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Lesaka Technologies, Inc. reports developments tied to its South African fintech platform for Southern Africa's underserviced consumers and merchants. The company provides transactional accounts, lending, insurance, merchant acquiring, cash management, software and Alternative Digital Products, with targeted payment integrations across consumers, merchants and enterprises.
Recurring news includes quarterly and annual financial results, webcast and conference-call notices, capital-structure disclosures and operating updates across the Merchant, Consumer and Enterprise activities. Company updates also reflect its primary NASDAQ listing under LSAK and secondary Johannesburg Stock Exchange listing under LSK.
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.
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.