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Lesaka’s Q1 FY2026 Results: Lesaka achieves Q1 FY2026 guidance and reaffirms FY2026 outlook
Lesaka Technologies, Inc.
Registered in the state of Florida, USA
(IRS Employer Identification No. 98-0171860)
Nasdaq share code: LSAK
JSE share code: LSK
LEI: 529900J4IZMWV4RDEB07
ISIN: US64107N2062
("Lesaka," or the "Company")
Lesaka's Q1 FY2026 Results: Lesaka achieves Q1 FY2026 guidance and reaffirms FY2026 outlook
JOHANNESBURG, November 6, 2025 – Lesaka (Nasdaq: LSAK; JSE: LSK) today released results for the first quarter of fiscal 2026
("Q1 2026").
Q1 2026 performance1:
All growth rates are year-on-year between Q1 FY2026 and Q1 FY2025.
- Revenue of $171.5 million (ZAR 3.0 billion) up 10% in ZAR.
- Net Revenue2 of $86.6 million (ZAR 1.5 billion), up 45% in ZAR.
- Operating Income of $0.4 million (ZAR 6.7 million), improved from a loss of $0.1 million (ZAR 0.3 million).
- Net Loss of $4.3 million (ZAR 75.9 million), improved 6% in ZAR.
- Group Adjusted EBITDA2 of $15.3 million (ZAR 270.6 million), up 61% in ZAR, achieving guidance provided.
- Basic loss per share of $0.05 (ZAR 0.93), improving 26% in ZAR.
- Adjusted earnings2 of $5.0 million (ZAR 87.3 million), up 150% in ZAR.
- Adjusted earnings per share2 of $0.06 (ZAR 1.07), up 97% in ZAR.
- Merchant Segment Revenue of $127.0 million (ZAR 2.2 billion). Merchant Segment Net Revenue2 of $44.4 million (ZAR
782.8 million), up 43% in ZAR. Merchant Segment Adjusted EBITDA 2 of $9.2 million (ZAR 162.1 million), up 20% in ZAR.
- Consumer Segment Revenue of $30.6 million (ZAR 539.0 million), up 43% in ZAR. Consumer Segment Adjusted
EBITDA2 of $8.5 million (ZAR 149.7 million), up 90% in ZAR.
- Enterprise Segment Revenue of $14.9 million (ZAR 261.9 million). Enterprise Segment Net Revenue2 of $12.6 million
(ZAR 221.6 million), up 19% in ZAR. Enterprise Segment Adjusted EBITDA 2 of $1.3 million (ZAR 22.4 million), up 241%
in ZAR.
(1) Average exchange rates applicable for the purpose of translating our results of operations: ZAR 17.67 to $1 for Q1
2026, ZAR 17.72 to $1 for Q1 2025.
(2) Non-GAAP measure. Refer to Attachment A of press release for full reconciliation of non-GAAP measures.
Outlook: Second Quarter 2026 ("Q2 FY2026") and Full Fiscal Year 2026 ("FY 2026") 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 Q2 FY2026, the quarter ending December 31, 2025, we expect:
- Net Revenue between ZAR 1.575 billion and ZAR 1.725 billion.
- Group Adjusted EBITDA between ZAR 280 million and ZAR 320 million
For FY2026, the year ending June 30, 2026, we reaffirm:
- Net Revenue between ZAR 6.4 billion and ZAR 6.9 billion
- Group Adjusted EBITDA between ZAR 1.25 billion and ZAR 1.45 billion
- Net Income Attributable to Lesaka to be positive.
- Adjusted earnings per share of at least ZAR 4.60, implying a year-on-year growth of greater than 100%.
Our FY2026 guidance excludes the impact of the announced acquisition of Bank Zero (which is subject to regulatory approvals
and other customary closing conditions) and any unannounced mergers and acquisitions that we may conclude.
Management has provided its outlook regarding Net Revenue, Group Adjusted EBITDA and Adjusted earnings per share, which
are non-GAAP financial measures and excludes certain revenue and charges. Management has not reconciled these non-GAAP
financial measures to the corresponding GAAP financial measures because guidance for the various reconciling items is not
provided. Management is unable to provide guidance for these reconciling items because they 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 measure are not
available without unreasonable effort.
Earnings Presentation for Q1 2026 Results
Our earnings presentation will be posted to the Investor Relations page of our website prior to our earnings call.
Webcast and Conference Call
Lesaka will host a presentation webcast and conference call on November 6, 2025, at 8:00am EDT (3:00pm SAST), followed by
a live question and answer session for analysts and investors.
