LESAKA TECHNOLOGIES INC (LSAK): auditor change — Lesaka Q3 rev +281% to $134M; Adj EBITDA turns positive $7.6M; auditor change

LESAKA TECHNOLOGIES INC

2023-Q3 EPS reported -$0.37 revenue$394,822,000

Revenue $134.0M (+281% YoY) driven by Connect Group acquisition; net loss $5.8M vs $3.3M loss YoY.
Group Adjusted EBITDA $7.6M vs loss of $7.2M in Q3 2022, within guidance.
Merchant Division Segment Adj EBITDA $8.3M; Consumer Division turned profitable with $1.6M.
FY2023 guidance reaffirmed; operating loss narrowed 81% to $1.9M.
Auditor change: KPMG appointed for FY2024 replacing Deloitte due to SA mandatory rotation rule; no disagreements.

item 2.02 item 4.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Auditor Changes SEC 8-K Item 4.01/4.02 confidence 0.9

LESAKA TECHNOLOGIES INC engaged KPMG Inc. as its auditor.

Action: engagement
Auditor: KPMG Inc.

Exact text from the filing

On May 9, 2023, Lesaka's Audit Committee appointed, and the Company engaged, KPMG Inc. (" KPMG ") in South Africa, an independent accountant, as its certifying accountant beginning July 1, 2023, the first day of Lesaka's 2024 fiscal year.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LESAKA TECHNOLOGIES INC reported third quarter ended March 31, 2023 results: revenue $134.0 million, net income Net loss attributable to Lesaka of $5.8 million, EPS $(0.09). Guidance reaffirmed.

Period: third quarter ended March 31, 2023
Revenue: $134.0 million
Net income: Net loss attributable to Lesaka of $5.8 million
EPS: $(0.09)
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Lesaka Reports Third Quarter 2023 Results - Continued improvement in financial performance further evidences successful turnaround JOHANNESBURG, May 9, 2023 - Lesaka Technologies, Inc. (Nasdaq: LSAK; JSE: LSK) today released results for the third quarter ended March 31, 2023 ("Q3 2023") Performance Highlights for Q3 2023 : Revenue of $134.0 million (ZAR 2.4 billion) 1 in Q3 2023, compared to $35.2 million (ZAR 549.8 million) 1 for the quarter ended March 31, 2022 ("Q3 2022"), with the 381% increase largely as a result of the inclusion and continued outperformance of the Connect Group (including Kazang) and momentum in the successful turnaround of the Consumer Division. Net loss attributable to Lesaka of $5.8 million (ZAR 104.4 million) 1 in Q3 2023, compared to $3.3 million (ZAR 51.9 million) 1 in Q3 2022. Operating income (loss) before PPA amortization and net interest, a non-GAAP measure and reconciled in Attachment B, was income of $1.9 million (ZAR 34.0 million) 1 in Q3 2023, compa

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Source: SEC EDGAR

accession 0001062993-23-010569

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