Q1 2025 Nayax Ltd Earnings Call Transcript
Key Points
- Nayax Ltd (NYAX) reported a strong revenue increase of 27% over Q1 2024, reaching $81 million.
- Recurring revenue grew by 35% compared to Q1 2024, representing 77% of total revenue, indicating a strong and resilient business model.
- The company expanded its customer base by more than 30% since Q1 2024, reaching over 100,000 customers.
- Nayax Ltd (NYAX) launched a cloud-based food service kiosk solution in Brazil, expanding its presence in the Latin American market.
- The company reported an adjusted EBITDA of $9.7 million, representing 12% of total revenue, showcasing disciplined focus on profitable growth.
- Free cash flow for the quarter was negative, at minus $5.7 million, mainly due to the timing of cash settlements from processing activities.
- The transaction volume has been flattish for the third consecutive quarter, raising concerns about underlying growth trends.
- There is a potential impact from tariffs on hardware margins, although the company is currently absorbing these costs.
- Foreign currency volatility impacted revenue by approximately $700,000 in the quarter.
- The company faces challenges in expanding its presence in Latin America due to the need for local partnerships and agreements with banks.
Hello everyone and welcome to Nayax's first-quarter 2025 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
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