Strong Q1 beat on revenue and EBITDA with reaffirmed guidance suggests upside potential. Monitor Q2 for continued organic growth trajectory and margin expansion toward the 17% EBITDA margin target. The 20% customer growth and 14% ARPU increase support the long-term $1B revenue target by 2028.
Price Chart
Executive Summary
Nayax reported Q1 2026 revenue of $106.9 million, up 32% YoY, with organic growth of 26%. Net income was $1.3 million (down from $7.2 million in Q1 2025, which included a $6.1 million one-time gain), while Adjusted EBITDA rose 43% to $13.9 million. The company reaffirmed its full-year 2026 guidance of $510-$520 million in revenue and $85-$90 million in Adjusted EBITDA.
Key Facts
- Revenue of $106.9 million in Q1 2026, up 32% from $81.1 million in Q1 2025
- Organic revenue growth of 26% in Q1 2026
- Net income of $1.3 million in Q1 2026 vs $7.2 million in Q1 2025 (prior year included $6.1M one-time gain)
- Adjusted EBITDA of $13.9 million in Q1 2026, up 43% from $9.7 million in Q1 2025
- Recurring revenue (SaaS + payment processing) grew 27% to $79.3 million, representing 74% of total revenue
- Total transaction value increased 33% to $1.79 billion
- Managed and connected devices surpassed 1.5 million, up 13% YoY
- Customer base grew 20% to 120,035
- Full-year 2026 guidance reaffirmed: revenue $510-$520 million, Adjusted EBITDA $85-$90 million
- Cash and cash equivalents of $304.7 million; total debt of $325.3 million as of March 31, 2026
Financial Impact
Revenue growth of $25.8M YoY (32%), Adjusted EBITDA growth of $4.2M (43%), net income decline of $5.9M due to prior-year one-time gain
Risk Factors
- Operating profit declined to $4.1M from $7.9M due to absence of prior-year one-time gain and higher interest expenses from bond offerings
- Free cash flow negative at -$6.0M due to increased infrastructure investment and timing of processing settlements
- Hardware margin declined to 33.1% from 39.5% due to promotional pricing on new devices in Europe
- Debt of $325.3M vs cash of $304.7M, with higher interest expenses from 2025 bond offerings
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001178913-26-002574 |
| Exhibit: exhibit_99-2.htm | 0001178913-26-002574 |
| Document: zk2635268.htm | 0001178913-26-002574 |
| Document: 0001178913-26-002574-index-headers.html | 0001178913-26-002574 |
| Document: 0001178913-26-002574-index.html | 0001178913-26-002574 |
| Document: 0001178913-26-002574.txt | 0001178913-26-002574 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 6, 2026 20d ago | Press Release | $48.30 $46.61 | ▼ −3.49% | ▼ −3.25% | $50.41 (+4.38%) |
Oct 2, 2026 24d ago | Insider Cluster | $49.00 $49.77 | ▲ +1.57% | ▲ +0.90% | $50.41 (+2.88%) |
Oct 1, 2026 25d ago | 6-K | $49.00 $49.77 | ▲ +1.57% | ▲ +0.90% | $50.41 (+2.88%) |
Oct 1, 2026 25d ago | Press Release | $49.00 $49.77 | ▲ +1.57% | ▲ +0.90% | $50.41 (+2.88%) |
Sep 30, 2026 26d ago | Insider Cluster | $47.71 $48.25 | ▲ +1.13% | ▲ +0.95% | $50.41 (+5.66%) |
Sep 29, 2026 27d ago | Insider Cluster | $44.57 $47.71 | ▲ +7.05% | ▲ +7.25% | $50.41 (+13.10%) |
Sep 29, 2026 27d ago | Insider Cluster | $44.57 $47.71 | ▲ +7.05% | ▲ +7.25% | $50.41 (+13.10%) |
Sep 24, 2026 4w ago | Insider Cluster | $44.75 $45.03 | ▲ +0.63% | ▲ +0.08% | $50.41 (+12.65%) |
Sep 24, 2026 4w ago | Insider Cluster | $44.75 $45.03 | ▲ +0.63% | ▲ +0.08% | $50.41 (+12.65%) |
Sep 22, 2026 4w ago | Insider Cluster | $43.33 $42.63 | ▼ −1.62% | ▼ −0.90% | $50.41 (+16.34%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers