarwalla
Email: [email protected]
Mobile: +44 786 225 4852
Media Relations Contact:
Ian Harrison
Email: [email protected]
Lesaka Technologies, Inc.
The financial information presented in the following tables and reconciliations is preliminary and unaudited. Audited results will be included in our filing on Form 10-K for the year ended June 30, 2025.
Attachment A
Reconciliation of GAAP loss attributable to Lesaka to Group Adjusted EBITDA loss:
Three months and year ended June 30, 2025 and 2024, and three months ended March 31, 2024
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | Three months ended | 听 | Year ended | ||||||||||||||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | June 30, | 听 | Mar 31, | 听 | June 30, | ||||||||||||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 2025 | 听 | 2024 | 听 | 2025 | 听 | 2025 | 听 | 2024 | ||||||||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | (in thousands) | ||||||||||||||||||
| Net loss attributable to Lesaka | $ | (28,770 | ) | 听 | $ | (5,035 | ) | 听 | $ | (22,058 | ) | 听 | $ | (87,504 | ) | 听 | $ | (17,440 | ) | |||||||||
| (Less) Add net (loss) income attributable to non-controlling interest | 听 | (178 | ) | 听 | 听 | - | 听 | 听 | 听 | 20 | 听 | 听 | 听 | (130 | ) | 听 | 听 | - | 听 | |||||||||
| 听 | Loss attributable to Lesaka - GAAP | $ | (28,948 | ) | 听 | $ | (5,035 | ) | 听 | $ | (22,038 | ) | 听 | $ | (87,634 | ) | 听 | $ | (17,440 | ) | ||||||||
| 听 | (Earnings) Loss from equity accounted investments | 听 | (25 | ) | 听 | 听 | (40 | ) | 听 | 听 | (12 | ) | 听 | 听 | (114 | ) | 听 | 听 | 1,279 | 听 | ||||||||
| 听 | 听 | Net loss before (earnings) loss from equity-accounted investments | 听 | (28,973 | ) | 听 | 听 | (5,075 | ) | 听 | 听 | (22,050 | ) | 听 | 听 | (87,748 | ) | 听 | 听 | (16,161 | ) | |||||||
| 听 | 听 | Income tax (benefit) expense | 听 | (8,930 | ) | 听 | 听 | 1,482 | 听 | 听 | 听 | (2,934 | ) | 听 | 听 | (18,198 | ) | 听 | 听 | 3,363 | 听 | |||||||
| 听 | 听 | 听 | Loss before income tax expense | 听 | (37,903 | ) | 听 | 听 | (3,593 | ) | 听 | 听 | (24,984 | ) | 听 | 听 | (105,946 | ) | 听 | 听 | (12,798 | ) | ||||||
| 听 | 听 | 听 | Reversal of allowance for doubtful EMI loans receivable | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | (250 | ) | ||||||
| 听 | 听 | 听 | Net (gain) loss on disposal of equity-accounted investment | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 161 | 听 | 听 | 听 | - | 听 | ||||||
| 听 | 听 | 听 | Change in fair value of equity securities | 听 | 5,676 | 听 | 听 | 听 | - | 听 | 听 | 听 | 20,421 | 听 | 听 | 听 | 59,828 | 听 | 听 | 听 | - | 听 | ||||||
| 听 | 听 | 听 | Impairment loss | 听 | 18,863 | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 18,863 | 听 | 听 | 听 | - | 听 | ||||||
| 听 | 听 | 听 | Unrealized (gain) loss FV for currency adjustments | 听 | (79 | ) | 听 | 听 | (184 | ) | 听 | 听 | (114 | ) | 听 | 听 | 23 | 听 | 听 | 听 | (83 | ) | ||||||
| 听 | 听 | 听 | Operating loss after PPA amortization and net interest (non-GAAP) | 听 | (13,443 | ) | 听 | 听 | (3,777 | ) | 听 | 听 | (4,677 | ) | 听 | 听 | (27,071 | ) | 听 | 听 | (13,131 | ) | ||||||
| 听 | 听 | 听 | PPA amortization (amortization of acquired intangible assets) | 听 | 7,796 | 听 | 听 | 听 | 3,657 | 听 | 听 | 听 | 4,974 | 听 | 听 | 听 | 21,384 | 听 | 听 | 听 | 14,419 | 听 | ||||||
| 听 | 听 | 听 | 听 | Operating (loss) income before PPA amortization after net interest (non-GAAP) | 听 | (5,647 | ) | 听 | 听 | (120 | ) | 听 | 听 | 297 | 听 | 听 | 听 | (5,687 | ) | 听 | 听 | 1,288 | 听 | |||||
