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Equity-Accounted Investments And Other Long-Term Assets (Tables) | 12 Months Ended
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Jun. 30, 2022
Ownership Percentage Of Equity-Accounted Investments |
|  |  |  |  |  |  |  | June 30, |  | June 30,
|  |  |  |  |  |  |  | 2022 |  | 2021
| Finbond Group Limited (“Finbond”) | 29 | % |  | 31 | %
| Sandulela Technology Proprietary Limited ("Sandulela") | 49 | % |  | - | %
| Carbon | 25 | % |  | 25 | %
| SmartSwitch Namibia (Pty) Ltd (“SmartSwitch Namibia”) | 50 | % |  | 50 | %
Summary Of Movement In Equity-Accounted Investments |
|  |  |  |  |  |  |  | Finbond |  | Bank Frick |  | Other(1) |  | Total
| Investment in equity |  |  |  |  |  |  |  |  |  |  |
|  | Balance as of June 30, 2020 | $ | 30,876 |  | $ | 29,739 |  | $ | 4,601 |  | $ | 65,216
|  |  | Stock-based compensation |  | (25) |  |  | - |  |  | - |  |  | (25)
|  |  | Comprehensive (loss) income: |  | (23,976) |  |  | 1,156 |  |  | (4,025) |  |  | (26,845)
|  |  |  | Other comprehensive income |  | (1,967) |  |  | - |  |  | - |  |  | (1,967)
|  |  |  | Equity accounted (loss) earnings |  | (22,009) |  |  | 1,156 |  |  | (4,025) |  |  | (24,878)
|  |  |  |  | Share of net income (loss) |  | (4,359) |  |  | 1,156 |  |  | (531) |  |  | (3,734)
|  |  |  |  | Impairment |  | (17,650) |  |  | - |  |  | (3,494) |  |  | (21,144)
|  |  | Dividends received |  | - |  |  | - |  |  | (194) |  |  | (194)
|  |  | Sale of Bank Frick and Walletdoc |  | - |  |  | (32,892) |  |  | (13) |  |  | (32,905)
|  |  | Foreign currency adjustment(2) |  | 2,947 |  |  | 1,997 |  |  | (187) |  |  | 4,757
|  |  | Balance as of June 30, 2021 |  | 9,822 |  |  | - |  |  | 182 |  |  | 10,004
|  |  | Stock-based compensation |  | 14 |  |  | - |  |  | - |  |  | 14
|  |  | Comprehensive (loss) income: |  | (2,426) |  |  | - |  |  | 16 |  |  | (2,410)
|  |  |  | Other comprehensive income |  | 1,239 |  |  | - |  |  | - |  |  | 1,239
|  |  |  | Equity accounted (loss) earnings |  | (3,665) |  |  | - |  |  | 16 |  |  | (3,649)
|  |  |  |  | Share of net income (loss) |  | (3,665) |  |  | - |  |  | 16 |  |  | (3,649)
|  |  | Dividends received |  | - |  |  | - |  |  | (155) |  |  | (155)
|  |  | Sale of shares in equity-accounted investment |  | (630) |  |  | - |  |  | - |  |  | (630)
|  |  | Equity-accounted investment acquired in business combination (Note 3) |  | - |  |  | - |  |  | 74 |  |  | 74
|  |  | Foreign currency adjustment(2) |  | (1,020) |  |  | - |  |  | (16) |  |  | (1,036)
|  | Balance as of June 30, 2022 | $ | 5,760 |  | $ | - |  | $ | 101 |  | $ | 5,861
| Investment in loans: |  |  |  |  |  |  |  |  |  |  |
|  | Balance as of June 30, 2020 | $ | - |  | $ | - |  | $ | 620 |  | $ | 620
|  |  | Loans repaid |  | - |  |  | - |  |  | (134) |  |  | (134)
