Q3 2025 Nayax Ltd Earnings Call Transcript
Key Points
- Nayax Ltd (NYAX) achieved net income for the first time in the company's history, marking a significant milestone.
- The company reported record adjusted EBITDA of $11.1 million, representing approximately 13% of total revenue.
- Revenue reached a record $83 million, reflecting a 38% year-over-year growth, driven by both new and existing customer expansion.
- Recurring revenue growth was robust at 49%, highlighting the strength and resilience of Nayax's business model.
- The company expanded its customer base significantly, ending the quarter with approximately 91,000 customers, up from 60,000 in the previous year.
- Nayax Ltd (NYAX) experienced delays in new product certifications, impacting hardware revenue growth for the second half of 2024.
- The company had to adjust its full-year 2024 revenue forecast to a range of $315 million to $320 million, down from the previous guidance of $325 million to $335 million.
- Despite strong performance, Nayax's hardware revenue growth was only 15%, partially impacted by certification delays.
- The slightly lower sequential growth in activated devices reflects lower hardware sales in Q1 2024 compared to Q4 of the previous year.
- The company anticipates slightly lower hardware revenue growth due to certification delays, which may impact future quarters.
Hello, everyone, and welcome to Nayax's third quarter 2024 earnings conference call. (Operator Instructions) As a reminder, this conference is being recorded.
I would now like to turn the call over to Mr. Aaron Greenberg. Please go ahead, Aaron.
Thank you, operator and everyone, for joining us today on this conference call. With me on the call today are Yair Nechmad, Nayax's Co-Founder and Chief Executive Officer; and Sagit Manor, Chief Financial Officer. Following management's prepared remarks, we will open the call for the question-and-answer session.
Our press release and supplementary investor presentation are available on our Investor Relations website at ir.nayax.com. All forward-looking statements on our call today are based on assumptions and therefore, subject to risks and uncertainties that may cause results to differ materially from those projected. We have no obligation to update these statements, except as required by law.
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