LESAKA TECHNOLOGIES INC

Listed Company

LSAKCIK 0001041514NasdaqAcceleratedFunctions Related To Depository Banking, NecFloridaFY ends Jun 30

Period

FY 2025

Revenue

$659.70M

Net Income

$-87.50M

Total Assets

$653.71M

Equity

$165.59M

Shares Out

83.92M

Op. Cash Flow

$-9.12M

Business

LESAKA TECHNOLOGIES INC enables underserviced consumers, merchants and enterprises in southern Africa to manage daily financial activities through an integrated fintech ecosystem. It offers banking, credit, insurance, payouts, merchant acquiring, point-of-sale software and hardware, cash management, prepaid and bill-payment solutions, and enterprise payment platforms. The company operates through three segments — Consumer, Merchant and Enterprise — each supported by proprietary platforms and a payments switch. It distributes services via on-the-ground sales teams and retail hubs, a biller network, merchant locations, ATMs and digital apps.

Summary from filing dated 2025-09-29

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
REVENUE (Note 16)	660	564	528	223	131
Cost of goods sold, IT processing, servicing and support, exclusive of depreciation and amortization shown separately below	487	443	418	168	96
Selling, general and administration, exclusive of depreciation and amortization shown separately below	132	92	95	75	84
Depreciation and amortization	34	24	24	8	4
Transaction costs related to Adumo, Recharger and Bank Zero acquisitions and certain compensation costs (Note 3)	16	2	0	—	—
Impairment loss (Note 10)	19	0	7	0	0
OPERATING (LOSS) INCOME	−27	4	−15	−40	−54
CHANGE IN FAIR VALUE OF EQUITY SECURITIES (Note 6 and 9)	−60	0	0	0	49
LOSS ON DISPOSAL OF EQUITY-ACCOUNTED INVESTMENT (Note 9)	161,000	0	205,000	376,000	13,000
REVERSAL OF ALLOWANCE FOR DOUBTFUL EMI DEBT RECEIVABLE (Note 9)	0	250,000	0	0	—
INTEREST INCOME	3	2	2	2	2
INTEREST EXPENSE	21	19	19	6	3
LOSS BEFORE INCOME TAX (BENEFIT)	−106	−13	−32	−40	−6
INCOME TAX (BENEFIT) EXPENSE (Note 18)	−18	3	−2	327,000	8
LOSS BEFORE EARNINGS (LOSS) FROM EQUITY-ACCOUNTED INVESTMENTS	−88	−16	−30	−40	−13
EARNINGS (LOSS) FROM EQUITY-ACCOUNTED INVESTMENTS (Note 9)	114,000	−1	−5	−4	−25
NET LOSS FROM CONTINUING OPERATIONS	−88	−17	−35	−44	−38
ADD NET LOSS ATTRIBUTABLE TO NON-CONTROLLING INTEREST	130,000	0	0	—	0
NET LOSS ATTRIBUTABLE TO LESAKA	−88	−17	−35	−44	−38
Basic loss attributable to Lesaka shareholders	−1.14	−0.27	−0.56	−0.75	−0.67
Diluted loss attributable to Lesaka shareholders	−1.14	−0.27	−0.56	−0.75	−0.67

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Cash and cash equivalents	77	59	35	44	199
Restricted cash related to ATM funding and short-term credit facilities (Note 12)	119,000	7	23	61	25
Accounts receivable, net and other receivables (Note 4)	43	37	26	29	27
Finance loans receivable, net (Note 4)	74	44	37	34	21
Inventory (Note 5)	24	18	27	34	22
Total current assets before settlement assets	217	165	148	202	294
Settlement assets	27	23	15	16	466,000
Total current assets	244	188	164	218	294
PROPERTY, PLANT AND EQUIPMENT, NET (Note 7)	45	32	27	25	7
OPERATING LEASE RIGHT-OF-USE (Note 8)	10	7	5	7	5
EQUITY-ACCOUNTED INVESTMENTS (Note 9)	199,000	206,000	3	6	10
GOODWILL (Note 10)	199	139	134	163	29
INTANGIBLE ASSETS, NET (Note 10)	139	111	122	157	357,000
DEFERRED TAX ASSETS, NET	13	3	10	4	622,000
OTHER LONG-TERM ASSETS, including equity securities (Note 9 and 11)	4	78	78	78	82
TOTAL ASSETS	654	558	542	657	428
Short-term credit facilities for ATM funding (Note 12)	0	7	23	51	14
Short-term credit facilities (Note 12)	24	9	9	15	0
Accounts payable	20	17	12	19	7
Other payables (Note 13)	72	56	36	34	28
Operating lease liability - current (Note 8)	4	2	2	2	3
Current portion of long-term borrowings (Note 12)	12	16	4	142	0
Income taxes payable	1	654,000	1	2	256,000
Total current liabilities before settlement obligations	134	108	87	131	52
Settlement obligations	27	22	15	15	466,000
Total current liabilities	160	130	102	146	52
DEFERRED TAX LIABILITIES, NET	34	38	47	54	10
OPERATING LEASE LIABILITY - LONG TERM (Note 8)	6	5	3	5	2
LONG-TERM BORROWINGS (Note 12)	189	127	129	135	0
OTHER LONG-TERM LIABILITIES, including insurance policy liabilities (Note 11)	3	3	2	2	3
TOTAL LIABILITIES	392	303	283	342	67
REDEEMABLE COMMON STOCK (Note 14)	89	79	79	79	85
COMMON STOCK (Note 14) Authorized: 200,000,000 with $0.001 par value; Issued and outstanding shares, net of treasury - 2025: 81,249,097; 2024: 64,272,243	103,000	83,000	83,000	83,000	80,000
PREFERRED STOCK Authorized shares: 50,000,000 with $0.001 par value; Issued and outstanding shares, net of treasury: 2025: - ; 2024: -	—	—	—	—	—
ADDITIONAL PAID-IN-CAPITAL	427	344	336	328	302
TREASURY SHARES, AT COST: 2025: 29,934,044; 2024: 25,563,808	−299	−290	−288	−287	−287
ACCUMULATED OTHER COMPREHENSIVE LOSS (Note 15)	−186	−188	−196	−169	−146
RETAINED EARNINGS	223	310	328	363	407
TOTAL LESAKA EQUITY	166	176	179	235	276
NON-CONTROLLING INTEREST	7	0	0	0	0
TOTAL EQUITY	172	176	179	235	276
TOTAL LIABILITIES, REDEEMABLE COMMON STOCK AND SHAREHOLDERS' EQUITY	654	558	542	657	428

