The following is a summary of the Nayax Ltd. (NYAX) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Nayax Ltd.'s Q1 2024 revenue reached $64 million, reflecting a 22% Year-Over-Year (YoY) increase.

• The company's recurring revenue hit $46.2 million, a rise of 43% YoY, now accounting for 72% of the total revenue.

• The hardware margin increased to 27%, fuelled by enhancements in automation and operational efficiencies.

• Gross margin for this quarter was recorded as 43.8%, a substantial increase from 34.1% in Q1 2023.

• Their adjusted EBITDA was at $3.6 million, an improvement from an adjusted EBITDA loss of $0.6 million in the same period last year.

• Nayax successfully raised capital in March, generating roughly $63 million net of fees and expenses.

Business Progress:

• Nayax's transaction value significantly increased by 34% YoY, surpassing the $1 billion mark.

• The company added a record 62,000 new managed and connected devices for the quarter, driving their growth.

• Revenue growth was primarily driven by robust demand in the OEM hardware businesses and recurring revenue streams.

• Nayax completed the acquisition of Roseman Engineering and VMtecnologia, expanding its geographic reach and product portfolio.

• The company expects a considerable surge in enterprise sales and is preparing for increased investments in the Microsoft Cloud and demand for the AI platform.

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