Welcome to our dedicated page for Lesaka Technologies news (Ticker: LSAK), a resource for investors and traders seeking the latest updates and insights on Lesaka Technologies stock.
Lesaka Technologies, Inc. (NASDAQ: LSAK) is a leading provider of payment solutions, transaction processing, and financial technologies, predominantly operating in South Africa. The company's activities are divided into two main segments: Merchant and Consumer.
The Merchant segment, which accounts for the majority of the company's revenue, focuses on providing goods and services to corporate clients and other legal entities. This includes processing activities for customers and the distribution of prepaid airtime. The Consumer segment, on the other hand, involves offering financial services such as bank accounts, loans, and insurance products to individual customers. Lesaka charges monthly administration fees for all its bank accounts.
Lesaka's core technology, the Universal Electronic Payment System (UEPS), is designed to serve unbanked and under-banked populations. This system utilizes smart cards that function both online and offline, allowing transactions even in remote areas where traditional banking infrastructure is nonexistent. This innovative approach enables billions of people with limited access to conventional banking to engage in electronic transactions with government agencies, employers, merchants, and other financial service providers.
Recently, Lesaka signed a definitive agreement to acquire Adumo RF (Pty) Ltd for ZAR 1.59 billion ($85.9 million), a transaction expected to significantly strengthen its market position. The acquisition will be funded through a mix of stock issuance and cash, sourced from internal and external financing. This strategic move aligns with Lesaka's mission to enhance its service offerings and reach in the digital payment landscape.
Financially, Lesaka continues to demonstrate resilience despite challenging economic conditions. The company reports its financial results in USD while measuring its operating performance in ZAR. This dual reporting helps provide more accurate guidance and performance metrics to investors. Lesaka's latest earnings presentation and financial metrics for the first quarter of 2024 are available on the Investor Relations page of their website.
Lesaka remains committed to innovation and positively impacting the lives of small merchants and grant beneficiaries in South Africa by facilitating digitalization in the informal economy. For more information, visit their official website or contact their Investor Relations team.
Lesaka Technologies (NASDAQ: LSAK; JSE: LSK) has announced it will release its second quarter 2025 financial results after the U.S. market close on February 5, 2025. The company will host a presentation webcast and conference call on February 6, 2025, at 8:00 a.m. EST (3:00 p.m. SAST) to discuss the results.
Participants can join via Zoom webcast with live Q&A functionality or through conference call dial-in options available for both U.S. and South African audiences. A replay of the presentation will be available on Lesaka's investor relations website after the event.
Lesaka Technologies (Nasdaq: LSAK) has announced a definitive agreement to acquire Recharger, a South African prepaid electricity submetering and payments business, for ZAR 507 million ($28 million). The purchase will be completed in two tranches, combining ZAR 332 million ($18 million) in cash and ZAR 175 million ($10 million) in Lesaka common stock. Additionally, Lesaka will contribute ZAR 43 million ($2 million) at closing for Recharger's loan repayment. The transaction, expected at a 6.0x EV/EBITDA multiple, aims to expand Lesaka's presence in South Africa's private utilities sector and enhance its Enterprise pillar's alternative payment offerings. The acquisition is anticipated to close in Lesaka's third quarter of fiscal 2025.
Lesaka Technologies (Nasdaq: LSAK) shareholders have approved the creation of an Employee Share Ownership Plan (ESOP), allocating 3% of issued shares (worth approximately R215 million) to the Lesaka ESOP Trust. The plan, excluding executives and senior leadership, offers equal benefits to all qualifying employees regardless of position or demographics. The ESOP features a seven-year vesting period with dividend rights and potential capital appreciation benefits. The trust is structured as evergreen, allowing future employee inclusion, and will contribute to the company's BBBEE rating, with 87% of employees from designated groups. Implementation begins January 31, 2025, requiring a minimum two-year service qualification by December 31, 2024.
Lesaka Technologies (Nasdaq: LSAK) reported Q1 2025 results with revenue of $145.5 million, meeting mid-point guidance. The company recorded an operating loss of $0.05 million, including $1.7 million in one-off Adumo acquisition costs. Net loss improved 23% to $4.5 million, while Group Adjusted EBITDA grew 12% to $9.4 million. Consumer Division revenue increased 30% to $21.1 million, while Merchant Division revenue remained flat at $125.3 million. The company reaffirmed its FY 2025 guidance, projecting revenue of ZAR 10-11 billion and Group Adjusted EBITDA of ZAR 900 million to 1 billion, implying 37% year-on-year growth.
