LSAK reports FY 2026 net revenue up 20% and adjusted EBITDA up 41%

On Thursday, Lesaka Technologies (NASDAQ: LSAK ) discussed fourth-quarter financial results during its earnings call. The full transcript is provided below. This content is powered APIs. For comprehensive financial data and transcripts, visit View the webcast at Summary Lesaka Technologies reported a 20% increase in net revenue to R6.33 billion and a 41% growth in group adjusted EBITDA to R1.27 billion for FY26, achieving positive GAAP net income for the first time since 2022. The company successfully integrated its operations under one brand, enhancing team collaboration and customer recognition, and opened a new Johannesburg office, with upcoming office expansions in Cape Town and Durban. Lesaka's Consumer division saw significant growth with a 38% increase in net revenue, driven by customer acquisition and cross-selling, while the Merchant division faced revenue compression challenges despite increased transaction volumes. Lesaka's balance sheet improved with a reduction in net debt to EBITDA ratio to 1.9 times, ahead of the Bank Zero acquisition, and the company plans strategic investments in data, risk, and compliance to support future growth. FY27 guidance includes net revenue of R1.58 billion to R1.66 billion for Q1, and an increased group cost run rate to support growth, with an emphasis on improving Merchant performance and integrating Bank Zero. Full Transcript OPERATOR Welcome to Lesaka Technologies' results webcast for the fourth quarter and full year of fiscal 2026. As a reminder, this webcast is being recorded. Management will address any questions you have at the end of the presentation. To ask a question, live participants are requested to join the Chorus Call line by registering via the link provided. Alternatively, please enter your questions into the question tab of this webcast. Our press release and investor presentation are available on our investor relations website at ir.lesakatech.com. During this call we will be making forward-looking statements and I ask you to look at the cautionary language contained in our press release, presentation, and Form 10-K available on our website. As a domestic filer in the United States, we report results in US Dollars under US GAAP. However, it is important to note that our operational currency is the South African Rand and as such we analyze our performance in South African Rand, which is non-GAAP. This assists investors in understanding the underlying trends in our business. I will now turn the webcast over to Ali. Ali Mazanderani, Executive Chairman Good morning, good afternoon and thank you for joining us for Lesaka's results for the fourth quarter and full year of fiscal 2026. FY26 was another excellent year for Lesaka, delivering on all our guidance measures which we will come to shortly. But before reviewing the year, I want to briefly reflect on Lesaka's evolution. Lesaka was launched in May 2022 following the merger with the Connect Group. We had set out on a journey through orga