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. (NASDAQ: LSAK; JSE: LSK) is a South African fintech and transaction-processing company that regularly publishes detailed updates on its financial and operational performance. Its news flow includes quarterly and annual earnings releases, preliminary and final results announcements, and guidance updates that explain trends in revenue, Net Revenue, Group Adjusted EBITDA, Adjusted earnings and other non-GAAP measures. These releases often discuss performance across the Merchant, Consumer and Enterprise segments and provide context on how Lesaka’s multiproduct platform is being used by underserviced consumers and merchants in Southern Africa.
Investors following LSAK news will see recurring coverage of Lesaka’s transaction-processing activities, including its role in selling Pinned Airtime and distributing pre-paid solutions such as pinless airtime, prepaid electricity, gaming vouchers and other Alternative Digital Products or Alternative Digital Payments. The company’s communications also describe developments in its financial services offerings, such as transactional accounts, lending, insurance, merchant acquiring, cash management and software, and how these services contribute to its connected ecosystem.
Lesaka’s news releases also highlight corporate actions and strategic transactions. Examples include announcements about the sale of its non-core Mobikwik investment and the proposed acquisition of Bank Zero Mutual Bank, where Lesaka has outlined the strategic rationale for combining a digital bank with its fintech and distribution platform. In addition, the company issues notices about webcasts and conference calls for analysts and investors, providing access details for presentations and question-and-answer sessions around earnings dates.
Regulatory and reporting developments are another important theme in Lesaka’s news. The company has reported on restatements of certain interim financial statements related to revenue classification as principal versus agent and has explained the expected impact on reported revenue and related costs. For readers, the Lesaka news page offers a centralized view of these earnings updates, transaction announcements, guidance changes, restatement disclosures and investor event notices related to LSAK stock.
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.
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.
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