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Nayax boosts Q3 2022 revenue, earnings slide

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November 16, 2022

Nayax Ltd., a global commerce enablement and payments platform designed to enable retailers to provide consumers with digital, cashless, connected commerce experiences, lifted its Q3 2022 revenue while extending its loss compared to the prior year period, according to an earnings release. Highlights include:

Total revenue rose 53%, from $30.9 million in Q3 2021 to $47.2 million in the quarter ending Sept. 30, 2022. Q3 2022 results included a consolidated P&L of On Track Innovations, which had a favorable impact on hardware revenue ($3.7 million) while gross margin was in line with Nayax's margins.
Net loss rose from $6.7 million to $9.9 million for the comparative quarters.
Basic and diluted loss per share increased from 20.65 cents to 30.04 cents.
The company added 4,000 new customers, including 300 from OTI, across its global footprint, bringing the total customer base to 42,000, an increase of 56% over Q3 2021.
The company operated 90,000 managed and connected devices during the quarter, driven by growing customer demand, execution of market expansion strategy and the addition of 47,000 OTI devices. The total of 685,000 managed and connected devices represents an increase of 48% compared to Q3 2021.
The number of processed transactions grew 56% over Q3 2021 to 341 million.
Total transaction value increased 51% from prior year quarter to $616 million.

Shares traded at $25.14 today against a 52-week range of $3.25-$32.50.

The $47.2 million in quarterly revenue surpassed analyst expectations of $41 million, while the EPS 30-cent loss fell short of an expected 2-cent loss, according to investing.com.

"We delivered outstanding results in the third quarter, with revenue growth of 53% over the prior year quarter, reaching a record high that was driven primarily by our organic growth initiatives," Yair Nechmad, CEO and chairman at Nayax, said in the press release.

The company affirmed its mid-term revenue projection of $220 million, driven by organic growth and mergers and acquisitions.