| 听 | 听 | 听 | 听 | Interest expense | 听 | 4,470 | 听 | 听 | 听 | 4,620 | 听 | 听 | 听 | 5,777 | 听 | 听 | 听 | 21,453 | 听 | 听 | 听 | 18,932 | 听 | |||||
| 听 | 听 | 听 | 听 | Interest income | 听 | (644 | ) | 听 | 听 | (732 | ) | 听 | 听 | (645 | ) | 听 | 听 | (2,596 | ) | 听 | 听 | (2,294 | ) | |||||
| 听 | 听 | 听 | 听 | 听 | Operating (loss) income before PPA amortization and net interest (non-GAAP) | 听 | (1,821 | ) | 听 | 听 | 3,768 | 听 | 听 | 听 | 5,429 | 听 | 听 | 听 | 13,170 | 听 | 听 | 听 | 17,926 | 听 | ||||
| 听 | 听 | 听 | 听 | 听 | Depreciation (excluding amortization of intangibles) | 听 | 2,997 | 听 | 听 | 听 | 2,548 | 听 | 听 | 听 | 3,455 | 听 | 听 | 听 | 12,337 | 听 | 听 | 听 | 9,246 | 听 | ||||
| 听 | 听 | 听 | 听 | 听 | Stock-based compensation charges | 听 | 2,032 | 听 | 听 | 听 | 2,258 | 听 | 听 | 听 | 2,497 | 听 | 听 | 听 | 9,550 | 听 | 听 | 听 | 7,911 | 听 | ||||
| 听 | 听 | 听 | 听 | 听 | Interest adjustment | 听 | 283 | 听 | 听 | 听 | - | 听 | 听 | 听 | (890 | ) | 听 | 听 | (2,195 | ) | 听 | 听 | - | 听 | ||||
| 听 | 听 | 听 | 听 | 听 | Once-off items (refer below) | 听 | 13,227 | 听 | 听 | 听 | 1,684 | 听 | 听 | 听 | 2,306 | 听 | 听 | 听 | 17,826 | 听 | 听 | 听 | 1,853 | 听 | ||||
| 听 | 听 | 听 | 听 | 听 | 听 | Group Adjusted EBITDA - Non-GAAP | $ | 16,718 | 听 | 听 | $ | 10,258 | 听 | 听 | $ | 12,797 | 听 | 听 | $ | 50,688 | 听 | 听 | $ | 36,936 | 听 | |||
| 听 | 听 | Three months ended | 听 | Year ended | |||||||||||||
| 听 | 听 | June 30, | 听 | Mar 31, | 听 | June 30, | |||||||||||
| 听 | 听 | 2025 | 听 | 2024 | 听 | 2025 | 听 | 2025 | 听 | 2024 | |||||||
| 听 | 听 | (in thousands) | |||||||||||||||
| Once-off items comprises: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | |||
| 听 | Transaction costs related to Adumo, Recharger and Bank Zero acquisitions and certain compensation costs | $ | 12,985 | 听 | $ | 1,660 | 听 | $ | 1,222 | 听 | $ | 16,159 | 听 | 听 | $ | 2,325 | 听 |
| 听 | Transaction costs | 听 | 173 | 听 | 听 | 24 | 听 | 听 | 1,084 | 听 | 听 | 1,794 | 听 | 听 | 听 | 480 | 听 |
| 听 | (Income recognized) Expenses incurred related to closure of legacy businesses | 听 | - | 听 | 听 | - | 听 | 听 | - | 听 | 听 | - | 听 | 听 | 听 | (952 | ) |
| 听 | Indirect taxes provision release (recorded) | 听 | 69 | 听 | 听 | - | 听 | 听 | - | 听 | 听 | (127 | ) | 听 | 听 | - | 听 |
| 听 | 听 | $ | 13,227 | 听 | $ | 1,684 | 听 | $ | 2,306 | 听 | $ | 17,826 | 听 | 听 | $ | 1,853 | 听 |
Once-off items are non-recurring in nature, however, certain items may be reported in multiple quarters. For instance, transaction costs include costs incurred related to acquisitions and transactions consummated or ultimately not pursued. The transactions can span multiple quarters, for instance in fiscal 2025 we incurred significant transaction costs related to the acquisitions of Adumo and Recharger over a number of quarters, and the transactions are generally non-recurring.
Indirect tax provision (release) recorded relates to the (reversal) recordal of a non-recurring indirect tax provision created in fiscal 2023 which was resolved in fiscal 2025 following settlement of the matter with the tax authority. Income recognized related to closure of legacy businesses represents (i) gains recognized related to the release of the foreign currency translation reserve on deconsolidation of a subsidiaries and (ii) costs incurred related to subsidiaries which we are in the process of deregistering/ liquidating and therefore we consider these costs non-operational and ad hoc in nature.
