Nayax Ltd. announced its financial results for the second quarter ended June 30, 2025, reporting total revenue of $95.6 million, a 22% increase over Q2 2024. Recurring revenue grew 32% year-over-year to $71.0 million, representing 74% of total revenue.
The company's gross margin improved to 48.3% in Q2 2025, up from 44.3% in the prior-year quarter, driven by higher recurring and hardware margins. Nayax reported a net income of $11.7 million and Adjusted EBITDA of $12.6 million for the quarter.
Operational metrics showed significant expansion, with total transaction value increasing over 34% to nearly $1.6 billion. The customer base grew approximately 24% to approach 105,000 customers, and the installed base of managed and connected devices expanded 16% to almost 1.38 million devices.
Nayax 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. Management anticipates stronger performance in the second half of 2025, driven by increased shipments of recently launched products like the UNO Mini and stronger enterprise sales.
The company 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, reflecting a commitment to high-margin SaaS revenues and operational efficiency.
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