|  |  | Loans granted |  | - |  |  | - |  |  | 1,238 |  |  | 1,238
|  |  | Allowance for doubtful loans |  | - |  |  | - |  |  | (1,738) |  |  | (1,738)
|  |  | Foreign currency adjustment(2) |  | - |  |  | - |  |  | 14 |  |  | 14
|  | Balance as of June 30, 2021 |  | - |  |  | - |  |  | - |  |  | -
|  |  | Foreign currency adjustment(2) |  | - |  |  | - |  |  | - |  |  | -
|  | Balance as of June 30, 2022 | $ | - |  | $ | - |  | $ | - |  | $ | -
|  |  |  |  |  |  |  |  |  |  | Equity |  | Loans |  | Total
| Carrying amount as of : |  |  |  |  |  |  |  |  |  |  |
|  |  | June 30, 2021 |  |  |  | $ | 10,004 |  | $ | - |  | $ | 10,004
|  |  | June 30, 2022 |  |  |  | $ | 5,861 |  | $ | - |  | $ | 5,861
(1) Includes Carbon, Sandulela, SmartSwitch Namibia, V2 and Walletdoc; (2) The foreign currency adjustment represents the effects of the fluctuations of the Swiss franc, ZAR, Nigerian naira and Namibian dollar, against the U.S. dollar on the carrying value. 9.Equity-accounted investments and other long-term assets (continued)
Summary Financial Information Of Equity-Accounted Investments |
|  |  |  |  |  |  |  |  | Finbond(1) | Bank Frick(2) | DNI | Other(3)
| Balance sheet, as of |  |  | February 28 |  | June 30 |  | June 30 |  | Various
|  | Current assets(4) |  |  |  |  |  |  |  |  |
|  |  | 2022 |  | $ | n/a | $ | n/a | $ | n/a | $ | 25,160
|  |  | 2021 |  |  | n/a |  | n/a |  | n/a |  | 24,151
|  | Long-term assets |  |  |  |  |  |  |  |  |
|  |  | 2022 |  |  | 300,253 |  | n/a |  | n/a |  | 4,934
|  |  | 2021 |  |  | 278,941 |  | n/a |  | n/a |  | 5,013
|  | Current liabilities(4) |  |  |  |  |  |  |  |  |
|  |  | 2022 |  |  | n/a |  | n/a |  | n/a |  | 28,025
|  |  | 2021 |  |  | n/a |  | n/a |  | n/a |  | 27,002
|  | Long-term liabilities |  |  |  |  |  |  |  |  |
|  |  | 2022 |  |  | 234,154 |  | n/a |  | n/a |  | 5,733
|  |  | 2021 |  |  | 200,622 |  | n/a |  | n/a |  | 5,734
|  | Non-controlling interest |  |  |  |  |  |  |  |  |
|  |  | 2022 |  |  | 11,781 |  | n/a |  | n/a |  | -
|  |  | 2021 |  |  | 13,090 |  | - |  | n/a |  | -
| Statement of operations, for the period ended |  | February 28 |  | June 30(2) |  | June 30(5) |  | Various
|  | Revenue |  |  |  |  |  |  |  |  |
|  |  | 2022 |  |  | 80,656 |  | n/a |  | n/a |  | 4,100
|  |  | 2021 |  |  | 95,847 |  | 35,641 |  | n/a |  | 6,420
|  |  | 2020 |  |  | 161,378 |  | 37,864 |  | 68,983 |  | 7,842
|  | Operating income (loss) |  |  |  |  |  |  |  |  |
|  |  | 2022 |  |  | (21,017) |  | n/a |  | n/a |  | 323
|  |  | 2021 |  |  | (18,980) |  | 3,860 |  | n/a |  | (2,406)
|  |  | 2020 |  |  | 17,483 |  | 4,815 |  | 24,563 |  | (5,064)
|  | Income (loss) from continuing operations |  |  |  |  |  |  |  |
|  |  | 2022 |  |  | (18,379) |  | n/a |  | n/a |  | 182
|  |  | 2021 |  |  | (15,466) |  | 3,303 |  | n/a |  | (2,534)
|  |  | 2020 |  |  | 14,449 |  | 4,053 |  | 17,092 |  | (5,116)
