LESAKA TECHNOLOGIES INCLSAK
LESAKA TECHNOLOGIES INC Earnings Per Share Disclosure
19. (LOSS) EARNINGS PER SHARE
The Company has issued redeemable common stock (refer to Note 14) which is redeemable at an amount other than fair value.
Redemption of a class of common stock at other than fair value increases or decreases the carrying amount of the redeemable common
stock and is reflected in basic earnings per share using the two-class method. There were
no
adjustments to the carrying value of the redeemable common stock during the years ended June 30, 2025, 2024 and 2023. Accordingly,
the two-class method presented below does not include the impact of any redemption.
Basic (loss) earnings per share includes shares of restricted stock that meet the definition of a participating security because these
shares are eligible to receive non -forfeitable dividend equivalents at the same rate as common stock. Basic (loss) earnings per share
has been calculated using the two-class method and basic (loss) earnings per share for the years ended June 30, 2025, 2024 and 2023,
reflects only undistributed earnings. The computation below of basic (loss) earnings per share excludes the net loss attributable to
shares of unvested restricted stock (participating non-vested restricted stock) from the numerator and excludes the dilutive impact of
these unvested shares of restricted stock from the denominator.
Diluted (loss) earnings per share have been calculated to give effect to the number of shares of additional common stock that
would have been outstanding if the potential dilutive instruments had been issued in each period. Stock options are included in the
calculation of diluted (loss) earnings per share utilizing the treasury stock method and are not considered to be participating securities,
as the stock options do not contain non-forfeitable dividend rights. The calculation of diluted (loss) earnings per share includes the
dilutive effect of a portion of the restricted stock granted to employees during the current and previous fiscal periods as these shares
of restricted stock are considered contingently returnable shares for the purposes of the diluted (loss) earnings per share calculation
and the vesting conditions in respect of a portion of the restricted stock had been satisfied. The vesting conditions are discussed in
Note 17. The Company has excluded employee stock options to purchase
188,632
,
46,777
112,783
the calculation of diluted loss per share during the years ended June 30, 2025, 2024 and 2023, respectively, because the effect would
be antidilutive.
19. (LOSS) EARNINGS PER SHARE (continued)
The following table presents net loss attributable to Lesaka and the share data used in the basic and diluted (loss) earnings per
share computations using the two-class method for the years ended June 30, 2025, 2024 and 2023:
2025
2024
2023
(in thousands except percent and per share data)
Numerator:
Net loss attributable to Lesaka
$
(87,504)
$
(17,440)
$
(35,074)
Undistributed loss
(87,504)
(17,440)
(35,074)
Percent allocated to common shareholders
(Calculation 1)
97%
95%
95%
Numerator for loss per share: basic and diluted
$
(84,557)
$
(16,651)
$
(33,407)
Denominator
Denominator for basic loss per share:
weighted-average common shares outstanding
73,891
61,276
60,134
Effect of dilutive securities:
Denominator for diluted loss per share: adjusted weighted average
common shares outstanding and assumed conversion
73,891
61,276
60,134
Loss per share:
Basic
$
(1.14)
$
(0.27)
$
(0.56)
Diluted
$
(1.14)
$
(0.27)
$
(0.56)
(Calculation 1)
Basic weighted-average common shares outstanding (A)
73,891
61,276
60,134
Basic weighted-average common shares outstanding and unvested
restricted shares expected to vest (B)
76,466
64,179
63,134
Percent allocated to common shareholders
97%
95%
95%
Options to purchase
6,493,683
,
4,737,543
276,616
4.87
$
14.00
4.87
11.23
respectively, but were not included in the computation of diluted (loss) earnings per share because the options’ exercise prices were
greater than the average market price of the Company’s common shares. The options, which expire at various dates through February
3, 2032, were still outstanding as of June 30, 2025.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Sep 29, 2025 | Showing above |
| 2024 | Sep 11, 2024 | |
| 2023 | Sep 12, 2023 | |
| 2022 | Sep 9, 2022 | |
| 2021 | Sep 13, 2021 | |
| 2020 | Sep 10, 2020 | |
| 2019 | Oct 25, 2019 | |
| 2018 | Sep 12, 2018 | |
| 2017 | Aug 24, 2017 | |
| 2016 | Aug 25, 2016 | |
About Earnings Per Share Disclosures
The earnings per share disclosure breaks down the calculation from net income to both basic and diluted EPS, revealing the full impact of a company's capital structure on per-share economics. The reconciliation between basic and diluted share counts exposes how many stock options, RSUs, convertible securities, and warrants are potentially dilutive to existing shareholders.
Key signals: a widening gap between basic and diluted shares indicates growing dilution from equity compensation or convertible instruments. Anti-dilutive securities excluded from the diluted calculation deserve attention — they represent latent dilution that will materialize if the stock price rises. Watch for the effect of share buybacks on per-share metrics: EPS growth driven primarily by repurchases rather than income growth signals weakening fundamentals. Compare year-over-year changes in the diluted share count against equity compensation expense to assess whether management is effectively managing dilution.