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. (LSAK) delivers innovative fintech solutions through its Merchant and Consumer segments, specializing in payment processing and financial services across South Africa. This news hub provides investors with essential updates on strategic developments, operational milestones, and market positioning.
Access real-time updates on earnings reports, partnership announcements, and technology initiatives like the company's offline transaction capabilities. Track significant corporate actions including recent strategic acquisitions such as Adumo RF, which expand Lesaka's merchant services footprint.
The page consolidates press releases covering:
• Merchant segment developments: Payment processing innovations, prepaid product expansions
• Consumer financial services: Digital banking features, loan product updates
• Strategic growth: Market expansion efforts, technology investments
• Regulatory compliance: Operational licensing, service certifications
Bookmark this resource for streamlined monitoring of Lesaka's progress in transforming Southern Africa's digital payment landscape through accessible financial technologies.
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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