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Operating Segments | 9 Months Ended
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Mar. 31, 2024
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, 2023. The Company analyzes its business and operations in terms of two inter-related but independent operating segments: (1) Consumer Division (“Consumer”) and (2) Merchant Division (“Merchant”). The reconciliation of the reportable segment’s revenue to revenue from external customers for the three months ended March 31, 2024 and 2023, is as follows: Revenue Reportable Segment Inter- segment From external customers Merchant $ 121,013 $ 723 $ 120,290 Consumer 17,904 - 17,904 Total for the three months ended March 31, 2024 $ 138,917 $ 723 $ 138,194 Merchant $ 118,092 $ - $ 118,092 Consumer 15,876 - 15,876 Total for the three months ended March 31, 2023 $ 133,968 $ - $ 133,968 17. Operating segments (continued) Operating segments (continued) The reconciliation of the reportable segment’s revenue to revenue from external customers for the nine months ended March 31, 2024 and 2023, is as follows: Revenue Reportable Segment Inter- segment From external customers Merchant $ 370,244 $ 2,259 $ 367,985 Consumer 50,191 - 50,191 Total for the nine months ended March 31, 2024 $ 420,435 $ 2,259 $ 418,176 Merchant $ 348,508 $ - $ 348,508 Consumer 46,314 - 46,314 Total for the nine months ended March 31, 2023 $ 394,822 $ - $ 394,822 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’s reportable segments’ measure of profit or loss. The Company does not allocate once-off items, stock-based compensation charges, certain lease expenses (“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), interest income, interest expense, income tax expense or (earnings) 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. Unrealized loss FV for currency adjustments represents foreign currency mark-to-market adjustments on certain intercompany accounts. The Lease adjustments reflect lease expenses 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. The reconciliation of the reportable segments’ measure of profit or loss to loss before income taxes for the three and nine months ended March 31, 2024 and 2023, is as follows: Three months ended Nine months ended March 31, March 31, 2024 2023 2024 2023 Reportable segments' measure of profit or loss $ 12,752 $ 9,939 $ 34,934 $ 26,136 Operating loss: Group costs (2,199) (2,293) (6,032) (6,849) Once-off costs (907) (1,141) (169) (1,858) Unrealized Loss FV for currency adjustments (121) (43) (101) (43) Lease adjustments (850) (696) (2,224) (2,255) Stock-based compensation charge adjustments (2,090) (1,644) (5,653) (5,955) Depreciation and amortization (5,791) (5,975) (17,460) (17,892) Reversal of allowance of EMI doubtful debt - - 250 - Gain on disposal of equity-accounted investments - (329) - (193) Interest income 628 469 1,562 1,269 Interest expense (4,581) (4,984) (14,312) (13,408) Loss before income tax expense $ (3,159) $ (6,697) $ (9,205) $ (21,048) 17. Operating segments (continued) Operating segments (continued) The following tables summarize supplemental segment information for the three and nine months ended March 31, 2024 and 2023: Three months ended Nine months ended March 31, March 31, 2024 2023 2024 2023 Revenues Merchant $ 121,013 $ 118,092 $ 370,244 $ 348,508 Consumer 17,904 15,876 50,191 46,314 Total reportable segment revenue 138,917 133,968 420,435 394,822 Segment Adjusted EBITDA Merchant (1) 8,394 8,290 25,148 25,303 Consumer (1) 4,358 1,649 9,786 833 Total Segment Adjusted EBITDA 12,752 9,939 34,934 26,136 Depreciation and amortization Merchant 2,050 1,898 6,169 5,522 Consumer 179 288 527 811 Subtotal: Operating segments 2,229 2,186 6,696 6,333 Group costs 3,562 3,789 10,764 11,559 Total 5,791 5,975 17,460 17,892 Expenditures for long-lived assets Merchant 2,797 3,020 7,638 10,545 Consumer 146 1,697 312 2,665 Subtotal: Operating segments 2,943 4,717 7,950 13,210 Group costs - - - - Total $ 2,943 $ 4,717 $ 7,950 $ 13,210 (1) Segment Adjusted EBITDA for Consumer includes retrenchment costs of $ 0.01 million (ZAR 0.1 million) for the three months ended March 31, 2024. Segment Adjusted EBITDA for Merchant includes retrenchment costs of $ 0.2 million (ZAR 4.7 million) and Consumer includes retrenchment costs of $ 0.2 million (ZAR 2.9 million) for the nine months ended March 31, 2024. 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.

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- 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 -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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