|  | Net income (loss) |  |  |  |  |  |  |  |  |
|  |  | 2022 |  |  | (16,432) |  | n/a |  | n/a |  | 182
|  |  | 2021 |  |  | (17,889) |  | 3,303 |  | n/a |  | (2,534)
|  |  | 2020 |  | $ | 6,433 | $ | 4,053 | $ | 15,772 | $ | (5,014)
(1) Finbond balances included were derived from its publicly available information and presented for its years ended February; (2) Bank Frick disposed of in February 2021. Statement of operations information for Bank Frick is for the period from July 1, 2020 to January 31, 2021, and the full twelve months for fiscal 2020. (3) Includes Carbon, SmartSwitch Namibia, Sandulela, Revix, Walletdoc and V2, as appropriate. Balance sheet information for Carbon, Sandulela, and SmartSwitch Namibia is as of June 30, 2022 and 2021, respectively. Statement of operations information for Carbon, SmartSwitch Namibia, Revix, and V2 for the year ended June 30, and Walletdoc for the year ended February 28/29 (as appropriate); (4) Bank Frick and Finbond are banks and do not present current and long-term assets and liabilities. All assets and liabilities of these two entities are included under the long-term caption; (5) Statement of operations information for DNI is for the period from July 1, 2019 to March 31, 2020. 9.Equity-accounted investments and other long-term assets (continued)
Summary Of Other Long-Term Asset |
|  |  |  |  |  |  |  | June 30, |  | June 30,
|  |  |  |  |  |  |  | 2022 |  | 2021
| Total equity investments | $ | 76,297 |  | $ | 76,297
|  |  | Investment in 10% (2021: 11%) of MobiKwik(1) |  | 76,297 |  |  | 76,297
|  |  | Investment in 15% of Cell C, at fair value (Note 6) |  | - |  |  | -
|  |  | Investment in 87.50% of CPS (Note 24)(1)(2) |  | - |  |  | -
| Total held to maturity investments |  | - |  |  | -
|  |  | Investment in 7.625% of Cedar Cellular Investment 1 (RF) (Pty) Ltd 8.625% notes(3) |  | - |  |  | -
| Long-term portion of amount due related to sale of interest in Bank Frick(4) |  | - |  |  | 3,890
| Policy holder assets under investment contracts (Note 11) |  | 371 |  |  | 381
| Reinsurance assets under insurance contracts (Note 11) |  | 1,424 |  |  | 1,298
|  |  | Total other long-term assets | $ | 78,092 |  | $ | 81,866
(1) The Company determined that MobiKwik and CPS do not have readily determinable fair values and therefore elected to record these investments at cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. (2) On October 16, 2020, the High Court of South Africa, Gauteng Division, Pretoria ordered that CPS be placed into liquidation. (3) The note is included in accounts receivable, net and other receivables as of June 30, 2022 (refer to Note 4). (4) Long-term portion of amount due related to sale of interest in Bank Frick represents the amount that was due by the purchaser in July 2022, but was actually received in May 2022.
