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Unaudited Quarterly Results (Table) | 12 Months Ended
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Jun. 30, 2021
Error Corrections And Prior Period Adjustments Restatement [Line Items] |
Impact Of The Restatement On Financial Statements | Consolidated statement of operations Year ended June 30, 2020 As reported Correction As restated (in thousands) Revenue $ 150,997 $ (6,698) $ 144,299 Cost of goods sold, IT processing, servicing and support $ 109,006 $ (6,698) $ 102,308 Year ended June 30, 2019 As reported Correction As restated (in thousands) Revenue $ 166,227 $ (5,592) $ 160,635 Cost of goods sold, IT processing, servicing and support $ 129,696 $ (5,592) $ 124,104 Years ended June 30, 2020 June 30, 2019 Processing Total Processing Total Processing fees - as restated $ 55,992 $ 60,895 $ 82,995 $ 83,090 As reported 62,690 67,593 88,587 88,682 Correction (6,698) (6,698) (5,592) (5,592) South Africa - as restated 50,951 55,854 73,153 73,248 As reported 57,649 62,552 78,745 78,840 Correction (6,698) (6,698) (5,592) (5,592) Rest of world $ 5,041 $ 5,041 $ 9,842 $ 9,842 Total revenue, derived from the following geographic locations - as restated $ 83,628 $ 144,299 $ 107,422 $ 160,635 As reported 90,326 150,997 113,014 166,227 Correction (6,698) (6,698) (5,592) (5,592) South Africa - as restated 78,587 139,258 97,580 150,793 As reported 85,285 145,956 103,172 156,385 Correction (6,698) (6,698) (5,592) (5,592) Rest of world $ 5,041 $ 5,041 $ 9,842 $ 9,842 Revenue (as restated) Reportable Segment Corporate/ Eliminations Inter- segment From external customers Processing - as restated $ 91,786 $ - $ 8,158 $ 83,628 As reported 98,484 - 8,158 90,326 Correction (6,698) - - (6,698) Total for the year ended June 30, 2020 - as restated 156,727 - 12,428 144,299 As reported 163,425 - 12,428 150,997 Correction (6,698) - - (6,698) Processing - as restated $ 118,088 $ - $ 10,666 $ 107,422 As reported 123,680 - 10,666 113,014 Correction (5,592) - - (5,592) Total for the year ended June 30, 2019 - as restated 195,237 (19,709) 14,893 160,635 As reported 200,829 (19,709) 14,893 166,227 Correction $ (5,592) $ - $ - $ (5,592)
Schedule Of Unaudited Consolidated Statements Of Operations | Three months ended Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 June 30, 2021 (In thousands except per share data) Revenue $ 34,517 $ 28,828 $ 32,305 $ 35,136 $ 130,786 Operating loss (13,600) (14,292) (15,205) (10,775) (53,872) Net income (loss) attributable to Net1 $ 1,639 $ (6,204) $ (4,534) $ (28,958) $ (38,057) Net earnings (loss) per share, in United States dollars Basic earnings (loss) attributable to Net1 shareholders $ 0.03 $ (0.11) $ (0.08) $ (0.51) $ (0.67) Diluted earnings (loss) attributable to Net1 shareholders $ 0.03 $ (0.10) $ (0.08) $ (0.52) $ (0.67) Three months ended Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 June 30, 2020 (as restated) (A) (as restated) (A) (as restated) (A) (as restated) (A) (as restated) (A) (In thousands except per share data) Revenue $ 24,551 $ 34,614 $ 38,918 $ 46,216 $ 144,299 Operating loss (13,180) (14,212) (10,420) (6,436) (44,248) Net (loss) income attributable to Net1 (38,880) (34,881) (205) (4,392) (78,358) Continuing (38,601) (48,361) (2,925) (7,327) (97,214) Discontinued $ (279) $ 13,480 $ 2,720 $ 2,935 $ 18,856 Net (loss) income per share, in United States dollars Basic (loss) earnings attributable to Net1 shareholders $ (0.68) $ (0.61) $ - $ (0.08) $ (1.37) Continuing $ (0.68) $ (0.85) $ (0.05) $ (0.13) $ (1.70) Discontinued $ - $ 0.24 $ 0.05 $ 0.05 $ 0.33 Diluted (loss) earnings attributable to Net1 shareholders $ (0.69) $ (0.62) $ - $ (0.08) $ (1.37) Continuing $ (0.69) $ (0.86) $ (0.05) $ (0.13) $ (1.70) Discontinued $ - $ 0.24 $ 0.05 $ 0.05 $ 0.33 (A) Certain amounts have been restated to correct the misstatements discussed in Note 1. The impact of the restatements for the years ended June 30, 2020 and 2019, were first recorded in the unaudited condensed consolidated financial statements included in the Company’s Quarterly Report on Form 10-Q for the three and six months ended December 31, 2020 which was filed on February 4, 2021.
Three Months Ended September 30, 2020 [Member] |
Error Corrections And Prior Period Adjustments Restatement [Line Items] |
Impact Of The Restatement On Financial Statements | Unaudited condensed consolidated statement of operations Three months ended September 30, 2020 (1) As reported Correction As restated (in thousands) Revenue $ 37,113 $ (1,977) $ 35,136 Cost of goods sold, IT processing, servicing and support $ 28,437 $ (1,977) $ 26,460 (1) The error for the three months ended September 30, 2020, also impacted the year ended June 30, 2021, by the same amount and therefore the amounts reported for the year ended June 30, 2021, includes the correction of the error. 25. UNAUDITED QUARTERLY RESULTS (continued) Restatement of financial statements – impact on unaudited quarterly results (continued) Related to overstatement of revenue and cost of goods sold, IT processing, servicing and support (continued) Unaudited Three months ended September 30, 2020 Processing Total Processing fees - as restated (1) $ 16,330 $ 16,929 As reported 18,307 18,906 Correction (1,977) (1,977) South Africa - as restated 14,774 15,373 As reported 16,751 17,350 Correction (1,977) (1,977) Rest of world $ 1,556 $ 1,556 Total revenue, derived from the following geographic locations - as restated $ 21,518 $ 35,136 As reported 23,495 37,113 Correction (1,977) (1,977) South Africa - as restated 19,962 33,580 As reported 21,939 35,557 Correction (1,977) (1,977) Rest of world $ 1,556 $ 1,556 (1) The error for the three months ended September 30, 2020, also impacted the year ended June 30, 2021 , by the same amount and therefore the amounts reported for the year ended June 30, 2021, include the correction of the error. Unaudited Revenue (as restated) Reportable Segment Corporate/ Eliminations Inter- segment From external customers Processing - as restated (1) $ 22,506 $ - $ 988 $ 21,518 As reported 24,483 - 988 23,495 Correction (1,977) - - (1,977) Total for the three months ended September 30, 2020 - as restated 36,982 - 1,846 35,136 As reported 38,959 - 1,846 37,113 Correction $ (1,977) $ - $ - (1,977) (1) The error for the three months ended September 30, 2020, also impacted the year ended June 30, 2021, by the same amount and therefore the amounts reported for the year ended June 30, 2021, include the correction of the error.

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