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LSAK · LESAKA TECHNOLOGIES INC

Lesaka Technologies, Inc. provides financial technology solutions in South Africa and internationally. It operates in three segments: Merchant, Consumer, and Enterprise. The company offers payment acceptance, software, cash management, lending, and alternative digital product solutions to community and corporate customers; banking, lending, and insurance solutions to consumers, principally recipients of social welfare grants; and payment processing, prepaid solutions, and bill payment infrastructure connecting enterprises to consumers and businesses. It serves corporate and government organizations, including banks, mobile network operators, and municipalities. The company was formerly known as Net 1 UEPS Technologies, Inc. and changed its name to Lesaka Technologies, Inc. in May 2022. Lesaka Technologies, Inc. was founded in 1989 and is headquartered in Johannesburg, South Africa.

Cap structure and valuation

Cap structure
SP$4.23
SO85.8M
Options5.8M
Warrants0.0M
FD SO91.7M
MC$387.8M
Cash$81.4M
Total debt$210.7M
EV$517.1M
TTM Multiples
EV / Revenue0.7x
EV / EBITDA8.6x
MC / Net Income135.0x
EV / FCF16.3x
MC / FCF12.2x
Ownership & coverage
Institutional52.4%
Insiders8.2%
# Institutions52
Analysts1
ConsensusStrong Buy
Avg target$14.00
Short % float0.3%
Days to cover1.90

MC = SP × FD SO. EV = MC + Debt − Cash. SP = previous yfinance close. Balance-sheet figures as of 2026-09-09. Multiples use TTM (sum of last 4 quarters); shown as "—" when the denominator is zero or negative, or when fewer than four quarters are reported — a partial sum is not a trailing twelve months. Ownership & coverage per Yahoo Finance as of 2026-09-18 — institutional % is 13F-based, so it can lag a quarter and exceed 100% on share-count timing. Short interest per FINRA bi-monthly reporting, as of 2026-08-31; the float denominator can be unreliable on tiny floats.

Financial statements

LTM6/30/266/30/256/30/246/30/23
Total Revenue 721.55721.55659.70564.22527.97
Revenue YoY % 0.0%9.4%16.9%6.9%—
Cost of Revenue 490.65490.83487.19443.29417.54
Gross Profit 230.90230.72172.51120.93110.43
Gross Profit YoY % 0.1%33.7%42.7%9.5%—
Gross Margin % 32.0%32.0%26.2%21.4%20.9%
SG&A 156.02153.47123.7387.0395.05
R&D —0.800.500.500.50
Operating Expense 217.98218.04200.48118.17125.77
Operating Income 12.9312.68(27.97)2.75(15.35)
Operating Income YoY % 1.9%145.3%(1115.5%)117.9%—
Operating Margin % 1.8%1.8%(4.2%)0.5%(2.9%)
EBITDA 60.2760.035.7526.428.34
EBITDA Margin % 8.4%8.3%0.9%4.7%1.6%
Interest Expense 18.3918.5121.8219.1718.57
Other Income / (Expense) 9.779.77(57.28)1.26(3.47)
Pretax Income 4.303.94(107.07)(15.15)(37.38)
Tax Provision 1.431.43(15.98)3.36(2.31)
Net Income 2.872.51(91.09)(18.52)(35.07)
Net Income to Common 3.122.76(90.96)(18.52)(35.07)
Net Margin % 0.4%0.3%(13.8%)(3.3%)(6.6%)
Diluted EPS $0.04$0.03-$1.19-$0.29-$0.56
Basic EPS $0.04$0.03-$1.19-$0.29-$0.56
Diluted Avg Shares —79.773.961.360.1
Basic Avg Shares —79.573.961.360.1

Insider activity (last 2 years)

