Q2 2026 Nayax Ltd Earnings Call Transcript

Aug 10, 2026 / 12:30 PM GMT

Transcript

Key Points

Positve

Revenue increased 28% to approximately $123 million, with organic growth of 21% in Q2 and 24% in the first half, in line with guidance.
Recurring revenue grew 24% and represented 72% of total revenue, with processing and SaaS margins expanding to 41% and 76%, respectively.
Installed base grew to over 1.55 million devices and customer base to 125,000, with net revenue retention around 120% and historically low churn.
Average revenue per unit (ARPU) increased 13% year-over-year to $251, driven by cash-to-cashless conversion and higher-value verticals like EV charging.
Filed for a Connecticut bank charter to expand embedded financial services, leveraging in-house lending, issuing, and loyalty capabilities to capture more wallet share from existing merchants.
EV charging business is accelerating, with LinkWell becoming the second-largest charging network in New York and seventh in the U.S., and DC fast charger deployments more than doubling pre-acquisition pace.

Negative

Adjusted EBITDA increased only 12% to $14 million, impacted by a $2.3 million headwind from Israeli shekel appreciation.
Free cash flow was negative $13.1 million in Q2, and full-year free cash flow conversion guidance was revised down to 5%-10% of adjusted EBITDA due to accelerated investments.
Hardware gross margin declined to 28.1% due to product mix (LinkWell) and higher freight costs, though expected to improve in H2.
Net loss of $10.1 million in Q2, driven by a significant increase in non-cash stock-based compensation of $12.4 million, including one-time awards.
Stock-based compensation is expected to be approximately $27 million for 2026, representing about 5% of revenue, which may dilute earnings.
The bank charter approval is not guaranteed and is expected to take about six months, with operational contribution not expected until 2027.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

NYAX.TA - Nayax Ltd.
Q2 2026 Nayax Ltd Earnings Call
Aug 10, 2026 / 12:30PM GMT

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Presentation
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Unidentified_1 [1]
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Hello everyone and welcome to NIACS's second quarter 2026 earnings conference call.

All participants are present in a listen-only mode.

Following management's formal presentation, instructions will be given for the question-and-answer session. As a reminder, this conference is being recorded.

I'll now turn the call over to Mr. Aaron Greenberg.

Please go ahead, Aaron.

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Unidentified_2 [2]
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Thank you, operator, and everyone for joining us today on this conference call. With me on the call today are Dahir Nikmad, Naix co-founder and Chief

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