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Nayax (NYAX) investor relations material
Nayax Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Revenue grew 22% year-over-year to $95.6M in Q2 2025, with recurring revenue up 32% to $70.7M, representing 74% of total revenue and gross margin improving to 48.3%.
Net income reached $11.7M, turning positive from a prior year loss; adjusted EBITDA was $12.6M (13% margin), up 56% year-over-year.
Customer base expanded 24% to 105,000, with managed and connected devices up 16% to 1.38M and churn rate at 2.8%.
Major partnerships in the EV charging vertical, including deals with Autel Energy and Lynkwell, and strategic acquisitions in Benelux and Brazil.
Reaffirmed 2025 guidance and highlighted robust demand in emerging verticals like EV charging, smart coolers, and retail.
Financial highlights
Total transaction value increased 34% year-over-year to $1.6B, driving 35% growth in processing revenue to $43.1M.
Gross margin improved to 48.3% from 44.3%, with recurring margin at 52.8% and hardware margin at 35.4%.
Adjusted EBITDA was $12.6M (13% of revenue), up from $8.1M last year; operating profit was $9.5M, including a $5.6M one-time gain.
Free cash flow for Q2 2025 was $5.6M, up from $2.9M in Q2 2024; cash and equivalents totaled $172M, with $156M in debt.
Basic EPS was $0.316, up from a loss of $(0.083) per share in Q2 2024.
Outlook and guidance
Full-year 2025 revenue guidance reaffirmed at $410M–$425M (30–35% growth), with at least 25% organic growth and $65M–$70M adjusted EBITDA.
Free cash flow conversion expected at a minimum of 50% of adjusted EBITDA.
2028 targets include 35% annual revenue growth, 50% gross margin, and 30% adjusted EBITDA margin.
Guidance assumes strong customer demand, stable macroeconomic conditions, and stronger performance in the second half of 2025.
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