Reconciliation of GAAP net loss and loss per share, basic, to Adjusted earnings and earnings per share, basic:
Three months ended June 30, 2025 and 2024
| 听 | Net (loss) income (USD '000) | 听 | (L) EPS, basic (USD) | 听 | Net (loss) income (ZAR '000) | 听 | (L)EPS, basic (ZAR) | ||||||||||||||||
| 听 | 2025 | 听 | 2024 | 听 | 2025 | 听 | 2024 | 听 | 2025 | 听 | 2024 | 听 | 2025 | 听 | 2024 | ||||||||
| GAAP | (28,770 | ) | 听 | (5,035 | ) | 听 | (0.35 | ) | 听 | (0.08 | ) | 听 | (514,693 | ) | 听 | (93,201 | ) | 听 | (6.33 | ) | 听 | (1.44 | ) |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Impairment loss | 18,371 | 听 | 听 | - | 听 | 听 | 听 | 听 | 听 | 听 | 326,195 | 听 | 听 | - | 听 | 听 | 听 | 听 | 听 | ||||
| Transaction costs | 13,158 | 听 | 听 | 1,684 | 听 | 听 | 听 | 听 | 听 | 听 | 237,741 | 听 | 听 | 31,047 | 听 | 听 | 听 | 听 | 听 | ||||
| Deferred tax asset valuation allowance released | (11,741 | ) | 听 | (342 | ) | 听 | 听 | 听 | 听 | 听 | (209,894 | ) | 听 | (6,362 | ) | 听 | 听 | 听 | 听 | ||||
| Change in fair value of equity securities, net | 5,676 | 听 | 听 | - | 听 | 听 | 听 | 听 | 听 | 听 | 101,377 | 听 | 听 | - | 听 | 听 | 听 | 听 | 听 | ||||
| Intangible asset amortization, net | 5,691 | 听 | 听 | 2,670 | 听 | 听 | 听 | 听 | 听 | 听 | 103,359 | 听 | 听 | 49,563 | 听 | 听 | 听 | 听 | 听 | ||||
| Stock-based compensation charge | 2,032 | 听 | 听 | 2,258 | 听 | 听 | 听 | 听 | 听 | 听 | 37,157 | 听 | 听 | 39,482 | 听 | 听 | 听 | 听 | 听 | ||||
| Intangible asset amortization, net related to non-controlling interest | (117 | ) | 听 | - | 听 | 听 | 听 | 听 | 听 | 听 | (2,091 | ) | 听 | - | 听 | 听 | 听 | 听 | 听 | ||||
| Other | 69 | 听 | 听 | - | 听 | 听 | 听 | 听 | 听 | 听 | 1,233 | 听 | 听 | - | 听 | 听 | 听 | 听 | 听 | ||||
| Adjusted | 4,369 | 听 | 听 | 1,235 | 听 | 听 | 0.05 | 听 | 听 | 0.02 | 听 | 听 | 80,384 | 听 | 听 | 20,529 | 听 | 听 | 0.99 | 听 | 听 | 0.32 | 听 |
Year ended June 30, 2025 and 2024
| 听 | Net (loss) income (USD '000) | 听 | (L) EPS, basic (USD) | 听 | Net (loss) income (ZAR '000) | 听 | (L)EPS, basic (ZAR) | ||||||||||||||||
| 听 | 2025 | 听 | 2024 | 听 | 2025 | 听 | 2024 | 听 | 2025 | 听 | 2024 | 听 | 2025 | 听 | 2024 | ||||||||
| GAAP | (87,504 | ) | 听 | (17,440 | ) | 听 | (1.14 | ) | 听 | (0.28 | ) | 听 | (1,583,747 | ) | 听 | (326,070 | ) | 听 | (19.49 | ) | 听 | (5.07 | ) |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||||
| Change in fair value of equity securities, net | 49,294 | 听 | 听 | - | 听 | 听 | 听 | 听 | 听 | 听 | 897,634 | 听 | 听 | - | 听 | 听 | 听 | 听 | 听 | ||||
| Impairment loss | 18,371 | 听 | 听 | - | 听 | 听 | 听 | 听 | 听 | 听 | 326,195 | 听 | 听 | - | 听 | 听 | 听 | 听 | 听 | ||||
| Transaction costs | 17,953 | 听 | 听 | 2,805 | 听 | 听 | 听 | 听 | 听 | 听 | 324,175 | 听 | 听 | 52,186 | 听 | 听 | 听 | 听 | 听 | ||||
| Intangible asset amortization, net | 15,610 | 听 | 听 | 10,543 | 听 | 听 | 听 | 听 | 听 | 听 | 279,522 | 听 | 听 | 196,875 | 听 | 听 | 听 | 听 | 听 | ||||
| Stock-based compensation charge | 9,550 | 听 | 听 | 7,911 | 听 | 听 | 听 | 听 | 听 | 听 | 173,470 | 听 | 听 | 145,571 | 听 | 听 | 听 | 听 | 听 | ||||
| Deferred tax asset valuation allowance released | (12,665 | ) | 听 | (906 | ) | 听 | 听 | 听 | 听 | 听 | (226,576 | ) | 听 | (17,000 | ) | 听 | 听 | 听 | 听 | ||||
| Intangible asset amortization, net related to non-controlling interest | (282 | ) | 听 | - | 听 | 听 | 听 | 听 | 听 | 听 | (5,097 | ) | 听 | - | 听 | 听 | 听 | 听 | 听 | ||||
