Lesaka Tech Financials
This page shows Lesaka Tech (LSAK) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 17 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Revenue expansion has been accompanied by a heavier financing and overhead load, so added scale has not become durable cash generation.
FY2024's cash-flow improvement was not the start of a self-funding model: FY2025 added about$95M of revenue, but operating cash flow fell from$28.8M to-$9.1M while SG&A rose by about$39.5M , so the extra scale arrived with a much heavier operating cost load rather than better cash conversion.
Profitability is being squeezed below the gross line, not rescued by scale alone. After reaching a small operating profit in FY2024, the business returned to
Growth has become more balance-sheet-intensive. Goodwill increased from
Financial Health Signals
Scored against operating companies for FY2025. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →
Health score ≠ stock price. This rates the quality of Lesaka Tech's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.
Lesaka Tech has an operating margin of -4.1%, meaning the company retains $-4 of operating profit per $100 of revenue. This results in a moderate score of 31/100, indicating healthy but not exceptional operating efficiency. This is down from 0.6% the prior year.
Lesaka Tech's revenue surged 16.9% year-over-year to $659.7M, reflecting rapid business expansion. This strong growth earns a score of 69/100.
Lesaka Tech has elevated debt relative to equity (D/E of 1.17), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 2/100, reflecting increased financial risk.
Lesaka Tech's current ratio of 1.48 indicates adequate short-term liquidity, earning a score of 40/100. The company can meet its near-term obligations, though with limited headroom.
While Lesaka Tech generated -$9.1M in operating cash flow, capex of $17.2M consumed most of it, leaving -$26.3M in free cash flow. This results in a low score of 25/100, reflecting heavy capital investment rather than weak cash generation.
Lesaka Tech's ROE of -54.1% shows moderate profitability relative to equity, earning a score of 32/100. This is down from -9.9% the prior year.
Lesaka Tech scores 2.07, placing it in the grey zone between 1.81 and 2.99. This signals moderate financial risk that warrants monitoring.
Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.
Lesaka Tech passes 2 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, Lesaka Tech generates $0.10 in operating cash flow (-$9.1M OCF vs -$87.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
Lesaka Tech earns $-1.3 in operating income for every $1 of interest expense (-$27.1M vs $21.5M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
Lesaka Tech generated $659.7M in revenue in fiscal year 2025. This represents an increase of 16.9% from the prior year.
Lesaka Tech's EBITDA was $6.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 75.7% from the prior year.
Lesaka Tech reported -$87.5M in net income in fiscal year 2025. This represents a decrease of 401.7% from the prior year.
Lesaka Tech earned $-1.14 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 322.2% from the prior year.
Cash & Balance Sheet
Lesaka Tech generated -$26.3M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 263.2% from the prior year.
Lesaka Tech held $76.5M in cash against $188.8M in long-term debt as of fiscal year 2025.
Lesaka Tech had 81M shares outstanding in fiscal year 2025. This represents an increase of 26.4% from the prior year.
Margins & Returns
Lesaka Tech's operating margin was -4.1% in fiscal year 2025, reflecting core business profitability. This is down 4.8 percentage points from the prior year.
Lesaka Tech's net profit margin was -13.3% in fiscal year 2025, showing the share of revenue converted to profit. This is down 10.2 percentage points from the prior year.
Lesaka Tech's ROE was -54.1% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is down 44.2 percentage points from the prior year.
Capital Allocation
Lesaka Tech invested $500K in research and development in fiscal year 2025. This represents an increase of 0.0% from the prior year.
Lesaka Tech spent $13.7M on share buybacks in fiscal year 2025, returning capital to shareholders by reducing shares outstanding. This represents an increase of 813.7% from the prior year.
Lesaka Tech invested $17.2M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 35.8% from the prior year.
