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Lesaka Technologies, Inc. released Q3 2024 results, showing an increase in revenue to $138.2 million, operating income of $0.8 million, and a reduced net loss of $4.0 million. Group Adjusted EBITDA rose to $9.7 million, fundamental earnings per share turned positive at $0.02, and revenue guidance for fiscal 2024 was re-affirmed. The Net debt to Group Adjusted EBITDA ratio improved to 2.6 times. Lesaka CEO highlighted strong performance, improved profitability, and excitement about the Adumo acquisition.
Lesaka Technologies, Inc. has agreed to acquire Adumo RF (Pty) for ZAR 1.59 billion ($85.9 million). The deal includes shares of Lesaka common stock and cash, funded internally and externally. Adumo's operations cover card acquiring, integrated payments, and corporate card services, with over 23,000 active merchants and processing ZAR 24 billion ($1.3 billion) annually. The acquisition will expand Lesaka's reach to 1.7 million consumers, 119,000 merchants, and process over ZAR 250 billion in throughput per year across Southern Africa, solidifying its position as a leading fintech platform in the region.
