JOHANNESBURG, South Africa, Sept. 09, 2026 (GLOBE NEWSWIRE) -- Lesaka Technologies, Inc. (Nasdaq: LSAK; JSE: LSK) today released results for the fourth quarter ("Q4 2026") and full year of fiscal 2026 ("FY2026").
FY2026 performance(1) :
All growth rates are year-on-year between FY2026 and fiscal year 2025 ("FY2025").
USD (In thousands,
except per share ZAR (In thousands,
Group Level data) except per share data)
FY26 FY25 FY26 FY25 YoY%
------- ----------- ---------- ----------- -------
Revenue 721,554 659,701 12,180,962 11,980,399 1.7%
Net Revenue((2) 374,873 291,241 6,325,012 5,291,353 20%
Operating Income
(Loss)((3) 12,681 (27,966) 208,496 (496,573) nm
Net Income
(Loss)
attributable to
Lesaka((3) 2,758 (90,957) 39,838 (1,645,521) nm
Group Adjusted
EBITDA(2)(3) 75,742 49,822 1,274,588 906,573 41%
Basic Earnings
(Loss) per
Share((3) 0.03 (1.19) 0.51 (20.12) nm
Adjusted
Earnings(2)(3) 32,232 9,124 539,279 163,752 229%
Adjusted
Earnings per
Share(2)(3) 0.39 0.12 6.51 2.10 210%
---------------- ------- ------- ---------- ---------- ---
USD ZAR
Segment Level (In thousands) (In thousands)
FY26 FY25 FY26 FY25 YoY%
------- ----------- ---------- ----------- -------
Merchant
Revenue 509,335 526,600 8,609,898 9,562,360 (10%)
Net Revenue((2) 183,233 164,846 3,096,246 2,995,106 3%
Segment Adjusted
EBITDA((3) 35,533 35,329 601,573 641,509 (6%)
Consumer
Revenue 142,631 96,008 2,401,720 1,744,429 38%
Segment Adjusted
EBITDA 46,193 23,949 775,027 435,193 78%
Enterprise
Revenue 74,730 42,554 1,255,617 773,057 62%
Net Revenue((2) 54,151 35,848 913,319 651,265 40%
Segment Adjusted
EBITDA 8,119 1,287 136,164 23,724 474%
---------------- ------- ------- ---------- ---------- ---
(1) Average exchange rates for FY2026 and for FY2025 were ZAR 16.91 to $1 and ZAR 17.90 to $1, respectively.
(2) Non-GAAP measure. Refer to Attachment A of press release for full reconciliation of non-GAAP measures.
(3) Revised FY2025 amounts to correct the errors discussed in Note 1 of our Form 10-K for the year ended June 30, 2026. Also refer to Immaterial revision of prior period information section below.
Q4 2026 performance(1) :
All growth rates are calculated on a year-on-year basis between Q4 2026 and the fourth quarter of FY2025 ("Q4 2025").
USD (In thousands,
except per share ZAR (In thousands,
Group Level data) except per share data)
Q4 FY26 Q4 FY25 Q4 FY26 Q4 FY25 YoY%
------- ------------ --------- ------------- -------
Revenue 188,321 168,467 3,104,689 3,080,538 0.8%
Net Revenue((2) 98,496 82,005 1,623,810 1,498,721 8%
Operating
Income((3) 6,309 (28,610) 104,071 (509,603) nm
Net Income
(Loss)
attributable to
Lesaka(3) 3,219 (31,298) 52,895 (559,721) nm
Group Adjusted
EBITDA(2)(3) 22,258 16,509 366,855 301,768 22%
Basic Earnings
(Loss) per
Share((3) 0.04 (0.39) 0.66 (6.97) nm
Adjusted
Earnings(2)(3) 12,072 4,057 198,709 74,695 166%
Adjusted
Earnings per
Share(2)(3) 0.15 0.05 2.40 0.90 166%
---------------- ------- -------- --------- --------- ---
USD ZAR
Segment Level (In thousands) (In thousands)
Q4 FY26 Q4 FY25 Q4 FY26 Q4 FY25 YoY%
------- ------------ --------- ------------- -------
Merchant
Revenue 123,388 128,958 2,034,628 2,358,795 (14%)
Net Revenue((2) 44,199 44,396 728,804 811,626 (10%)
Segment Adjusted
EBITDA((3) 7,421 10,010 122,404 182,890 (33%)
Consumer
Revenue 40,614 27,911 669,465 509,834 31%
Segment Adjusted
EBITDA 15,375 8,878 253,338 161,880 56%
Enterprise
Revenue 26,103 12,295 430,005 224,649 91%
Net Revenue((2) 15,467 10,395 254,950 190,001 34%
Segment Adjusted
EBITDA 3,302 823 54,394 15,309 255%
---------------- ------- -------- --------- --------- ---
(1) Average exchange rates for Q4 2026 and for Q4 2025 were ZAR 16.49 to $1 and ZAR 17.87 to $1, respectively.
