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(Loss) Earnings Per Share | 12 Months Ended
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Jun. 30, 2023
(Loss) Earnings Per Share [Abstract] |
(Loss) Earnings Per Share | 19. (LOSS) EARNINGS PER SHARE The Company has issued redeemable common stock (refer to Note 14) which is redeemable at an amount other than fair value. Redemption of a class of common stock at other than fair value increases or decreases the carrying amount of the redeemable common stock and is reflected in basic earnings per share using the two-class method. There were no redemptions of common stock, or adjustments to the carrying value of the redeemable common stock during the years ended June 30, 2023, 2022 and 2021. Accordingly, the two-class method presented below does not include the impact of any redemption. Basic (loss) earnings per share includes shares of restricted stock that meet the definition of a participating security because these shares are eligible to receive non -forfeitable dividend equivalents at the same rate as common stock. Basic (loss) earnings per share has been calculated using the two-class method and basic (loss) earnings per share for the years ended June 30, 2023, 2022 and 2021, reflects only undistributed earnings. The computation below of basic (loss) earnings per share excludes the net loss attributable to shares of unvested restricted stock (participating non-vested restricted stock) from the numerator and excludes the dilutive impact of these unvested shares of restricted stock from the denominator. Diluted (loss) earnings per share have been calculated to give effect to the number of shares of additional common stock that would have been outstanding if the potential dilutive instruments had been issued in each period. Stock options are included in the calculation of diluted (loss) earnings per share utilizing the treasury stock method and are not considered to be participating securities, as the stock options do not contain non-forfeitable dividend rights. The calculation of diluted (loss) earnings per share includes the dilutive effect of a portion of the restricted stock granted to employees during the current and previous fiscal periods as these shares of restricted stock are considered contingently returnable shares for the purposes of the diluted (loss) earnings per share calculation and the vesting conditions in respect of a portion of the restricted stock had been satisfied. The vesting conditions are discussed in Note 17. The Company has excluded employee stock options to purchase 112,783 and 191,448 shares of common stock from the calculation of diluted loss per share during the year ended June 30, 2023 and 2022, respectively, because the effect would be antidilutive. 19. (LOSS) EARNINGS PER SHARE (continued) The following table presents net loss attributable to Lesaka and the share data used in the basic and diluted (loss) earnings per share computations using the two-class method for the years ended June 30, 2023, 2022 and 2021: 2023 2022 2021 (in thousands except percent and per share data) Numerator: Net loss attributable to Lesaka $ (35,074) $ (43,876) $ (38,057) Undistributed loss (35,074) (43,876) (38,057) Percent allocated to common shareholders (Calculation 1) 95% 98% 99% Numerator for loss per share: basic and diluted $ (33,407) $ (43,006) $ (37,825) Denominator Denominator for basic loss per share: weighted-average common shares outstanding 60,134 57,207 56,332 Effect of dilutive securities: Stock options - - 259 Denominator for diluted loss per share: adjusted weighted average common shares outstanding and assumed conversion 60,134 57,207 56,591 Loss per share: Basic $ (0.56) $ (0.75) $ (0.67) Diluted $ (0.56) $ (0.75) $ (0.67) (Calculation 1) Basic weighted-average common shares outstanding (A) 60,134 57,207 56,332 Basic weighted-average common shares outstanding and unvested restricted shares expected to vest (B) 63,134 58,364 56,678 Percent allocated to common shareholders (A) / (B) 95% 98% 99% Options to purchase 276,616 , 186,999 and 282,832 shares of the Company’s common stock at prices ranging from $ 4.87 to $ 11.23 (2023), $ 6.20 to $ 11.23 (2022) and $ 6.20 to $ 11.23 (2021) per share were outstanding during the year ended June 30, 2023, 2022 and 2021, respectively, but were not included in the computation of diluted (loss) earnings per share because the options’ exercise prices were greater than the average market price of the Company’s common shares. The options, which expire at various dates through February 3, 2032, were still outstanding as of June 30, 2023.

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