Q1 2026 Nayax Ltd Earnings Call Transcript
Key Points
- Revenue grew 32% to $107 million, with organic revenue growth of 26%.
- Adjusted EBITDA margin expanded to 13%, demonstrating strong operational leverage.
- Installed base surpassed 1.5 million devices, driving recurring revenue growth.
- Total transaction value grew 33%, with a shift towards higher-value verticals such as EV charging and amusement.
- Hardware sales increased by 46%, driven by strong demand across all markets.
- Hardware margin decreased to 33.1% from 39.5% in the prior year due to product mix and promotions.
- Free cash flow was negative at $6 million, mainly due to infrastructure investments and timing of cash settlements.
- Financial expenses increased by $2.9 million due to interest expenses from bond offerings.
- The take rate decreased from $2.75 to $2.66, influenced by geographical mix.
- Adjusted OpEx had an unfavorable impact of $1.2 million due to foreign currency volatility.
Hello everyone, and welcome to Nayax's first-quarter 2026 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 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.
As a reminder, during this call, we'll be making forward-looking statements. 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
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