Overview
Nayax Q2 revenue rises 22% to $95.6 mln, driven by customer expansion
Recurring revenue grows 32%, representing 74% of total revenue
Net income reaches $11.7 mln, including one-time gain from Nayax Capital acquisition
Outlook
Nayax reaffirms 2025 revenue growth of 30% to 35%
Company expects 2025 revenue between $410 mln and $425 mln
Nayax projects 2025 adjusted EBITDA of $65 mln to $70 mln
Company targets 50% free cash flow conversion from adjusted EBITDA in 2025
Result Drivers
RECURRING REVENUE GROWTH - Recurring revenue from SaaS and payment processing fees grew 32%, driven by new and existing customer expansion
GROSS MARGIN IMPROVEMENT - Gross margin improved to 48.3% from 44.3% due to renegotiated contracts with bank acquirers and better supply chain management
HARDWARE SALES - Strong demand for products, solutions, and technology in both unattended and attended markets maintained hardware revenue at $24.9 mln
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | $95.60 mln | ||
Q2 Net Income | $11.70 mln | ||
Q2 Adjusted EBITDA | $12.60 mln | ||
Q2 Gross Margin | 48.3% | ||
Q2 Operating Income | $9.50 mln |
Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 3 "hold" and no "sell" or "strong sell"
Wall Street's median 12-month price target for Nayax Ltd is $47.00, about 6.7% above its August 12 closing price of $43.85
The stock recently traded at 50 times the next 12-month earnings vs. a P/E of 61 three months ago
Press Release: ID:nGNX8BBsDw
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)