| Net loss on disposal of equity-accounted investments | 161 | 听 | 听 | - | 听 | 听 | 听 | 听 | 听 | 听 | 2,886 | 听 | 听 | - | 听 | 听 | 听 | 听 | 听 | ||||
| Other | (127 | ) | 听 | - | 听 | 听 | 听 | 听 | 听 | 听 | (2,275 | ) | 听 | - | 听 | 听 | 听 | 听 | 听 | ||||
| Impairment of equity method investments | - | 听 | 听 | 1,167 | 听 | 听 | 听 | 听 | 听 | 听 | - | 听 | 听 | 22,084 | 听 | 听 | 听 | 听 | 听 | ||||
| Non core international - unrealized currency (gain) loss | - | 听 | 听 | (952 | ) | 听 | 听 | 听 | 听 | 听 | - | 听 | 听 | (17,648 | ) | 听 | 听 | 听 | 听 | ||||
| Allowance for doubtful EMI loans receivable | - | 听 | 听 | (250 | ) | 听 | 听 | 听 | 听 | 听 | - | 听 | 听 | (4,741 | ) | 听 | 听 | 听 | 听 | ||||
| Adjusted | 10,361 | 听 | 听 | 2,878 | 听 | 听 | 0.13 | 听 | 听 | 0.04 | 听 | 听 | 186,187 | 听 | 听 | 51,257 | 听 | 听 | 2.29 | 听 | 听 | 0.80 | 听 |
Attachment B
Unaudited Condensed Consolidated Financial Statements
| LESAKA TECHNOLOGIES, INC. | |||||||||||||||
| Unaudited Condensed Consolidated Statements of Operations | |||||||||||||||
| 听 | Unaudited | 听 | Unaudited | ||||||||||||
| 听 | Three months ended | 听 | Year ended | ||||||||||||
| 听 | June 30, | 听 | June 30, | ||||||||||||
| 听 | 2025 | 听 | 2024 | 听 | 2025 | 听 | 2024 | ||||||||
| 听 | (In thousands, except per share data) | ||||||||||||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Operating (loss) income | $ | (28,401 | ) | 听 | $ | 295 | 听 | 听 | $ | (27,100 | ) | 听 | $ | 3,590 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Change in fair value of equity securities | 听 | (5,676 | ) | 听 | 听 | - | 听 | 听 | 听 | (59,828 | ) | 听 | 听 | - | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Reversal of allowance for doubtful EMI loan receivable | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 250 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Loss on disposal of equity-accounted investment | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 161 | 听 | 听 | 听 | - | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Interest income | 听 | 644 | 听 | 听 | 听 | 732 | 听 | 听 | 听 | 2,596 | 听 | 听 | 听 | 2,294 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Interest expense | 听 | 4,470 | 听 | 听 | 听 | 4,620 | 听 | 听 | 听 | 21,453 | 听 | 听 | 听 | 18,932 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Loss before income tax (benefit) expense | 听 | (37,903 | ) | 听 | 听 | (3,593 | ) | 听 | 听 | (105,946 | ) | 听 | 听 | (12,798 | ) |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Income tax (benefit) expense | 听 | (8,930 | ) | 听 | 听 | 1,482 | 听 | 听 | 听 | (18,198 | ) | 听 | 听 | 3,363 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Net loss before earnings (loss) from equity-accounted investments | 听 | (28,973 | ) | 听 | 听 | (5,075 | ) | 听 | 听 | (87,748 | ) | 听 | 听 | (16,161 | ) |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Earnings (loss) from equity-accounted investments | 听 | 25 | 听 | 听 | 听 | 40 | 听 | 听 | 听 | 114 | 听 | 听 | 听 | (1,279 | ) |