LSAK Income Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $183.1M+2.4% | $178.7M+4.2% | $171.4M+1.8% | $168.5M+4.3% | $161.4M-8.4% | $176.2M+14.7% | $153.6M+5.2% | $146.0M |
| Cost of Revenue | $123.9M+1.0% | $122.7M+3.6% | $118.4M-1.0% | $119.6M+2.1% | $117.2M-10.5% | $130.9M+10.1% | $118.9M+5.2% | $113.1M |
| Gross Profit | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $39.2M+8.8% | $36.1M-9.0% | $39.6M+3.3% | $38.4M+17.8% | $32.6M-3.7% | $33.8M+26.7% | $26.7M+7.6% | $24.8M |
| Operating Income | $4.1M+90.0% | $2.1M+461.4% | $383K+101.4% | -$28.0M-7741.5% | $366K-33.1% | $547K+1315.6% | -$45K-115.3% | $295K |
| Interest Expense | $4.5M-2.5% | $4.6M-6.3% | $4.9M+14.3% | $4.3M-27.0% | $5.9M-6.3% | $6.3M+24.5% | $5.0M+8.9% | $4.6M |
| Income Tax | $1.5M+124.3% | $670K+558.9% | -$146K+98.4% | -$8.9M-204.4% | -$2.9M+54.2% | -$6.4M-8320.5% | $78K-94.7% | $1.5M |
| Net Income | $552K-84.9% | $3.6M+184.8% | -$4.3M+84.7% | -$28.2M-25.9% | -$22.4M+31.1% | -$32.5M-614.6% | -$4.5M+9.8% | -$5.0M |
| EPS (Diluted) | $0.01-75.0% | $0.04+180.0% | $-0.05 | N/A | $-0.28+30.0% | $-0.40-471.4% | $-0.07 | N/A |
LSAK Balance Sheet
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $675.0M-4.2% | $704.6M+7.9% | $652.9M-0.1% | $653.7M+0.7% | $649.2M+1.3% | $640.6M+16.1% | $551.9M-1.2% | $558.5M |
| Current Assets | $274.5M-3.6% | $284.9M+18.4% | $240.5M-1.4% | $243.9M+14.8% | $212.4M+0.5% | $211.4M+26.3% | $167.3M-10.9% | $187.7M |
| Cash & Equivalents | $90.6M+30.4% | $69.5M-3.7% | $72.2M-5.7% | $76.5M+7.8% | $71.0M+17.1% | $60.6M+22.0% | $49.7M-15.9% | $59.1M |
| Inventory | $17.5M-30.3% | $25.1M+32.4% | $19.0M-19.5% | $23.6M+25.0% | $18.8M-31.1% | $27.3M+35.4% | $20.2M+10.8% | $18.2M |
| Accounts Receivable | $45.5M-21.9% | $58.2M+30.0% | $44.8M+5.3% | $42.5M+17.7% | $36.1M-21.8% | $46.2M+54.9% | $29.8M-18.7% | $36.7M |
| Goodwill | $207.1M-2.2% | $211.9M+3.4% | $205.0M+2.8% | $199.4M-5.0% | $209.8M+4.5% | $200.8M+37.0% | $146.6M+5.8% | $138.6M |
| Total Liabilities | $403.6M-5.7% | $428.0M+10.7% | $386.6M-2.4% | $396.3M+7.6% | $368.2M+4.7% | $351.6M+22.0% | $288.2M-4.9% | $303.2M |
| Current Liabilities | $178.8M-1.7% | $181.8M+21.8% | $149.3M-9.2% | $164.4M+6.1% | $155.0M-35.0% | $238.5M+118.8% | $109.0M-16.1% | $129.9M |
| Long-Term Debt | $186.2M-8.6% | $203.8M+4.2% | $195.5M+3.6% | $188.8M+13.3% | $166.6M+141.8% | $68.9M-47.9% | $132.1M+3.7% | $127.5M |
| Total Equity | $186.6M+3.4% | $180.6M+6.0% | $170.4M+5.4% | $161.6M-12.7% | $185.2M-4.2% | $193.3M+4.9% | $184.2M+4.8% | $175.9M |
| Retained Earnings | $218.3M+0.3% | $217.7M-0.3% | $218.4M-0.1% | $218.7M-13.0% | $251.5M-8.1% | $273.5M-10.5% | $305.7M-1.5% | $310.2M |
LSAK Cash Flow Statement
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | $37.6M+444.2% | -$10.9M-222.3% | $8.9M+237.6% | -$6.5M-160.8% | $10.7M+216.3% | -$9.2M-121.6% | -$4.1M-173.2% | $5.7M |
| Capital Expenditures | $3.4M-13.4% | $3.9M-1.5% | $4.0M-2.9% | $4.1M+45.5% | $2.8M-55.4% | $6.3M+59.3% | $4.0M-15.9% | $4.7M |
| Free Cash Flow | $34.2M+330.3% | -$14.8M-400.2% | $4.9M+146.7% | -$10.6M-234.9% | $7.8M+150.7% | -$15.5M-91.1% | -$8.1M-964.7% | $937K |
| Investing Cash Flow | -$9.8M-70.7% | -$5.7M-1139.0% | -$461K-104.7% | $9.9M+198.7% | -$10.0M+12.9% | -$11.5M-4175.9% | $282K-77.7% | $1.3M |
| Financing Cash Flow | -$3.5M-131.8% | $11.0M+174.7% | -$14.7M-9054.0% | -$161K-101.9% | $8.5M-76.9% | $36.9M+338.1% | -$15.5M-420.9% | -$3.0M |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | $40K-85.2% | $271K | N/A | $1.0M+3777.8% | $27K-99.8% | $12.6M | N/A | $1.3M |
LSAK Financial Ratios
| Metric | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Operating Margin | 2.2%+1.0pp | 1.2%+1.0pp | 0.2%+16.8pp | -16.6%-16.8pp | 0.2%-0.1pp | 0.3%+0.3pp | -0.0%-0.2pp | 0.2% |
| Net Margin | 0.3%-1.7pp | 2.0%+4.5pp | -2.5%+14.2pp | -16.7%-2.9pp | -13.9%+4.6pp | -18.4%-15.5pp | -3.0%+0.5pp | -3.5% |
| Return on Equity | 0.3%-1.7pp | 2.0%+4.5pp | -2.5%+14.9pp | -17.4%-5.3pp | -12.1%+4.7pp | -16.8%-14.3pp | -2.5%+0.4pp | -2.9% |
