XML 38 R25.htm IDEA: XBRL DOCUMENT
v3.22.4

Operating Segments | 6 Months Ended
--- | ---
Dec. 31, 2022
Operating Segments [Abstract] |
Operating Segments | 17. Operating segments Operating segments The Company discloses segment information as reflected in the management information systems reports that its chief operating decision maker uses in making decisions and to report certain entity-wide disclosures about products and services, and the countries in which the entity holds material assets or reports material revenues. A description of the Company’s operating segments is contained in Note 21 to the Company’s audited consolidated financial statements included in its Annual Report on Form 10-K for the year ended June 30, 2022. Reallocation of certain activities in Other to Merchant During the second quarter of fiscal 2023, certain processing activities performed outside South Africa which were within our Other operating segment commenced reporting to management within our Merchant operating segment as part of the integration of Connect. The Company has allocated these operations from its Other reporting segment to Merchant in its reportable segments during the second quarter of fiscal 2023. Previously reported information has been restated. The reconciliation of the reportable segment’s revenue to revenue from external customers for the three months ended December 31, 2022 and 2021, is as follows:
|  |  |  |  |  | Revenue
|  |  |  |  |  | Reportable Segment |  |  | Inter-segment |  |  | From external customers
| Consumer | $ | 15,434 |  | $ | - |  | $ | 15,434
| Merchant |  | 120,634 |  |  | - |  |  | 120,634
|  | Total for the three months ended December 31, 2022 | $ | 136,068 |  | $ | - |  | $ | 136,068
| Consumer | $ | 16,639 |  | $ | - |  | $ | 16,639
| Merchant |  | 14,475 |  |  | - |  |  | 14,475
|  |  | Total for the three months ended December 31, 2021 | $ | 31,114 |  | $ | - |  | $ | 31,114
The reconciliation of the reportable segment’s revenue to revenue from external customers for the six months ended December 31, 2022 and 2021, is as follows:
|  |  |  |  |  | Revenue
|  |  |  |  |  | Reportable Segment |  |  | Inter-segment |  |  | From external customers
| Consumer | $ | 30,438 |  | $ | - |  | $ | 30,438
| Merchant |  | 230,416 |  |  | - |  |  | 230,416
|  | Total for the six months ended December 31, 2022 | $ | 260,854 |  | $ | - |  | $ | 260,854
| Consumer | $ | 33,803 |  | $ | - |  | $ | 33,803
| Merchant |  | 31,815 |  |  | - |  |  | 31,815
|  |  | Total for the six months ended December 31, 2021 | $ | 65,618 |  | $ | - |  | $ | 65,618
The Company evaluates segment performance based on segment earnings before interest, tax, depreciation and amortization (“EBITDA”), adjusted for items mentioned in the next sentence (“Segment Adjusted EBITDA”). The Company does not allocate once-off items, stock-based compensation charges, certain lease charges (“Lease adjustments”), depreciation and amortization, impairment of goodwill or other intangible assets, other items (including gains or losses on disposal of investments, fair value adjustments to equity securities, fair value adjustments to currency options), interest income, interest expense, income tax expense or loss from equity-accounted investments to its reportable segments. Group costs generally include: employee related costs in relation to employees specifically hired for group roles and related directly to managing the US-listed entity; expenditures related to compliance with the Sarbanes-Oxley Act of 2002; non-employee directors’ fees; legal fees; group and US-listed related audit fees; and directors and officer’s insurance premiums. Once-off items represents non-recurring expense items, including costs related to acquisitions and transactions consummated or ultimately not pursued. The Lease adjustments reflect lease charges and the Stock-based compensation adjustments reflect stock-based compensation expense and are both excluded from the calculation of Segment Adjusted EBITDA and are therefore reported as reconciling items to reconcile the reportable segments’ Segment Adjusted EBITDA to the Company’s loss before income tax expense. 17. Operating segments (continued) Operating segments (continued) The reconciliation of the reportable segments measure of profit or loss to loss before income taxes for the three and six months ended December 31, 2022 and 2021, is as follows:
|  |  |  |  | Three months ended |  |  | Six months ended
|  |  |  |  | December 31, |  |  | December 31,
|  |  |  | 2022 |  | 2021 |  | 2022 |  | 2021