Date Filed Reporter Relationship Trans. Date Code Shares Price Total Value
2026-09-17 Mazanderani Ali Director, Officer (Executive Chairman) 2026-09-16 P 14,774 $4.40 $65,006
2026-09-17 Mazanderani Ali Director, Officer (Executive Chairman) 2026-09-15 P 28,226 $4.21 $118,831
2026-04-16 International Finance Corp 10% Owner 2026-04-16 S (66,437) $4.90 -$325,548
2026-04-16 International Finance Corp 10% Owner 2026-04-15 S (19,488) $4.90 -$95,536
2026-04-16 International Finance Corp 10% Owner 2026-04-14 S (106,948) $4.90 -$524,088
2026-04-13 International Finance Corp 10% Owner 2026-04-13 S (52,230) $4.92 -$256,987
2026-04-13 International Finance Corp 10% Owner 2026-04-10 S (57,894) $4.98 -$288,474
2026-04-13 International Finance Corp 10% Owner 2026-04-09 S (9,878) $4.95 -$48,923
2026-04-08 International Finance Corp 10% Owner 2026-04-08 S (19,311) $4.93 -$95,161
2026-04-08 International Finance Corp 10% Owner 2026-04-07 S (47,954) $4.91 -$235,632
2026-04-08 International Finance Corp 10% Owner 2026-04-06 S (34,219) $4.95 -$169,432
2026-04-02 International Finance Corp 10% Owner 2026-04-02 S (9,928) $4.99 -$49,585
2026-04-02 International Finance Corp 10% Owner 2026-04-01 S (18,663) $4.97 -$92,802
2026-04-02 International Finance Corp 10% Owner 2026-03-31 S (32,807) $5.02 -$164,642
2026-03-30 International Finance Corp 10% Owner 2026-03-30 S (6,467) $4.92 -$31,796
2026-03-30 International Finance Corp 10% Owner 2026-03-27 S (31,504) $4.91 -$154,685
2026-03-30 International Finance Corp 10% Owner 2026-03-26 S (2,468) $4.95 -$12,219
2026-03-30 Sparrow Dean Chad Director 2026-03-13 S (110) $4.66 -$513
2026-03-30 Sparrow Dean Chad Director 2026-03-12 S (6) $4.72 -$28
2026-03-30 Sparrow Dean Chad Director 2026-03-11 S (963) $4.80 -$4,622
2026-03-30 Sparrow Dean Chad Director 2026-03-09 S (144) $4.72 -$680
2026-03-30 Sparrow Dean Chad Director 2026-03-06 S (207) $4.73 -$979
2026-03-30 Sparrow Dean Chad Director 2026-03-03 S (332) $4.80 -$1,594
2026-03-25 International Finance Corp 10% Owner 2026-03-25 S (11,104) $5.04 -$55,969
2026-03-25 International Finance Corp 10% Owner 2026-03-24 S (16,179) $5.02 -$81,248
2026-03-25 International Finance Corp 10% Owner 2026-03-23 S (2,162) $5.03 -$10,885
2026-03-20 International Finance Corp 10% Owner 2026-03-19 S (34,607) $5.06 -$175,056
2026-03-20 International Finance Corp 10% Owner 2026-03-18 S (4,819) $5.38 -$25,918
2026-03-17 International Finance Corp 10% Owner 2026-03-17 S (87,041) $5.31 -$462,127
2026-03-17 International Finance Corp 10% Owner 2026-03-16 S (27,389) $4.94 -$135,365
2026-03-17 International Finance Corp 10% Owner 2026-03-13 S (60,000) $4.85 -$290,910
2026-03-12 International Finance Corp 10% Owner 2026-03-12 S (2,839) $4.68 -$13,279
2026-03-12 International Finance Corp 10% Owner 2026-03-11 S (4,235) $4.65 -$19,690
2026-03-12 International Finance Corp 10% Owner 2026-03-10 S (24,532) $4.64 -$113,775
2026-03-10 International Finance Corp 10% Owner 2026-03-09 S (27,767) $4.56 -$126,687
2026-03-10 International Finance Corp 10% Owner 2026-03-06 S (9,224) $4.64 -$42,795
2026-03-06 International Finance Corp 10% Owner 2026-03-05 S (4,290) $4.59 -$19,691
2026-03-06 International Finance Corp 10% Owner 2026-03-04 S (6,823) $4.65 -$31,727
2026-03-06 International Finance Corp 10% Owner 2025-12-17 S (100) $4.33 -$433
2026-03-06 International Finance Corp 10% Owner 2024-10-02 J 1,004,623 $4.79 $4,812,144
2026-03-06 International Finance Corp 10% Owner 2024-10-02 J 984,539 $4.79 $4,715,942
2026-03-06 International Finance Corp 10% Owner 2020-05-19 S (2,103,069) $4.00 -$8,412,276
2026-03-06 International Finance Corp 10% Owner 2018-02-08 S (20,220) $11.06 -$223,633
2026-03-06 International Finance Corp 10% Owner 2018-02-07 S (42,100) $10.83 -$455,943
2026-03-06 International Finance Corp 10% Owner 2017-11-16 S (26,731) $9.53 -$254,746