Webcast Registration
Link to access the results webcast: https://www.corpcam.com/Lesaka06112025
Participants using the webcast will be able to submit questions during the live Question and Answer session.
Conference call dial-in via Chorus Call:
Link to register:
https://services.choruscall.eu/DiamondPassRegistration/register?confirmationNumber=5108813&linkSecurityString=c4c518
1c7
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.
Our Form 10-Q for the quarter ended September 30, 2025, as filed with the SEC, is available on our company website at
www.lesakatech.com.
Headline earnings (loss) per share ("HEPS")
The inclusion of H(L)EPS in this results announcement is a requirement of our listing on the JSE. H(L)EPS basic and diluted is
calculated using net (loss) income which has been determined based on GAAP. Accordingly, this may differ to the headline
(loss) earnings per share calculation of other companies listed on the JSE as these companies may report their financial results
under a different financial reporting framework, including but not limited to, International Financial Reporting Standards.
The table below presents our HEPS for Q1 2026 and 2025:
Q1 Q1
2026 2025
Net loss used to calculate headline earnings (USD'000) ........................................................... (3,735) (4,562)
Headline (loss) earnings per share: ..............................................................................
Basic, in USD .................................................................................................. (0.05) (0.07)
Diluted, in USD................................................................................................. (0.05) (0.07)
Results announcement released in the US and unaudited condensed consolidated financial statements
The full results announcement released in the U.S. and our unaudited condensed consolidated financial statements are
available at https://senspdf.jse.co.za/documents/2025/JSE/ISSE/LSKE/Q1Res2026.pdf and have been published on Lesaka's
website at www.lesakatech.com. Any investment decision by investors and/or shareholders should be based on consideration
of the U.S. results announcement and its recently published unaudited condensed consolidated financial statements.
About Lesaka Technologies Inc. (www.lesakatech.com)
Lesaka operates a South African fintech company driven by a purpose to provide financial services, software and other business
services to Southern Africa's underserviced consumers and merchants. We offer an integrated and holistic multiproduct
platform that provides transactional accounts, lending, insurance, merchant acquiring, cash management, software and
Alternative Digital Products ("ADP"). We provide targeted solutions and integrations to facilitate payments between consumers,
merchants, and enterprises. By providing a full-service fintech platform in our connected ecosystem, we facilitate the
digitization of commerce in our markets.
Lesaka has a primary listing on NASDAQ (NASDAQ:LSAK) and a secondary listing on the Johannesburg Stock Exchange (JSE:
LSK). Visit www.lesakatech.com for additional information about Lesaka.
Forward-Looking Statements
This press release contains certain statements that may be considered forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended,
and such statements are subject to the safe harbor created by those sections and the Private Securities Litigation Reform Act
of 1995, as amended. Such statements may be identified by their use of terms or phrases such as "expects," "estimates,"
"projects," "believes," "anticipates," "plans," "could," "would," "may," "will," "intends," "outlook," "focus," "seek,"
"potential," "mission," "continue," "goal," "target," "objective," derivations thereof, and similar terms and phrases. Forward-
looking statements are based upon the current beliefs and expectations of our management and are inherently subject to risks
and uncertainties, some of which cannot be predicted or quantified, which could cause future events and actual results to differ
materially from those set forth in, contemplated by, or underlying the forward-looking statements. In this press release,
statements relating to future financial results and future financing and business opportunities are forward-looking statements.
Additional information concerning factors that could cause actual events or results to differ materially from those in any
forward-looking statement is contained in our Form 10-K for the fiscal year ended June 30, 2025, as filed with the SEC, as well
as other documents we have filed or will file with the SEC. We assume no obligation to update the information in this press
release, to revise any forward-looking statements or to update the reasons actual results could differ materially from those
anticipated in forward-looking statements.
Investor Relations and Media Relations Contacts:
Phillipe Welthagen
Email: phillipe.welthagen@lesakatech.com
Mobile: +27 84 512 5393
Idris Dungarwalla
Email: idris.dungarwalla@lesakatech.com
Mobile: +44 786 225 4852
Akash Dowra
Email: akash.dowra@lesaktech.com
Mobile: +27 83 235 9750
Media Relations Contact:
Ian Harrison
Email: Ian@thenielsennetwork.com
Johannesburg
November 6, 2025
Sponsor:
Rand Merchant Bank, a division of FirstRand Bank Limited
Date: 06-11-2025 07:05:00
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