Lesaka Technologies, Inc. (NASDAQ:LSAK) Q2 2023 Earnings Call Transcript

All of that data is attached to an algorithm, which allows us to — allow our retailers to take advantage of an opportunity when it knocks. Now, there’s an old saying opportunity doesn’t knock at whispers. And if you’re an entrepreneur, you’ve got to take advantage of it immediately. So the intrinsic advantage we have is really the speed and our ability to turn that round within minutes. So the conventional approach, which is I need management accounts, audited accounts, a credit committee and will revert within a few days is not a model that really is appropriate for the type of retailers that we’re dealing with. And then, of course, on the back of that, we continue to innovate in terms of added-value beyond simply the speed to market.

Rob Fink: Well, great. And guys, we’re at our last question. And this is another question for David Garrity, and it’s for Chris. Chris, do you have an authorization to repurchase shares in the market — in the open market? If so, what is the size of the repurchase facility? What are your plans there to exercise the authorization if any?

Chris Meyer: Thank you for the question. Yes, we do have a capacity or a facility rather to repurchase shares in the market. And I’ll confirm the exact size for you or flatten out of the numbers with me here. But yes, the business does have that authority or ability to repurchase. I think the broader question around share buybacks, for us, as I’ve said before, our focus has been around stabilizing the business. It’s been about — on the consumer side and it’s been about integrating the Connect acquisition and focusing on delivering the growth journey that you’ve been hearing about here today. So as our first quarter have actually generating cash in the business at an operational level, we feel we’ve turned a real milestone. And our focus continues to be to reduce that debt to EBITDA ratio on a net debt basis.

As we said, a net debt to EBITDA, we’re now at 3.3 times. We’d like to see that come down a little bit more. So all of these things are sort of immediate focus areas around cash and our resources in the business. And we believe we are producing and delivering a business that has excellent returns to shareholders, return on your capital. And we’d hope to start to see that coming through and continue to coming through in the quarters ahead. So yes, we’ll monitor the situation. We’ll continue to focus on where we are and we’re very alive to this question, we get it quite a lot.

Rob Fink: Well, Chris, everyone, thank you for your time. Thank you everybody for joining us today. We’ve run out of time. That concludes the call. I would encourage any investors who didn’t get a chance to ask a question or have more questions to reach out to the IR team, we are here 24/7. Thank you.