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]
Nayax Reports Fourth Quarter and Full Year 2024 Results