Revenue Growth - Full Year 2024 revenue reached $314.0 million, a 33.3% increase from $235.5 million in 2023, with recurring revenue growth of 47.1%[4] - 2025 revenue guidance is set at $410 million to $425 million, indicating a growth rate of 30% to 35%[3] - Nayax expects revenue growth of 30% to 35% for the year ending December 31, 2025, representing a revenue range of $410 million to $425 million on a constant currency basis, with organic revenue growth of at least 25%[21] Financial Performance - Adjusted EBITDA for 2024 was $35.5 million, exceeding guidance, representing a margin of 11.3% of total revenue[9] - Adjusted EBITDA guidance for 2025 is between $65 million and $70 million, with at least 50% conversion from Adjusted EBITDA expected for the full year[21] - The company reported a loss for the year of $5,631 thousand in 2024, an improvement from a loss of $15,887 thousand in 2023[65] - Adjusted EBITDA for 2024 was $35,496,000, a significant increase from $8,147,000 in 2023 and a loss of $12,679,000 in 2022[79] Transaction and Device Metrics - Total transaction value for 2024 grew by 36% to approximately $4.9 billion, with the number of processed transactions increasing by 33% to 2.4 billion[12] - The number of managed and connected devices reached approximately 1.26 million, a 21% increase year-over-year[12] - Recurring revenue accounted for 71% of total revenue, with SaaS revenue growing by 50.3% and payment processing fees by 45.1%[4] Cash Flow and Assets - Free cash flow for 2024 was $18 million, a significant improvement from a negative $7.8 million in the previous year[9] - The company’s cash and cash equivalents increased to $83,130 thousand in 2024, up from $38,386 thousand in 2023, a 116.6% increase[57] - Net cash provided by operating activities increased significantly to $42,902,000 in 2024, compared to $8,798,000 in 2023 and a negative cash flow of $27,547,000 in 2022[71] Market Expansion and Partnerships - The acquisition of UpPay will more than double Nayax's connected devices footprint in Brazil, adding over 25,000 unattended devices, primarily in self-service coffee vending machines[20] - Nayax launched its automated self-service payment solution in El Salvador, enhancing access to cashless payments in an underserved market[19] - The company has introduced attended retail payment solutions in Europe, expanding its reach to 40 new markets and enabling existing customers to access a broader range of solutions[19] - Nayax has partnered with SECO to offer IoT-Integrated Payment Solutions for OEMs, combining secure payments with remote machine management and AI-driven business intelligence[19] Cost Management and Expenses - Gross margin improved to 45.1% from 37.5%, driven by enhancements in recurring and hardware margins[9] - Total operating expenses (OPEX) for 2024 were $135,136,000, compared to $98,678,000 in 2023 and $90,492,000 in 2022[84] - Research and development expenses were $25,374 thousand in 2024, compared to $21,928 thousand in 2023, reflecting a 15.7% increase[62] Balance Sheet and Equity - Total current assets increased to $287,657 thousand in 2024, compared to $203,409 thousand in 2023, representing a 41.5% growth[57] - Total assets grew to $432,893 thousand in 2024, a 33.8% increase from $323,859 thousand in 2023[57] - Total liabilities increased to $267,648 thousand in 2024, compared to $226,269 thousand in 2023, marking an 18.3% rise[60] - Shareholders' equity rose to $165,245 thousand in 2024, up from $97,590 thousand in 2023, indicating a 69.5% increase[60] Future Outlook - Management targets annual revenue growth of approximately 35% by 2028, with a gross margin of 50% and an adjusted EBITDA margin of 30%[23] - The company plans to continue expanding its market presence and investing in new technologies to drive future growth[62]

