Shares of Nayax Ltd. (NASDAQ:NYAX) climbed 2.7% on Wednesday after the global commerce payments and loyalty platform delivered quarterly earnings that far exceeded market expectations, even as revenue came in slightly below forecasts.
For the second quarter, Nayax reported earnings per share of $0.31, more than double the consensus estimate of $0.14. Revenue reached $95.6 million, missing projections of $99.02 million but still up 22.4% from $78.1 million in the year-ago quarter. Organic revenue growth stood at 20% for the period.
Recurring revenue — which includes SaaS subscriptions and payment processing fees — surged 32.4% to $70.7 million, accounting for 74% of total revenue. The company’s gross margin improved to 48.3%, up from 44.3% a year earlier, thanks to stronger margins in both recurring services and hardware sales.
“Our second quarter results reflect the successful execution of our strategic initiatives and the positive momentum of the business,” said Yair Nechmad, Chief Executive Officer and Chairman of the Board. “We expect acceleration in the second half of the year, driven primarily by stronger enterprise hardware sales in emerging segments such as EV chargers, smart coolers and family entertainment centers.”
Nayax processed transactions worth nearly $1.6 billion in the quarter, up 34.3% from the previous year, with total transaction volume rising 24.5% to 726 million. The company’s customer base expanded by 23.5% year-over-year to approximately 105,000 clients.
Looking ahead, Nayax reaffirmed its 2025 full-year outlook, forecasting revenue growth of 30% to 35%, translating to between $410 million and $425 million on a constant currency basis. Adjusted EBITDA is projected in the range of $65 million to $70 million.
For Q2, adjusted EBITDA came in at $12.6 million, or 13% of total revenue, compared with $8.1 million, or 10%, in the same period last year.
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