Lesaka Technologies (LSAK) Q4 2026 earnings summary

Executive summary

• Achieved significant financial turnaround in FY26, reaching GAAP profitability for the first time since 2022, with positive GAAP net income and strong growth in adjusted metrics.

• Delivered on guidance, with net revenue, adjusted EBITDA, and adjusted EPS all exceeding prior year and guidance ranges.

• Q4 FY26 marked a milestone with strong momentum heading into FY27 and a platform for sustainable growth.

• Strengthened balance sheet, reduced leverage, and improved cash generation.

Financial highlights

• FY26 net revenue rose 20% year-over-year to R6.33bn; group adjusted EBITDA up 41% to R1.27bn; adjusted EPS surged 210% to R6.51.

• FY26 GAAP net income attributable to shareholders was R39.8m, reversing a R1.65bn loss in FY25; net income in USD was $2.8M, up from a $91.0M loss.

• Group Adjusted EBITDA rose 52% to $75.7M; Adjusted EPS increased 210% to $0.39.

• Q4 FY26 net revenue grew 8% year-over-year to R1.62bn ($98.5M); adjusted EBITDA up 22% to R367m; Adjusted EPS up 166% to $0.15.

• Gross debt reduced by ~R200m; net cash from operating activities R864m; operating income was $12.7M, reversing a prior year loss of $28.0M.

Outlook and guidance

• FY27 guidance: net revenue R7.0bn–R7.7bn (11–22% YoY growth), adjusted EBITDA R1.45bn–R1.60bn (14–26% YoY), adjusted EPS R7.50–R8.50 (15–31% YoY).

• Q1 FY27 guidance: net revenue R1.58–1.66bn, adjusted EBITDA R200–240m, adjusted EPS R0.40–0.60, reflecting seasonality and restructuring costs.

• Medium-term ambitions: 20%+ CAGR in net revenue, 30%+ CAGR in adjusted EBITDA, 40%+ CAGR in adjusted EPS through FY29.

• FY27 guidance includes impact of pending Bank Zero acquisition, subject to regulatory approval.