LESAKA TECHNOLOGIES INC (LSAK): auditor change — Lesaka Technologies restates Q1-Q3 FY2025 financials due to revenue classification error

LESAKA TECHNOLOGIES INC

Unaudited quarterly statements for Sep 30, Dec 31, 2024, and Mar 31, 2025 are restated; prior filings should no longer be relied upon.
Revenue and cost of goods sold will increase; operating income, net loss, EPS, and cash flows are unchanged.
Error caused by subsidiary's misinterpretation of ASC 606 for certain voucher sales; classified as agent instead of principal.
Audit committee concluded restatement after consulting with management and KPMG; internal control evaluation ongoing.
Company may need to restate additional periods if other agreements are re-evaluated.

item 4.02 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 reported that prior financial statements should not be relied upon.

Action: non reliance

Exact text from the filing

should be restated, and that such unaudited condensed financial statements should no longer be relied upon

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Source: SEC EDGAR

accession 0001062993-25-015498

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