Summary Of Components Of Equity Securities Without Readily Determinable Fair Value And Held To Maturity Investments |
|  |  |  |  |  |  |  |  |  |  | Cost basis |  |  | Unrealized holding |  |  | Unrealized holding |  |  | Carrying
|  |  |  |  |  |  |  |  |  |  |  |  | gains |  |  | losses |  |  | value
| Equity securities: |  |  |  |  |  |  |  |  |  |  |
|  | Investment in Mobikwik | $ | 26,993 |  | $ | 49,304 |  | $ | - |  | $ | 76,297
|  | Investment in CPS |  | - |  |  | - |  |  | - |  |  | -
| Held to maturity: |  |  |  |  |  |  |  |  |  |  |
|  | Investment in Cedar Cellular notes |  | - |  |  | - |  |  | - |  |  | -
|  |  |  | Total | $ | 26,993 |  | $ | 49,304 |  | $ | - |  | $ | 76,297
|  |  |  |  |  |  |  |  |  |  | Cost basis |  |  | Unrealized holding |  |  | Unrealized holding |  |  | Carrying
|  |  |  |  |  |  |  |  |  |  |  |  | gains |  |  | losses |  |  | value
| Equity securities: |  |  |  |  |  |  |  |  |  |  |
|  | Investment in MobiKwik | $ | 26,993 |  | $ | 49,304 |  | $ | - |  | $ | 76,297
|  | Investment in CPS |  |  |  |  |  |  |  |  |  |  |
| Held to maturity: |  |  |  |  |  |  |  |  |  |  |
|  | Investment in Cedar Cellular notes |  | - |  |  | - |  |  | - |  |  | -
|  |  |  | Total | $ | 26,993 |  | $ | 49,304 |  | $ | - |  | $ | 76,297
Summary Of Contractual Maturity Of Investment |
|  |  |  |  |  |  |  |  | Cost basis |  |  | Estimated fair value(1) |
| Due in one year or less | $ | - |  | $ | - |
| Due in one year through five years(2) |  | - |  |  | - |
| Due in five years through ten years |  | - |  |  | - |
| Due after ten years |  | - |  |  | - |
|  |  | Total | $ | - |  | $ | - |
(1) The estimated fair value of the Cedar Cellular note has been calculated utilizing the Company’s portion of the assets held by Cedar Cellular, namely, Cedar Cellular’s investment in Cell C. (2) The cost basis is zero ($0.0 million).
Finbond Group Limited [Member] |
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block] |
|  |  |  |  |  | Year ended June 30 |
|  | 2022 |
| Loss on disposal of Finbond shares: |  |  |
| Consideration received in cash | $ | 865 |
| Less: carrying value of Finbond shares sold |  | (630) |
| Less: release of foreign currency translation reserve from accumulated other comprehensive loss |  | (620) |
| Add: release of stock-based compensation charge related to equity-accounted investment |  | 9 |
|  | Loss on sale of Finbond shares | $ | (376) |
Disposal Of DNI On April 1, 2020 [Member] |
Schedule Of Calculation Of Gain (Loss) On Disposal |
|  |  |  |  |  | April 1 |
|  | 2020 |
| Consideration received in cash on April 1, 2020 - 26,886,310 shares | $ | 42,477 |
| Consideration received with note on April 1, 2020 - present value of note - 3,508,455 shares |  | 5,354 |
| Less: transaction costs |  | (1,010) |
| Less: carrying value of DNI |  | (36,508) |
| Less: release of foreign currency translation reserve from accumulated other comprehensive loss |  | (11,323) |
|  | Loss on sale of DNI before tax |  | (1,010) |
|  | Taxes related to sale of DNI |  | - |
|  |  | Capital gains tax related to sale of DNI(1) |  | 2,475 |
|  |  | Utilization of capital loss carryforwards(1) |  | (2,475) |
|  |  |  | Loss on disposal of DNI after tax | $ | (1,010) |
Disposal Of Bank Frick on February 3, 2021 [Member] |
Schedule Of Calculation Of Gain (Loss) On Disposal |
|  |  |  |  |  | February
|  | 2021
| Loss on sale of Bank Frick: |  |
| Consideration received in cash on February 3, 2021 | $ | 18,600
| Consideration received with note on February 3, 2021, refer to (Note 4) |  | 11,400
| Less: transaction costs |  | (42)
| Less: carrying value of Bank Frick |  | (32,892)
| Add: release of foreign currency translation reserve from accumulated other comprehensive loss |  | 2,462
|  | Loss on sale of Bank Frick(1) | $ | (472)
(1) The Company did not pay taxes related to the sale of Bank Frick because the base cost of its investment exceeded the sales consideration received. The Company does not believe that it will be able to utilize any capital loss, if any, generated because Net1 LI does not own any other capital assets and has since been deregistered.

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