Core Insights - Nayax Ltd. reported strong financial results for Q1 2025, with total revenue of $81.1 million, a 26.7% increase from $64.0 million in Q1 2024, and recurring revenue growth of 35% year-over-year [1][5][6] - The company expanded its global customer base to over 100,000, reflecting a 31% year-over-year increase [3][10] - Gross margin improved significantly to 49.2%, up from 43.8% in the previous year, driven by enhanced operational efficiencies and a favorable sales mix [9][10] Financial Performance - Total revenue for Q1 2025 was $81.1 million, compared to $64.0 million in Q1 2024, marking a 26.7% increase [5] - Recurring revenue, which includes SaaS subscription revenue and payment processing fees, reached $62.2 million, a 34.6% increase from $46.2 million in the prior year [5][6] - Net income for the quarter was $7.2 million, a significant improvement from a net loss of $5.0 million in Q1 2024 [9][10] - Adjusted EBITDA was $9.7 million, representing a margin of 12% of total revenue, up from 6% in the prior year [9][10] Operational Metrics - The total transaction value processed increased by 18.2% to $1.3 billion, with the number of processed transactions rising by 20.4% to 650 million [7][10] - The take rate for payments increased to 2.75% from 2.65%, indicating improved efficiency in transaction processing [10] - The number of managed and connected devices grew to approximately 1.33 million, a 20% year-over-year increase [10] Strategic Developments - Nayax completed the acquisition of UPPay, significantly expanding its connected devices footprint in Brazil [10][11] - The company raised $133 million through a notes and warrants offering, which will be used for general corporate purposes, including debt repayment and potential acquisitions [9][10] - Nayax reaffirmed its financial outlook for 2025, projecting revenue growth of 30% to 35%, with adjusted EBITDA guidance between $65 million and $70 million [12][13]
Nayax Reports First Quarter 2025 Results