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Lesaka Technologies, Inc. (LSAK) 10-Year Financial Performance & Capital Metrics

LSAK • • Industrial / General
TechnologyInfrastructure SoftwarePayment Processing & Digital CommerceFinancial Infrastructure & Billing
AboutLesaka Technologies, Inc., a financial technology company, provides fintech products and services to unbanked and underbanked individuals and small businesses primarily in South Africa and internationally. The company develops payment technologies to offers financial and value -added services to its customers. It operates through three segments: Processing, Financial services, and Technology. The Processing segment provides transaction processing services that involve the collection, transmittal, and retrieval of all transaction data to its customers. The Financial services segment includes activities related to the provision of financial services to customers, including bank accounts, loans, and life insurance products. This segment also offers short-term loans to customers. The Technology segment sells hardware, such as point of sale devices, SIM cards, and other consumables; and licenses right to use certain technology developed by the company, as well as offers related technology services. 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 incorporated in 1997 and is headquartered in Johannesburg, South Africa.Show more
  • Revenue $660M +16.9%
  • EBITDA $7M -75.7%
  • Net Income -$88M -401.7%
  • EPS (Diluted) -1.14 -322.2%
  • Gross Margin 26.25% +21.6%
  • EBITDA Margin 1% -79.2%
  • Operating Margin -4.11% -745.6%
  • Net Margin -13.26% -329.1%
  • ROE -33.87% -399.3%
  • ROIC -5.19% -829.1%
  • Debt/Equity 0.90 +37.9%
  • Interest Coverage -1.26 -766.2%
Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

  • ✓Strong 5Y sales CAGR of 35.5%
  • ✓Trading at only 1.4x book value
  • ✓Efficient asset utilization: 1.0x turnover

✗Weaknesses

  • ✗Weak Piotroski F-Score: 3/9
  • ✗Negative free cash flow
  • ✗Low quality earnings: Net income not backed by cash flow
  • ✗Shares diluted 25.3% in last year

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

Price & Volume

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Growth Metrics

Revenue CAGR

10Y0.53%
5Y35.52%
3Y43.64%
TTM29.13%

Profit (Net Income) CAGR

10Y-
5Y-
3Y-
TTM-434.32%

EPS CAGR

10Y-
5Y-
3Y-
TTM-307.02%

ROCE

10Y Avg-1.17%
5Y Avg-6.31%
3Y Avg-2.76%
Latest-5.88%

Peer Comparison

Financial Infrastructure & Billing
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Per Share
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Quality & Returns
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Technical
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Sector-Specific
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CSGSCSG Systems International, Inc.2.27B79.4826.232.39%6.85%28.79%5%2.03
CPAYCorpay, Inc.23.14B330.7723.685.77%24.37%25.52%7.63%2.54
PAYOPayoneer Global Inc.1.92B5.4017.4217.64%6.96%9.64%6.05%0.03
IMXIInternational Money Express, Inc.460.64M15.508.66-0.01%6.26%26.14%5.01%1.35
ATCHAtlasClear Holdings, Inc.38.17M0.26-0.69171.31%-44.2%-79.32%4.12%
LSAKLesaka Technologies, Inc.392.68M4.67-4.1016.92%-11.78%-32.78%0.90

