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Lesaka Technologies, Inc. (LSAK) reported results for Q4 and full year FY2026, delivering on all guidance metrics, exceeding its Adjusted EPS range and achieving its first full-year GAAP profitability since the business was reshaped in 2022. FY2026 revenue was $721.6 million, up 1.7% year-on-year, while Net Revenue rose 20% to $374.9 million.
Operating income improved from a loss of $28.0 million in FY2025 to income of $12.7 million, and net income attributable to Lesaka swung from a $91.0 million loss to a $2.8 million profit$75.7 million, and Adjusted earnings per share rose to $0.39 from $0.12. Q4 FY2026 results showed continued momentum, with Net Revenue up 8% and Adjusted EPS tripling to $0.15.
Consumer and Enterprise segments delivered strong growth, while Merchant revenue declined. Management issued FY2027 guidance in ZAR that implies further growth in Net Revenue, Group Adjusted EBITDA and Adjusted EPS and includes the impact of the pending Bank Zero acquisition, subject to regulatory approvals. Lesaka also disclosed immaterial revisions to prior-period tax and equity presentation errors, which have been corrected in its FY2026 Form 10-K.
Lesaka Technologies, Inc. (LSAK) reports on a year of integration and growth across its Merchant, Consumer and Enterprise fintech segments in Southern Africa, while addressing significant internal-control challenges. The company focuses on underserviced markets, offering payments, banking, lending, insurance and prepaid utilities in a single ecosystem.
As of June 30, 2026, Lesaka served approximately 132,000 merchants and 2.1 million active consumers, with strong growth in consumer cross-sell, lending and insurance, and expanding Enterprise bill-pay and prepaid electricity volumes. Net debt to Group Adjusted EBITDA improved from 2.9x to 1.9x, meeting a 2.0x deleveraging target.
Management advanced portfolio simplification, exiting loss-making and legacy businesses, and continued regulatory progress on the proposed Bank Zero acquisition, expected to reshape funding via customer deposits. However, multiple material weaknesses in internal control over financial reporting led to immaterial misstatements, restated prior quarters and ongoing remediation efforts, which may weigh on investor confidence.
Lesaka Technologies Inc (LSAK) is the issuer of common shares that IFC African, Latin American and Caribbean Fund, LP plans to sell under Rule 144. The fund has filed to sell up to 857,362 common shares through J.P. Morgan Securities LLC on the Nasdaq Global Select Market. These shares were originally acquired on May 11, 2016 in a private placement by Lesaka. Lesaka reported 85,736,223 common shares outstanding as of May 4, 2026; this is a baseline figure, not the amount being sold. The notice also lists multiple sales of Lesaka common shares by the fund during June–August 2026, including several individual transactions exceeding 90,000 shares.
Lesaka Technologies, Inc. shareholders approved a stock option grant to Executive Chairman Ali Mazanderani. The award covers 1,000,000 options to acquire common shares at an exercise price of US$5.00 per share. The options vest on April 1, 2028, subject to his continuous employment, may be exercised only after April 1, 2029, and expire on April 1, 2030. There is no automatic acceleration of vesting on termination of employment, death, disability or change in control. Shareholders voted 38,334,363 for, 1,241,298 against and 7,796,947 abstaining to approve the grant for purposes of Nasdaq Listing Rule 5635(c). The award is subject to Lesaka’s clawback policy and allows multiple exercise methods, including cash, stock tender, broker-assisted cashless and net exercise.
Lesaka Technologies, Inc. received an amended ownership report showing that Apis Growth 13 Limited and its directors, Mr. Sattish Lalljee and Mr. Xie Fei Pang Wong Lin, collectively report 1,719,368 shares of common stock as beneficially owned. Based on 85,736,223 shares of common stock outstanding as of May 4, 2026, this represents 2.1% of the class. Apis Growth 13 Limited is organized in Mauritius, and both individuals are citizens of Mauritius. The filing states sole voting and dispositive power over these shares and confirms ownership of 5 percent or less of Lesaka’s common stock.
