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.
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.
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.