Profit & Loss

Jun 2016Jun 2017Jun 2018Jun 2019Jun 2020Jun 2021Jun 2022Jun 2023Jun 2024Jun 2025
Sales/Revenue+590.75M610.07M612.89M360.99M144.3M130.79M222.61M527.97M564.22M659.7M
Revenue Growth %-0.06%0.03%0%-0.41%-0.6%-0.09%0.7%1.37%0.07%0.17%
Cost of Goods Sold+290.1M292.38M304.54M215.35M106.95M96.25M168.32M417.54M442.42M486.55M
COGS % of Revenue0.49%0.48%0.5%0.6%0.74%0.74%0.76%0.79%0.78%0.74%
Gross Profit+300.65M317.68M308.35M145.64M37.34M34.54M54.29M110.43M121.8M173.16M
Gross Margin %0.51%0.52%0.5%0.4%0.26%0.26%0.24%0.21%0.22%0.26%
Gross Profit Growth %-0.08%0.06%-0.03%-0.53%-0.74%-0.08%0.57%1.03%0.1%0.42%
Operating Expenses+186.28M220.64M228.49M239.41M63.76M88.41M94.49M125.77M118.21M200.26M
OpEx % of Revenue0.32%0.36%0.37%0.66%0.44%0.68%0.42%0.24%0.21%0.3%
Selling, General & Admin145.89M179.26M193M202.06M62.16M0000131.51M
SG&A % of Revenue0.25%0.29%0.31%0.56%0.43%----0.2%
Research & Development2.3M2M1.8M700K1.6M300K500K500K500K0
R&D % of Revenue0%0%0%0%0.01%0%0%0%0%-
Other Operating Expenses40.39M41.38M35.48M37.35M088.11M93.99M125.27M117.71M68.74M
Operating Income+114.37M97.04M58.95M-93.76M-26.41M-53.87M-40.2M-15.35M3.59M-27.1M
Operating Margin %0.19%0.16%0.1%-0.26%-0.18%-0.41%-0.18%-0.03%0.01%-0.04%
Operating Income Growth %-0.11%-0.15%-0.39%-2.59%0.72%-1.04%0.25%0.62%1.23%-8.55%
EBITDA+154.76M138.42M94.43M-81.66M-21.77M-49.52M-32.62M8.34M27.25M6.62M
EBITDA Margin %0.26%0.23%0.15%-0.23%-0.15%-0.38%-0.15%0.02%0.05%0.01%
EBITDA Growth %-0.09%-0.11%-0.32%-1.86%0.73%-1.28%0.34%1.26%2.27%-0.76%
D&A (Non-Cash Add-back)40.39M41.38M35.48M12.1M4.65M4.35M7.58M23.68M23.66M33.72M
EBIT114.37M117.94M103.13M-309.58M-57.38M-53.87M-28.28M-8.31M6.17M-84.49M
Net Interest Income+11.87M17.41M8.28M-4.44M-4.84M-566K-3.74M-16.71M-16.64M-18.86M
Interest Income15.29M20.9M16.84M5.42M2.81M2.42M2.09M1.85M2.29M2.6M
Interest Expense3.42M3.48M8.57M9.86M7.64M2.98M5.83M18.57M18.93M21.45M
Other Income/Expense11.87M17.41M8.94M-184.51M-68.15M23.38M-3.35M-22.04M-17.67M-78.73M
Pretax Income+126.24M114.46M67.89M-303.03M-94.56M-30.5M-43.55M-37.38M-14.08M-105.83M
Pretax Margin %0.21%0.19%0.11%-0.84%-0.66%-0.23%-0.2%-0.07%-0.02%-0.16%
Income Tax+42.08M42.47M41.35M3.73M2.66M7.56M327K-2.31M3.36M-18.2M
Effective Tax Rate %0.65%0.64%0.58%1.01%0.94%1.25%1.01%0.94%1.24%0.83%
Net Income+82.45M72.95M39.15M-306.75M-89.28M-38.06M-43.88M-35.07M-17.44M-87.5M
Net Margin %0.14%0.12%0.06%-0.85%-0.62%-0.29%-0.2%-0.07%-0.03%-0.13%
Net Income Growth %-0.13%-0.12%-0.46%-8.84%0.71%0.57%-0.15%0.2%0.5%-4.02%
Net Income (Continuing)84.8M74.76M51.26M-314.37M-97.21M-38.06M-43.88M-35.07M-17.44M-87.63M
Discontinued Operations009.95M754K6.03M00000
Minority Interest2.5M2.77M95.91M0000006.84M
EPS (Diluted)+1.711.330.70-5.48-1.21-0.23-0.70-0.56-0.27-1.14
EPS Growth %-0.15%-0.22%-0.47%-8.83%0.78%0.81%-2.04%0.2%0.52%-3.22%
EPS (Basic)1.721.340.70-5.48-1.21-0.23-0.70-0.56-0.27-1.14
Diluted Shares Outstanding48.1M54.65M55.91M55.96M56M56.33M57.21M63.13M61.28M76.76M
Basic Shares Outstanding47.86M54.54M55.86M55.96M56M56.33M57.21M63.13M61.28M76.76M
Dividend Payout Ratio----------

