Nayax (NASDAQ:NYAX) reported an impressive start to 2024, revealing remarkable financial performance in its first-quarter results.

The company, a leader in global commerce payments and loyalty solutions, achieved a 43% year-over-year increase in recurring revenue, driving total revenue to $64 million.

Significantly, Nayax reported an adjusted EBITDA of $3.6 million, a notable turnaround from the previous year's adjusted EBITDA loss of $0.6 million.

The quarter also recorded a milestone with the addition of 62,000 connected devices.

Looking forward, Nayax reaffirmed its full-year 2024 guidance, projecting revenue between $325-335 million, reflecting a 38% year-over-year growth, and an adjusted EBITDA in the range of $30-35 million.