| Net loss from continuing operations | 听 | (28,948 | ) | 听 | 听 | (5,035 | ) | 听 | 听 | (87,634 | ) | 听 | 听 | (17,440 | ) |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Add net loss attributable to non-controlling interest | 听 | (178 | ) | 听 | 听 | - | 听 | 听 | 听 | (130 | ) | 听 | 听 | - | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Net loss attributable to Lesaka | $ | (28,770 | ) | 听 | $ | (5,035 | ) | 听 | $ | (87,504 | ) | 听 | $ | (17,440 | ) |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Net loss per share, in United States dollars: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Basic loss attributable to Lesaka shareholders | $ | (0.35 | ) | 听 | $ | (0.08 | ) | 听 | $ | (1.14 | ) | 听 | $ | (0.27 | ) |
| Diluted loss attributable to Lesaka shareholders | $ | (0.35 | ) | 听 | $ | (0.08 | ) | 听 | $ | (1.14 | ) | 听 | $ | (0.27 | ) |
| LESAKA TECHNOLOGIES, INC. | |||||||||||||||||
| Unaudited Condensed Consolidated Statements of Cash Flows | |||||||||||||||||
| 听 | 听 | 听 | Unaudited | 听 | Unaudited | ||||||||||||
| 听 | 听 | 听 | Three months ended | 听 | Year ended | ||||||||||||
| 听 | 听 | 听 | June 30, | 听 | June 30, | ||||||||||||
| 听 | 听 | 听 | 2025 | 听 | 2024 | 听 | 2025 | 听 | 2024 | ||||||||
| 听 | 听 | 听 | (In thousands) | ||||||||||||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Cash flows from operating activities | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||
| 听 | Net loss | $ | (28,948 | ) | 听 | $ | (5,035 | ) | 听 | $ | (87,634 | ) | 听 | $ | (17,440 | ) | |
| 听 | Depreciation and amortization | 听 | 10,793 | 听 | 听 | 听 | 6,205 | 听 | 听 | 听 | 33,721 | 听 | 听 | 听 | 23,665 | 听 | |
| 听 | Impairment loss | 听 | 18,864 | 听 | 听 | 听 | - | 听 | 听 | 听 | 18,864 | 听 | 听 | 听 | - | 听 | |
| 听 | Movement in allowance for doubtful accounts receivable and finance loans receivable | 听 | 2,312 | 听 | 听 | 听 | 1,626 | 听 | 听 | 听 | 8,011 | 听 | 听 | 听 | 5,158 | 听 | |
| 听 | Movement in interest payable | 听 | (1,720 | ) | 听 | 听 | (126 | ) | 听 | 听 | 4,723 | 听 | 听 | 听 | 1,119 | 听 | |
| 听 | Fair value adjustment related to financial liabilities | 听 | 39 | 听 | 听 | 听 | 66 | 听 | 听 | 听 | (120 | ) | 听 | 听 | (853 | ) | |
| 听 | Gain on disposal of equity-accounted investments | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 161 | 听 | 听 | 听 | - | 听 | |
| 听 | (Earnings) Loss from equity-accounted investments | 听 | (25 | ) | 听 | 听 | (40 | ) | 听 | 听 | (114 | ) | 听 | 听 | 1,279 | 听 | |
| 听 | Reversal of allowance for doubtful loans receivable | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | (250 | ) | |
| 听 | Change in fair value of equity securities | 听 | 5,676 | 听 | 听 | 听 | - | 听 | 听 | 听 | 59,828 | 听 | 听 | 听 | - | 听 | |
| 听 | Loss (Profit) on disposal of property, plant and equipment | 听 | 66 | 听 | 听 | 听 | (17 | ) | 听 | 听 | 13 | 听 | 听 | 听 | (305 | ) | |
| 听 | Facility fee amortized | 听 | 209 | 听 | 听 | 听 | 62 | 听 | 听 | 听 | 429 | 听 | 听 | 听 | 443 | 听 | |
| 听 | Stock-based compensation charge | 听 | 2,032 | 听 | 听 | 听 | 2,258 | 听 | 听 | 听 | 9,550 | 听 | 听 | 听 | 7,911 | 听 | |
| 听 | Dividends received from equity accounted investments | 听 | 31 | 听 | 听 | 听 | - | 听 | 听 | 听 | 96 | 听 | 听 | 听 | 95 | 听 | |
| 听 | Increase in finance loans receivable | 听 | (12,880 | ) | 听 | 听 | (2,932 | ) | 听 | 听 | (34,614 | ) | 听 | 听 | (10,029 | ) | |
| 听 | Net (decrease) increase in accounts receivable and other receivables, inventory, accounts payable and other payables | 听 | (4,097 | ) | 听 | 听 | 4,851 | 听 | 听 | 听 | (12,151 | ) | 听 | 听 | 21,108 | 听 | |