Balance Sheet

Jun 2016Jun 2017Jun 2018Jun 2019Jun 2020Jun 2021Jun 2022Jun 2023Jun 2024Jun 2025
Total Current Assets+923.72M1.11B426.84M295.65M319.31M294.32M217.73M163.64M187.7M243.92M
Cash & Short-Term Investments223.64M258.46M90.05M46.06M217.67M198.57M43.94M35.5M59.06M76.52M
Cash Only223.64M258.46M90.05M46.06M217.67M198.57M43.94M35.5M59.06M76.52M
Short-Term Investments0000000000
Accounts Receivable82.81M112.2M89.46M12.64M58.95M47.73M62.79M62.41M80.72M116.64M
Days Sales Outstanding51.1767.1353.2812.78149.1133.19102.9543.1552.2264.53
Inventory10M8.02M12.89M7.54M19.86M22.36M34.23M27.34M18.23M23.55M
Days Inventory Outstanding12.5910.0115.4512.7767.7884.874.2223.915.0417.67
Other Current Assets632.51M785.89M289.14M257.29M22.83M25.66M76.78M38.39M29.68M27.22M
Total Non-Current Assets+339.78M344.57M792.45M377.29M134.37M134.01M438.83M378.6M370.75M409.79M
Property, Plant & Equipment54.98M39.41M27.05M18.55M12.05M12.01M31.75M32.18M39.22M54.62M
Fixed Asset Turnover10.75x15.48x22.65x19.46x11.97x10.89x7.01x16.41x14.39x12.08x
Goodwill179.48M188.83M283.24M149.39M24.17M29.15M162.66M133.74M138.55M199.4M
Intangible Assets48.56M38.76M131.13M11.89M612K357K156.7M121.6M111.35M139.22M
Long-Term Investments25.64M27.86M88.33M151.12M93.32M86.68M82.53M79.72M76.72M324K
Other Non-Current Assets31.12M49.7M256.38M44.19M3.86M5.19M1.42M1.04M1.47M3.68M
Total Assets+1.26B1.45B1.22B672.94M453.68M428.33M656.57M542.23M558.45M653.71M
Asset Turnover0.47x0.42x0.50x0.54x0.32x0.31x0.34x0.97x1.01x1.01x
Asset Growth %-0.02%0.15%-0.16%-0.45%-0.33%-0.06%0.53%-0.17%0.03%0.17%
Total Current Liabilities+602.21M721.31M282.53M238.15M71.3M52.49M145.87M101.91M129.89M160.47M
Accounts Payable14.1M15.14M21.11M9.87M6.29M7.11M18.57M12.38M16.67M19.87M
Days Payables Outstanding17.7418.925.316.7221.4626.9740.2710.8213.7614.9
Short-Term Debt8.68M25.32M44.08M84.99M14.81M14.24M73.02M35.71M31.81M36.42M
Deferred Revenue (Current)1000K1000K1000K1000K000001000K
Other Current Liabilities573.21M668.54M204.59M140.85M12.94M5.81M22.64M7.7M29.8M35.19M
Current Ratio1.53x1.53x1.51x1.24x4.48x5.61x1.49x1.61x1.45x1.52x
Quick Ratio1.52x1.52x1.47x1.21x4.20x5.18x1.26x1.34x1.30x1.37x
Cash Conversion Cycle46.0258.2543.428.83195.42191.02136.956.2253.567.3
Total Non-Current Liabilities+58.07M21.43M90.66M7.69M7.18M14.88M196.35M181.41M173.28M231.85M
Long-Term Debt43.13M7.5M5.47M000134.84M129.46M127.47M188.81M
Capital Lease Obligations00003.31M1.89M4.83M3.14M5.09M6.13M
Deferred Tax Liabilities12.56M11.14M46.61M4.68M1.86M10.41M54.21M46.84M38.13M33.92M
Other Non-Current Liabilities2.38M2.79M38.58M3.01M2.01M2.58M2.47M1.98M2.6M2.99M
Total Liabilities660.28M742.75M373.19M245.84M78.49M67.37M342.22M283.33M303.16M392.33M
Total Debt+51.81M32.82M50.16M84.99M20.38M18.96M215.19M170.05M166.7M235.37M
Net Debt-171.84M-225.64M-39.89M38.92M-197.29M-179.62M171.25M134.55M107.64M158.85M
Debt / Equity0.09x0.05x0.06x0.20x0.05x0.05x0.68x0.66x0.65x0.90x
Debt / EBITDA0.33x0.24x0.53x----20.39x6.12x35.55x
Net Debt / EBITDA-1.11x-1.63x-0.42x----16.14x3.95x23.99x
Interest Coverage33.41x27.85x6.88x-9.51x-3.46x-18.07x-6.90x-0.83x0.19x-1.26x
Total Equity+603.22M708.01M846.1M427.1M375.19M360.96M314.35M258.91M255.29M261.38M
Equity Growth %0.26%0.17%0.2%-0.5%-0.12%-0.04%-0.13%-0.18%-0.01%0.02%
Book Value per Share12.5412.9615.137.636.706.415.494.104.173.41
Total Shareholders' Equity600.72M705.24M750.19M427.1M375.19M360.96M314.35M258.91M255.29M254.54M
Common Stock74K80K107.75M107.75M85.06M85.06M79.51M79.51M79.51M89.06M
Retained Earnings700.32M773.28M812.43M528.58M444.67M406.61M362.74M327.66M310.22M222.72M
Treasury Stock-241.63M-286.95M-286.95M-286.95M-286.95M-286.95M-286.95M-288.24M-289.73M-298.52M
Accumulated OCI-189.7M-162.57M-159.24M-199.27M-169.07M-145.72M-168.84M-195.73M-188.35M-185.66M
Minority Interest2.5M2.77M95.91M0000006.84M

