Lesaka Technologies Q3 2024 Update

Ticker: LSAK · Form: 10-Q · Filed: Nov 6, 2024 · CIK: 1041514

Lesaka Technologies INC 10-Q Filing Summary
FieldDetail
CompanyLesaka Technologies INC (LSAK)
Form Type10-Q
Filed DateNov 6, 2024
Risk Levelmedium
Pages15
Reading Time18 min
Key Dollar Amounts$0.001
Sentimentneutral

Sentiment: neutral

Topics: financials, quarterly-report, banking

TL;DR

Lesaka Tech's Q3 2024 filing shows ongoing operations, with key financial facilities like Nedbank and Asset Backed Facilities mentioned.

AI Summary

Lesaka Technologies Inc. reported its financial results for the quarter ended September 30, 2024. The company's filing indicates ongoing operations within its Consumer and Merchant segments, with specific mentions of "Processing Fees" and "Asset Backed Facility" as key financial components. The report also references "Nedbank Facilities" and "Derivative Facilities," suggesting complex financial arrangements.

Why It Matters

This filing provides insight into Lesaka Technologies' financial health and operational performance during the third quarter of 2024, which can influence investor decisions and market perception.

Risk Assessment

Risk Level: medium — The filing mentions various financial facilities and segments, indicating a potentially complex business structure with associated financial risks.

Key Numbers

Key Players & Entities

FAQ

What were the specific financial results for Lesaka Technologies Inc. for the quarter ended September 30, 2024?

The filing is a 10-Q, which provides financial information for the period ending September 30, 2024, but specific dollar amounts for revenue, profit, or loss are not detailed in the provided header information.

What is the primary business of Lesaka Technologies Inc. based on the SIC code?

The Standard Industrial Classification (SIC) code is 6099, which corresponds to 'Functions related to depository banking, nec'.

What former name was Lesaka Technologies Inc. known by?

Lesaka Technologies Inc. was formerly known as NET 1 UEPS TECHNOLOGIES INC, with a name change date of July 24, 2000.

What are the key segments mentioned in the filing for the period?

The key segments mentioned are the Consumer Segment, Merchant Segment, and Other Products and Services.

What financial facilities are specifically referenced in the filing?

The filing references Nedbank Facilities, Asset Backed Facility, and Derivative Facilities.

Filing Stats: 4,413 words · 18 min read · ~15 pages · Grade level 16.8 · Accepted 2024-11-06 16:15:23

Key Financial Figures

Filing Documents

Financial Statements

Financial Statements Unaudited Condensed Consolidated Balance Sheets as of September 30, 2024 and June 30, 2024 2 Unaudited Condensed Consolidated Statements of Operations for the three months ended September 30, 2024 and 2023 3 Unaudited Condensed Consolidated Statements of Comprehensive (Loss) Income for the three months ended September 30, 2024 and 2023 4 Unaudited Condensed Consolidated Statement of Changes in Equity for the three months ended September 30, 2024 and 2023 5 Unaudited Condensed Consolidated Statements of Cash Flows for the three months ended September 30, 2024 and 2023 7 Notes to Unaudited Condensed Consolidated Financial Statements 8 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 35 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 53 Item 4.

Controls and Procedures

Controls and Procedures 54

OTHER INFORMATION

Part II. OTHER INFORMATION Item 1A.

Risk Factors

Risk Factors 55 Item 5. Other Information 56 Item 6. Exhibits 57

Signatures

Signatures 58 EXHIBIT 2.2 EXHIBIT 39 EXHIBIT 40 EXHIBIT 41 2

Financial information

Part I. Financial information

Financial Statements

Item 1. Financial Statements LESAKA TECHNOLOGIES, INC. Unaudited Condensed Consolidated Balance Sheets September 30, June 30, 2024 2024 (A) (In thousands, except share data) ASSETS CURRENT ASSETS Cash and cash equivalents $ 49,687 $ 59,065 Restricted cash related to ATM funding and credit facilities (Note 8) 122 6,853 Accounts receivable, net and other receivables (Note 2) 29,825 36,667 Finance loans receivable, net (Note 2) 47,017 44,058 Inventory (Note 3) 20,194 18,226 Total current assets before settlement assets 146,845 164,869 Settlement assets 20,469 22,827 Total current assets 167,314 187,696 PROPERTY, PLANT AND EQUIPMENT, net of accumulated depreciation of - September: $ 50,532 June: $ 49,762 34,481 31,936 OPERATING LEASE RIGHT-OF-USE (Note 16) 7,411 7,280 EQUITY-ACCOUNTED INVESTMENTS (Note 5) 245 206 GOODWILL (Note 6) 146,577 138,551 INTANGIBLE ASSETS, NET (Note 6) 114,052 111,353 DEFERRED INCOME TAXES 3,734 3,446 OTHER LONG-TERM ASSETS, including equity securities (Note 5 and 7) 78,075 77,982 TOTAL ASSETS 551,889 558,450 LIABILITIES CURRENT LIABILITIES Short-term credit facilities for ATM funding (Note 8) - 6,737 Short-term credit facilities (Note 8) 9,895 9,351 Accounts payable 12,815 16,674 Other payables (Note 9) 45,923 56,051 Operating lease liability - current (Note 16) 2,600 2,343 Current portion of long-term borrowings (Note 8) 3,841 3,878 Income taxes payable 1,488 654 Total current liabilities before settlement obligations 76,562 95,688 Settlement obligations 19,899 22,358 Total current liabilities 96,461 118,046 DEFERRED INCOME TAXES 39,345 38,128 OPERATING LEASE LIABILITY - LONG TERM (Note 16) 4,968 5,087 LONG-TERM BORROWINGS (Note 8) 144,679 139,308 OTHER LONG-TERM LIABILITIES, including insurance policy liabilities (Note 7) 2,790 2,595 TOTAL LIABILITIES 288,243 303,164 REDEEMABLE COMMON STOCK 79,429 79,429 EQUITY COMMON STOCK (No

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