| 听 | Deferred consideration due to seller of Recharger included in accounts payable and other payables | 听 | 12,456 | 听 | 听 | 听 | - | 听 | 听 | 听 | 13,586 | 听 | 听 | 听 | - | 听 | |
| 听 | (Decrease) Increase in taxes payable | 听 | (1,139 | ) | 听 | 听 | (958 | ) | 听 | 听 | 485 | 听 | 听 | 听 | (400 | ) | |
| 听 | Decrease in deferred taxes | 听 | (10,151 | ) | 听 | 听 | (308 | ) | 听 | 听 | (23,955 | ) | 听 | 听 | (2,712 | ) | |
| 听 | 听 | Net cash (used in) provided by in operating activities | 听 | (6,482 | ) | 听 | 听 | 5,652 | 听 | 听 | 听 | (9,121 | ) | 听 | 听 | 28,789 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Cash flows from investing activities | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||
| 听 | Net capital expenditures, net of proceeds received on disposal | 听 | (3,881 | ) | 听 | 听 | (4,265 | ) | 听 | 听 | (15,261 | ) | 听 | 听 | (11,100 | ) | |
| 听 | Expenditures related to intangible assets | 听 | (1,626 | ) | 听 | 听 | (58 | ) | 听 | 听 | (3,900 | ) | 听 | 听 | (294 | ) | |
| 听 | Proceeds from disposal of equity securities and equity-accounted investments | 听 | 16,441 | 听 | 听 | - | - | 听 | 听 | 听 | 16,441 | 听 | 听 | 听 | 3,508 | 听 | |
| 听 | Acquisitions, net of cash acquired | 听 | 8 | 听 | 听 | 听 | (1,583 | ) | 听 | 听 | (12,946 | ) | 听 | 听 | (1,583 | ) | |
| 听 | Repayment of loans by equity-accounted investments | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | 250 | 听 | |
| 听 | Net change in settlement assets | 听 | (1,065 | ) | 听 | 听 | 7,172 | 听 | 听 | 听 | 4,324 | 听 | 听 | 听 | (7,196 | ) | |
| 听 | 听 | Net cash provided by (used in) investing activities | 听 | 9,877 | 听 | 听 | 听 | 1,266 | 听 | 听 | 听 | (11,342 | ) | 听 | 听 | (16,415 | ) |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Cash flows from financing activities | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||||
| 听 | Utilization of bank overdraft | 听 | 4,428 | 听 | 听 | 听 | 29,511 | 听 | 听 | 听 | 98,616 | 听 | 听 | 听 | 182,990 | 听 | |
| 听 | Repayment of bank overdraft | 听 | (4,311 | ) | 听 | 听 | (27,421 | ) | 听 | 听 | (90,309 | ) | 听 | 听 | (199,642 | ) | |
| 听 | Long-term borrowings utilized | 听 | 565 | 听 | 听 | 听 | 9,302 | 听 | 听 | 听 | 190,061 | 听 | 听 | 听 | 23,728 | 听 | |
| 听 | Repayment of long-term borrowings | 听 | (1,214 | ) | 听 | 听 | (7,022 | ) | 听 | 听 | (149,511 | ) | 听 | 听 | (20,073 | ) | |
| 听 | Acquisition of treasury stock | 听 | (1,047 | ) | 听 | 听 | (1,288 | ) | 听 | 听 | (13,660 | ) | 听 | 听 | (1,495 | ) | |
| 听 | Other financing activities | 听 | 6 | 听 | 听 | 听 | 94 | 听 | 听 | 听 | (1,286 | ) | 听 | 听 | 165 | 听 | |
| 听 | Net change in settlement obligations | 听 | 1,412 | 听 | 听 | 听 | (6,148 | ) | 听 | 听 | (4,179 | ) | 听 | 听 | 7,214 | 听 | |
| 听 | 听 | Net cash (used in) provided by financing activities | 听 | (161 | ) | 听 | 听 | (2,972 | ) | 听 | 听 | 29,732 | 听 | 听 | 听 | (7,113 | ) |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Effect of exchange rate changes on cash | 听 | 2,282 | 听 | 听 | 听 | 2,366 | 听 | 听 | 听 | 1,452 | 听 | 听 | 听 | 2,025 | 听 | ||
| Net increase in cash, cash equivalents and restricted cash | 听 | 5,516 | 听 | 听 | 听 | 6,312 | 听 | 听 | 听 | 10,721 | 听 | 听 | 听 | 7,286 | 听 | ||
| Cash, cash equivalents and restricted cash 鈥� beginning of period | 听 | 71,123 | 听 | 听 | 听 | 59,606 | 听 | 听 | 听 | 65,918 | 听 | 听 | 听 | 58,632 | 听 | ||