Financial Performance - The company reported net losses of $37.5 million, $15.9 million, and $5.6 million for the years ended December 31, 2022, 2023, and 2024, respectively[47]. - The company experienced significant revenue growth but faces uncertainties in sustaining or increasing this growth due to market conditions and competition[48]. - The company anticipates moderate increases in operating expenses as it expands its customer base and enhances its platform[48]. - The company has incurred significant compliance costs since listing on Nasdaq in September 2022, including expenses related to the Sarbanes-Oxley Act[179]. - The company has observed an immaterial decrease in demand for its products and services in Israel compared to global demand due to reduced mobility during the war[209]. Customer Growth and Satisfaction - The number of customers increased from approximately 14,000 in 2019 to approximately 95,000 as of December 31, 2024[49]. - The company must effectively manage its growth to maintain high levels of service and customer satisfaction, which is critical given its rapid expansion[49]. - The company’s revenue streams are highly dependent on its business reputation and customer referrals, making high-quality customer support essential[59]. Competition and Market Risks - The company faces significant competition in the payment processing market, requiring constant updates to its services to retain customers[40]. - The company is dependent on the growth of cashless transactions, and any reduction in demand could negatively affect its business[38]. - Political and geopolitical tensions, including U.S.-China trade disputes, could adversely affect the company's operations and financial results[81]. - The ongoing Russia-Ukraine war and Middle East conflicts may disrupt the supply chain and negatively impact sales and earnings[82]. Acquisitions and Expansion - The company announced the acquisition of Retail Pro International for an implied enterprise value of $36.5 million, marking a significant step in its market expansion strategy[66]. - In April 2024, the company completed the acquisition of Roseman Engineering and VMtecnologia LTDA, enhancing its capabilities in smart systems and automated self-service technology in Latin America[66]. - The company is actively engaged in M&A pipeline activity to acquire businesses and technologies that could complement its operations[65]. Operational and Supply Chain Risks - The company is exposed to risks of supply shortages and price fluctuations for key components, which could adversely impact its financial condition and results of operations[44]. - The company relies on a limited number of manufacturers for the assembly of its POS devices, which poses risks if relationships are disrupted or quality control fails[60]. - The ongoing war may lead to negative macro-economic effects in Israel, including inflation and depreciation of the Shekel, which could materially impact the company's business[209]. Regulatory and Compliance Challenges - The company may face regulatory challenges related to its acquisitions, as evidenced by the consent decree with the Israeli Competition Authority regarding the acquisition of OTI[68]. - Compliance with evolving ESG regulations may incur substantial costs and operational challenges for the company[86]. - The company is subject to evolving regulations related to privacy and data protection, which may significantly impact its business practices and operations[103]. - The company is licensed as an Electronic Money Institution in the EU, requiring it to maintain a minimum capital of at least €350,000 and comply with extensive regulatory obligations[154]. Data Security and Privacy - The company faces risks related to data security and privacy, with potential breaches leading to significant reputational and financial damage[94]. - Regulatory requirements for data security breach notifications could lead to costly disclosures and reputational harm[99]. - The California Consumer Privacy Act (CCPA) provides California residents with expanded privacy rights, including the right to access and request deletion of their information, potentially increasing litigation risks[105]. Intellectual Property Risks - The ability to protect and enforce intellectual property rights is crucial for the company’s competitive position, and failure to do so could lead to increased competition and loss of customers[126]. - The company faces potential financial liabilities from intellectual property infringement claims, which could require substantial legal and settlement costs[129]. - The company uses open-source software, which carries risks of non-compliance with licensing terms that could lead to costly claims or the need to re-engineer proprietary software[137]. Human Resources and Management - The company has not developed a succession plan for its senior management, which could harm its business if key personnel leave[71][72]. - The company’s ability to recruit and retain qualified personnel is critical for its growth, and competition for talent is intense[73][74]. Economic and Geopolitical Factors - The company may be impacted by geopolitical uncertainties, including conflicts in Israel and Ukraine, which could affect market conditions and demand for its products[171]. - Rising interest rates and inflation could increase the company's future borrowing costs, as various rating agencies have downgraded Israel's credit ratings in 2024[210]. Shareholder and Market Considerations - As of December 31, 2024, the founding shareholders own approximately 61.02% of the company's outstanding ordinary shares, which may influence corporate decisions significantly[165]. - The market price of the company's ordinary shares is subject to fluctuations due to various factors, including operational performance and market conditions[166]. - The company does not anticipate paying dividends on its ordinary shares in the foreseeable future, which may affect investors' ability to achieve returns solely through price appreciation[177].

Core Insights - Nayax Ltd. reported a full year revenue of $314.0 million, reflecting a 33.3% increase from the previous year, with recurring revenue growth of 47% year-over-year [1][6][11] - The company achieved an adjusted EBITDA of $35.5 million, exceeding guidance, and a free cash flow of $18 million for the year [1][9][19] - For 2025, Nayax expects revenue growth of 30% to 35%, projecting revenue between $410 million and $425 million, with adjusted EBITDA guidance of $65 million to $70 million [19][21] Financial Performance - Full Year 2024 Financial Highlights: - Total revenue reached $314.0 million, up from $235.5 million in 2023, with a constant currency revenue increase of 34% [1][6] - Recurring revenue, which includes SaaS subscription and payment processing fees, totaled $222.3 million, a 47.1% increase from $151.1 million in 2023 [6][11] - Payment processing fees grew by 45.1% to $133.8 million, while SaaS revenue increased by 50.3% to $88.5 million [6][11] Operational Metrics - Total transaction value for the year grew by 36% to nearly $4.9 billion, with the number of processed transactions increasing by 33% to approximately 2.4 billion [7][10] - The take rate for payments improved to 2.73% from 2.53%, and the number of managed and connected devices rose by 21% to approximately 1.26 million [10][12] - The customer base expanded by 32%, adding about 23,000 new customers, bringing the total to over 95,000 [10][12] Margins and Profitability - Gross margin improved significantly to 45.1% from 37.5%, driven by enhanced recurring margins and better supply chain efficiencies [9][13] - The company achieved a positive operating profit of $3.1 million, a substantial improvement from an operating loss of $12.4 million in the previous year [9][13] - Net loss for the year was reduced to $5.6 million from $15.9 million, with basic and diluted net loss per share improving to $(0.157) from $(0.479) [9][13] Future Outlook - Nayax anticipates continued growth with a focus on organic revenue expansion, targeting at least 25% of the projected revenue growth for 2025 to come from organic sources [3][19] - The company is also integrating recent acquisitions to enhance its market position and operational efficiency [19][21] - Management aims for a gross margin of 50% and an adjusted EBITDA margin of 30% by 2028, driven by high-margin SaaS revenues and strategic M&A [22]

