LESAKA TECHNOLOGIES INC · Functions Related To Depository Banking, NEC

LSAK

Moderate riskNext report: Around Nov 4 (est.)

View price ↗

The short version

A company still losing money with growing sales. Institutions are adding.

Going well

Sales up 12% in the latest quarter vs a year ago
Sales up 17% last year

Watch out for

Losing money
Share count growing 8.9% a year
Debt above equity: 1.2x

Money moves

No insider buying or selling in the last 30 days
Institutions added 6.7% to their holdings in the quarter ending June 2026 (28 bought, 15 sold)

Facts from SEC filings, not a recommendation.

What the price means

Price as of Oct 26

$4.10+0.5% that day

Company value: $352M; Share price times all shares
Price vs profit (P/E): 102.5x; You pay about $102 for each $1 of yearly profit
Price vs sales: 0.49x; Company value is 0.49 times a year of sales
Cash vs value: 23%; Cash as a share of company value
Debt vs value: 62%; Debt as a share of company value

From LSAK's last IEX trade and its SEC filings (profits and sales over the last four quarters). A starting point for research, not a verdict.

The business over time

Last 12 quarters, from SEC filings

Sales, Jun '26 (worked out from yearly totals)

$188.3M+12% vs a year earlier

Sep '23Tap a barJun '26

Last 12 months: $721.6M, up 9.4% from the 12 months before. Over 5 years, sales grew about 36% a year.

What the price assumes

Your guesses, our math

Move the sliders to your own view of LSAK. Starting points are the company's recent numbers.

Sales growth+9% a yearRecently: +9.4% a yearProfit margin1%Last 12 months: 0.4%P/E at the end40xToday: 102.5x. Many steady companies trade at 12x to 25xShare count change+10% a yearBelow zero means buybacks; above zero means new shares (dilution)

Sales in 5 years$1.1B

Profit in 5 years$11M

Price these guesses point to$3.21-22% vs $4.10 todayAbout -4.8% a year, before dividends

What today's price needs: with a 1% margin and a 40x P/E, sales would have to grow about 14% a year for 5 years just to match today's price.

Simple math on your guesses, not a forecast or a price target. Real results depend on many things these sliders leave out.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

0/6Weak

MissReturn on equity 15%+Earns a lot on the money owners have in the business.-48.7%
MissDebt under half of equityNot relying on borrowed money.1.20x equity
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.-13.8%
MissProfitable every yearSteady profits, not one good year.3 of 10 years
MissFree cash flow positiveBrings in more cash than it spends to run and grow.-$26.3M
MissShare count not growingNot diluting owners. Falling means buybacks.+29.2% in 3 years

Revenue: $659.7M; +16.9% vs prior year
5-year growth: +35.5%/yr; revenue, per year
Total debt: $216.8M; 1.20x equity
Free cash flow: -$26.3M; -4.0% of revenue

From annual reports filed with the SEC. Gross margin doesn't apply to banks and insurers, so it isn't scored. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Jun 30, 2026

Reported Sep 9

Revenue: $188.3M; +11.8% YoY
EPS: $0.04; vs -$0.37
Op. margin: 3.4%; +20.4 pts
Gross margin: 33.3%; +4.6 pts
Free cash flow: $7.5M

Some values are worked out from year-to-date totals in the annual report.

Insider rating

Last 90 days

No open-market insider buys or sells in the last 90 days.

Weekly insider trend

No trades to chart yet.

Filing buzz

Last 7 days vs normal

0/ 100

This week: 0
Normal week: 1.3
vs normal: 0.0x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Accumulating+6.7%

Institutions added 6.7% to their holdings. 28 bought, 15 sold. 3 quarters of net buying in a row.

Shares held by institutions21.7M

Sep '24Jun '26

Safety check

From SEC filings

Share count growthYearly rate, last 3 years

+11.8%

Cash runwayAt last year's cash burn

Cash flow positive

Debt to equityLatest balance sheet: debt compared with what owners have

1.0x · $210.7M debt

Shares outstandingLatest reported

86M

Why moderate risk

Share count growing 11.8% a year (dilution)

Earnings reports

Last 12

Next reportAround Nov 4 (est.)Estimated from the same quarter last year

Results filedSep 9
Results filedMay 18
Results filedMay 6
Results filedFeb 4
Results filedNov 5, 2025

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

5%+ holder update (active)Sep 29 · View filing ↗Activist 5%+ holder update (passive)Jul 31 · View filing ↗Big holder

Insider trades

Open-market buys and sells, last 90 days

No open-market buys or sells in 90 days. Grants and option exercises are left out.

"Owns after" is the insider's holding right after the trade. Pre-planned (10b5-1) sales are set up months ahead, a weaker signal.

Latest filings

Straight from SEC EDGAR

Stock awardAli MazanderaniExecutive Chairman, Director

1,000,000 shares

Now owns 1,000,000 shares
Exercise price $5.00
Employee stock option (right to buy)
Filed 72 days after trade

Aug 3Form 4 ↗

New insiderOct 7 · Form 3 ↗New insiderOct 7 · Form 3 ↗

Returned to companyNaeem Ebrahim KolaGroup Chief Operating Officer

68,319 shares

+19% of holdings
Now owns 423,769 shares
Filed 309 days after trade

Dec 1, 2025Form 4 ↗

Proxy statementOct 2 · Form DEF 14A ↗DEFA14AOct 2 · Form DEFA14A ↗ARSOct 2 · Form ARS ↗Leadership changeSep 29 · Form 8-K ↗5%+ holder update (active)Sep 29 · Form SCHEDULE 13D/A ↗

BoughtAli MazanderaniExecutive Chairman, Director

43,000 shares at $4.28 avg ($4.21 to $4.40) · $184K

+2% of holdings
Now owns 2,491,538 shares
2 transactions
Filed 1 day after trade

Sep 16Form 4 ↗

Leadership changeSep 14 · Form 8-K ↗Annual reportSep 9 · Form 10-K ↗Earnings resultsSep 9 · Form 8-K ↗Planned insider saleSep 1 · Form 144 ↗Leadership changeAug 3 · Form 8-K ↗

Source: SEC EDGAR filings. For informational purposes. Not investment advice.

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