Lesaka Technologies, Inc. (NasdaqGS: LSAK; JSE: LSK) has announced it will release its first quarter 2025 results after the U.S. market close on November 6, 2024. The company will host a presentation webcast and conference call on November 7, 2024, at 8:00 a.m. Eastern Time (3:00 p.m. South Africa Standard Time) to review these results.
Investors can access the webcast via Zoom using the provided link. Participants using the webcast will be able to ask questions live. For those preferring a conference call, toll-free dial-in numbers for the US and South Africa are provided. However, participants using the conference call dial-in will not be able to ask questions. A replay of the results presentation webcast will be available on Lesaka's investor relations website after the event.
Lesaka Technologies (Nasdaq: LSAK; JSE: LSK) has completed its acquisition of Adumo RF, South Africa's largest independent payments processor. The transaction, valued at ZAR 1.67 billion ($96.2 million), was settled through the issuance of 17,279,803 Lesaka shares and a cash payment of ZAR 232.2 million ($13.4 million).
This acquisition strengthens Lesaka's position as a leading fintech in Southern Africa, enhancing its consumer and merchant markets. The combined entity will serve 1.7 million active consumers, 120,000 merchants, and process over ZAR 270 billion in annual throughput. The Group will operate in 5 countries with over 3,300 employees.
Adumo CEO Paul Kent joins Lesaka's executive team, while Crossfin CEO Dean Sparrow joins the board as a non-executive director. Lesaka has also agreed to purchase 2,601,410 of its own shares for ZAR 207.2 million ($12.0 million) to provide liquidity to certain indirect Adumo shareholders.
Lesaka Technologies (Nasdaq: LSAK; JSE: LSK) reported its FY 2024 results, achieving profitability guidance and providing higher guidance for FY 2025. Key highlights include:
- Revenue increased 11% to $564.2 million (ZAR 10.6 billion)
- Operating income improved to $3.6 million from a loss of $15.3 million in FY 2023
- Net loss improved 48% to $17.4 million
- Group Adjusted EBITDA increased 55% to $36.9 million
- Net debt to Group Adjusted EBITDA ratio improved to 2.5x from 4.5x
For FY 2025, Lesaka expects revenue between ZAR 10.0-11.0 billion and Group Adjusted EBITDA between ZAR 900 million to ZAR 1 billion, representing over 30% growth. The outlook includes the impact of the Adumo acquisition and excludes unannounced M&A.
Lesaka Technologies, Inc. (LSAK) announced significant leadership changes to align with its growth targets and position as a leading fintech in Southern Africa. Key executive appointments include:
1. Naeem Kola, current Group CFO, will become Group COO from October 1, 2024.
2. Dan Smith will be appointed as Group CFO and join the Board.
Board changes include the resignations of Javed Hamid, Chris Meyer, and Monde Nkosi. Dean Sparrow, Group CEO of Crossfin Technology Holdings, will join as an independent non-executive director upon completion of the Adumo acquisition.
These changes aim to strengthen Lesaka's executive capability and drive strategic and operational synergies as the company scales and pursues its ambition to become Southern Africa's leading fintech platform.
Lesaka Technologies (NASDAQ: LSAK; JSE: LSK) has announced its plan to release Q4 and FY 2024 results on September 11, 2024, after market close. The company will host a presentation webcast and conference call on September 12, 2024, at 8:00 a.m. EST (2:00 p.m. SAST) to review the results.
Investors can access the webcast via Zoom using the link provided, where they can ask questions live. Conference call dial-in options are available for US and South Africa, but participants using this method won't be able to ask questions. A replay of the presentation will be available on Lesaka's investor relations website after the event.
Lesaka Technologies (NasdaqGS:LSAK; JSE: LSK) has announced its upcoming fourth quarter and year-end 2024 results release and presentation. The company will release its financial results on September 4, 2024, after the U.S. market close. A presentation webcast and conference call will be held on September 5, 2024, at 8:00 a.m. EST (2:00 p.m. SAST) to review the results.
Investors can access the webcast via Zoom, where they will have the opportunity to ask questions live. Conference call dial-in options are also available for both U.S. and South African participants, although those using the dial-in will not be able to ask questions. A replay of the presentation will be made available on Lesaka's investor relations website after the event.
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