Welcome to our dedicated page for Lesaka Tech news (Ticker: LSAK), a resource for investors and traders seeking the latest updates and insights on Lesaka Tech stock.
Lesaka Technologies, Inc. reports developments tied to its South African fintech platform for Southern Africa's underserviced consumers and merchants. The company provides transactional accounts, lending, insurance, merchant acquiring, cash management, software and Alternative Digital Products, with targeted payment integrations across consumers, merchants and enterprises.
Recurring news includes quarterly and annual financial results, webcast and conference-call notices, capital-structure disclosures and operating updates across the Merchant, Consumer and Enterprise activities. Company updates also reflect its primary NASDAQ listing under LSAK and secondary Johannesburg Stock Exchange listing under LSK.
Lesaka Technologies (NASDAQ:LSAK) has announced its subsidiary will acquire 100% of Bank Zero Mutual Bank in a significant strategic transaction. The deal involves a combination of newly issued shares, giving Bank Zero shareholders 12% ownership in Lesaka's fully diluted shares, plus up to ZAR 91 million ($5.1 million) in cash.
Bank Zero, founded in 2018, is a South African digital bank with over 40,000 funded accounts and deposits exceeding ZAR 400 million. The acquisition aims to create a vertically integrated fintech platform, potentially reducing Lesaka's gross debt by over ZAR 1.0 billion. Post-completion, Bank Zero's leadership, including Chairman Michael Jordaan and CEO Yatin Narsai, will maintain key roles, with Jordaan joining Lesaka's Board.
The transaction is expected to be accretive to shareholders, with Bank Zero projected to be profitable in the following fiscal year.Lesaka Technologies (NASDAQ: LSAK) has announced it will release its third quarter 2025 financial results after the U.S. market close on May 7, 2025. The company will host a presentation webcast the following day, May 8, 2025, at 8:00am EDT (2:00pm SAST).
The webcast will include a live question and answer session for analysts and investors, with participants able to submit questions during the session. An archived version of the webcast will be made available on Lesaka's Investor Relations website after the presentation.
Lesaka Technologies (NASDAQ:LSAK) has announced the release of four detailed investor presentations ahead of its upcoming Investor Day scheduled for March 31, 2025, at 9:00am EDT. The presentations, now available on the company's investor relations website, cover:
- Lesaka Overview - detailing strategic vision, market opportunities, and competitive positioning
- Consumer Division - highlighting solutions and strategies for serving consumers
- Merchant Division - outlining approaches for various merchant customers
- Enterprise Division - focusing on solutions for enterprises and their ecosystems
The Investor Day will feature a live presentation by management discussing vision, recent performance, and outlook, followed by a Q&A session with analysts and investors. An archived version will be available post-event.
Lesaka Technologies (Nasdaq: LSAK; JSE: LSK) has completed the acquisition of Recharger for ZAR 507 million ($27 million). The purchase structure includes:
- ZAR 332 million ($18 million) in cash
- ZAR 175 million ($9 million) in Lesaka common stock
The deal is being settled in two tranches: The first tranche at closing comprises ZAR 153 million ($8 million) cash and 1,092,361 Lesaka shares valued at ZAR 98 million ($5 million). The second tranche, due March 3, 2026, will include ZAR 175 million ($9 million) cash and shares worth ZAR 75 million ($4 million). Additionally, Lesaka provided a ZAR 43 million ($2 million) loan to Recharger to repay an existing seller loan. This strategic acquisition marks Lesaka's entry into South Africa's private utilities space and enhances its Enterprise Division's alternative payment offerings.
Lesaka Technologies (Nasdaq: LSAK; JSE: LSK) has announced an upcoming Investor Day scheduled for March 31, 2025, from 9:00 AM to 11:00 AM EDT. The event will feature presentations from senior leadership covering:
- Strategic vision and market positioning
- Go-to-market strategies across Consumer, Merchant and Enterprise divisions
- Financial performance and outlook
- Live Q&A session for analysts and investors
The event will be accessible both virtually and in-person at Lesaka's Rosebank head office, with times scheduled for multiple time zones: 2:00-4:00 PM BST (London) and 3:00-5:00 PM SAST (Johannesburg). Virtual attendees can submit questions during the Q&A session. All presentation materials will be available on Lesaka's Investor Relations website before and after the event. Registration deadline is March 25, 2025.
Lesaka Technologies (NASDAQ: LSAK) has released its Q2 2025 financial results, reporting revenue of $146.8 million, up from $143.9 million in Q2 2024. Net Revenue increased 42% to $77.1 million. The company reported an operating income of $0.8 million, down from $2.3 million in Q2 2024.
The company's net loss increased to $32.1 million, primarily due to a $26.6 million non-cash change in fair value of Mobikwik. Group Adjusted EBITDA improved 26% to $11.8 million, exceeding guidance. The Merchant Division saw a 5% decrease in Revenue but a 68% increase in Net Revenue, while the Consumer Division reported 31% growth in both Revenue and Net Revenue.
Lesaka reaffirmed its FY2025 guidance and provided FY2026 Group Adjusted EBITDA guidance of ZAR 1.25-1.45 billion. The company has successfully delivered on profitability guidance for ten consecutive quarters.
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.