Cash Flow

Jun 2016Jun 2017Jun 2018Jun 2019Jun 2020Jun 2021Jun 2022Jun 2023Jun 2024Jun 2025
Cash from Operations+116.55M97.16M132.6M-4.46M-46.05M-58.37M-37.2M410K28.79M-9.12M
Operating CF Margin %0.2%0.16%0.22%-0.01%-0.32%-0.45%-0.17%0%0.05%-0.01%
Operating CF Growth %-0.14%-0.17%0.36%-1.03%-9.32%-0.27%0.36%1.01%69.22%-1.32%
Net Income84.8M74.65M38.27M-305.27M-78.36M-38.06M-43.88M-35.07M-17.44M-87.5M
Depreciation & Amortization40.39M41.38M35.48M37.35M13.3M4.35M7.58M23.68M23.66M33.72M
Stock-Based Compensation3.6M1.98M2.61M393K1.73M344K2.96M7.31M7.91M9.55M
Deferred Taxes-2.31M-2.42M17.28M237.98M26.7M0018.41M0-23.95M
Other Non-Cash Items-2.04M1.33M-180K31.96M1.3M-17.58M1.99M864K6.69M91.76M
Working Capital Changes-7.88M-19.76M39.15M-6.87M-10.71M-7.43M-5.85M-14.78M7.97M-32.69M
Change in Receivables-809K-16.1M32.38M11.66M9.15M3.75M9.05M-1.69M-20.9M-33.53M
Change in Inventory1M3.02M-2.52M4.04M-19.33M1.28M-4.82M2.17M9.84M169K
Change in Payables-7.84M-6.46M10.6M-14.54M-139K-335K-8.85M1.71M22.14M-13.4M
Cash from Investing+-5.76M-114.07M180.45M64.48M223.12M47.77M-193.69M-16.46M-16.41M-11.34M
Capital Expenditures-35.8M-11.2M-9.65M-10.8M-5.94M-4.29M-4.56M-16.57M-12.96M0
CapEx % of Revenue0.06%0.02%0.02%0.03%0.04%0.03%0.02%0.03%0.02%0.03%
Acquisitions----------
Investments----------
Other Investing53.36M-61.94M488.98M81.15M-48.66M7.37M54K-1.2M-5.38M-14.84M
Cash from Financing+13.64M40.47M-473.48M-24.71M-48.84M-13.08M122.26M-19.12M-7.11M29.73M
Debt Issued (Net)----------
Equity Issued (Net)----------
Dividends Paid0000000000
Share Repurchases----------
Other Financing-64.55M106.61M-491.55M-1.97M9.11M-7.72M3.59M2.53M7.38M-5.46M
Net Change in Cash----------
Free Cash Flow+80.75M85.97M122.96M-15.26M-51.98M-62.66M-41.76M-16.16M15.83M-26.32M
FCF Margin %0.14%0.14%0.2%-0.04%-0.36%-0.48%-0.19%-0.03%0.03%-0.04%
FCF Growth %-0.18%0.06%0.43%-1.12%-2.41%-0.21%0.33%0.61%1.98%-2.66%
FCF per Share1.681.572.20-0.27-0.93-1.11-0.73-0.260.26-0.34
FCF Conversion (FCF/Net Income)1.41x1.33x3.39x0.01x0.52x1.53x0.85x-0.01x-1.65x0.10x
Interest Paid3.44M3.71M8.64M003.06M5.82M13.28M17.38M18.08M
Taxes Paid42.12M45.16M41.06M0016.61M1.14M7.2M6.51M6.48M

