Net 1 Reports Fourth Quarter and Year End 2021 Results

About this update from Lesaka Technologies, Inc.

[{"type":"text","content":"JOHANNESBURG, South Africa, Sept. 13, 2021 (GLOBE NEWSWIRE) -- Net 1 UEPS Technologies, Inc. (Nasdaq: UEPS; JSE: NT1) today released results for the fourth quarter and year ended June 30, 2021. Financial Highlights: Net increase of approximately 23,000 EasyPay Everywhere (EPE) account holders during Q4 2021, and an additional 61,000 – combined – in July and August of 2021;Non-cash increase of $23.4 million in Q4 2021, before tax effect, in the fair value of investment in MobiKwik;At June 30, 2021, unrestricted cash of $199 million and no debt;Revenue of $34.5 million in Q4 2021, an increase of 20% from Q3 2021;Operating loss of $(13.6) million in Q4 2021;GAAP EPS of $0.03 and Fundamental EPS loss of $(0.18) in Q4 2021; andAdjusted EBITDA loss of $8.2 million in Q4 2021, a $4.6 million improvement from Q3 2021 following the closure of IPG. “Fiscal Year 2021 was a challenging year for Net 1, South Africa and the global economy - but it has also been a productive period for the company,” said Chris Meyer, Group CEO of Net 1. “Our core purpose is to improve people’s lives by bringing financial inclusion to South Africa’s underserved consumers and helping small businesses access the financial services they need to prosper. We believe we have the right team, strategy, technology and operations in place to position the Company to effectively serve the large addressable market in South Africa and provide growth for all stakeholders.” Summary Financial Metrics Q4 2021 Q4 2020 Q3 2021 Q4 ’21 vsQ4 ’20 Q4 ’21vsQ3 ’21 Q4 ’21 vsQ4 ’20 Q4 ’21 vsQ3 ’21 (as restated)(1) (All figures in USD ‘000s except per share data)USD ‘000’s (except per share data) % change in USD % change in ZAR Revenue34,517 24,551 28,828 41% 20% 15% 13%GAAP operating loss(13,600) (13,180) (14,292) 3% (5%) (15%) (10%)Adjusted EBITDA (loss)(2)(8,208) (11,868) (12,823) (31%) (36%) (43%) (39%)GAAP earnings (loss) per share ($)0.03 (0.68) (0.11) nm nm nm nmFundamental loss per share ($)(2)(0.18) (0.21) (0.24) (14%) (25%) (30%) (29%)Fully-diluted shares outstanding (‘000’s)56,937 57,119 56,921 (0%) 0% nm nmAverage period USD/ ZAR exchange rate14.17 17.28 14.96 (18%) (5%) nm nm F2021 F2020 F2021 vsF2020 F2021 vsF2020 (as restated)(1) (All figures in USD ‘000s except per share data)USD ‘000’s (except per share data)% changein USD % changein ZARRevenue130,786 144,299 (9%) (19%)GAAP...

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