(2) Non-GAAP measure. Refer to Attachment A of press release for full reconciliation of non-GAAP measures.
(3) Revised Q4 FY2025 amounts to correct the errors discussed in Note 1 of our Form 10-K for the year ended June 30, 2026. Also refer to Immaterial revision of prior period information section below.
Commenting on the results, Lesaka Executive Chairman Ali Mazanderani said, "I am delighted that Lesaka delivered on all of its FY2026 guidance metrics, exceeded the top end of our Adjusted EPS guidance range and achieved full-year GAAP profitability for the first time since Lesaka was effectively created in 2022. FY2026 was a milestone year for Lesaka, and we enter FY2027 with real momentum and a platform built for strong, sustainable growth. Looking ahead, I am pleased to share our medium-term ambitions, which includes Adjusted EPS CAGR in excess of 40% over the next three years."
Outlook: First Quarter 2027 ("Q1 2027") and Full Fiscal Year 2027 ("FY 2027") guidance
While we report our financial results in USD, we measure our operating performance in ZAR, and as such we provide our guidance accordingly.
For FY2027, the year ending June 30, 2027, we expect:
-- Net Revenue between ZAR 7.0 billion and ZAR 7.7 billion -- Group Adjusted EBITDA between ZAR 1.45 billion and ZAR 1.60 billion -- Adjusted earnings per share between ZAR 7.50 and ZAR 8.50
For Q1 FY2027, the quarter ending September 30, 2026, we expect:
-- Net Revenue between ZAR 1.58 billion and ZAR 1.66 billion -- Group Adjusted EBITDA between ZAR 200 million and ZAR 240 million -- Adjusted earnings per share between ZAR 0.40 and ZAR 0.60
Q1 FY2027 guidance reflects both seasonality and expected once-off restructuring costs in the merchant business. FY2027 guidance includes the impact of the pending Bank Zero acquisition (subject to regulatory approval by the Financial Surveillance Department of the South African Reserve Bank and other customary closing conditions) and excludes any unannounced mergers and acquisitions that we may conclude.
We have provided outlook regarding Net Revenue, Group Adjusted EBITDA and Adjusted earnings per share, which are non-GAAP financial measures and exclude certain revenue and charges. We have not reconciled these non-GAAP financial measures to the corresponding GAAP financial measures because guidance for the various reconciling items is not provided. We are unable to provide guidance for these reconciling items because we cannot determine their probable significance, as certain items are outside of the control of Lesaka and cannot be reasonably predicted since these items could vary significantly from period to period. Accordingly, reconciliations to the corresponding GAAP financial measures are not available without unreasonable effort.
Earnings Presentation for Q4 FY2026 Results
Our earnings presentation will be posted to the Investor Relations page of our website prior to our earnings call.
Webcast Registration
Link to access the results webcast: https://www.corpcam.com/Lesaka10092026
Participants using the webcast will be able to submit questions during the live Question and Answer session. Link to conference call dial-in registration via Chorus Call:
https://services.choruscall.it/DiamondPassRegistration/register?confirmationNumber=7689509&linkSecurityString=174b56677f
Dial in details and individual pin to be provided on registration. Participants using the conference call dial-in will be able to ask their questions during the live Question and Answer session.
Following the presentation, an archived version of the webcast will be provided on Lesaka's Investor Relations website.
Immaterial revision of prior period information
While preparing our Annual Report on Form 10-K for the year ended June 30, 2026, we determined that certain intercompany transactions processed in previous periods were incorrectly recorded, and which resulted in the incorrect amount of deferred income taxes recorded in our consolidated balance sheet, consolidated statements of operations, consolidated statement of comprehensive loss, consolidated statement of changes in equity, consolidated statement of cash flows and related notes to the consolidated financial statements included in our Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q since June 30, 2025, and these filings were incorrect.