JOHANNESBURG, May 26, 2026, 13:02 (SAST)
- Lesaka’s JSE share traded at 8,101 cents midday, with volume very light.
- LSAK, which is listed on Nasdaq, was last at $4.94 before regular trading started Tuesday in the U.S.
- Investors look at better profit guidance, a revised JSE headline-earnings statement, and weaker merchant revenue.
Lesaka Technologies shares in Johannesburg traded flat on Tuesday with low activity, as only one deal had gone through by 12:17 p.m. local time. The stock was at 8,101 cents on the JSE, just 255 shares traded and turnover of 20,657.55 rand. Lesaka’s Nasdaq shares, last at $4.94, were waiting for normal U.S. trading to resume after Memorial Day. JSE
Timing made a difference. U.S. markets were closed Monday for Memorial Day, and Nasdaq’s regular hours go from 9:30 a.m. to 4 p.m. Eastern. That left Lesaka’s U.S. shares without an updated regular-session price during the Johannesburg day. NASDAQ
Lesaka shares are moving after the company corrected its headline earnings per share on May 18, not on news of a takeover or fresh earnings. The headline EPS is a South African non-GAAP metric that leaves out some special items, required by the JSE, not U.S. accounting rules. Lesaka said only headline earnings and headline earnings per share were changed in the correction. Other results were not affected. SEC
Company now reports third-quarter headline earnings of $2.171 million, with headline EPS at $0.03 both basic and diluted. For the nine months ended March 31, headline earnings are now $2.430 million, or $0.03 per share. SEC
Lesaka holders are still focused on profit. Earlier this month, the company reported third-quarter net revenue up 16% in rand. Group adjusted EBITDA climbed 45%. Chairman Ali Mazanderani called it “another strong quarter” and said profitability was improving. SEC
Lesaka put out 2026 guidance, calling for full-year net revenue between 6.2 billion rand and 6.5 billion rand, adjusted EBITDA in a 1.25 billion to 1.35 billion rand range, and adjusted earnings per share expected at 5.50 rand to 6.00 rand. The company also said it sees positive net income attributable to Lesaka. These numbers do not include the planned acquisition of Bank Zero, which is still waiting for regulatory sign-off and other closing steps. SEC
Lesaka’s merchant segment revenue dropped 13% in rand terms for the third quarter, while adjusted EBITDA for the segment was up 3%. Investors often look at this line against local payment and acquiring players like Yoco, iKhokha, and Sureswipe. Lesaka has listed those firms as competitors in card acquiring. SEC
Nasdaq 100 futures were up 0.77% early Tuesday, with U.S. stock-index futures higher after 04:50 a.m. ET. Reuters said investors watched developments in Middle East peace talks. The broader market tone could help at the New York open, though company-specific issues remain. Reuters
But clear risks stay in focus. Thin trading can swing shares out of proportion, the merchant business hasn’t posted a clear revenue bounce, and the Bank Zero deal will only shift the balance sheet if it clears all hurdles and the integration works. If the merchant recovery drags, credit losses rise or funding tightens, Lesaka’s higher profit guidance could be hard to maintain.
Lesaka’s stock isn’t moving much at the moment. Traders are waiting for more volume on Nasdaq once the holiday is over, or maybe a new filing on Bank Zero, merchant activity, or updated guidance for the year-end.
