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.
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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.
Lesaka Technologies (Nasdaq: LSAK) announced a new employment agreement with CEO Steven Heilbron, effective from January 1, 2023, to June 30, 2025. Heilbron, with over 20 years of financial services experience, has led the Connect Group since 2013. Under his leadership, Connect grew significantly and integrated into Lesaka, promoting financial inclusion in southern Africa. His focus will shift towards Group Strategy, M&A, and Special Projects. Lesaka provides fintech solutions aimed at enhancing financial services accessibility for underserved consumers and merchants in the region.
Lesaka Technologies announced that Group CEO Chris Meyer will participate in a virtual panel discussion at the Credit Suisse 2022 European Private and Public Companies Financial Disruption Conference on November 17, 2022, at 11:00 am SAST.
Lesaka is a South African Fintech company focused on providing banking and payment solutions aimed at enhancing financial inclusion in Southern Africa. The company, listed on NASDAQ as LSAK and JSE as LSK, offers various financial services to both merchants and consumers, emphasizing affordability and accessibility for underserved sectors.
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