| Reportable segments measure of profit or loss | $ | 9,698 |  | $ | (3,362) |  | $ | 16,197 |  | $ | (10,643)
|  | Operating loss: Group costs |  | (2,256) |  |  | (2,076) |  |  | (4,556) |  |  | (3,649)
|  | Once-off items |  | (119) |  |  | (1,642) |  |  | (717) |  |  | (1,885)
|  | Lease adjustments |  | (747) |  |  | (833) |  |  | (1,559) |  |  | (1,757)
|  | Stock-based compensation charge adjustments |  | (2,849) |  |  | (788) |  |  | (4,311) |  |  | (1,097)
|  | Depreciation and amortization |  | (5,919) |  |  | (726) |  |  | (11,917) |  |  | (1,621)
|  | Unrealized loss related to fair value adjustment to currency options |  | - |  |  | (2,429) |  |  | - |  |  | (2,429)
|  | Loss (Gain) on disposal of equity-accounted investment |  | (112) |  |  | - |  |  | 136 |  |  | -
|  | Interest income |  | 389 |  |  | 313 |  |  | 800 |  |  | 702
|  | Interest expense |  | (4,388) |  |  | (765) |  |  | (8,424) |  |  | (1,581)
|  |  | Loss before income taxes | $ | (6,303) |  | $ | (12,308) |  | $ | (14,351) |  | $ | (23,960)
17. Operating segments (continued) Operating segments (continued) The following tables summarize supplemental segment information for the three and six months ended December 31, 2022 and 2021:
|  |  |  |  |  |  |  |  | Three months ended |  | Six months ended
|  |  |  |  |  |  |  |  | December 31, |  | December 31,
|  |  |  |  |  |  |  |  | 2022 |  | 2021 |  | 2022 |  | 2021
| Revenues |  |  |  |  |  |  |  |  |  |  |
|  | Consumer | $ | 15,434 |  | $ | 16,639 |  | $ | 30,438 |  | $ | 33,803
|  | Merchant |  | 120,634 |  |  | 14,475 |  |  | 230,416 |  |  | 31,815
|  |  | Total |  | 136,068 |  |  | 31,114 |  |  | 260,854 |  |  | 65,618
| Segment Adjusted EBITDA |  |  |  |  |  |  |  |  |  |  |
|  | Consumer |  | 578 |  |  | (4,366) |  |  | (816) |  |  | (13,722)
|  | Merchant |  | 9,120 |  |  | 1,004 |  |  | 17,013 |  |  | 3,079
|  |  | Total Segment Adjusted EBITDA |  | 9,698 |  |  | (3,362) |  |  | 16,197 |  |  | (10,643)
| Depreciation and amortization |  |  |  |  |  |  |  |  |  |  |
|  | Consumer |  | 278 |  |  | 499 |  |  | 523 |  |  | 1,151
|  | Merchant |  | 1,823 |  |  | 211 |  |  | 3,624 |  |  | 436
|  |  | Subtotal: Operating segments |  | 2,101 |  |  | 710 |  |  | 4,147 |  |  | 1,587
|  |  | Group costs |  | 3,818 |  |  | 16 |  |  | 7,770 |  |  | 34
|  |  |  | Total |  | 5,919 |  |  | 726 |  |  | 11,917 |  |  | 1,621
| Expenditures for long-lived assets |  |  |  |  |  |  |  |  |  |  |
|  | Consumer |  | 340 |  |  | 168 |  |  | 968 |  |  | 810
|  | Merchant |  | 3,652 |  |  | 21 |  |  | 7,525 |  |  | 77
|  |  | Subtotal: Operating segments |  | 3,992 |  |  | 189 |  |  | 8,493 |  |  | 887
|  |  | Group costs |  | - |  |  | - |  |  | - |  |  | -
|  |  |  | Total | $ | 3,992 |  | $ | 189 |  | $ | 8,493 |  | $ | 887
The segment information as reviewed by the chief operating decision maker does not include a measure of segment assets per segment as all of the significant assets are used in the operations of all, rather than any one, of the segments. The Company does not have dedicated assets assigned to a particular operating segment. Accordingly, it is not meaningful to attempt an arbitrary allocation and segment asset allocation is therefore not presented.

X
- References No definition available. + Details
Name: | us-gaap_SegmentReportingAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 31 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8924-108599 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 34 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8981-108599 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 40 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9031-108599 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 26 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8844-108599 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 41 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9038-108599 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 32 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8933-108599 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8736-108599 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 42 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e9054-108599 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 15 -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8657-108599 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123359005&loc=d3e8721-108599 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 280 -URI http://asc.fasb.org/topic&trid=2134510 + Details
Name: | us-gaap_SegmentReportingDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration