Payments

Nayax reports strong Q2 2023 results

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August 9, 2023

Nayax Ltd. boosted its Q2 2023 revenue and reduced its loss compared to the prior year quarter, according to an earnings release.

Highlights include:

• Revenue rose 36.4% from $41.2 million in Q2 2022 to $56.2 million for the quarter ending June 30, 2023.
• The company reduced its loss from $10.3 million to $4 million in the comparative quarters.
• Loss per diluted share improved from 31.6 cents to 12 cents.
• SaaS revenue rose 32.4% from $10.8 million to $14.3 million.
• Payment processing fees rose 50.7% from $14.6 million to $22 million.
• POS devices revenue rose 25.9% from $15.8 million to $19.9 million.
• Total transaction value rose 51% from $585 million to $885 million.
• The number of processed transactions rose 41% from 316 million to 446 million.
• The number of managed and connected devices rose 38% from 595,000 to 824,000.

Shares traded today at $23.60 against a 52-week range of $16.38 to $37.07

The approximate quarterly revenue of $56.2 million missed analyst estimates of $57.25 million while the 12-cent EPS loss met analyst estimates, according to Investing.com.

"We delivered strong revenue growth of 36% year-over-year and improved adjusted EBITDA to $1.3 million, driven by the excellent growth of our recurring revenue sources and ongoing operating efficiencies across the business," Yair Nechmad, CEO and chairman, said in the press release.

The company reaffirmed its full year revenue outlook to between $235 million and $240 million, representing 35% annual growth.