Nayax (NYAX) Q1 2026 earnings summary

Executive summary

• Revenue grew 32% year-over-year to $106.9 million, with organic revenue up 26%.

• Adjusted EBITDA rose 43% to $13.9 million, with margin improving to 13% of revenue.

• Net income reached $1.3 million, up from $1.1 million, excluding a prior-year one-time gain.

• Installed base surpassed 1.5 million devices; customer base reached 120,000, up 20%.

• Recurring revenue represented 74% of total revenue, growing 27% year-over-year.

Financial highlights

• Total transaction value increased 33% to $1.8 billion; processed transactions up 16% to 759 million.

• Payment processing fees increased 29% to $47.7 million; SaaS revenue up 25% to $31.6 million.

• POS/hardware sales grew 46% to $28 million.

• Gross margin was 48.9%, with recurring margin at 54% and SaaS margin at 76.5%.

• Cash and equivalents totaled $306 million; debt was $325 million.

Outlook and guidance

• 2026 revenue guidance reaffirmed at $510–$520 million, with 22–25% organic growth.

• Adjusted EBITDA margin expected at ~17% ($85–$90 million).

• Free cash flow conversion from adjusted EBITDA expected at ~40% for the year.

• Mid-term (2028) targets: $1B revenue, 50% gross margin, 30% adjusted EBITDA margin.

• Growth expected to be more evenly split across quarters compared to prior years.