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(Loss) Earnings Per Share
 12 Months Ended
Jun. 30, 2024
(Loss) Earnings Per Share [Abstract]  
(Loss) Earnings Per Share
19.
 
(LOSS) EARNINGS PER SHARE
The Company has
 
issued redeemable common
 
stock (refer to Note
 
14) 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 years ended
 
June 30, 2024,
 
2023 and 2022.
 
Accordingly,
the two-class method presented below does not include the impact of
 
any redemption.
 
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 years ended June 30,
 
2024, 2023 and 2022,
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 have
 
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 calculation
 
of diluted
 
(loss) earnings
 
per share
 
includes the
dilutive effect
 
of a portion of
 
the restricted stock
 
granted to employees
 
during the current
 
and previous fiscal
 
periods 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 are
 
discussed in
Note 17. The Company has excluded employee stock options to purchase
46,777
,
112,783
 
and
191,448
 
shares of common stock from
the calculation of diluted
 
loss per share during
 
the years ended June 30,
 
2024, 2023 and 2022, respectively,
 
because the effect would
be antidilutive.
19.
 
(LOSS) EARNINGS PER SHARE (continued)
The following
 
table presents net
 
loss attributable
 
to Lesaka
 
and the share
 
data used in
 
the basic and
 
diluted (loss)
 
earnings per
share computations using the two-class method for the years ended
 
June 30, 2024, 2023 and 2022:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
2024
2023
2022
(in thousands except percent and per share data)
Numerator:
Net loss attributable to Lesaka
$
(17,440)
$
(35,074)
$
(43,876)
Undistributed loss
(17,440)
(35,074)
(43,876)
Percent allocated to common shareholders
(Calculation 1)
95%
95%
98%
Numerator for loss per share: basic and diluted
$
(16,651)
$
(33,407)
$
(43,006)
Denominator
Denominator for basic loss per share:
weighted-average common shares outstanding
61,276
60,134
57,207
Effect of dilutive securities:
Denominator for diluted loss per share: adjusted weighted average
common shares outstanding and assumed conversion
61,276
60,134
57,207
Loss per share:
Basic
 
$
(0.27)
$
(0.56)
$
(0.75)
Diluted
 
$
(0.27)
$
(0.56)
$
(0.75)
(Calculation 1)
Basic weighted-average common shares outstanding (A)
 
61,276
60,134
57,207
Basic weighted-average common shares outstanding and unvested
restricted shares expected to vest (B)
 
64,179
63,134
58,364
Percent allocated to common shareholders
 
(A) / (B)
 
95%
95%
98%
Options to
 
purchase
4,737,543
,
276,616
 
and
186,999
 
shares of
 
the Company’s
 
common stock
 
at prices
 
ranging from
 
$
4.87
 
to
$
14.00
 
(2024), $
4.87
 
to $
11.23
 
(2023) and
 
$
6.20
 
to $
11.23
 
(2022) per share
 
were outstanding
 
during the year
 
ended June 30,
 
2024,
2023 and 2022,
 
respectively, but were not included
 
in the computation
 
of diluted (loss)
 
earnings per share
 
because the options’
 
exercise
prices were greater
 
than the average
 
market price of
 
the Company’s common shares.
 
The options, which
 
expire at various
 
dates through
February 3, 2032, were still outstanding as of June 30, 2024.