Nayax revenue climbs 32% as recurring fees anchor growth

Nayax (NASDAQ:NYAX) reported a 32% increase in first-quarter revenue, bolstered by a steady shift toward digital payments and a growing base of automated self-service machines.

The Herzliya, Israel-based company generated $106.9 million in the period ended March 31, 2026, up from $81.1 million a year earlier.

Organic revenue growth, which excludes the impact of recent acquisitions, rose 26%.

Recurring revenue from software subscriptions and transaction processing fees jumped 27% to $79.3 million, accounting for 74% of the quarterly total.

This steady stream of income helped offset a negative free cash flow of $6 million during the quarter.

Adjusted EBITDA rose 43% to $13.9 million, representing a margin of 13%.

Net income reached $1.3 million, a figure that reflects a more normalized operating environment compared to the prior year, which had been bolstered by one-time gains from asset purchases.

Gross margin remained robust at 48.9%, even as the company expanded its physical footprint.

Operating metrics showed broad expansion across the company's global network.

Total transaction value processed on the Nayax platform grew 33% to $1.8 billion, while the total number of processed transactions rose 16% to 759 million.

The company’s installed base reached 1.5 million devices, serving a customer base that has now grown to 120,000.

Looking ahead, Nayax management reaffirmed its financial targets for the full year 2026.

The company continues to expect annual revenue between $510 million and $520 million, with adjusted EBITDA projected to land between $85 million and $90 million.