Sven's questions to Lesaka Technologies Inc (LSAK) leadership • Q3 2025
Question
Sven inquired about the expected future EBITDA contribution from the Enterprise division and the company's capital expenditure strategy, particularly regarding cash vaults.
Answer
Daniel Smith (Executive) explained that after a 'rebuild' year in FY25, the Enterprise division is expected to contribute over 10% of segment adjusted EBITDA in FY26. Regarding CapEx, he stated that spending will remain stable at ~ZAR 360M annually, emphasizing that strong earnings growth will demonstrate operating leverage. He positioned cash vaults not as a standalone product but as a key part of a holistic merchant offering that digitizes cash to enable cross-selling of higher-margin, asset-light services.