Lesaka Technologies, Inc. extended Executive Chairman Ali Mazanderani’s employment agreement, originally effective February 1, 2024, so that it now expires on June 30, 2029, with all other terms unchanged. His commitment is set at fifty percent (50%) of full-time equivalence, with an annual base salary of $600,000, no eligibility for any short-term cash incentive award or other bonus program, no severance benefits, and a three-month mutual notice requirement for termination before June 30, 2029 absent cause or material breach.
Lesaka Technologies Proprietary Limited entered into a separate South African employment agreement with Mr. Mazanderani effective July 1, 2026 through June 30, 2028, which may be extended by written agreement to June 30, 2029. This contract provides an annual base salary of ZAR 5,000,000 and covers business travel costs up to ZAR 4,000,000 per financial year, while also excluding eligibility for short-term cash incentive awards or other bonus programs.
Lesaka Technologies has called a special shareholder meeting to approve a one-time stock option grant for Executive Chairman Ali Mazanderani under Nasdaq Listing Rule 5635(c). The Option Award covers 1,000,000 options to buy common stock at $5.00 per share, above the market price on the May 12, 2026 board approval date.
The options vest only if he remains employed through April 1, 2028, and can be exercised between April 1, 2029 and April 1, 2030. There is no acceleration on termination, death, disability or change in control if vesting has not occurred. If shareholders do not approve the agreement, the award is automatically forfeited.
As of the record date, Lesaka had 85,796,794 shares outstanding and Mazanderani beneficially owned 2,948,538 shares, plus vested options from prior awards. If he exercised both this new award and his existing options in full, his ownership would represent about 8.7% of outstanding shares. The company estimates grant-date fair value of the new award at about $1.6 million, with expected stock-based compensation expense of $0.9 million in the year ending June 30, 2027 and $0.7 million in 2028.
Lesaka Technologies, Inc. is asking shareholders to approve a 1,000,000 share option award to Executive Chairman Ali Mazanderani under a Share Option Agreement. The option has an exercise price of $5.00 per share, vests only if Mr. Mazanderani remains employed through April 1, 2028, is exercisable after April 1, 2029 and expires on April 1, 2030
The Board approved the award on May 12, 2026 and is seeking shareholder approval to comply with Nasdaq Listing Rule 5635(c); if shareholders do not approve, the award will be forfeited. The proxy discloses that 85,796,794 shares were outstanding as of the record date and that, on that date, Mr. Mazanderani beneficially owned 2,948,538 shares and held prior exercisable options and awards. The filing includes grant-date valuation detail: a $1.6 million grant-date fair value and projected stock-based compensation charges of $0.9 million and $0.7 million for the fiscal years ending June 30, 2027 and 2028, respectively.
International Finance Corporation and affiliated funds updated their ownership in Lesaka Technologies through an Amendment No. 5 to Schedule 13D. IFC reports beneficial ownership of 3,271,862 common shares, or 3.82% of the company, and IFC Financial Institutions Growth Fund reports 3,302,551 shares, or 3.85%.
IFC African, Latin American and Caribbean Fund reports beneficial ownership of 1,856,263 shares, or 2.17%. These percentages are based on 85,736,223 Lesaka shares outstanding as of May 4, 2026. ALAC disposed of 671,112 shares in market sales between March 18 and June 17, 2026 for an aggregate of $3,307,215, at weighted average prices generally around $4.7–$5.4 per share.
Lesaka Technologies, Inc. reports an amendment to the timetable for a previously announced acquisition. Its subsidiary, Lesaka Technologies Proprietary Limited, had signed a Transaction Implementation Agreement to acquire interests in Bank Zero Mutual Bank and related entities. The parties have now agreed to extend the deadline to fulfill or waive remaining conditions precedent from August 6, 2026 to January 31, 2027 while outstanding regulatory consents are obtained.