| Cash, cash equivalents and restricted cash 鈥� end of period | $ | 76,639 | 听 | 听 | $ | 65,918 | 听 | 听 | $ | 76,639 | 听 | 听 | $ | 65,918 | 听 | ||
| LESAKA TECHNOLOGIES, INC. | ||||||||||
| Unaudited Condensed Consolidated Balance Sheets | ||||||||||
| 听 | 听 | 听 | 听 | 听 | 听 | Unaudited | 听 | (A)(B) | ||
| 听 | 听 | 听 | 听 | 听 | 听 | June 30, | 听 | June 30, | ||
| 听 | 听 | 听 | 听 | 听 | 听 | 2025 | 听 | 2024 | ||
| 听 | 听 | 听 | 听 | 听 | 听 | (In thousands, except share data) | ||||
| 听 | 听 | 听 | 听 | 听 | ASSETS | 听 | 听 | 听 | 听 | 听 |
| CURRENT ASSETS | 听 | 听 | 听 | 听 | 听 | |||||
| 听 | Cash and cash equivalents | $ | 76,520 | 听 | $ | 59,065 | ||||
| 听 | Restricted cash | 听 | 119 | 听 | 听 | 6,853 | ||||
| 听 | Finance loans receivable, net of allowance of - 2025: | 听 | 74,110 | 听 | 听 | 44,058 | ||||
| 听 | Other current assets, including accounts receivable, net and inventory | 听 | 66,076 | 听 | 听 | 54,893 | ||||
| 听 | 听 | Total current assets before settlement assets | 听 | 216,825 | 听 | 听 | 164,869 | |||
| 听 | 听 | 听 | Settlement assets | 听 | 27,098 | 听 | 听 | 22,827 | ||
| 听 | 听 | 听 | 听 | Total current assets | 听 | 243,923 | 听 | 听 | 187,696 | |
| PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation of - 2025: | 听 | 44,924 | 听 | 听 | 31,936 | |||||
| GOODWILL | 听 | 199,395 | 听 | 听 | 138,551 | |||||
| INTANGIBLE ASSETS, net of accumulated amortization of - 2025: | 听 | 139,215 | 听 | 听 | 111,353 | |||||
| OTHER LONG-TERM ASSETS, including operating lease right-of-use, deferred tax and other assets | 听 | 30,231 | 听 | 听 | 88,914 | |||||
| TOTAL ASSETS | 听 | 657,688 | 听 | 听 | 558,450 | |||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| 听 | 听 | 听 | 听 | 听 | LIABILITIES | 听 | 听 | 听 | 听 | 听 |
| CURRENT LIABILITIES | 听 | 听 | 听 | 听 | 听 | |||||
| 听 | Short-term credit facilities for ATM funding | 听 | - | 听 | 听 | 6,737 | ||||
| 听 | Short-term credit facilities | 听 | 24,469 | 听 | 听 | 9,351 | ||||
| 听 | Current portion of long-term borrowings | 听 | 11,956 | 听 | 听 | 15,719 | ||||
| 听 | Other current liabilities, including accounts payable, other payables and operating lease liability | 听 | 97,353 | 听 | 听 | 75,722 | ||||
| 听 | 听 | Total current liabilities before settlement obligations | 听 | 133,778 | 听 | 听 | 107,529 | |||
| 听 | 听 | 听 | Settlement obligations | 听 | 26,695 | 听 | 听 | 22,358 | ||
| 听 | 听 | 听 | 听 | Total current liabilities | 听 | 160,473 | 听 | 听 | 129,887 | |
| LONG-TERM BORROWINGS | 听 | 188,813 | 听 | 听 | 127,467 | |||||
| OTHER LONG-TERM LIABILITIES, including deferred tax, operating lease liability and other | 听 | 47,019 | 听 | 听 | 45,810 | |||||
| TOTAL LIABILITIES | 听 | 396,305 | 听 | 听 | 303,164 | |||||
| REDEEMABLE COMMON STOCK | 听 | 88,957 | 听 | 听 | 79,429 | |||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| 听 | 听 | 听 | 听 | 听 | EQUITY | 听 | 听 | 听 | 听 | 听 |
| TOTAL LESAKA EQUITY | 听 | 165,585 | 听 | 听 | 175,857 | |||||
| NON-CONTROLLING INTEREST | 听 | 6,841 | 听 | 听 | - | |||||
| TOTAL EQUITY | 听 | 172,426 | 听 | 听 | 175,857 | |||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| TOTAL LIABILITIES, REDEEMABLE COMMON STOCK AND SHAREHOLDERS鈥� EQUITY | $ | 657,688 | 听 | $ | 558,450 | |||||
(A) Derived from audited consolidated financial statements.
