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Equity-Accounted Investments And Other Long-Term Assets (Tables) | 9 Months Ended
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Mar. 31, 2023
Ownership Percentage Of Equity-Accounted Investments |
|  |  |  |  |  |  |  |  |  |  |  |  |  | March 31, |  | June 30, |
|  |  |  |  |  |  |  |  |  |  |  |  |  | 2023 |  | 2022 |
| Finbond Group Limited (“Finbond”) |  | 27.8 | % |  | 29.3 | % |
| Sandulela Technology (Pty) Ltd ("Sandulela") |  | 49.0 | % |  | 49.0 | % |
| Carbon Tech Limited (“Carbon”) |  | - | % |  | 25.0 | % |
| SmartSwitch Namibia (Pty) Ltd (“SmartSwitch Namibia”) |  | 50.0 | % |  | 50.0 | % |
Summary Of Movement In Equity-Accounted Investments |
|  |  |  |  |  |  |  | Finbond |  | Other(1) |  | Total |
| Investment in equity |  |  |  |  |  |  |  |  |
|  | Balance as of June 30, 2022 | $ | 5,760 |  | $ | 101 |  | $ | 5,861 |
|  |  | Stock-based compensation |  | 6 |  |  | - |  |  | 6 |
|  |  | Comprehensive income: |  | 26 |  |  | 49 |  |  | 75 |
|  |  |  | Other comprehensive income |  | 2,657 |  |  | - |  |  | 2,657 |
|  |  |  | Equity accounted (loss) earnings |  | (2,631) |  |  | 49 |  |  | (2,582) |
|  |  |  |  | Share of net (loss) earnings |  | (1,521) |  |  | 49 |  |  | (1,472) |
|  |  |  |  | Impairment |  | (1,110) |  |  | - |  |  | (1,110) |
|  |  | Dividends received |  | - |  |  | (21) |  |  | (21) |
|  |  | Disposal of Finbond shares |  | (506) |  |  | - |  |  | (506) |
|  |  | Foreign currency adjustment(2) |  | (711) |  |  | (9) |  |  | (720) |
|  | Balance as of March 31, 2023 | $ | 4,575 |  | $ | 120 |  | $ | 4,695 |
| Investment in loans: |  |  |  |  |  |  |  |  |
|  | Balance as of June 30, 2022 | $ | - |  | $ | - |  | $ | - |
|  |  | Loans granted |  | - |  |  | 112 |  |  | 112 |
|  |  | Loans repaid |  | - |  |  | (112) |  |  | (112) |
|  |  | Foreign currency adjustment(2) |  | - |  |  | - |  |  | - |
|  | Balance as of March 31, 2023 | $ | - |  | $ | - |  | $ | - |
|  |  |  |  |  |  |  | Equity |  | Loans |  | Total |
| Carrying amount as of : |  |  |  |  |  |  |  |  |
|  |  | June 30, 2022 | $ | 5,861 |  | $ | - |  | $ | 5,861 |
|  |  | March 31, 2023 | $ | 4,695 |  | $ | - |  | $ | 4,695 |
(1) Includes Carbon, Sandulela, and SmartSwitch Namibia; (2) The foreign currency adjustment represents the effects of the fluctuations of the ZAR, Nigerian naira and Namibian dollar, against the U.S. dollar on the carrying value.
Summary Of Other Long-Term Asset |
|  |  |  |  |  |  |  |  |  |  |  |  | March 31, |  |  | June 30,
|  |  |  |  |  |  |  |  |  |  |  |  |  | 2023 |  |  | 2022
| Total equity investments | $ | 76,297 |  | $ | 76,297
|  |  | Investment in 5% of Cell C (June 30, 2022: 15%) at fair value (Note 4) |  | - |  |  | -
|  |  | Investment in 10% of MobiKwik (June 30, 2022: 10%)(1) |  | 76,297 |  |  | 76,297
|  |  | Investment in 87.5% of CPS (June 30, 2022: 87.5%) at fair value(1)(2) |  | - |  |  | -
| Policy holder assets under investment contracts (Note 7) |  | 270 |  |  | 371
| Reinsurance assets under insurance contracts (Note 7) |  | 1,502 |  |  | 1,424
|  |  | Total other long-term assets | $ | 78,069 |  | $ | 78,092
(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.
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 (Note 2) |  | - |  |  | - |  |  | - |  |  | - |
|  |  |  | 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 |
Finbond Group Limited [Member] |
Schedule Of Calculation Of Gain (Loss) On Disposal |
|  |  |  |  |  | Three months ended March 31, |  | Nine months ended March 31,
|  | 2023 |  | 2023
| Loss on disposal of Finbond shares: |  |  |  |  |
| Consideration received in cash | $ | 254 |  | $ | 395
| Less: carrying value of Finbond shares sold |  | (349) |  |  | (509)
| Less: release of foreign currency translation reserve from accumulated other comprehensive loss |  | (243) |  |  | (342)
| Add: release of stock-based compensation charge related to equity-accounted investment |  | 9 |  |  | 13
|  | Loss on sale of Finbond shares | $ | (329) |  | $ | (443)
Carbon [Member] |
Schedule Of Calculation Of Gain (Loss) On Disposal |
|  |  |  |  |  | Three months ended September 30,
|  | 2022
| Gain on disposal of Carbon shares: |  |
| Consideration received in cash in September 2022 | $ | 250
| Less: carrying value of Carbon |  | -
|  | Gain on disposal of Carbon shares:(1) | $ | 250
(1) The Company does not expect to pay taxes related to the sale of Carbon because the base cost of its investment exceeds the sales consideration received. The Company does not believe that it will be able to utilize the loss generated because Net1 BV does not generate taxable income.

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