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Depreciation and amortization	34	24	24	8	4
Impairment loss (Note 10)	19	0	7	0	0
Movement in allowance for credit losses	8	5	6	2	—
Fair value adjustment related to financial liabilities	−120,000	−853,000	−20,000	−466,000	840,000
Loss (Profit) on disposal of property, plant and equipment	13,000	−305,000	−468,000	−3	480,000
Stock-based compensation charge (Note 17)	10	8	7	3	344,000
(Earnings) Loss from equity-accounted investments (Note 9)	−114,000	1	5	4	25
Movement in allowance for doubtful loans to equity-accounted investments	0	−250,000	0	38,000	5
Dividends received from equity-accounted investments	96,000	95,000	42,000	155,000	194,000
Interest payable	5	1	5	9,000	−1,000
Facility fee amortized (Note 12)	429,000	443,000	864,000	251,000	0
Decrease (Increase) in accounts receivable (Note 20)	1	−11	−2	11	7
Increase in finance loans receivable (Note 20)	−35	−10	−12	−2	−3
Decrease in inventory	169,000	10	2	−5	1
(Decrease) Increase in accounts payable and other payables	−13	22	2	−9	−335,000
Deferred consideration due to seller of Recharger included in accounts payable and other payables (Note 3 and Note 13)	14	0	0	—	—
Increase (Decrease) in income taxes payable	485,000	−400,000	−800,000	1	−17
Deferred tax expense (benefit)	−24	−3	−9	−2	5
Net cash (used in) provided by operating activities	−9	29	410,000	−37	−58
Capital expenditures	−17	−13	−16	−5	−4
Proceeds from disposal of property, plant and equipment	2	2	1	4	571,000
Acquisition of intangible assets	−4	−294,000	−419,000	0	0
Proceeds from disposal of equity securities (Note 6 and 9)	16	0	0	720,000	0
Acquisitions, net of cash acquired (Note 3)	−13	−2	0	−202	0
Proceeds from disposal of equity-accounted investment (Note 9)	0	4	656,000	865,000	0
Repayment of loans by equity-accounted investments	0	250,000	112,000	0	134,000
Loans to equity-accounted investment (Note 9)	0	0	−112,000	0	−1
Net change in settlement assets	4	−7	−2	−4	8
Net cash used in investing activities	−11	−16	−16	−194	48
Proceeds from bank overdraft (Note 12)	99	183	520	571	360
Repayment of bank overdraft (Note 12)	−90	−200	−547	−525	−365
Long-term borrowings utilized (Note 12)	190	24	24	79	0
Repayment of long-term borrowings (Note 12)	−150	−20	−18	−6	0
Non-refundable deal origination fees/guarantee fees (Note 12)	−970,000	0	−100,000	−1	0
Acquisition of treasury stock	−14	−1	−1	0	0
Proceeds from exercise of stock options	116,000	165,000	481,000	759,000	53,000
Dividends paid to non-controlling interest	−432,000	0	0	—	0
Net change in settlement obligations	−4	7	2	4	−8
Net cash provided by (used in) financing activities	30	−7	−19	122	−13
Effect of exchange rate changes on cash	1	2	−11	−10	15
Net increase (decrease) in cash, cash equivalents and restricted cash	11	7	−46	−119	−9

Filings

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