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Correction to headline earnings (loss) and headline earnings (loss) per share published in Q3 FY2026 results
Lesaka Technologies, Inc.
Registered in the state of Florida, USA
(IRS Employer Identification No. 98-0171860)
Nasdaq share code: LSAK
JSE share code: LSK
LEI: 529900J4IZMWV4RDEB07
ISIN: US64107N2062
("Lesaka," or the "Company")
Correction to headline earnings (loss) and headline earnings (loss) per share information published in Q3 FY2026 results
Further to the announcement of Lesaka's Q3 FY2026 results released on May 7 2026, shareholders are advised that Lesaka has
corrected the headline earnings/ (loss) and headline earnings/ (loss) per share ("HE(L)PS") information previously published in that
announcement. The correction relates only to headline earnings/ (loss) and headline earnings/ (loss) per share and does not affect any
other reported results. Headline earnings (loss) and HE(L)PS are non-GAAP measures. Refer to Attachment A for a reconciliation of the
non-GAAP measures.
The correction arose from the classification of the "change in fair value of equity securities, net" line item in the calculation of headline
earnings/ (loss) and headline earnings/ (loss) per share. In the previously published calculation, this fair value movement was excluded
from headline earnings/(loss). Following a further review of the SAICA Headline Earnings Circular 1/2023, the Company determined that
fair value movements that are recognized in profit or loss on equity securities that are in the scope of IFRS 9 Financial Instruments should
be included in headline earnings/ (loss), regardless of whether the underlying investment is considered non-core or non-operating. The
Company has therefore corrected the headline earnings/(loss) and headline earnings/ (loss) per share information to include this item.
This relates only to the information in the announcement of Lesaka Q3 FY2026 results released on May 7, 2026. The previous
announcements correctly included the change in fair value of equity securities, net in the headline earnings per share calculation.
The corrected amounts are presented below.
Three months ended March 31, 2026:
Previously Adjustment(1) Revised
published
Net income used to calculate headline earnings (USD'000) 2,549 (378) 2,171
Headline earnings per share
Basic, in USD 0.03 - 0.03
Diluted, in USD 0.03 - 0.03
(1) Represents the adjustment to correct the amount incorrectly reported on the line "Change in fair value of equity securities, net".
Three months ended March 31, 2025:
Previously Adjustment(1) Revised
published
Net loss used to calculate headline loss (USD'000) (5,391) (16,971) (22,362)
Headline loss per share
Basic, in USD (0.07) (0.21) (0.28)
Diluted, in USD (0.07) (0.21) (0.28)
(1) Represents the adjustment to correct the amount incorrectly reported on the line "Change in fair value of equity securities, net".
Nine months ended March 31, 2026:
Previously Adjustment(1) Revised
published
Net (loss) income used to calculate headline earnings (loss) (USD'000) (163) 2,593 2,430
Headline earnings per share
Basic, in USD - 0.03 0.03
Diluted, in USD - 0.03 0.03
(1) Represents the adjustment to correct the amount incorrectly reported on the line "Change in fair value of equity securities, net".
Nine months ended March 31, 2025:
Previously Adjustment(1) Revised
published
Net loss used to calculate headline loss (USD'000) (16,080) (43,618) (59,698)
Headline loss per share
Basic, in USD (0.22) (0.61) (0.83)
Diluted, in USD (0.22) (0.61) (0.83)
(1) Represents the adjustment to correct the amount incorrectly reported on the line "Change in fair value of equity securities, net".
About Lesaka Technologies, Inc. (www.lesakatech.com)
Lesaka operates a South African fintech company driven by a purpose to provide financial services, software and other business services
to Southern Africa's underserviced consumers and merchants. We offer an integrated and holistic multiproduct platform that provides
transactional accounts, lending, insurance, merchant acquiring, cash management, software and Alternative Digital Products ("ADP").
We provide targeted solutions and integrations to facilitate payments between consumers, merchants, and enterprises. By providing a
full-service fintech platform in our connected ecosystem, we facilitate the digitization of commerce in our markets.
Lesaka has a primary listing on NASDAQ (NASDAQ:LSAK) and a secondary listing on the Johannesburg Stock Exchange (JSE: LSK).
Visit www.lesakatech.com for additional information about Lesaka.
