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 (LSAK) reported Q1 2023 results, achieving revenue of $124.8 million, a remarkable 262% increase from Q1 2022. This growth is attributed to the full-quarter inclusion of the Connect acquisition. Adjusted EBITDA improved to ZAR 111 million ($6.5 million), marking a significant recovery from a loss of ZAR 106 million in the prior year. Operating losses reduced to $4.7 million from $11.2 million year-on-year. The company expects to reach consumer business break-even by Q2 2023, with guidance for total revenue between ZAR 8.7 billion and ZAR 9.3 billion for FY 2023.
Lesaka Technologies announced its first quarter results for 2023, set to be released on November 8, 2022, after the U.S. market closes. A conference call will follow on November 9, 2022, at 8:00 a.m. Eastern Time, accessible via a webcast link. Lesaka, a South African fintech company, focuses on financial inclusion, providing solutions to underserved markets. Its services include cash management, card acquiring, lending, and insurance. Lesaka is traded on NASDAQ under the symbol LSAK and has a secondary listing on the Johannesburg Stock Exchange as LSK.
Lesaka Technologies, Inc. (NASDAQ: LSAK; JSE: LSK) announced financial guidance for FY23, projecting revenue between $565 million and $600 million with an Adjusted EBITDA loss of $31 million to $34 million. The FY22 results showed a revenue of $222.6 million and an Adjusted EBITDA loss of $18.6 million prior to stock-based compensation. The company clarified that its recent shelf registration statement is a routine renewal for future financing opportunities.
Lesaka Technologies (NASDAQ: LSAK; JSE: LSK) announced that Ian O. Greenstreet will not seek re-election at the upcoming annual meeting in November 2022. Lesaka's Chairman, Kuben Pillay, expressed appreciation for Greenstreet’s contributions during his two and a half years with the company, particularly highlighting his expertise in strategy, risk, and restructuring. Lesaka, a South African fintech firm, focuses on providing financial services to underserved markets in Southern Africa, aiming for financial inclusion through innovative solutions.
Lesaka Technologies, Inc. (Nasdaq: LSAK) reported a significant increase in revenue for Q4 2022, with a total of $121.8 million, up from $34.5 million in Q4 2021, largely due to the acquisition of Connect. The Group's operating loss improved to $10.1 million compared to $13.6 million in the previous year. Annual revenue also rose to $222.6 million, a 70% increase driven by the Connect inclusion and growth in the merchant business. Looking ahead, the company anticipates revenue of $130 million to $133 million for Q1 2023.
Lesaka Technologies (NasdaqGS: LSAK) announced participation in the H.C. Wainright 24th Annual Global Investment Conference on September 14, 2022, and the UBS Fintech Conference on September 15, 2022, in New York City. Group CEO Chris Meyer and Group CFO Naeem Kola will attend in-person, engaging in one-on-one meetings. Lesaka focuses on delivering innovative financial services solutions in Southern Africa, aiming for financial inclusion across both B2B and B2C sectors. The company, originally founded as Net1 in 1997, recently rebranded and continues to expand its fintech capabilities.
Lesaka Technologies, a South African fintech firm, announced it will release its fourth-quarter and year-end 2022 results on September 9, 2022, after U.S. market close. A presentation webcast and conference call will follow on September 12, 2022, at 8:00 a.m. Eastern Time to discuss these results. Participants can access the webcast through a provided link and ask questions live. Lesaka operates primarily on NASDAQ (LSAK) and the Johannesburg Stock Exchange (LSK), offering financial services aimed at promoting inclusion in previously underserved markets.
Lesaka Technologies (NasdaqGS: LSAK; JSE: LSK) will participate in the 4th Annual Needham Virtual FinTech & Digital Conference on August 17, 2022. Attendees include Group CEO Chris Meyer, CFO Naeem Kola, and CEOs Lincoln Mali and Steven Heilbron from the Southern Africa and Connect Group, respectively. Lesaka is a South African fintech firm focused on delivering inclusive financial services through innovative technology solutions for both B2B and B2C markets, aiming to serve previously underserved sectors.
Lesaka Technologies announced the release of Connect Group’s audited financial statements for the two years ending February 28, 2022, showcasing a 22% increase in revenue to R5.1 billion. Key highlights include a 37% increase in gross profit to R570 million and an EBITDA growth of 26% to R382 million, surpassing expectations. A webcast is scheduled for July 7, 2022, to discuss these results. The acquisition of Connect Group has been successful, with performance exceeding the warranted EBITDA of R375 million planned in the acquisition agreement.
Lesaka Technologies, Inc. (NasdaqGS: LSAK; JSE: LSK) has officially commenced trading under its new name and tickers on both the NasdaqGS and Johannesburg Stock Exchange as of May 25, 2022. This change follows shareholder approval on May 6, 2022, and confirmation from the Florida Secretary of State of the amendment to its articles of incorporation. Lesaka aims to enhance financial inclusion in Southern Africa by offering a range of financial services including cash management and lending solutions.
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