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(Loss) Earnings Per Share
 3 Months Ended
Sep. 30, 2025
(Loss) Earnings Per Share [Abstract]  
(Loss) Earnings Per Share
14.
(Loss) Earnings per share
The Company
has issued redeemable
common stock
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 three months ended September 30, 2025 and 2024. Accordingly,
the two-
class method presented below does not include the impact of
any redemption. The Company’s redeemable common stock is described
in Note 14 to the Company’s audited consolidated financial statements included in
its Annual Report on Form 10-K for
the year ended
June 30, 2025.
14.
(Loss) Earnings per share (continued)
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 three months ended September
30, 2025 and
2024,
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
has 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 Company
has excluded
employee stock
options to
purchase
158,479
and
65,173
shares of common stock
from the calculation of
diluted loss per share during
the three months ended
September
30, 2025 and 2024 because the effect would be antidilutive.
The
calculation
of diluted
(loss) earnings
per
share
includes the
dilutive
effect
of
a portion
of the
restricted
stock granted
to
employees
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 for all awards made are discussed in Note 17 to the Company’s audited consolidated financial statements
included in its Annual Report on Form 10-K for the year ended June
30, 2025.
The
following
table
presents
net
loss
attributable
to
Lesaka
and
the
share
data
used
in
the
basic
and
diluted
loss
per
share
computations using the two-class method:
Three months ended
September 30,
2025
2024
(in thousands except
percent and
per share data)
Numerator:
Net loss attributable to Lesaka
$
(4,297)
$
(4,542)
Undistributed (loss) earnings
$
(4,297)
$
(4,542)
Percent allocated to common shareholders (Calculation 1)
97
97
Numerator for (loss) earnings per share: basic and diluted
(4,179)
(4,399)
Continuing
(4,179)
(4,399)
Denominator
Denominator for basic (loss) earnings per share:
Weighted-average
common shares outstanding
79,094
62,265
Denominator for diluted (loss) earnings per share: adjusted weighted
average
common shares outstanding and assuming conversion
79,094
62,265
(Loss) Earnings per share:
Basic
$
(0.05)
$
(0.07)
Diluted
$
(0.05)
$
(0.07)
(Calculation 1)
Basic weighted-average common shares outstanding (A)
79,094
62,265
Basic weighted-average common shares outstanding and unvested restricted
shares
expected to vest (B)
81,327
64,293
Percent allocated to common shareholders
(A) / (B)
97
97
Options to
purchase
6,493,683
shares of
the Company’s
common stock
at prices
ranging from
$
4.87
to $
14.00
per share
were
outstanding during
the three months
ended September
30, 2025, but
were not included
in the computation
of diluted
(loss) earnings
per share because the
options’ exercise price was greater
than the average market
price of the Company’s
common stock. Options to
purchase
4,224,210
shares of the Company’s common stock at prices ranging from
$
4.87
to $
14.00
per share were outstanding during
the three months ended September 30, 2024, but were not included in the computation of diluted (loss) earnings per share because the
options’
exercise
price
was greater
than
the
average
market
price
of
the
Company’s
common
stock.
The options,
which
expire
at
v
arious dates through February 3, 2032, were still outstanding as of September
30, 2025.