The strong Q1 beat and reaffirmed guidance signal accelerating momentum in recurring revenue and payment processing margins. Watch for continued margin expansion as processing margins improved 400bps to 39.8%. The mid-term 2028 target of $1B revenue and 30% Adj. EBITDA margin provides a long-term catalyst. Monitor Q2 for any guidance revision upward given the strong start.
Price Chart
Executive Summary
Nayax reported Q1 2026 revenue of $106.9M (+32% YoY) and GAAP EPS of $0.034, well above the $0.13 consensus on a non-GAAP basis. The company reaffirmed full-year 2026 revenue guidance of $510M-$520M and Adjusted EBITDA of $85M-$90M, with recurring revenue growing 27% to 74% of total revenue. The strong beat and maintained guidance support a bullish outlook, though GAAP net income fell to $1.3M from $7.2M due to a prior-year one-time gain and higher interest expenses.
Key Financial Metrics
Key Facts
- Revenue of $106.9M, up 32% YoY (organic growth 26%)
- GAAP EPS of $0.034 vs consensus $0.13 (non-GAAP beat is larger)
- Recurring revenue grew 27% to $79.3M, representing 74% of total revenue
- Adjusted EBITDA grew 43% to $13.9M, margin expanded to 13%
- Full-year 2026 guidance reaffirmed: revenue $510M-$520M, Adj. EBITDA $85M-$90M
- Installed base surpassed 1.5M devices; customers reached 120,000 (+20% YoY)
- Total transaction value grew 33% to $1.8B; ARPU up 14% to $247
- Cash and equivalents of $304.7M; total debt of $325.3M
Financial Impact
Revenue beat consensus by ~$1M (1%), EPS beat by ~$0.22 (169%) on non-GAAP basis; guidance maintained at $510M-$520M revenue and $85M-$90M Adj. EBITDA
Risk Factors
- GAAP net income declined to $1.3M from $7.2M due to prior-year one-time gain and higher interest expenses from bond offerings
- Free cash flow was negative $6.0M due to increased infrastructure investment and timing of processing settlements
- Hardware margin compressed to 33.1% from 39.5% due to promotional pricing on new products
- Foreign currency volatility impacted Adjusted OPEX by $1.2M sequentially
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3292714 |
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
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