Payments

Nayax lifts Q2 2022 revenue, boosts share price

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August 17, 2022

Nayax Ltd., a global commerce enablement and payments platform designed to enable retailers to provide consumers with digital, cashless, connected commerce experiences, boosted its Q2 2022 revenue over the prior quarter and reported record stock value while earnings declined, according to an earnings release. Highlights include:

• Revenue rose 33% from $31 million in Q2 2021 to $41.2 million for the quarter ending June 30, 2022.
• Company loss extended from $5.9 million to $10.3 million for the comparative quarters.
• Loss per share on a basic and diluted basis extended from 19.2 cents to 31.5 cents.
• Recurring revenue from monthly SaaS and payment processing fees rose 47%.
• The company added 42,000 managed and connected devices during quarter for a total of 595,000 devices, a 38% increase driven by rising customer demand.
• The number of processed transactions rose 70% to 316 million during Q2 2022.
• Transaction value increased 70% to $585 million.

Shares traded at a record $2.08 today against a 52-week range of $1.85-$2.08.

"We delivered another quarter with excellent revenue performance driven by higher recurring revenues," Yair Nechmad, CEO and chairman, said in the press release. "Also, in Q2, we saw broad-based customer momentum across all geographies, with new customer growth of 58% over the prior year quarter and increasing scale from significantly growing both the number of transactions processed and the transaction value."

The company reaffirmed its mid-term revenue growth target of 35%.