Lesaka Tech Stock Price, News & Analysis

Lesaka Technologies, a South African fintech company, will release its third quarter 2023 results on May 9, 2023, after U.S. market close. A presentation webcast and conference call for these results will take place on May 10, 2023, at 8:00 a.m. EST (2:00 p.m. SAST). Participants can access the results via a webcast link, and a replay will be available afterward on the company's investor relations site. Lesaka Technologies focuses on providing financial services solutions, including cash management, lending, and insurance, primarily targeting underserved markets in Southern Africa. The company, listed on both NASDAQ (LSAK) and the JSE (LSK), aims to enhance financial inclusion through its innovative services.

Lesaka Technologies, Inc. (Nasdaq: LSAK; JSE: LSK) reported significant financial results for Q2 2023, ending December 31, 2022. Revenue surged to $136.1 million, a 337% increase from the same quarter last year, driven by strong performance in the Merchant Division. The company posted a narrowed net loss of $6.6 million versus $12.4 million in Q2 2022. Operating losses improved by 74% to $2.2 million, while Group Adjusted EBITDA reached $7.4 million. Cash provided by operating activities stood at $3.4 million. Lesaka reaffirmed its fiscal 2023 guidance, anticipating continued growth amidst challenges.

Lesaka Technologies, Inc. (NASDAQ: LSAK) reported strong Q2 2023 results with Adjusted EBITDA of $7.4 million and revenue of $136.1 million, significantly surpassing prior forecasts. This marks a 77% increase in EBITDA from the previous quarter and a substantial turnaround from a loss of $5.4 million in Q2 2022. Positive net cash provided by operating activities reached $3.4 million, improving from an outflow of $13.8 million a year earlier. The company reaffirms its fiscal 2023 guidance, reflecting sustained growth in its Merchant Division amid challenges in the operating environment.

Lesaka Technologies announced the departure of Mr. Alex M.R. Smith, effective March 1, 2023, as he seeks new opportunities. During his notice period, he will assist in consolidating the Chief Accounting Officer role into the existing finance team. Group CEO Chris Meyer acknowledged Smith's key contributions during a transformational period for Lesaka. Group CFO Naeem E. Kola emphasized the successful integration of Connect Group, which has enhanced the finance function and positioned Lesaka for future growth. Lesaka, a South African fintech company, aims to drive financial inclusion through innovative solutions for merchants and consumers.

Lesaka Technologies announced it will release its second quarter 2023 results after the U.S. market close on February 7, 2023. A conference call and webcast will follow on February 8, 2023, at 8:00 a.m. EST (3:00 p.m. SAST) to discuss the results. Investors can access the webcast via this link.

Participants are encouraged to join the live event to ask questions. The company specializes in fintech solutions for Southern Africa, focusing on financial inclusion for merchants and consumers.