Investor Relations and Media Relations Contacts:
Idris Dungarwalla
Email: idris.dungarwalla@lesakatech.com
Mobile: +44 786 225 4852
Akash Dowra
Email: akash.dowra@lesakatech.com
Mobile: +27 83 235 9750
Media Relations Contact:
Ian Harrison
Email: Ian@thenielsennetwork.com
Johannesburg
May 18, 2026
Sponsor:
Rand Merchant Bank, a division of FirstRand Bank Limited
Annexure A
Use of Non-GAAP Measures
U.S. securities laws require that when we publish any non-GAAP measures, we disclose the reason for using these non-GAAP measures
and provide reconciliations to the most directly comparable GAAP measures. The presentation of HE(L)PS are non-GAAP measures.
Non-GAAP Measures
Headline earnings (loss) per share
The inclusion of HE(L)PS is a requirement of our listing on the JSE. HE(L)PS basic and diluted is calculated using net income (loss)
which has been determined based on GAAP. Accordingly, this may differ to the headline (loss) earnings per share calculation of other
companies listed on the JSE as these companies may report their financial results under a different financial reporting framework,
including, but not limited to, International Financial Reporting Standards.
HE(L)PS basic and diluted is calculated as GAAP net income (loss) adjusted for the loss on sale of equity-accounted investments,
impairment losses related to our equity-accounted investments, impairment losses and (profit) loss on sale of property, plant and
equipment. Attachment C presents the reconciliation between our net income (loss) used to calculate earnings (loss) per share basic and
diluted and HE(L)PS basic and diluted and the calculation of the denominator for headline diluted earnings (loss) per share.
Reconciliation of net income (loss) used to calculate earnings (loss) per share basic and diluted and headline earnings (loss)
per share basic and diluted:
Three months ended March 31, 2026 and 2025
(As (As
revised) revised)
2026 2025
Net income (loss) (USD'000) 552 (22,353)
Adjustments:
Income recognized related to closure of legacy businesses (848) -
Impairment loss 2,604 -
Profit on sale of property, plant and equipment (188) (12)
Tax effects on above 51 3
Net income (loss) used to calculate headline earnings (loss) (USD'000) (1) 2,171 (22,362)
Weighted average number of shares used to calculate net earnings (loss) per share basic earnings (loss) 81,845 81,282
and headline earnings (loss) per share basic earnings (loss) ('000)
Weighted average number of shares used to calculate net earnings (loss) per share diluted earnings (loss) 82,024 81,282
and headline earnings (loss) per share diluted earnings (loss) ('000)
Headline earnings (loss) per share:
Basic, in USD(1) 0.03 (0.28)
Diluted, in USD(1) 0.03 (0.28)
(1) Adjusted to correct the amount incorrectly reported on the line "Change in fair value of equity securities, net".
Nine months ended March 31, 2026 and 2025
(As (As
revised) revised)
2026 2025
Net loss (USD'000) (461) (59,659)
Adjustments:
Loss on disposal of equity securities 730 -
Net loss on impairment/disposal of equity-accounted investment 584 -
Income recognized related to closure of legacy businesses (848) -
Impairment loss 2,604 -
Profit on sale of property, plant and equipment (245) (53)
Tax effects on above 66 14
Net income (loss) used to calculate headline loss (USD'000) (1) 2,430 (59,698)
Weighted average number of shares used to calculate net income (loss) per share basic loss and headline
earnings (loss) per share basic loss ('000) 81,464 72,333
Weighted average number of shares used to calculate net income (loss) per share diluted loss and headline
earnings (loss) per share diluted loss ('000) 81,616 72,333
Headline earnings (loss) per share:
Basic, in USD(1) 0.03 (0.83)
Diluted, in USD(1) 0.03 (0.83)
(1) Adjusted to correct the amount incorrectly reported on the line "Change in fair value of equity securities, net".
Calculation of the denominator for headline diluted earnings (loss) per share
Three months ended Nine months ended
March 31, March 31,
2026 2025 2026 2025
('000) ('000)
Basic weighted-average common shares outstanding and unvested restricted 81,845 81,282 81,464 72,333
shares expected to vest under GAAP
Effect of dilutive securities under GAAP 179 - 152 -
Denominator for headline diluted earnings (loss) per share 82,024 81,282 81,616 72,333
Weighted average number of shares used to calculate headline diluted earnings (loss) per share represents the denominator for basic
weighted-average common shares outstanding and unvested restricted shares expected to vest plus the effect of dilutive securities under
GAAP. We use this number of fully diluted shares outstanding to calculate headline diluted earnings (loss) per share because we do not
use the two-class method to calculate headline diluted earnings (loss) per share.
Date: 18-05-2026 07:05:00
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