HERZLIYA, Israel, Feb. 11, 2025 (GLOBE NEWSWIRE) -- Nayax Ltd. (Nasdaq: NYAX; TASE: NYAX), a global commerce enablement and payments platform designed to help merchants scale their business by simplifying payments and maximizing loyalty, today announced that it will release its fourth quarter and full year 2024 earnings on Tuesday, March 4, 2025, before U.S. markets open. Nayax will hold a conference call in English and an in-person investor meeting in Hebrew at its offices in Herzliya, Israel. Nayax CEO an ...

HERZLIYA, Israel and AREZZO, Italy, Jan. 27, 2025 (GLOBE NEWSWIRE) -- Nayax Ltd. (NASDAQ:NYAX, TASE: NYAX)), a global commerce enablement and payments platform designed to help merchants scale their business by simplifying payments and maximizing loyalty, and SECO S.p.A. (IOT.MI), a leading provider of end-to-end technological solutions for industrial digitalization, today announced the execution of a Memorandum of Understanding, ("MOU"), with the intention to establish a long-term strategic partnership to ...

Core Perspective - Nayax Ltd. is reaffirming its commitment to customer-centricity and flexibility with the introduction of 'Retail Your Way' at NRF 2025, showcasing its suite of retail solutions [1] Group 1: Company Overview - Nayax is a leader in 360° customization for payments and loyalty, providing a comprehensive platform designed to help merchants scale their businesses [9] - The company has 11 global offices and approximately 1,100 employees, with connections to over 80 merchant acquirers and payment method integrations [9] Group 2: Product Offerings - Nayax's platform supports diverse retail businesses by enhancing customer experiences through operational efficiency and flexibility across various sectors, including unattended commerce and EV charging [2] - Following the acquisition of Retail Pro International in late 2023, Nayax has launched enhanced retail solutions, including on-premise and cloud-based architectures, advanced loyalty programs, and innovative marketing tools [3] Group 3: 'Retail Your Way' Initiative - 'Retail Your Way' emphasizes three key principles: empowerment through flexibility, personalized customer experience, and scalable, modular solutions [4][5][6] - The initiative aims to provide retailers with tools to optimize customer experiences across multiple environments, catering to both large enterprises and small businesses [4] - Nayax positions itself as a long-term strategic partner, offering integrated management, payment, loyalty, and marketing solutions that adapt to evolving market needs [6] Group 4: Leadership Statement - The CEO of Nayax, Yair Nechmad, highlights the company's commitment to empowering businesses in a rapidly changing marketplace, focusing on solutions that enhance revenue and streamline operations [7]

Nayax Unveil 'Retail Your Way' at NRF 2025 Nayax, the Leader in Seamless Payment and Commerce Solutions, Set to Unveil 'Retail Your Way' at NRF 2025 HERZLIYA, Israel, Jan. 08, 2025 (GLOBE NEWSWIRE) -- Nayax Ltd. (Nasdaq: NYAX; TASE: NYAX), the leader in 360° customization for payments and loyalty, will introduce ‘Retail Your Way’, a recommitment to unparalleled customer-centricity and flexibility across its suite of retail solutions, at NRF 2025, which will take place from January 12-14 at the Jacob K. ...

HERZLIYA, Israel, Dec. 30, 2024 (GLOBE NEWSWIRE) -- Nayax Ltd. (NASDAQ:NYAX, TASE: NYAX)), a global commerce enablement and payments platform designed to help merchants scale their business by simplifying payments and maximizing loyalty, today announced that it will deploy its EasyFuelPlus, a fuel management system, by OTI PetroSmart, a leading provider of integrated, end-to-end fuel management and payment solutions, across the UK alongside its local partner, OTS Group for Tesco, a leading multinational gro ...

HERZLIYA, Israel, Dec. 30, 2024 (GLOBE NEWSWIRE) -- Nayax Ltd. (Nasdaq: NYAX; TASE: NYAX), a global commerce enablement and payments platform designed to help merchants scale their business by simplifying payments and maximizing loyalty, today announced that it will deploy its EasyFuelPlus, a fuel management system, by OTI PetroSmart, a leading provider of integrated, end-to-end fuel management and payment solutions, across the UK alongside its local partner, OTS Group for Tesco, a leading multinational gro ...

Company Overview - Nayax Ltd. is an Israeli fintech company founded in 2005, initially focused on providing payment solutions for vending machines and unattended businesses. The company has since expanded its services globally [3]. Business Expansion - Nayax has broadened its offerings beyond vending machines to serve a wider range of unattended business sectors, indicating a strategic shift to capture more market opportunities [3].