2026-03-06 International Finance Corp 10% Owner 2017-11-15 S (51,900) $9.48 -$492,012
2026-03-06 International Finance Corp 10% Owner 2017-11-14 S (48,400) $9.50 -$459,800
2026-03-06 International Finance Corp 10% Owner 2017-11-13 S (14,700) $9.64 -$141,708
2026-03-06 International Finance Corp 10% Owner 2017-11-13 S (50,000) $9.63 -$481,500
2026-03-06 International Finance Corp 10% Owner 2017-11-10 S (85,036) $9.74 -$828,251
2026-03-06 International Finance Corp 10% Owner 2017-11-09 S (19,760) $9.24 -$182,582
2026-03-06 International Finance Corp 10% Owner 2017-11-08 S (20,701) $9.19 -$190,242
2026-03-06 International Finance Corp 10% Owner 2017-11-07 S (28,400) $9.14 -$259,576
2026-03-06 International Finance Corp 10% Owner 2017-11-06 S (14,900) $8.96 -$133,504
2026-03-06 International Finance Corp 10% Owner 2017-11-03 S (27,265) $9.05 -$246,748
2026-03-06 International Finance Corp 10% Owner 2017-11-02 S (11,918) $9.07 -$108,096
2026-03-06 International Finance Corp 10% Owner 2017-11-01 S (10,700) $9.09 -$97,263
2026-03-06 International Finance Corp 10% Owner 2017-10-31 S (21,100) $9.10 -$192,010
2026-03-06 International Finance Corp 10% Owner 2017-10-30 S (20,545) $9.04 -$185,727
2026-03-05 Mazanderani Ali Director, Officer (Executive Chairman) 2026-03-04 P 32,000 $4.69 $150,080
2026-02-27 Mali Lincoln Camagu Director, Officer (CEO: Southern Africa) 2026-02-25 A 150,000 — $0
2026-02-27 Mali Lincoln Camagu Director, Officer (CEO: Southern Africa) 2025-12-01 D (77,706) — $-0
2026-02-10 Mazanderani Ali Director, Officer (Executive Chairman) 2026-02-09 P 91,423 $4.36 $398,604
2026-01-02 Mazanderani Ali Director, Officer (Executive Chairman) 2025-12-31 P 1,800,000 $5.00 $9,000,000
2025-12-11 Smith Daniel Luke Director, Officer (Group CFO) 2025-12-10 P 11,503 $4.40 $50,613
2025-12-11 Smith Daniel Luke Director, Officer (Group CFO) 2025-12-09 P 5,761 $4.21 $24,254
2025-12-09 Smith Daniel Luke Director, Officer (Group CFO) 2025-12-08 P 2,500 $4.16 $10,400
2025-12-09 Smith Daniel Luke Director, Officer (Group CFO) 2025-12-05 P 7,000 $4.21 $29,470
2025-12-09 Smith Daniel Luke Director, Officer (Group CFO) 2025-12-05 P 3,736 $4.14 $15,467
2025-06-24 Mali Lincoln Camagu Director, Officer (CEO: Southern Africa) 2024-11-17 F (12,396) $4.89 -$60,616
2025-04-02 Mazanderani Ali Director, Officer (Executive Chairman) 2025-03-31 P 20,000 $4.96 $99,200
2025-03-31 Mazanderani Ali Director, Officer (Executive Chairman) 2025-03-28 P 35,289 $5.01 $176,798
2025-03-31 Mazanderani Ali Director, Officer (Executive Chairman) 2025-03-27 P 30,930 $5.00 $154,650
2025-03-27 Mazanderani Ali Director, Officer (Executive Chairman) 2025-03-26 P 33,296 $4.94 $164,482
2025-03-27 Mazanderani Ali Director, Officer (Executive Chairman) 2025-03-25 P 8,316 $4.93 $40,998
2025-03-25 Mazanderani Ali Director, Officer (Executive Chairman) 2025-03-24 P 21,790 $4.75 $103,502
2025-03-25 Mazanderani Ali Director, Officer (Executive Chairman) 2025-03-21 P 600 $4.64 $2,784
2025-01-02 Heilbron Steven John Director, Officer (Executive) 2025-01-02 A 100,000 — $0
2025-01-02 Heilbron Steven John Director, Officer (Executive) 2025-01-02 A 150,000 — $0
2025-01-02 Heilbron Steven John Director, Officer (Executive) 2025-01-02 A 150,000 — $0
2025-01-02 Heilbron Steven John Director, Officer (Executive) 2024-12-31 A 350,000 — $0
2025-01-02 Heilbron Steven John Director, Officer (Executive) 2024-12-31 A 250,000 — $0
2024-11-06 Kola Naeem Ebrahim Director, Officer (Group Chief Operating Officer) 2024-11-05 A 150,000 — $0
2024-11-06 Mali Lincoln Camagu Director, Officer (CEO: Southern Africa) 2024-11-05 A 150,000 — $0
2024-11-06 Smith Daniel Luke Director, Officer (Group CFO) 2024-11-05 A 120,000 — $0
2024-10-11 Smith Daniel Luke Director, Officer (Group CFO) 2024-10-01 A 100,000 — $0