Nayax Ltd. announced its financial results for the first quarter ended March 31, 2025, reporting total revenue of $81.1 million, a 27% increase year-over-year. Recurring revenue grew 35% year-over-year to $60.9 million, representing a significant portion of total revenue.
The company achieved a gross margin of 49% in Q1 2025, a notable improvement from 44.3% in the prior-year quarter. Nayax also reported a net income of $7.2 million and Adjusted EBITDA of $9.7 million for the quarter.
A key operational milestone was the expansion of Nayax's global customer base to more than 100,000 customers. The company reaffirmed its full-year 2025 financial outlook, projecting revenue growth of 30% to 35% ($410 million to $425 million) and Adjusted EBITDA of $65 million to $70 million, with at least 25% organic revenue growth and 50% free cash flow conversion.
Nayax also reiterated its long-term targets for 2028, aiming for approximately 35% annual revenue growth, a 50% gross margin, and a 30% Adjusted EBITDA margin, driven by high-margin SaaS revenues and operational efficiency.
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