Key Ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)15.24%11.13%5.04%-48.19%-22.26%-10.34%-12.99%-12.24%-6.78%-33.87%
Return on Invested Capital (ROIC)20.13%15.93%6.86%-11.05%-6.15%-22.49%-9.04%-2.62%0.71%-5.19%
Gross Margin50.89%52.07%50.31%40.35%25.88%26.41%24.39%20.92%21.59%26.25%
Net Margin13.96%11.96%6.39%-84.97%-61.87%-29.1%-19.71%-6.64%-3.09%-13.26%
Debt / Equity0.09x0.05x0.06x0.20x0.05x0.05x0.68x0.66x0.65x0.90x
Interest Coverage33.41x27.85x6.88x-9.51x-3.46x-18.07x-6.90x-0.83x0.19x-1.26x
FCF Conversion1.41x1.33x3.39x0.01x0.52x1.53x0.85x-0.01x-1.65x0.10x
Revenue Growth-5.63%3.27%0.46%-41.1%-60.03%-9.36%70.21%137.17%6.87%16.92%

Revenue by Segment

2016201720182019202020212022202320242025
Processing Fees-----63.32M-138.91M142.35M185.05M
Processing Fees Growth--------2.48%29.99%
Technology Products-----19.01M-20.27M9.9M27.15M
Technology Products Growth---------51.17%174.30%
Insurance Revenue-----6.61M-9.68M12.12M20.05M
Insurance Revenue Growth--------25.21%65.49%
Other Products And Services-----2.41M-5.42M5.69M7.73M
Other Products And Services Growth--------4.89%35.89%
Service---330.5M--178.85M---
Service Growth----------
Loan Based Fees Received------22.44M---
Loan Based Fees Received Growth----------
Product---20.33M--21.32M---
Product Growth----------
International Transaction Processing----90.42M-----
International Transaction Processing Growth----------
Financial Inclusion And Applied Technology225.98M208.71M194.76M-82.34M-----
Financial Inclusion And Applied Technology Growth--7.64%-6.68%-------
Loan Based Fees---29.87M------
Loan Based Fees Growth----------
Variation Of Revenue----19.71M------
Variation Of Revenue Growth----------

Revenue by Geography

2016201720182019202020212022202320242025
Rest Of World10.12M22.54M26.15M9.84M-3.32M7.56M16.66M20.22M26.96M
Rest Of World Growth-122.76%16.04%-62.37%--127.94%120.32%21.35%33.36%

Frequently Asked Questions

Growth & Financials

Lesaka Technologies, Inc. (LSAK) reported $740.8M in revenue for fiscal year 2025. This represents a 90% increase from $390.3M in 2012.

Lesaka Technologies, Inc. (LSAK) grew revenue by 16.9% over the past year. This is strong growth.

Lesaka Technologies, Inc. (LSAK) reported a net loss of $87.3M for fiscal year 2025.

Dividend & Returns

Lesaka Technologies, Inc. (LSAK) has a return on equity (ROE) of -33.9%. Negative ROE indicates the company is unprofitable.

Lesaka Technologies, Inc. (LSAK) had negative free cash flow of $14.6M in fiscal year 2025, likely due to heavy capital investments.

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