(B) We have reclassified an amount of
Lesaka Technologies, Inc.
Attachment C
Reconciliation of net loss used to calculate loss per share basic and diluted and headline loss per share basic and diluted:
Three months ended June 30, 2025 and 2024
| 听 | 听 | 2025 | 听 | 2024 | ||
| 听 | 听 | 听 | 听 | 听 | ||
| Net loss (USD鈥�000) | (22,058 | ) | 听 | (5,035 | ) | |
| Adjustments: | 听 | 听 | 听 | |||
| 听 | Impairment loss | 18,864 | 听 | 听 | - | 听 |
| 听 | Profit on sale of property, plant and equipment | (12 | ) | 听 | (17 | ) |
| 听 | Tax effects on above | 3 | 听 | 听 | 5 | 听 |
| 听 | 听 | 听 | 听 | 听 | ||
| Net loss used to calculate headline loss (USD鈥�000) | (3,203 | ) | 听 | (5,047 | ) | |
| 听 | 听 | 听 | 听 | 听 | ||
| Weighted average number of shares used to calculate net loss per share basic loss and headline loss per share basic loss (鈥�000) | 81,186 | 听 | 听 | 64,527 | 听 | |
| 听 | 听 | 听 | 听 | 听 | ||
| Weighted average number of shares used to calculate net loss per share diluted loss and headline loss per share diluted loss (鈥�000) | 81,186 | 听 | 听 | 64,527 | 听 | |
| 听 | 听 | 听 | 听 | 听 | ||
| Headline loss per share: | 听 | 听 | 听 | |||
| 听 | Basic, in USD | (0.04 | ) | 听 | (0.08 | ) |
| 听 | Diluted, in USD | (0.04 | ) | 听 | (0.08 | ) |
Year ended June 30, 2025 and 2024
| 听 | 听 | 2025 | 听 | 2024 | ||
| 听 | 听 | 听 | 听 | 听 | ||
| Net loss (USD鈥�000) | (87,504 | ) | 听 | (17,440 | ) | |
| Adjustments: | 听 | 听 | 听 | |||
| 听 | Impairment of equity method investments | - | 听 | 听 | 1,167 | 听 |
| 听 | Impairment loss | 18,864 | 听 | 听 | - | 听 |
| 听 | Profit on sale of property, plant and equipment | 13 | 听 | 听 | (305 | ) |
| 听 | Tax effects on above | (4 | ) | 听 | 82 | 听 |
| 听 | 听 | 听 | 听 | 听 | ||
| Net loss used to calculate headline loss (USD鈥�000) | (68,631 | ) | 听 | (16,496 | ) | |
| 听 | 听 | 听 | 听 | 听 | ||
| Weighted average number of shares used to calculate net loss per share basic loss and headline loss per share basic loss (鈥�000) | 76,466 | 听 | 听 | 64,179 | 听 | |
| 听 | 听 | 听 | 听 | 听 | ||
| Weighted average number of shares used to calculate net loss per share diluted loss and headline loss per share diluted loss (鈥�000) | 76,466 | 听 | 听 | 64,179 | 听 | |
| 听 | 听 | 听 | 听 | 听 | ||
| Headline loss per share: | 听 | 听 | 听 | |||
| 听 | Basic, in USD | (0.90 | ) | 听 | (0.26 | ) |
| 听 | Diluted, in USD | (0.90 | ) | 听 | (0.26 | ) |
Calculation of the denominator for headline diluted loss per share
| 听 | 听 | Three months ended June 30, | 听 | Year ended June 30, | ||||
| 听 | 听 | 2025 | 听 | 2024 | 听 | 2025 | 听 | 2024 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Basic weighted-average common shares outstanding and unvested restricted shares expected to vest under GAAP | 81,186 | 听 | 64,527 | 听 | 76,466 | 听 | 64,179 | |
| 听 | Denominator for headline diluted loss per share | 81,186 | 听 | 64,527 | 听 | 76,466 | 听 | 64,179 |
Weighted average number of shares used to calculate headline diluted loss per share represents the denominator for basic weighted-average common shares outstanding and unvested restricted shares expected to vest plus the effect of dilutive securities under GAAP. We use this number of fully diluted shares outstanding to calculate headline diluted loss per share because we do not use the two-class method to calculate headline diluted loss per share.
FAQ
What were Lesaka's (LSAK) key financial results for FY2025?
Why did Lesaka (LSAK) report a net loss in FY2025?
What is Lesaka's (LSAK) earnings guidance for FY2026?
Why is Lesaka (LSAK) restating its FY2025 interim results?
What was Lesaka's (LSAK) Q4 2025 performance?
