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LESAKA TECHNOLOGIES INCLESAKA TECHNOLOGIES INCLESAKA TECHNOLOGIES INC

LESAKA TECHNOLOGIES INC

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Our opinion on the current state of LESAKA(LSK)Previously known as Net1 UEP Technologies, Lesaka is listed on the Nasdaq and the JSE (LSK). It is a provider of fintech products in a number of countries. Its universal electronic payment system (UEPS) uses biometrically secure smart cards that operate in real-time but offline, which allows users to enter into transactions at any time. In its results for the year to 30th June 2024, the company reported revenue up 11% and a net loss of R326.1m compared with a loss of R629.2m in the previous period. The company said, "Fundamental earnings per share (a non-GAAP measure) of $0.06 (ZAR 1.06), improved ZAR 3.72, compared to a fundamental loss per share of $0.15 (ZAR 2.66) in FY 2023. Merchant Division revenue increased 12% in ZAR to $498.3 million (ZAR 9.3 billion), and Segment Adjusted EBITDA increased 4% in ZAR to $33.4 million (ZAR 624.1 million)." In an update on the 1st quarter to 30th September 2024, the company reported revenue of R2.6bn and a loss of 126c per share. The company said, "Net loss, including $1.7 million (ZAR 30.0 million) of one-off Adumo transaction costs, improved 23% in ZAR, to a net loss of $4.5 million (ZAR 81.0 million) in Q1 2025." The share trades R69,000 worth of shares on average every day, and there are days when there is no trade at all. On 5th December 2023, the company announced that Chris Meyer would step down as CEO in February 2024. On 6th February 2024, the company announced that it had acquired Touchsides, a distributor of alcohol to shebeens and informal taverns. On 2nd October 2024, the company announced the acquisition of the fintech company, Adumo, for R1.67bn in cash and shares. On 20th November 2024, the company announced that it had acquired the prepaid electricity submetering and payments business, Recharger, for R507m.
JSE:LSK
by PDSnetSA
Our opinion on the current state of LESAKA(LSK)Previously known as Net1 UEP Technologies, Lesaka is listed on the Nasdaq and the JSE (LSK). It is a provider of fintech products in a number of countries. Its universal electronic payment system (“UEPS”) uses biometrically secure smart cards that operate in real-time but offline, which allows users to enter into transactions at any time. In its results for the year to 30th June 2024, the company reported revenue up 11% and a net loss of R326.1m compared with a loss of R629.2m in the previous period. The company said, "Fundamental earnings per share (a non-GAAP measure) of $0.06 (ZAR 1.06), improved ZAR 3.72, compared to a fundamental loss per share of $0.15 (ZAR 2.66) in FY 2023. - Merchant Division revenue increased 12% in ZAR to $498.3 million (ZAR 9.3 billion) and Segment Adjusted EBITDA increased 4% in ZAR to $33.4 million (ZAR 624.1 million)." The share trades R245,000 worth of shares on average every day, but there are days when there is no trade at all. On 5th December 2023, the company announced that Chris Meyer will step down as CEO in February 2024. On 6th February 2024, the company announced that it had acquired Touchsides, a distributor of alcohol to shebeens and informal taverns. On 2nd October 2024, the company announced the acquisition of the fintech company, Adumo, for R1.67bn in cash and shares.
JSE:LSK
by PDSnetSA
Our opinion on the current state of LESAKA(LSK)Lesaka (previously known as Net1 UEP Technologies), listed on the Nasdaq and JSE (LSK), is a fintech company offering payment solutions across multiple countries. Their Universal Electronic Payment System (UEPS) provides biometrically secure smart cards that facilitate real-time, offline transactions, enabling users to transact at any moment. In the third quarter ending on 31st March 2024, Lesaka reported revenue of R2.6 billion, an increase from R2.4 billion in the previous quarter, alongside a net loss of R76.4 million. They noted, "Fundamental earnings per share (a non-GAAP measure), positive for a second successive quarter, increased to $0.02 (ZAR 0.45)(1) compared to a fundamental loss per share of $0.02 (ZAR 0.35)(1) in Q3 2023." Despite trading an average of R21,000 worth of shares daily, the company occasionally experiences days without trading activity. On 5th December 2023, they announced that Chris Meyer would step down as CEO in February 2024. Shortly after, on 6th February 2024, Lesaka acquired Touchsides, a distributor of alcohol to shebeens and informal taverns.
JSE:LSK
by PDSnetSA
Our opinion on the current state of LSKFormerly known as Net1 UEP Technologies, Lesaka is now listed on both the Nasdaq and the Johannesburg Stock Exchange (JSE) under the ticker LSK. The company specializes in offering fintech products across several countries. Its unique selling proposition is the universal electronic payment system (UEPS), which employs biometrically secure smart cards capable of real-time but offline transactions, enabling users to conduct transactions at any moment. For the quarter ending on 30th September 2023, Lesaka reported a 19% increase in revenue (measured in rands) and a net loss of R106.6 million, which shows an improvement from the previous period's loss of R183.2 million. The company highlighted a significant enhancement in its financial performance, stating, "Group Adjusted EBITDA, a non-GAAP measure and reconciled in Attachment B, of $8.7 million (ZAR 162.5 million) representing an improvement of 108% compared to the Q1 2023 Group Adjusted EBITDA of $4.2 million (ZAR 71.9 million). In ZAR, Group Adjusted EBITDA increased by 126%." The trading volume of Lesaka's shares averages around R4.3 million daily, although there are days when no trading activity is recorded. On 5th December 2023, the company announced a significant leadership change with Chris Meyer set to resign as CEO in February 2024. Further expanding its operations, on 6th February 2024, Lesaka disclosed its acquisition of Touchsides, a distributor of alcohol to shebeens and informal taverns, marking another stride in its business expansion.