| Return on Assets | 0.1%-0.4pp | 0.5%+1.2pp | -0.7%+3.6pp | -4.3%-0.9pp | -3.4%+1.6pp | -5.1%-4.3pp | -0.8%+0.1pp | -0.9% |
| Current Ratio | 1.54-0.0 | 1.57-0.0 | 1.61+0.1 | 1.48+0.1 | 1.37+0.5 | 0.89-0.6 | 1.53+0.1 | 1.45 |
| Debt-to-Equity | 1.00-0.1 | 1.13-0.0 | 1.15-0.0 | 1.17+0.3 | 0.90+0.5 | 0.36-0.4 | 0.720.0 | 0.72 |
| FCF Margin | 18.7%+27.0pp | -8.3%-11.2pp | 2.9%+9.2pp | -6.3%-11.1pp | 4.9%+13.7pp | -8.8%-3.5pp | -5.3%-5.9pp | 0.6% |
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Frequently Asked Questions
What is Lesaka Tech's annual revenue?
Lesaka Tech (LSAK) reported $659.7M in total revenue for fiscal year 2025. This represents a 16.9% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is Lesaka Tech's revenue growing?
Lesaka Tech (LSAK) revenue grew by 16.9% year-over-year, from $564.2M to $659.7M in fiscal year 2025.
Is Lesaka Tech profitable?
No, Lesaka Tech (LSAK) reported a net income of -$87.5M in fiscal year 2025, with a net profit margin of -13.3%.
What is Lesaka Tech's EBITDA?
Lesaka Tech (LSAK) had EBITDA of $6.6M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
How much debt does Lesaka Tech have?
As of fiscal year 2025, Lesaka Tech (LSAK) had $76.5M in cash and equivalents against $188.8M in long-term debt.
What is Lesaka Tech's operating margin?
Lesaka Tech (LSAK) had an operating margin of -4.1% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is Lesaka Tech's net profit margin?
Lesaka Tech (LSAK) had a net profit margin of -13.3% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is Lesaka Tech's return on equity (ROE)?
Lesaka Tech (LSAK) has a return on equity of -54.1% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is Lesaka Tech's free cash flow?
Lesaka Tech (LSAK) generated -$26.3M in free cash flow during fiscal year 2025. This represents a -263.2% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is Lesaka Tech's operating cash flow?
Lesaka Tech (LSAK) generated -$9.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are Lesaka Tech's total assets?
Lesaka Tech (LSAK) had $653.7M in total assets as of fiscal year 2025, including both current and long-term assets.
What are Lesaka Tech's capital expenditures?
Lesaka Tech (LSAK) invested $17.2M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
How much does Lesaka Tech spend on research and development?
Lesaka Tech (LSAK) invested $500K in research and development during fiscal year 2025.
What is Lesaka Tech's current ratio?
Lesaka Tech (LSAK) had a current ratio of 1.48 as of fiscal year 2025, which is considered adequate.
What is Lesaka Tech's debt-to-equity ratio?
Lesaka Tech (LSAK) had a debt-to-equity ratio of 1.17 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is Lesaka Tech's return on assets (ROA)?
Lesaka Tech (LSAK) had a return on assets of -13.4% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is Lesaka Tech's cash runway?
Based on fiscal year 2025 data, Lesaka Tech (LSAK) had $76.5M in cash against an annual operating cash burn of $9.1M. This gives an estimated cash runway of approximately 101 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is Lesaka Tech's Altman Z-Score?
Lesaka Tech (LSAK) has an Altman Z-Score of 2.07, placing it in the Grey Zone (moderate risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.
What is Lesaka Tech's Piotroski F-Score?
Lesaka Tech (LSAK) has a Piotroski F-Score of 2 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are Lesaka Tech's earnings high quality?
Lesaka Tech (LSAK) has an earnings quality ratio of 0.10x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can Lesaka Tech cover its interest payments?
Lesaka Tech (LSAK) has an interest coverage ratio of -1.3x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is Lesaka Tech?
Lesaka Tech (LSAK) scores 33 out of 100 on our Financial Health Score, indicating weak standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.