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Earnings (Loss) Per Share
 6 Months Ended
Dec. 31, 2025
Earnings (Loss) Per Share [Abstract]  
Earnings (Loss) Per Share
14.
Earnings (Loss) 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 December 31,
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.
Basic earnings (loss) 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 earnings (loss)
per share
has been calculated using the two-class method and basic earnings (loss) per share
for the three months ended December 31, 2025 and
2024,
reflects only undistributed earnings. The computation below of basic earnings (loss) 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 earnings
(loss) 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 earnings (loss) 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
257,445
shares of
common stock
from the
calculation of
diluted loss
per share
during the
three months
ended December
31, 2024
because the effect would be antidilutive. The Company has excluded employee stock options to purchase
138,158
and
338,725
shares
of common stock from the calculation of diluted loss per share during the six months ended December 31, 2025 and 2024 because the
effect would be antidilutive.
The
calculation
of diluted
earnings
(loss)
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
earnings
(loss) 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.
14.
Earnings (Loss) per share (continued)
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
Six months ended
December 31,
December 31,
2025
2024
2025
2024
(in thousands except
(in thousands except
percent and
percent and
per share data)
per share data)
Numerator:
Net income (loss) attributable to Lesaka
(A)
$
3,645
$
(32,456)
$
(1,013)
$
(37,306)
Undistributed earnings (loss)
(A)
3,645
(32,456)
(1,013)
(37,306)
Percent allocated to common shareholders
(Calculation 1)
97%
97%
97%
97%
Numerator for earnings (loss) per share: basic
and diluted
$
3,524
$
(31,345)
$
(983)
$
(36,038)
Denominator
Denominator for basic earnings (loss) per share:
Weighted-average
common shares outstanding
79,002
77,024
79,048
69,589
Effect of dilutive securities:
Related to acquisitions
999
-
-
-
Stock options
118
-
-
-
Denominator for diluted earnings (loss)
per share: adjusted weighted average
common shares outstanding and assuming
conversion
80,119
77,024
79,048
69,589
Earnings (Loss) per share:
Basic
(A)
$
0.04
$
(0.40)
$
(0.01)
$
(0.52)
Diluted
(A)
$
0.04
$
(0.40)
$
(0.01)
$
(0.52)
(Calculation 1)
Basic weighted-average common shares
outstanding (A)
79,002
77,024
79,048
69,589
Basic weighted-average common shares
outstanding and unvested restricted shares
expected to vest (B)
81,719
79,753
81,435
72,037
Percent allocated to common shareholders
(A) / (B)
97%
97%
97%
97%
(A) Net income (loss) attributable to Lesaka and Undistributed earnings (loss)
for the three and six months ended December 31,
2024, have
decreased by
$
0.3
million and
$
0.6
million, respectively,
as a
result of
the correction
discussed in
Note 1.
Net income
(loss) attributable
to Lesaka
and Undistributed
earnings (loss)
for the
six months
ended December
31, 2025,
has decreased
by $
0.4
million, as a
result of the
correction, as discussed
in Note 1,
to the amount
included in the
captions
Net income (loss)
attributable to
Lesaka and Undistributed
earnings (loss) for
the three months ended
September 30, 2025.
The correction of
the error did not
impact
Basic and Diluted
loss per share for
the three months ended
December 31, 2024,
or the six months
ended December 31, 2025.
Basic
and Diluted loss per share for the six months ended December 31, 2024, each decreased
by $
0.01
(one U.S. cent).
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
and six months ended December
31, 2025, but were not
included in the computation of
diluted earnings
(loss) per share
because the options’
exercise price was
greater than the
average market price
of the Company’s common
stock. Options
to purchase
4,743,500
shares of
the Company’s
common stock
at prices
ranging from
$
6.00
to $
14.00
per share
were outstanding
during the three and
six months ended
December 31, 2024, but
were not included in
the computation of diluted
(loss) 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 December
31, 2025.