JSE:LSK
by PDSnetSA
Our opinion on the current state of LSKPreviously known a Net1 UEP Technologies, Lesaka is listed on the Nasdaq and the JSE (LSK). It is a provider of fintech products in a number of countries. Its universal electronic payment system (“UEPS”) uses biometrically secure smart cards that operate in real-time but offline, which allows users to enter into transactions at any time. In the first quarter to 30th September 2023 the company reported revenue up 19% in rands and a net loss of R106,6m compared with a loss of R183,2m in the previous period. The company said, "Group Adjusted EBITDA, a non-GAAP measure and reconciled in Attachment B, of $8.7 million (ZAR 162.5 million) 1 representing an improvement of 108% compared to the Q1 2023 Group Adjusted EBITDA of $4.2 million (ZAR 71.9 million)1. In ZAR Group Adjusted EBITDA increased by 126%". The share trades R4,3m worth of shares on average every day, but there are days when there is no trade at all. On 5th December 2023 the company announced that Chis Meyer will step down as CEO in February 2024.
JSE:LSK
by PDSnetSA
Our opinion on the current state of LSKPreviously known a Net1 UEP Technologies, Lesaka is listed on the Nasdaq and the JSE (LSK). It is a provider of fintech products in a number of countries. Its universal electronic payment system (“UEPS”) uses biometrically secure smart cards that operate in real-time but offline, which allows users to enter into transactions at any time. In the first quarter to 30th September 2023 the company reported revenue up 19% in rands and a net loss of R106,6m compared with a loss of R183,2m in the previous period. The company said, "Group Adjusted EBITDA, a non-GAAP measure and reconciled in Attachment B, of $8.7 million (ZAR 162.5 million) 1 representing an improvement of 108% compared to the Q1 2023 Group Adjusted EBITDA of $4.2 million (ZAR 71.9 million)1. In ZAR Group Adjusted EBITDA increased by 126%". The share trades R4,3m worth of shares on average every day, but there are days when there is no trade at all.
JSE:LSK
by PDSnetSA
Our opinion on the current state of LSKPreviously known a Net1 UEP Technologies, Lesaka is listed on the Nasdaq and the JSE (LSK). It is a provider of fintech products in a number of countries. Its universal electronic payment system (“UEPS”) uses biometrically secure smart cards that operate in real-time but offline, which allows users to enter into transactions at any time. In its results for the year to 30th June 2022 the company reported revenue up 70% due to the inclusion of Connect from 14th April. The company said, "The Group’s operating loss of $40.2 million for the year reflects a 25% improvement compared to the operating loss of $53.9 million reported for the year ended June 30, 2021". On 20th September 2022 the company published guidance for its 2023 year projecting revenue of between $565m and $600m with earnings before interest, taxation depreciation and amortisation (EBITDA) of between FWB:31M and $34m. The company said, "Strong fundamentals that underpin the growth of Connect remain unchanged. FY22 revenue in the pre-existing Lesaka Merchant business benefited from large one- off sales during the year, due to a catch up on back-order fulfilment in the POS division as a result of the global chip shortage". In a report on the quarter to 30th September 2022 the company said that revenue was up 262% and the company made a loss of 8c (US) per share compared with a loss of 22c in the comparable quarter. The company said, "Segment Adjusted EBITDA for Q1 2023 improved to income of ZAR 111 million ($6.5 million) compared to a loss of ZAR 106 million ($7.3 million) in Q1 2022. • Our operating loss of $4.7 million (ZAR 80 million)1 in Q1 2023 improved significantly from an operating loss of $11.2 million (ZAR 164 million)1 for Q1 2022". In a report on its second quarter the company reported revenue 4% above guidance and an operating loss of $2,2m compared with a loss of $9,4m in the previous period. The company said it had, ..."positive net cash provided by operating activities of $3.4 million (ZAR 59.9 million) in Q2 2023, compared to an outflow of $13.8 million (ZAR 212.0 million) in Q2 2022". In a report on its 3rd quarter to 1st March 2023 the company said, "Group Adjusted EBITDA of $7.6 million (ZAR 137.1 million) 1, within guidance, and a significant improvement compared to the Q3 2022 reported Group Adjusted EBITDA loss of $7.2 million (ZAR 112.7 million)1". In a report on the 4th quarter the company said, "The significant financial turnaround is demonstrated by a narrowing of the net loss to $11.9 million". The share is thinly traded with many days when there is no trade at all which makes it risky for private investors.
JSE:LSK
by PDSnetSA